$15,500 in Scholarship; Required Bank Balance for US F1 Visa

Raghuram Sukumar Application 8 Comments

I have received an admit from Iowa university for MBA I 20 states 31000 ( total expense ) and 15500 school  My Scholarship will be repeated in next year also ( if i maintain 3/4 GPA). Now Problem is how much funding should i show. I have

  • 5.5 Lks in my bank acc ( my savings)
  • 7.5 Lks loan approved from HDFC
  • 4.5 Lks My mothers saving in bank account and shares
  • 8.0 Lks Sponsorship from my brother ( his monthly income is 1.00 Lkh)
  • 30.0Lks worth of appraised value of a family property.

I would be great full if you could guide me on F1 Finance management.

 

I-20 Form and Fees

Your question is answered in previous blog post – Bank Balance Required for admission with Scholarship.

  • Total Expenses – $31,000 (About 14 Lakhs Rupees)
  • Scholarship – $15,500 (About 7 Lakhs Indian Rupees)
  • Expense after Scholarship = 31,000 – 15,500 = 15,500

Your Total Cash

  • 5.5 Lks in my bank acc ( my savings)
  • 7.5 Lks loan approved from HDFC
  • 4.5 Lks My mothers saving in bank account and shares
  • 8.0 Lks Sponsorship from my brother ( his monthly income is 1.00 Lkh)
  • Total Cash in Savings Account = 5.5 + 4.5 + 8 = 18 Lakhs (About USD 40,000)
  • HDFC Loan = 7.5 Lakhs ( About USD 17,000)

You have enough money in Savings Account. Since you already have scholarship, you have very good chances to get F1 Visa stamping. Again, this is based on the information you have provided.

Comments

  1. hi, i have applied to 3 univs in USA fr aerospace un dergrad, gt my acceptance frm florida tech wth a scholarship of 14000usd a year……………my dad has an annual salary f 4.8 lacs n my mum has 2 lacs a year….my dad has provident savings of 8 lacs n mum has 3 lacs………….moreover the account balance is 4 lacs wth dad…………the total cost fr attending florida tech is 18 lacs a year…….shd this account be enough for convincing the visa officials or shd i do smthin els……please suggest……

  2. I have an admit from OSU, Stillwater with TA (Teaching Assistantship), The total estimated annual expenditure as per the university is around USD 26000, my TA is valued at USD 16500 , It will continue for the next year also if i perform well with 3.5/4 GPA,

    Now I have around 4lakhs (savings)
    My father has around 4.5 Lakhs (FD)
    I am expecting a student loan of around 4 Lakhs
    My uncle would issue me a affidavit of support, as he has continuous income where as my father hasn’t
    Is this sufficient to convince the visa officer?

  3. i am a nigerian who lives in the uk, searching for a scholarship or grant to do a phd or masters degree. i have an f1 visa valid till nov 19 2011. also looking for the cheapest school that does not require gre or toefl for physician assistant.

  4. I am a big fan of happy school bag…always been the to give solutions…i am preparing for GRE , as want to pursue P.hd in cell biology ,Have done my masters in Biochemistry. I wanted to know that, do i need to show bank balance statements for enrolling into graduate school,and to get a scholarship is on Universities discretion..Please Guide me on to this i am so confused.

  5. I am a little bit pissed off by enquiry like this.

    Financial evidence is required while universities (intrl offices) issue DS-2019 to international students and normally detailed instructions are provided either on the DS-2019 request form or the school's webpage.

    As a will-be grad student, should you just do more research before posting questions and waiting for spoon-feeding?

    1. School gives instructions on how much funding is required to issue I-20. Visa stamping is completely different. Example – schools says show $30,000 in bank account to issue I-20. Student shows the proof and receives I-20. For student visa person has to show proof of funds for 1st year and 2nd year expenses fees and have additional money to pay for their living. If parents are sponsoring them, then they should not give all their life savings and left with no money. VO will look into that details.

  6. Hi, I am following Happy Schools Blog for last 4 months since I have started preparing for GRE and this has been very fruitful to me.

    I have admission offers from two universities, Louisiana State University and Oklahoma state university for PhD in Economics. LSU is giving me a stipend of $14600 and OSU $17400. Apart from that in LSU I have still to show the balance of $1500. I am confused which university to choose because money matters for me and LSU has better ranking in Economics.

    If I choose LSU then how much money would be sufficient for visa processing? Will $3500 (INR 160,000) be okay? I have got money from my father and have deposited into my savings account and I am showing it as my personal savings. If possible please omoit the names of the universities in your answer. Please reply soon as I have to take a decision over this as soon as possible.

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