<p>I just got an e-mail from MIT saying that they can't issue me a visa (itl. student) unless my family has upfront funding for a whole YEAR ($59 000).</p>
<p>Having almost 60k just sitting in a bank is obviously a very huge ask for any family and apparently under 'US federal law' they 'can't sign the I-20' unless they see 60k in a bank account?</p>
<p>Is this true?</p>
<p>I find it very, very difficult to believe that ALL international students going to any university in the US must be able to pay up front for a whole year otherwise they don't get a visa?</p>
<p>It's seems just so incredibly unreasonable not to allow me to go to MIT despite the fact I passed the admissions process (as an international!) AND my family is certainly able to pay?!? Especially when we are going to be paying bi-annually anyway?</p>
<p>You don’t have to pay up front. Just the first semester up front like everyone else. Then pay the second semester in full when it is due But you have to show you have the total academic year expenses (including travel back and forth to your native country) available. That is the rule for a student visa. And that is the way it should be. You will have to show these funds every year in order to get the student visa renewed. </p>
<p>“Financial evidence that shows you or your parents who are sponsoring you has sufficient funds to cover your tuition and living expenses during the period of your intended study. For example, if you or your sponsor is a salaried employee, please bring income tax documents and original bank books and/or statements. If you or your sponsor owns a business, please bring business registration, licenses, etc., and tax documents, as well as original bank books and/or statements”</p>
<p>Keep in mind your visa will not allow you to work while in the US.</p>
<p>Yes, you have to SHOW that you have all funding for the year in some acct(s). </p>
<p>Many int’l kids are full-pay, and they have to show all money before a visa is granted. Int’ls who get FA only have to show that FA and their family money will cover costs.</p>
<p>The US doesn’t want kids coming to the country and then not having enough money to live on or to go back home with. That would happen if visas were granted without showing the money.</p>
<p>What a lot of people have told me they did when they had this predicament, was get a family member to lend you the money you need to have the full amount in your bank account, get the statements, and once you’ve got your visa you can return the money. Fortunately we didn’t have this problem, but yeah, it happens.</p>
<p>It doesn’t have to be sitting in a bank account. If your parents have assets such as stocks and bonds, an account statement showing a value of >60k will work too. Since you seem confident that your parents have the money, some of it must be in a documentable form.</p>
<p>It’s not just the United States that has that requirement - when I studied abroad in the United Kingdom, I had to show that I had the entire cost of attendance including living expenses and air fare available before they would issue me a student visa. But I knew that in advance because I checked the student visa requirements before I even applied to the program…</p>