Financial Documentation Requirements
International students requesting visa sponsorship must demonstrate sufficient funds to cover Stevens’ estimated expenses for the first year of study (F-1 students) or for the entire length of program (J-1 students), as required by the U.S. government. The ability of students to demonstrate that they will not become a public charge or resort to unauthorized employment in the U.S. for financial support is essential. Information about Stevens’ estimated expenses may be found on the Stevens Graduate or Undergraduate Financial Verification Form.
The financial documents submitted to Stevens for the purpose of securing an I-20 (F-1 visa) or a DS-2019 (J-1 visa) will also be required in their original form when applying for a student visa at a U.S. Consulate or Embassy abroad, and when passing through Customs at the U.S. port of entry. At the time of the visa application, students will be required to present evidence of sufficient funds for the first academic year, and at the discretion of the consular officer, may also be asked to demonstrate that equal funding will be made available for every year of study in the United States.
Student applying for a J-1 visa will be expected to present evidence of sufficient funds for the entire length of study.
Financial Documentation Requirements
All documents must be submitted on the student's online admissions Application Status page.
Photocopies can be provided with the understanding that originals may be requested if necessary.
All financial documents must be the most recent document for the account, issued within 10 months of your program start date in the U.S.
Documents must show liquid assets that can be immediately converted to U.S. dollars. Liquid funds are defined as money that is immediately accessible without any restrictions or penalties. A U.S.-based money market account is acceptable if it can be withdrawn immediately as cash in U.S. Dollars.
Cash in a savings or checking bank account must exceed of required estimated expenses.
Joint accounts must include a Stevens Graduate or Undergraduate Financial Verification Form.
All documents must be English.
Official online bank statements are acceptable if they include the bank's letterhead or logo. Unofficial printouts of screens from an online banking account will not be accepted.
All financial document must show the account holder’s name, date, account number, the account type, the current balance, and the type of currency.
Please note current processing time is minimum 10 business days from complete application submission, depending on the volume of I-20 requests.
Acceptable Sources of Funds
Please view the potential sources of funds below that can be accepted by ISSS.
Bank statement or letter must be on bank letterhead and include the name of the account holder, account number, account type, date, the current balance in the account, type of currency, and be accompanied by Stevens’ Graduate or Undergraduate Financial Verification Form.
Certificates of deposit(s) in the sponsor’s name with a maturity date no later than the start date of the academic term, accompanied by Stevens’ Graduate or Undergraduate Financial Verification Form.
Bank statement on bank letterhead dated no more than 3 months old at the time of submission showing your name, date, account number, account type, the current balance and type of currency.
If you are using a private or education loan, you must provide a statement from the lender showing your name as the loan holder, the amount of the loan, the date the loan takes effect, and the conditions of the loan.
Certificates of deposit(s) in your name with a maturity date no later than the start date of the academic term
Government Agency: Letter must be on the organization’s official letterhead, signed, or stamped, and specify your name as the recipient of the funding and the amount, terms, and duration of the funding (including specific start and end dates).
Private Business (Employer, Family Business, etc.): Scholarship letter must be on company letterhead, specify your name as the recipient of the funding, award amount, and duration of funding. The scholarship letter must be dated and signed by a company official.
The award (scholarship/fellowship/assistantship) letter for graduate students must be signed/dated and specify the student’s name as the recipient of the funding, the amount, terms, and duration of the funding (including specific start and end date). To accept the award, the student must follow the instructions provided along with the award letter.
The award amount will be listed on the I-20 towards the total expenses only if all formalities to accept the award are complete at the time of review.
Any award or scholarship for undergraduate students provided by Stevens will be acceptable once the award letter is available on the student's portal by the Office of Undergraduate Admissions.
Award Letters from Stevens do not need to be uploaded by the student for review as a part of their financial documentation.
Unacceptable Sources of Funds
ISSS is unable to accept the following financial documentation:
Non-liquid funds such as stocks, bonds, life insurance, auto/land deeds, mutual funds, or other investment types
Loan applications and/or conditional loans
Value of neither property nor the proposed sale of such property or property and tax records
Business accounts listed in a company or business name unless they meet the requirements. outlined under “Employer” or “Family or Friends” or "Funding from Other Sources."
Solvency and opinion statement such as a bank letter that verifies "sufficient financial resources" is not acceptable form of financial support
Providence Funds (of any kind)
401K, IRA or similar accounts
Passbook or Deposit Receipts
Personal Property (jewelry, vehicles)
Chartered Accountant Statements or other third party evaluations of funds
Income Tax Return Forms
Salary Letters/Annual Income Letters
Students who will be requiring an I-20/DS-2019 for a dependent must submit additional proof of financial support to cover each dependent. For information on amounts, see the Graduate or Undergraduate Financial Verification Form. Dependents may self-sponsor, showing proof of funding as described under the Self-funding (Personal Funds) section.