University of Sunderland

Proof of Financial Ability

The majority of USA and Canadian universities require that students provide proof that you can support yourself financially whilst on exchange at their university. As an example, the table below shows the amounts that Towson University estimate a student would need to have available during the exchange period.

Please note that this is non-negotiable. Without this proof, you will not be issued with the documentation to obtain your visa. The amounts also differ between universities and in some places will be a lot higher.

Therefore, if you were only taking part in a semester 1 exchange, you would only need to prove you have $7000 available. If you were going for a full year the amount would increase to $14700. It is very important that you do your research about the amounts you need to prove you have available.

Proving these amounts

The host universities will give instructions as to how you are to prove these amounts but most universities will ask for the following:

• Documentation from an educational agency (such as the Student Loan Company)
• Other organisation providing funding to you (if applicable)
• Bank statements showing any amount that you would be providing yourself or from a family member (these often need to be signed or stamped by someone at the bank)

This proof of financial ability is part of the process of obtaining your visa and each university may have slightly different requirements. It is very important that you follow their instructions very carefully.