International students are required to provide proof of funding during their school application process. The purpose is to demonstrate to the school that the applicant has the ability to pay for tuition and living expenses during their studies.

Let’s clarify some common misconceptions and questions about financial proof first.

How much funds should I prepare?

Typically, schools will specify a clear amount of funds needed on the application page’s checklist. This amount is roughly what the school estimates an international student will need to cover tuition and living expenses for one year. You only need to prepare funds exceeding this amount; more is always better.

How long should I freeze the funding?

Actually, you only need to ensure the proof of funding is recently issued and there is no need to freeze it. You can choose a freeze period of one day, ensuring you can still manage your funds in the short term. Alternatively, you could simply use a monthly bank statement as proof of financial resources, as long as it shows a sufficient balance.

Can I use my salary slips as proof of funding?

No, because only “liquid assets” can be used as proof. Items like salary slips, property deeds, or car registrations cannot be used as financial proof. In addition to monthly bank statements, you can also use stock account statements or cryptocurrency account statements.

Can I use financial proof documents from distant relatives or friends?

Yes, U.S. schools stipulate that if the financial proof documents are not under the applicant’s name, an additional Financial Sponsor Letter or Affidavit of Support must be provided. The sponsor and the applicant do not need to be related.

Generally during the application process, you will be asked if the financial proof documents are in your own name. If not, the school will require you to fill out a designated Financial Sponsor Letter.

If the school does not provide a specific form to fill out the sponsor information, the following general template can be used.