Do Universities really verify and validate the balance before issuing I-20 for graduate school admission?
Its really a trick question to answer and I will try my best to give the exact answer.
As far I know, universities don’t verify the bank balance statement that is sent along with the application for graduate school admission. Bank Statement is valid for 6 months from the date it was issued.
Some universities require very large tuition graduate tuition fee and when converted to local currency, it a very big amount to show as proof.
From, my experience, not all have that amount of money available immediately, they might have in different places and in different forms, say jewelery, land, buildings. So, during graduate school application process, they send fake bank statements.
Fake Bank Statement
Fake bank statement can be seen in 2 ways, borrowing money from friends and relatives and holding in account for few days to just get the bank statement and paying few percentage to some consultancy, who will deposit money into your account and after you get the statement, they will take the money back. Its a good business for people are making so much money from that.
Next worst way I can think is getting completely fake document ( bank letter head, seal, signature, account number ) is all fabricated. I have heard people do that, but haven’t meet anyone in person who has done that.
Taking in terms of good ethics, if you really cannot afford to show bank statement for your education expenses and planning to study in U.S. implies the person is merely trying to enter in to U.S. I wouldn’t say its worth the effort. With fake bank documents, one might get admission, but chances of getting student visa stamping is less.
Its very easy for the consulate officers to find out if the documents are fake. If the statement and money is original, then you will be able to answer questions related to transaction in pass book, source of each fund, original parents income tax returns.
F-1 Student Visa Canceled
Due to fake bank statement, visa was issued to student and then canceled. Above all consulates know who are people doing this kind of fake documents. Bank statement from certain bank is considered fake. So, if they see a bank statement during visa interview, chances that you will enter U.S. in your life time in NIL. I mean Zero.