F1 Visa Approval Chances Based on Your Bank Balance
I got a few more comments and questions on how much liquid cash to show as proof for student visa interview for the U.S.A.
Please refer to your I-20, and you can also read the sample I-20 fees with breakdown to know what is the total fee for 1 year from section 7.
I will present the “best” and “worst” case scenarios when declaring your bank balance. The “best” case means your chances of getting visa is higher, whereas the “worst” case involves lower chances of visa approval.
Let’s begin with the assumption that a 1 year total expense = $20,000 (including tuition, living, and other expenses). Here are 3 examples on F-1 visa scenarios with approval chances.
It should be noted that in addition to bank balance, visa officers will also check for other requirements for F1 Visa interview.
Case 1: (Visa Approval Chances > 90%)
- 1st year: 1.5 * $20,000 = $30,000 as liquid cash in savings account
- 2nd year: $20,000 (in savings account, or combination of fixed deposit, savings account, etc.)
- Backup: $20,000 in student loan
Plus: Movable and immovable properties and continuous income of parents as per income tax returns (ITRs).
Case 2: (Visa Approval Chances > 50%)
- 1st year: $20,000 in liquid cash (savings account)
- 2nd year: $20,000 ($5,000 savings account + $5,000 fixed deposit + $10,000 in student loan)
- Backup: $10,000 from student loan
Plus: Movable and immovable properties and continuous income of parents as per ITRs.
Case 3: (Visa Approval Chances < 50%)
- 1st year: $20,000 in liquid cash (savings account + fixed deposit)
- 2nd year: $20,000 ($20,000 in student loan)
- Backup: no liquid cash available
Plus: Movable and immovable properties and continuous income of parents as per ITRs.
The above cases are what I would assume how one’s visa approval chances would be based on mainly on one’s financial standing. It should be noted that these scenarios don’t include academic, GRE, and other credentials.
Case 3 doesn’t mean you will automatically be denied visa.
Because it is very expensive to study in some colleges or universities, Case 3 will be the best way a student can show a proof of balance.
I will get some visa-related bank balances used by students in applying for different colleges and I will post them here in a few days. That will give you a better idea of how much balance to show.
My daughter wants to pursue M.S in U.S. Regarding funding , I have my sister in law and my brother's daughter who has expressed their their willingness to bear the expenditure for my daughter. In this case what is the formalities to get the student visa.
You have to mention them as sponsors and get affidavit, bank statement from them during application process.
in my I-20 form $11000 is the total expense from one year. i have $6500in my saving account . and also have fixed deposit $ 8000.and $2400 in pf.fund.
and my father have is around$51000 in fixed deposit form.my father is working and overall income is $ 15000 per year.and have property is around $54000 but have no proof he can show only $ 6000. then what is chance geeting visa approval
Hi, i'm Zahid. I don't have even any bank account. I've got I20. One of my uncle is currently working in INTEL and he is working there for about 13 years. One of my Mama is a well businessman in NY and upper graded tax payer. Both of them are agree to finance me for my study. Can anybody tell me that, are thay eligible to sponsor me for my studies and if yes then what's the possibility of getting visa???
I’m assuming the fee would be within the Rs. 20 lacs range here and another Query is will that loan be nice enough to satisfy the Universities?
Hi!,
My dad could be having around 4lacs in total, how about i take a loan of 20 lacs. Would that be good to support the entire MS program for whatever number of months it lasts?
I’m just apporehensive about showing the xx lacs amount in the financial documents, i know we all manage to complete MS in way less money than whats mentioned on the i20, we being Indian(efficient!). Kindly throw some light on this query.
Hi, I have been reading about the posts regarding the funds required to get the education in US. I want to generally share one thing.
I have been selected for MS in New york University and fee is around $32000 yearly. I went to the bank to apply for loan and the Bank loan works like this:
Bank checks how much liquid assets your have and then calculate the total expenditure of the education like in my case $64000.
Now the bank is ready to give me complete loan or ($6400 – $liquid assets my sponsor have) as they put there money in the complete Project.
My question is if the Saving a.c are creating so much problems then can’t we take the complete education loan from the bank?
Can you please tell me what is the maximum amount of loan i should apply for.Suggest me the maximum.
Thanks
Actually i got my i20 and i have my F1 visa appointment in more 18 days. Currently My parents savings account has 2 lakhs only and in next week days there will be more 5 L added to that. I dont have any FD and applying for loan. How much loan should I apply and is the savings of 7L is enough. Moreover, if i deposit 7L then is there any proof required!. The expenses in the univ are 22000$ per annum.
well i have an i20 and currently have the funds for all the 2 years in liquid assets only… one doubt that i have in mind is that do i need to have all the required funds in my savings account??
currently i have about 70% of the amount (for 1yr) in savings and the rest is invested in FDs and other saving schemes…
could i face any problem in my visa??
Hi!
You didnt consider the cases with financial assistance. Suppose one year Total expenses are $20,000(incl tuition, living, other expense )And its mentioned on I20(in column 8b) that one year Funds from School= $20,000(Assistantship).
can you plese let me know what bank balance wud ve to show for integrated phd?