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Evidence of Funding

Before a Form I-20 (for F-1 status) or a Form DS-2019 (for J-1 status) can be issued by the Glavin Office, a student must demonstrate adequate funding for study at Babson.  

New F-1 Students:  Funding equal to the total expenses for one year of study at Babson must be demonstrated. The Glavin Office must be reasonably assured that funds will continue to be available for the duration of the student's program.  

New J-1 Students & Scholars:  Funding equal to the total expenses for their entire program of stay at Babson must be demonstrated.

Current Students Extending their F-1/J-1 Status:  Funding to cover tuition (if applicable), living expenses, insurance and personal expenses for the extended period must be demonstrated.  If you are unsure how much funding you must show, please email isss@babson.edu.

Dependent Expenses: If a student or scholar will be accompanied in the U.S. by a spouse or child(ren) in dependent immigration status, funding to cover their expenses in the U.S. must also be demonstrated (click here for details).

Acceptable Funding Documents:

  • Bank statement/bank letter* (see specifications below)
  • Award/invitation letter from Babson indicating funding from Babson
  • Scholarship letter from home school or government

All documents provided must be in English and must verify liquid funds— money that can be withdrawn at any time to cover the cost of study in the U.S. 

 

* Bank statement/bank letter must include:
  • Date (must be within the past six months)
  • Bank account number
  • Name of the bank account holder** (see guidance below if the account holder is not the student)
** If the bank account holder is not the student:
  • A sponsor statement from the bank account holder must be provided to verify that these funds are available for the student’s study in the U.S.

 

Please note: if applying for a visa, the U.S. consulate/embassy to which you are applying may have more specific requirements for funding documentation. Consult the consulate/embassy website for details.

 

If you have any questions about funding documentation, please email isss@babson.edu.