I-20 Acceptable Proof of Funds

NLU Office of International Student & Scholar Services issues I-20 Certificates of Eligibility to more than 1,000 students every year. We are required by law to verify that each person has sufficient funds to cover the period of their stay in the United States. In most cases, the documentation we require will also be required at the U.S. Embassy or Consulate when applying for the F-1 visa (keep a copy for that purpose). Below you will find a list of the acceptable proof of funds for your I-20.

Acceptable Proof of Funds

Personal funds:

• Bank statements in your name showing balance of account (see below for criteria**)

Private sponsors: including parents (must include both of the following):

• The sponsor's bank or other financial statements with the bank officer's stamp and signature (see below for criteria**) 
• Confidential statement of support
• Note: if the sponsor currently resides in the United States, the sponsor must show proof of U.S. citizenship or permanent residency. Please submit a copy of a USA Passport OR permanent resident card OR USA visa along with confidential statement of support.

Other institutional support/award letters:

• Letter from an employer or another institution on official business letterhead, including a signature showing the amount and length of support
• Salary statements are not accepted

Loan certificates/letters:

• Must indicate your name and the amount of approved loan
• Conditional loan approvals may be accepted only if the condition is the receipt of your I-20.
• Loan applications are not accepted as proof of funding

**Bank/Financial Statement of Criteria:

• should be a single page document showing the criteria below
• showing bank/financial statements from multiple accounts is acceptable
• indicate the financial institution's name
• indicate the account holder's name
• indicate the account type (i.e., savings account, checking account, etc.)
• clearly show the account balance
• be dated within 6 months of the program start date (older statements will not be accepted)
• be translated into English (especially names) unofficial translations are accepted
• clearly show the type of currency
• be from statements that show liquid assets that can be converted to cash

IMPORTANT: The following types of funding are NOT accepted:

• Documents older than 6 months before your program state date
• Income or salary statements
• Funds that are not immediately accessible (fixed deposits, etc.)
• Assets that are not in liquidated form (house, car, etc.)
• Life insurance policy statements
• Pension funds
• Tax return forms or documents
• Credit card statements are not accepted

Submitting/Resubmitting Documents

Make sure all supporting documents are included with your request before you submit them to your enrollment specialist. Missing or separate documents will only slow down the process. Your Certificate of Eligibility (I-20) documents cannot be processed until all proof of funding documents are received.