For full admission, applicants must submit official proof of funds sufficient to cover all expenses for an academic year.
Documentation of financial support must meet the following criteria to be considered "official proof:"
- Funding can be from personal funds, funds from the student's family/sponsor, scholarships, fellowships or sponsoring agencies or governments.
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- Funding needs to be in liquid assets only. Property is not an acceptable source of funding. Retirement funds will be reduced by 40% due to penalties and taxes for early withdrawal, if used before maturity.
- Funds do not need to be in U.S. dollars.
- Documentation of funds needs to be on original bank letterhead stationery with a signature of the bank official in ink or a photocopy of the bank statement will need to be stamped by the issuing bank in original stamp ink and have a signature of a bank official in ink.
Faxes, scanned copies, notarized copies and photocopies (without the original stamp/signature) are not acceptable documentation.
Bank statements can not be dated more than three months prior to the date of application.
Original documents will be returned with the decision letter to the student for visa appointment.
- All statements not in English must be accompanied by an English translation by an official translating agency with the stamp and signature of the translating and contact information of translating agency.
- If funding will be provided by a family member or individual sponsor, their signature is required on the bottom of the financial certification form (PDF). If a signature cannot be obtained on the financial certification form, a signed letter from the family member and/or individual sponsor is required. The letter must include the student's name, the family member or individual sponsor's name, the amount the family member or individual sponsor is willing to fund per year, and the length of time the funding will be available.
- As part of the application process, all students are required to complete and return the financial certification form (PDF). Please read all of the instructions on the financial certification form carefully.
Before obtaining a visa, the student must have appropriate funds available in U.S. currency. The University requires all F-1 and J-1 students to purchase the University's health insurance plan.
An additional $6,000 per year should be added to the proof of support for an accompanying spouse and $3,000 per year for each child. This amount does not include costs of round-trip travel expenses.
These fees are calculated on a 9 month basis. If a student intends to stay in the Minneapolis/St. Paul area and/or take classes during the summer session they must plan their finances accordingly.