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 verify whether their financial support is sufficient in order to issue an I-20 or DS-2019. An international student at St. Thomas will need to show official proof of sufficient funds to cover costs including: tuition and fees, books and supplies, room and board, health insurance (required by state law) and personal expenses.
Applicants must submit official proof of funds sufficient to cover all expenses for an academic year.
Bank Statements/Financial Documentation: Official proof of funding must meet the following criteria:
1. Must be less than 3 months old at time of application
2. Must be signed by a bank official in ink
3. Must either be on original bank letterhead stationery or be stamped by the issuing bank, in ink, with an official bank stamp
4. Funds must be liquid assets only and do not need to be in U.S. dollars
A photocopy of the financial statement will be accepted if it meets the above requitements. An English translation by an official translating agency may be necessary; if so, please provide this along with the documentation you submit. All financial documentation must be received before your immigration paperwork can be issued.
We strongly recommend that you obtain two (2) copies of your original bank statements. One copy will be sent to international admissions and one copy to be presented at your visa interview. St. Thomas does not return original copies of financial support documents.
- 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)
- The University requires all F-1 and J-1 students to purchase the university’s health insurance plan
- These amounts do not include the cost of round-trip travel expenses, which students should plan for as a part of their personal finances
- 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
Citizens of Saudi Arabia follow a different process due to the requirements of their government.