Department of Homeland Security regulations require that incoming international students show proof of funds to cover one year of expenses to obtain an I-20. We require that the funds are liquid, stable in value, and that documentation of the funds is recent. Please see below for additional details.
Cost of Attendance
The exact amount of money that a student must show is available in the I-20 request. Expense amounts listed on the I-20 request are estimates, based on the estimated costs developed by One Stop Student Services. The costs are subject to change each year and your actual expenses may be more or less depending on a variety of factors.
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.
Students who are requesting an I-20 for an F-2 dependent (spouse or child) will be required to show additional proof of funds.
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.
Documentation of personal or family funds must:
- Be no more than 3 months old.
- Demonstrate funds that are liquid (easily accessible) and stable in value.
- Include the financial institution’s letterhead, the name of the account holder, and the date of the document.
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. Letters of support must be signed and dated by the account holder.
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
New students who will receive funding from the university, such as a graduate assistantship, Global Excellence Scholarship or athletic grant-in-aid, should upload a copy of their award letter to the Initial I-20 request.
Current students must provide documentation that their university funding will continue. Documentation of Assistantship funding must include all of the following details:
- Hourly wage and/or annual salary
- Percentage of the appointment
- Start and end dates of the appointment
- Whether or not the appointment is likely to continue beyond the current end date.
Students with assistantship documentation that does not include all of these details may request a letter from their employing department that fits this template.
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)
If your sponsor will pay the University of Minnesota directly, they are considered a "Third Party." Please refer to information through our Third Party Billing office on specifics needed for invoicing and billing. Please share this information with your sponsor.
OPT/STEM OPT salary
Students with an active OPT/STEM OPT authorization can document their salary through an offer letter from their employer, a pay statement, or an employment verification letter from the employer that lists their current salary.
