US universities and embassies accept only liquid cash. You need to show these funds twice in the form of F-1 visa sponsor documents. There are various types of financial F-1 visa sponsor documents that you, as an applicant, can show the consulate. The most important ones have been listed below:
- Fixed deposits receipt
- Solvency letter
- Loan letter
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Along with an affidavit of sponsorship for an F-1 visa, there are other financial documents required as proof of funds. Let us discuss each of these documents individually below:
- Fixed Deposits Receipt: These need to be attested by your bank and can be in the form of a savings account statement, balance certificate by bank, or an attested PF/PPF- passbook statement.
- Solvency Letter: A letter from the bank stating your sponsor can raise approximately INR 25–30 lakhs for your higher education. This is not an actual fund in your account but a capability certificate a bank provides looking at your history and assets, which you would mortgage to acquire a loan.
- Loan Letter: A sanction letter or a loan letter is typically received post-receiving I-20 by all national and public banks. Only private banks provide education loan letters before I-20 based on students' admit letters. So if you received the loan letter before I-20 you may also use that to show funds to the university.
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Note: 90% of the time, a solvency letter works, but there have been certain cases where the university rejects this letter, and in this situation, we have no choice but to show liquid cash in the above formats.
One thing you should know as an applicant is that each application case is very subjective. Also, all the documents that you provide to the consulate should be true and contain no false claims or information. Moreover, applying for a US student visa can be a tedious process, but ensuring truthful information, and trustworthy intent will help you get hold of the visa! You can even connect with our 小优视频 Counsellors to know more about how to get sponsorship for education in the USA.