Today, I’m answering a couple of questions about the bank statement for Graduate School Application and Admission in the USA.
I am applying for the Fall semester for a graduate program (Ph.D.) in the biological sciences. I would like to know more about bank statements as I need to show loans as my source of finance.
As most banks I talked to say that they can give me bank statements only when the university confirms the admission, how can I send my application to the school without my bank statements, as it is one of the requirements in the application kit that needs to be sent?
Please advise me for both UK and US Universities. Please also tell me what other financial statements can be presented. Plus, I like to know if property papers need to be shown instead of the bank statement.
Bank Statement for Graduate School
A bank statement and a bank loan are two different things. Here’re the contents of a Bank Statement that universities expect to see.
- The bank statement should be on the banks letterhead.
- Contents should be in English ( at least the core contents should be in English)
- The account holder’s name (Parents or Students or Sponsors)
- Full Account Number or, at least, last four digits.
- The type of account (Checking, Savings, Deposit, FD, etc.)
- The balance at the time bank balance is issued.
- Currency: Include local currency, its equivalent in USD and current conversion rate.
- The date of bank statement issuance.
Sample Bank Statement
You can download the pdf version from here.
Financial Affidavit vs. Bank Statement
Some colleges and universities will request a Financial affidavit in addition to the Bank Statement.
Here’s a sample Financial Affidavit from the University of Texas at Dallas.
Check with the college you are applying. They should have instructions on the Admission page for International Students on the list of required documents to receive I-20.
For additional details refer to 12 FAQs About Bank Statement to Getting I20.
Some Universities in the U.S. will ask international students to send financial affidavits along with their bank statements.
More on that – When to send the bank statement.
Property Papers for Bank Balance
No, you can’t use property documents as bank balance.
You will need to show your bank balance in the form of liquid cash.
From the sample bank statements in above links, you will see USD equivalent of Indian Rupees.
Property can be used for immovable property during the student visa interview as the source of income and show ties to your country.
Brother as Sponsor
Yes, brothers and relatives can be sponsors instead of you or your parents as sponsors. You have to get bank statement from them. He/they have to fill out the financial affidavit form that the University provides or get the bank statement with their name.
When the I-20 is issued, his/their name will be listed as your sponsor. When appearing for the visa, your brother has to another bank statement ( same format as above) and affidavit form (varies based on your location/country).
You can read more information about borrowing money from relatives for the bank statement.
How to get a bank statement
Usually, students who apply for graduate school admission or even undergraduate education in U.S. Universities will usually borrow money from relatives and friends and deposit in their bank accounts. After 1 or 2 days, they will get bank statements from the manager and then return the money back.
I hope the suggestions and answers I shared here will help you with your questions. Again, I hope it’s clear that you can always get bank statements while student loans are possible only after admissions.
Good luck! Let me know if you have any further questions.
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