The U.S. government requires schools to determine that individuals can meet expenses without resorting to unlawful employment or public funds while attending college in the U.S.
Students must provide proof of finances for the first year to receive an I-20, or provide proof of financing for the length of the program for a DS-2019, as well as the documentation for how educational expenses will be supported in all succeeding years at Penn State.
What is acceptable as a financial guarantee?
- Financial guarantee materials must be current within 6 months and show an amount sufficient to cover estimated annual expenses.
- Financial Guarantee materials can be:
- Bank Statements of bank letters in your name or your sponsors name accompanied by a signed, dated letter detailing the sponsors relationship to the student and detailing the sponsorship commitment
- Provide fund accounts in your name or your sponsors name accompanied by a signed, dated letter detailing the sponsors relationship to the student and detailing the sponsorship commitment
- Certificates of Deposits in your name or your sponsors name accompanied by a signed dated letter detailing the sponsors relationship to the student and detailing the sponsorship commitment
- Stocks, bonds, or other equities (with the provision that the statement of value must be no more than one week old and we accept only 70% of the total amount) accompanied by a signed letter detailing the sponsors relationship to the student and detailing the sponsorship commitment
- Salary letter from the sponsor's employer indicating the annual income and length of employment
- Terms of Offer of a graduate assistantship or fellowship accompanied by a copy of the letter which was provided with the terms of offer of the assistantship or fellowship
- A sponsorship letter from a corporation or larger business accompanied by a letter detailing the sponsors relationship to the student and detailing the sponsorship commitment signed by an officer of the organization and accompanied by a copy of the organization's annual report or at the very least copies of appropriate support information from the organization's annual report
- A bank statement for a family owned business accompanied by a signed, dated letter detailing the sponsor's relationship to the business and to the student and detailing the sponsorship commitment
- A sponsorship letter from a government entity, international organization, or other major sponsor detailing the sponsors relationship to the student and detailing the specific amounts of their sponsorship commitment
Please note: In the case of sponsorship by a U.S. citizen or legal permanent resident financial guarantee materials above must be accompanied by form I-134 Affidavit of Support.
Financial Guarantee materials cannot be:
- Real property (land, buildings)
- Personal property (jewelry, vehicles)
- Chartered Accountant Statements or other third party evaluations of funds
For examples and more detailed information, visit the Financial Guarantee section on Global Penn State website.