Department of Homeland Security regulations require that incoming international students show proof of funds to cover their first year of expenses to obtain an I-20. We require that the funds are liquid and that documentation of the funds is recent. Please see below for additional details.
Cost of Attendance
The amount of money that a student must show is an estimate and based on estimated costs developed by OneStop. The costs are subject to change each year and your actual expenses may be more or less depending on a variety of factors.
The exact amount a student needs to show for their I-20 varies by tuition for their program and other factors and is available in the I-20 request. A general idea of the cost of attendance for degree-seeking students is available from OneStop. Exchange students should contact their program director for cost estimates.
If students are requesting an I-20 for an F-2 dependent (spouse or child), additional proof of funds will be required.
Acceptable Documentation
Here are general guidelines about the types of financial documentation that we accept. We reserve the right to ask for additional information or documentation.
Personal & Family Funds
Personal funds are accounts that belong to the student. Family funds are a family member or another person paying for the student’s education. Personal or family funds can be documented in multiple ways including a bank letter or current statement. The documentation must be on the financial institution’s letterhead and include the name of the account holder and the date of the document. Documents must be less than 3 months old when they are submitted to the university. The funds must be liquid (easily accessible) and stable in value.
If the account does not belong to the student, it must be accompanied by a letter of support. A letter of support must include the account holder’s name, their relationship to the student (parent, sibling, etc) and the amount of money that they are committing to the student’s education. They must also be signed and dated.
Loans
UMN accepts approved loans or lines of credit for I-20 requests. Loan approval letters should be on letterhead and include the following information:
- Name of the person receiving the loan
- If this is not the student, the loan letter must be accompanied by a letter of support.
- Amount of approved loan
Assistantships & Other UMN Funding
If a student is receiving funding from the university, such as a graduate assistantship, Global Excellence Scholarship or athletic grant-in-aid, a copy of the award letter should be uploaded to the I-20 request.
Government & Corporate Sponsor Funding
Government or corporate sponsor funding must be documented through a support or scholarship letter. The letter must be on letterhead and include these details:
- Student’s name
- Program being funded (ex: Master’s in Public Health, Ph.D. in Electrical and Computer Engineering)
- Starting term or period of funding (ex: starting Fall 2025)
- University’s name
- Types of expenses covered (tuition, fees, health insurance, etc)
- Amount of living stipend, if applicable (ex: $2000 per month)