financial statement

blackcat007
Posts: 378
Joined: Wed Mar 26, 2008 9:14 am

financial statement

Postby blackcat007 » Thu Dec 10, 2009 11:03 am

Is being eligible for a loan a valid source of financial support for the financial statement? my father (my only sponsor) is eligible for a loan in addition of the amount in his savings, the total of the two being equal to the amount that is to be shown in the financial certificate. if he gets a financial statement mentioning this from the bank.. then will that be valid both for admission and VISA?

sravanskarri
Posts: 58
Joined: Sat Jun 14, 2008 10:19 pm

Re: financial statement

Postby sravanskarri » Thu Dec 10, 2009 12:09 pm

blackcat007 wrote:Is being eligible for a loan a valid source of financial support for the financial statement? my father (my only sponsor) is eligible for a loan in addition of the amount in his savings, the total of the two being equal to the amount that is to be shown in the financial certificate. if he gets a financial statement mentioning this from the bank.. then will that be valid both for admission and VISA?


I am not sure if a loan would be able to convince admissions/visa officers that you have enough financial resources. Is the financial statement required before application deadline ? I suggest waiting till you get an offer if not so.

Also it s better to ask or follow what your fellow IIT ians /seniors did. Though I took a loan, I had to show more than sufficient money for the entire duration of stay I planned to study ( 2yrs in my case) from all other sources ( except the loan) for admission, but I am from a college not well known for research etc. Typically IIT ians do not need that much as they always manage to get full support, I know this from few of my friends here.

For Visa, you require much more than what you have in financial statement to be on the safe side. Again,for IITs they do not really ask about these things from what I have heard from my friends.

blackcat007
Posts: 378
Joined: Wed Mar 26, 2008 9:14 am

Re: financial statement

Postby blackcat007 » Thu Dec 10, 2009 12:17 pm

sravanskarri wrote:
blackcat007 wrote:Is being eligible for a loan a valid source of financial support for the financial statement? my father (my only sponsor) is eligible for a loan in addition of the amount in his savings, the total of the two being equal to the amount that is to be shown in the financial certificate. if he gets a financial statement mentioning this from the bank.. then will that be valid both for admission and VISA?


I am not sure if a loan would be able to convince admissions/visa officers that you have enough financial resources. Is the financial statement required before application deadline ? I suggest waiting till you get an offer if not so.

Also it s better to ask or follow what your fellow IIT ians /seniors did. Though I took a loan, I had to show more than sufficient money for the entire duration of stay I planned to study ( 2yrs in my case) from all other sources ( except the loan) for admission, but I am from a college not well known for research etc. Typically IIT ians do not need that much as they always manage to get full support, I know this from few of my friends here.

For Visa, you require much more than what you have in financial statement to be on the safe side. Again,for IITs they do not really ask about these things from what I have heard from my friends.

I wish I could wait.. but two of my schools need that statement for the application process. thus I am forced to do all these now.. further to aggravate my concerns, none of my seniors applied to these two schools.. thus I am rendered helpless.. :(

sravanskarri
Posts: 58
Joined: Sat Jun 14, 2008 10:19 pm

Re: financial statement

Postby sravanskarri » Thu Dec 10, 2009 1:30 pm

I wish I could wait.. but two of my schools need that statement for the application process. thus I am forced to do all these now.. further to aggravate my concerns, none of my seniors applied to these two schools.. thus I am rendered helpless.. :([/quote]

What you can do in that case is to get the loan processing done ASAP and get the amount deposited in your acc/your father's and then have a bank statement based on that so that details of loan do not surface, may be you tried this already :). Another way our middle class families handle this, is to request a few relatives\family friends to make a few deposits for one or two days and get a bank statement based on that. Schools do not care checking this info at all, so they can all withdraw later.

Since you are in with a noble purpose, surely I can help too, no offense implied.

pqortic
Posts: 398
Joined: Fri Aug 29, 2008 9:24 am

Re: financial statement

Postby pqortic » Thu Dec 10, 2009 3:40 pm

you don't want to attend a school without financial support, do you? so there is no point in preparing this document now. basically this is for students who don't have financial aid. I am pretty sure that most of the schools postpone this requirement to the time you hear about the offer(without aid) and decide to attend their program. top schools only admit student with assistantship so they never ask for that. other schools also are very flexible about this and temporary waive it upon request.

blackcat007
Posts: 378
Joined: Wed Mar 26, 2008 9:14 am

Re: financial statement

Postby blackcat007 » Thu Dec 10, 2009 7:15 pm

pqortic wrote:you don't want to attend a school without financial support, do you? so there is no point in preparing this document now. basically this is for students who don't have financial aid. I am pretty sure that most of the schools postpone this requirement to the time you hear about the offer(without aid) and decide to attend their program. top schools only admit student with assistantship so they never ask for that. other schools also are very flexible about this and temporary waive it upon request.


well its a UNC requirement.. on asking them whether I could submit it after my admission they gave a categorical NO and replied "All international applicants are required to submit the financial certificate at the time of application."

they say that this is just to prevent postponement of issuing the VISA once I get admitted.

blackcat007
Posts: 378
Joined: Wed Mar 26, 2008 9:14 am

Re: financial statement

Postby blackcat007 » Thu Dec 10, 2009 7:19 pm

What you can do in that case is to get the loan processing done ASAP and get the amount deposited in your acc/your father's and then have a bank statement based on that so that details of loan do not surface, may be you tried this already :). Another way our middle class families handle this, is to request a few relatives\family friends to make a few deposits for one or two days and get a bank statement based on that. Schools do not care checking this info at all, so they can all withdraw later.

Since you are in with a noble purpose, surely I can help too, no offense implied.


well if i process the loan what will i do when i will get the TA or RA. this financial statement is for VISA only..

but my father got a bank statement saying that he is eligible for a loan... and i am going to go with it..
lets see what happens. :|

kedar
Posts: 17
Joined: Wed Jul 02, 2008 1:48 am

Re: financial statement

Postby kedar » Sun Jan 17, 2010 5:27 am

I m facing the same problem with some of the unis : however I feel the MS physics programs would require this any way.. I would like to know if I am applying for funding, do they generally waive this requirement until confirmation of acceptance..

pqortic
Posts: 398
Joined: Fri Aug 29, 2008 9:24 am

Re: financial statement

Postby pqortic » Tue Jan 19, 2010 12:37 am

kedar wrote:I m facing the same problem with some of the unis : however I feel the MS physics programs would require this any way.. I would like to know if I am applying for funding, do they generally waive this requirement until confirmation of acceptance..


they usually do. although this policy is different in some universities. it's better to contact them and ask.

User avatar
mrrsnhtl
Posts: 79
Joined: Mon Jun 27, 2011 4:27 pm

Re: financial statement

Postby mrrsnhtl » Sat Nov 26, 2011 4:10 pm

Hello,

I am puzzled on this issue, too. Schools like UNC expects this document disregarding the expectation for TA/RA/Scholarship funding. All in all, it is a document to declare the enough financial source covering the "whole" education time. However, I am not able to declare such monetary documents, i.e. I do not have enough money. Do you think I should mail and ask them?

Thanks
----------------
Edit:

Well, I have mailed some of them and made some search. Apparently, most of the schools require this document after offered admission. Otherwise, they want you to ignore the monetary section or add 0.00 $ for bank accounts.

Good luck to all.




Return to “Special Concerns for International Students”

Who is online

Users browsing this forum: No registered users and 1 guest