A question from Rajiv:
I received an I-20 from the University of Mississippi. I got scholarship from the same college. In my I-20, the cost for my first year of education is $21,250. I got $13,380 as a fund from the college and I have to show $10,000 as family fund. Now how much do I have to show in the bank balance?
Good to see that you have assistantship with admission.
Scholarship or assistantship reduces much of your worries to show for your bank balance for your F-1 student visa interview as well as the amount to be shown for bank balance will be greatly reduced, too.
One of my friends had a full scholarship. He took his bank statement as the total cost of education, but he was asked to take away the bank statement from the list of documents in the counter since he already has full scholarship.
Since you have about $13K in scholarship, you will need to show proof, preferably in liquid cash for the remaining first year and second year. Also get a student loan approval and use that as your back up source.
- First Year: $10,000 (in Cash)
- Second Year: $22,000 (in Cash)
- Backup: $10 Lakhs in Student Loan
The above case will definitely increase your chances for landing a visa.