Are you dreaming of spending your evening writing thesis in US universities or taking part in inter-university debates? Well, your dream can become true but only when you understand the financial requirements that you need to fulfill. Seeking a daring and gleaming USA study visa isn't all about good marks and dreams. You need to have a hefty amount in your account! So, let's start discussing finances that you need to prepare before you apply for USA study visa - and yes you don't have to sell out the property for this!
Apply for a USA study visa: How Much Money Do You Really Need?
The million-dollar (or should we say multi-lakh rupee) question! When you proceed with the study visa in USA, application, the embassy takes a huge interest in verifying your financial statement. Generally, you need to have enough amount to cover the following services:
Tuition fees: You have to pay around $10,000 to $55,000 annually as per the University's fee structure.
Accommodation: Accommodations are pretty expensive and you will be charged around $10,000–$15,000 annually (depending on facilities)
Additional expenses: You need to have around $2,000 to $3,000 extra for your additional shopping of stationary and personal goods.
To conclude, you can't fall short from having $40,000–$70,000 in your account if you want your visa to get processed.
USA Immigration Consultant: Acceptable Financial Documents
There's a difference between having cash in your account and proving it. Here are the documents you need:
- Bank statement of last 6 months.
- FDs (fixed deposit)
- Student loans from approved banks.
- Scholarship letter (if any).
- Statement to reflect sponsorship (if any).
It's better to connect with an USA Immigration Consultant to get your paperwork done.
Study Visa in USA: What If You Have a Loan?
You know the best part? The US government is completely okay with giving you a visa on a student loan! Now all you need is to connect with an USA Immigration Consultant, so that there's no loopholes in your paperwork and your visa gets processed seamlessly.
Bonus Tip: SEVIS Fee and Visa Application Fee
Paying fees for your USA study visa is important and this is the unskippable part. You are supposed to pay the SEVIS I-901 fee (about $350) in addition to the visa application fee (around $160). You need to make the payment before you go for the interview round. And better be prepared as this decides whether you are moving forward or not.
Final Thoughts: Be Visa-Ready, Not Sorry
On the end note, obtaining a USA Study Visa can be a tough task if you are not ready financially. Once done, your robust financial plan is an easy gateway to the US, for all your educational plans. Thus, gather your paperwork, verify your finances, and then confidently and perhaps with a sly smile, ace your visa interview.
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FAQs on USA Study Visa
1. Are students with an education loan eligible to study in the US?
Yes, students with education loans are eligible to study in the US.
2. Is it mandatory to show fees for an entire academic program to get a US study visa?
Yes, you need to have enough funds to pay fees till the end of your program.
3. Can part-time work cover living expenses while studying in the US?
Part-time work can help with some living expenses, but it may not cover all costs. Students should not rely solely on part-time income and must show sufficient funds.
