Financial Requirements For Graduate Applicants
The University of St. Thomas is required by the United States government to examine the financial documentation of F-1 and J-1 students to observe the financial support is sufficient in order to issue an I-20 or DS2019. An international student at UST will need to show official proof of sufficient funds to cover tuition and fees, books and supplies, room and board, health insurance (required by state law), and personal expenses.
Documentation of financial support will need to show the amount listed for the appropriate graduate program and needs to cover an entire academic year of estimated expenses. Click here to view the 2015/16 estimated costs for graduate students.
Financial Support Documents
Submitted bank statements must meet the following criteria:
- Must be less than 3 months old at time of application, and
- Must be signed by a bank official, and
- Must either be on original bank letterhead stationery, or be stamped by the issuing bank with an official bank stamp.
Additional notes about financial support documents:
- In addition to bank statements, students must also complete, sign, and submit a Financial Certification Form (PDF) that outlines the funds available to them.
- If funding will be provided by a family member or individual sponsor, their signature is also required on the bottom of the Financial Certification Form.
- Multiple copies of the Financial Certification Form may be submitted if all sponsors' signatures do not fit on one form.
- If a student will be accompanied by a spouse on an F-2 visa, they must show an additional $6,000/year. For each child who will accompany a student on an F-2 visa, the student must show an additional $3,000/year.
- (Note that these amounts do not include the cost of round-trip travel expenses, which students should plan for as a part of their personal finances.)
- Funds do not need to be in the student's name.
- Funding can be from personal funds, funds from the student's family/sponsor, scholarships, fellowships or sponsoring agencies or governments.
- If a bank account is not in the student's name, write the student's name at the top of the bank statement to ensure timely processing.
- Funds do not need to be in U.S. dollars.
- Funding must be in liquid assets only.
- Property is not an acceptable source of funding.
- The face value of retirement fund accounts and certificates of deposit that will not be mature by the student's academic start date will be reduced by 40% (due to penalties and/or taxes for early withdrawal).
- 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.
- Financial documents may be scanned and submitted by email.
- The University requires all F-1 and J-1 students to purchase the University's health insurance plan.
attn: James Dedon
University of St. Thomas
1000 La Salle Ave, Box 5
Minneapolis, MN 55403