Financial Guarantee Requirements
The U.S. government requires schools to determine that individuals can meet expenses without resorting to unlawful employment or public funds.
To be issued an I-20 / DS-2019 you must:
- Be admitted into a full-time program
- Provide the appropriate proof of funds:
- I-20: for the first year of your academic program
- DS-2019: for all years of your program
- Provide documentation for who will cover your educational expenses in all succeeding years at Penn State (see certification of financial support below)
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What Counts as a Financial Guarantee?
Your financial guarantee must be current (not more than 6 months old) and show at least the estimated first-year cost. It should be clear and concise, since it serves as proof that you or your sponsors can cover your first year of study. You may also need to present these documents during your visa interview at the U.S. Embassy.
A financial guarantee usually includes two items:
- Proof of funds
- A signed Certification of Financial Support
Explanation of Estimates
The required financial guarantee reflects the total estimated cost of attendance for your first academic year of study. This includes the following estimated expenses:
