Do colleges and universities verify and validate the Bank Statements and Balance submitted by the students’ bank accounts before issuing I-20?
It’s a trick question to answer, and I will try my best to give an appropriate response.
As far I know, colleges and universities don’t verify the bank balance statement that is sent along with the application for graduate school admission. It should be noted that bank statements are valid for six months from the date of issuance.
If colleges were to verify the bank balance ( and bank statements), I’m sure lot of students will not be getting I-20.
Some universities fees are high. So, they expect to see a bank balance regarding $80,000 require very high graduate school tuition fees and when converted to local currency, it is even a larger amount to show as proof.
- Bank Statement Template for US College admission (step by step process with template for bank statement)
From my experience, the when large amount of money is not available immediately. Parents likely have their financial assets in different places and different forms, like jewelry, land, properties, etc.
There are many rich people who don’t have cash immediately available as they use their finances in businesses, etc.
These are among the reasons why during the graduate school application process, some applicants are forced to send fake bank statements.
Fake Bank Statements
There are two standard “legal” ways in creating partly-fake bank accounts. First is by borrowing money from friends and relatives and holding in an account for a few days just to get the bank statement for a period.
The second is by paying an agreed percentage (borrowing fee) to some consultancy, who will deposit money into one’s account and after getting the statement, they will take the money back.
It’s good business for some people as they are making so much money from that.
And there’s the other more sinister way, which is by going to professional forgers to have a set of fake documents (complete with bank letterhead, seal, signature, account number, etc.) all of which are fabricated. I have heard some people do that, but I haven’t met anyone in person.
Taking this issue regarding morals and ethics, if you really cannot afford to show any sufficient bank statement as proof of your capacity to afford an education in the U.S., it only implies that the person is merely trying to enter America.
I wouldn’t say it’s not worth the effort. Because with fake bank documents, one might get admission. However, the chances of getting a student visa is another story.
It’s very easy for the consulate officers to find out if the documents are fake as they have the skills and means to verify them immediately.
If the bank statements are original, suggesting that the money is real, then you will be able to answer questions related to transactions in your passbook, the source of each fund, private details about your parents’ income tax returns, etc.
F-1 Student Visa Canceled
I know of an instance when because of a fake bank statement, the visa initially issued to a student but was later on canceled because the truth was eventually discovered.
And despite employing the best forgers available or doing the most authentic document-faking styles, consulates have that extra “sense” to know the people who are doing these kinds of modus operandi.
Also, consulates have a list of banks that have been found to issue fake or manipulated bank statements. So if you used documents from such banks during visa interview, your chances to enter the U.S. in your lifetime would be NIL. I mean zero.