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Texas A&M Requires 3 Months of Bank Transactions to Issue I-20

Universities will require International students to send proof of available money from sponsors for atleast 1 year to get I-20. After  reading a comment from Anirban that said Texas A&M University is asking for 3 months of bank statement with transactions, I went to explore the facts

I have a question about the I20. I got into Texas A & M. To finance my first year at the university, my father is taking a bank loan. It is a business loan not education loan. The loan amount will be credited to my fathers bank account in cash. The bank statement will of the current month will show that amount. However, I have to send 3 months’ bank statement of which only the 3rd month will show the loan amount. Can I obtain an I20? Or will there be any complications?

How to get I-20

Here is a brief overview about the process  of getting I-20

  • Students will get a bank statement showing the required amount.
  • Then bank statement will be mailed to the university along with application package or after getting admission.
  • University sometimes calls the bank  to verify the statement ( very few universities)
  • University issues I-20

Typical bank statement for Graduate School Admission in above case will not show any transactions, but just a letter showing the bank balance, account details and current conversion to USD.

TAMU and Bank Transactions

Here is exact text from TAMU for Proof of funds

If you will be supported by private funds, please provide the following:

  • Bank Statement(s):
    • Should be current. The bank statement should include three most recent months worth of transactions.
    • Should be official. The bank statement should clearly identify document source (monthly mailed statement, online statement, statement by request, etc.) and include the account holder’s name, type of account, bank name and branch
    • Should be legible. Originals may be requested at Texas A&M University’s discretion
    • Should contain the specific amount of money available. The bank statement must show liquid assets such as cash deposits, certificates of deposit, saving accounts, etc. Statements regarding property, jewelry, cars, and other non-liquid assets are NOT acceptable. Statements regarding investments such as stocks and bonds are also not acceptable
    • Should contain the specific denomination and currency of the funds. It is acceptable that the funds are in currencies other than U.S. dollars.

It’s very interesting to see why TAMU is asking for last 3 months of bank transactions ( copies of your bank pass book)  for last 3 months.

With Anirban’s case there will be huge transaction and its not clear on how TAMU will consider that transaction.

Ways to get Bank Statement

US consulates sometimes look at bank pass book and raise the questions about large transactions. Some students who cannot afford to show large bank balance pay for companies that will deposit money into bank for few days, then students get the bank statement, pay a fee to the company for using their money.

Such students get education loan and are greatly dependent on getting some form of aid to survive in grad school in USA. You should read about F1 Visa Canceled due to Fake Bank Statement.

Typical Indian middle class family might not have $35,000 to $50,000 in savings account. But, they will have money in variety of forms ( property, jewelry, cars, lending, stocks, post office deposits and other non-liquid assets).

It’s tough to convert and collect all the money into one account while applying to university (6 to 8 months before visa interview), but during visa money HAS to come to one account.

TAMU is asking for bank statement only after admitting the students, you ( and Anirban) will also have to prepare for visa interview in couple of months, which means you should be moving money from all  your sources into one place. If TAMU raises the question of large deposit, you can always show the proof of the loan.

Do you have any comments to share  about this? What if all the universities start asking for 3 months of bank transactions just to issue I-20?