Financial Documentation Requirements

Financial Requirements For U.S. Immigration Documents

ATTENTION: Cost of attendance expenses are subject to change and vary by MIT program and length of study.

FINANCIAL DOCUMENTATION REQUIREMENTS

U.S. immigration regulations REQUIRE official financial documentation BEFORE “Certificate of Eligibility” immigration documents (Form I-20 for F-1 status or Form DS-2019 for J-1 status) can be issued or updated.

  • To receive or update an MIT “Certificate of Eligibility” immigration document, students MUST upload valid financial documentation through their iMIT portal account.
  • The submitted documents MUST meet or exceed the total cost of attendance for the student’s MIT program, including tuition, living expenses, health insurance, and related fees.

Key Financial Documentation Information

Financial documentation is REQUIRED not only for the MIT International Students Office (ISO) to issue “Certificate of Eligibility” immigration documents, but MUST also be kept and presented at later stages of the visa sticker/stamp and entry process. Individuals MUST carry copies of their financial documentation:

  • When applying for a U.S. entry visa sticker/stamp at a U.S. Embassy/Consulate abroad.
  • When entering the U.S., U.S. Customs and Border Protection (CBP) officials may request this information.

The published cost of attendance for each MIT program is available on the iMIT portal when requesting an MIT-issued “Certificate of Eligibility” (Form I-20 or Form DS-2019). However, for a detailed breakdown of expenses, including tuition, fees, books, supplies, housing, food, and transportation, students should review the MIT Student Financial Services (SFS) websites for both Undergraduate and Graduate Students.

MIT-sponsored individuals in F or J student status MUST carefully review the information below to ensure that the financial documentation they submit to the ISO meets ALL requirements. Failure to follow these instructions will delay the processing of their Form I-20 or Form DS-2019 “Certificate of Eligibility” immigration document(s).

ATTENTION: The ISO reserves the right to request additional financial documentation if necessary to complete the processing of a “Certificate of Eligibility” immigration document, and to ensure that individuals are appropriately prepared for a visa sticker/stamp interview and entry to the U.S.

IMPORTANT REMINDER: Individuals MUST retain all original financial documentation required for a visa sticker/stamp application and entry into the U.S.  

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**TIPS TO EXPEDITE PROCESSING**

To ensure the successful processing of a “Certificate of Eligibility” immigration document (Form I-20 or Form DS-2019), individuals MUST prepare clear, concise, and valid financial documentation.

The ISO strongly recommends following the guidance below when gathering and submitting financial documentation:

  • Keep Documentation Simple, Liquid, & Current: Financial documents MUST be recent (issued within the past six (6) months) and show readily available funds.
  • Submit ONLY the Required Evidence: Individuals MUST retain the original documents for use during the U.S. visa sticker/stamp interview and at a U.S. Port of Entry.
  • Submit a Cover Letter: Include a brief cover letter summarizing all financial documents submitted and providing currency conversions into U.S. dollars (USD) for any foreign-currency amounts.
  • Consolidate Financial Documentation: Individuals MUST combine all financial information into one (1) clear, comprehensive document or letter whenever possible, rather than uploading multiple files.
    • NOTE: Provide ONLY one (1) comprehensive document/letter for each financial institution, listing the total available balance or funding amount.
  • Avoid Submitting Lengthy Transaction Statements: The ISO and U.S. government officials DO NOT review extensive or lengthy financial documentation. Such documentation is NOT recommended and may cause delays.
    • NOTE: For financial documentation longer than two (2) pages, highlight the key information required under the Mandatory Financial Documentation Criteria section (Items #1-#7).

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MANDATORY FINANCIAL DOCUMENTATION CRITERIA

CRITICAL REMINDER: Individuals MUST submit all financial materials carefully and completely. ONLY official, verifiable financial documentation that shows current, available funds can be used to prove financial support.

NOTE: The ISO will contact the individual via their @MIT email if additional information or documentation is required.

When preparing to request “Certificate of Eligibility” documents (Forms I-20 or Forms DS-2019) from the ISO, individuals MUST ensure that all financial documentation meets the requirements listed below. Submissions that DO NOT meet these standards will delay processing.

All Financial Documentation MUST:

  • 1) Be issued on the official letterhead of the organization or financial institution.
  • 2) Be issued within the past six (6) months at the time of submission.
  • 3) Be in English or accompanied by a certified English translation of the original document.
  • 4) Be signed by an authorized official, such as an officer, supervisor, or administrator.
    • NOTE: Institutions may also include an official stamp for authenticity.
  • 5) Clearly state the name of the individual and/or sponsor, as well as the date of issuance.
  • 6) Clearly indicate the total amount of available funding or financial support.
  • 7) Clearly show sufficient funding or financial support to cover the TOTAL cost of attendance for the MIT program, including:
    • Tuition
    • Living expenses
    • Health insurance
    • Dependent costs (if applicable)
    • Other required fees

COMPLIANCE ALERT: All financial documentation MUST reflect either 12 months of expenses – OR – the entire program duration (e.g., 9 months for a 9-month program).

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Personal Funding (Self-Sponsored)

Individuals who will provide their own financial support MUST ensure that all financial documentation submitted meets the following requirements:

  • Comply with all requirements listed above in the Mandatory Financial Documentation Criteria section (Items #1-#7).
  • Provides precise account details, including the account holder’s name, issue date, and account type (checking, savings, or certificate of deposit accounts ONLY).
  • Shows the total amount of funds available for withdrawal from the account(s).

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Individual or Family Sponsorships

Individuals whose financial support is provided by an individual sponsor (such as a parent, relative, or other personal supporter) MUST ensure that all financial documentation submitted meets the following requirements:

  • 1) Comply with all requirements listed above in the Mandatory Financial Documentation Criteria section (Items #1-#7).
  • 2) Provides precise account details, including the account holder’s name, issue date, and account type (checking, savings, or certificate of deposit accounts ONLY).
  • 3) Shows the total amount of funds available for withdrawal from the account(s).
  • 4) Includes a signed and dated “Financial Affidavit of Support Letter” from each family member providing support. The letter MUST include:
    • a) The full name of the individual being sponsored.
    • b) The sponsor’s biographical details (e.g., full name, address, and contact information), and their relationship to the individual.
    • c) The sponsor’s commitment to provide financial support.
    • d) The duration of financial support.
    • e) The total amount of support being provided (in U.S. dollars).
      • NOTE: If a sponsor will also support the individual’s dependent(s), this MUST be clearly stated, and the full names of the dependent(s) MUST be included in the letter.
    • f) The sponsor’s original handwritten signature and the date of signature.

IMPORTANT: An example of an acceptable “Financial Affidavit of Support Letter” for students and their sponsors can be found on the ISO website [here].

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MIT Academic Sponsorship

Individuals whose financial support is provided by MIT through an assistantship, fellowship, or scholarship MUST ensure that all financial documentation submitted meets the following requirements:

  • 1) Comply with all requirements listed above in the Mandatory Financial Documentation Criteria section (Items #1-#7).
  • 2) Confirms the total cost of attendance for the specific MIT program, including tuition, living expenses, stipend, health insurance, and applicable fees.
  • 3) Specifies the type of financial support being provided (e.g., Assistantship, Fellowship, Scholarship).
  • 4) Clearly details the following:
    • a) The exact amount of financial support that is being provided.
    • b) The duration of the financial support (i.e., the start and end dates of the funding period).
      • Including whether the support covers nine (9) months (Fall and Spring terms) or twelve (12) months (Fall, Spring, and Summer terms).
        • NOTE: If the support only covers nine (9) months and the program extends beyond that period, the student MUST provide additional financial documentation for the remaining months.
    • c) The exact expenses covered (e.g., tuition, stipend, health insurance).
    • d) Whether dependent support is included.

IMPORTANT: Examples of an acceptable “Department Support Letter” for students can be found on the ISO website [For New/Incoming Students and Current Students].

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External Sponsorships (Companies, Governments, & Organizations)

Individuals whose financial support is provided by an external sponsor, such as a company, government, or organization, MUST ensure that all financial documentation submitted meets the following requirements:

  • 1) Comply with all requirements listed above in the Mandatory Financial Documentation Criteria section (Items #1-#7).
  • 2) Confirms the total amount ($USD) and duration of funding the student will receive for the specific MIT program.
  • 3) Clearly details the following:
    • a) The exact amount of financial support that is being provided ($USD).
    • b) The duration of the financial support (i.e., the start and end dates of the funding period).
    • c) The exact expenses covered (e.g., tuition, living, stipend, health insurance).
    • d) Whether dependent support is included.

IMPORTANT: An example of an acceptable “External Sponsor Support Letter” for students and their sponsors can be found on the ISO website [here].

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Personal or Educational Loans

Individuals whose financial support is provided through a personal or educational (student) loan MUST ensure that all financial documentation submitted meets the following requirements:

  • 1) Comply with all requirements listed above in the Mandatory Financial Documentation Criteria section (Items #1-#7).
  • 2) An official loan approval letter from the lending institution MUST:
    • a) Clearly state the borrower’s full legal name.
    • b) Confirm that the loan has been APPROVED for educational purposes, specifically for study at the Massachusetts Institute of Technology (MIT).
    • c) Specify the total loan amount in U.S. dollars (USD).
      • NOTE: Certified student loan approval letters are considered personal funding, unless the loan is issued through MIT-affiliated lenders (e.g., College Ave or Prodigy Finance).
  • 3) Documentation confirming that the borrower has officially accepted the loan, even if the loan funds have not yet been disbursed or received.

IMPORTANT: An example of an acceptable “Loan Approval Letter” for students and their lenders can be found on the ISO website [here].

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UNACCEPTABLE FINANCIAL DOCUMENTATION

COMPLIANCE ALERT: Under U.S. government regulations, MIT is REQUIRED to verify that all submitted financial documentation demonstrates sufficient funds to cover all estimated educational and living expenses before issuing a “Certificate of Eligibility” immigration document (Form I-20 or Form DS-2019).

IMPORTANT REMINDER: Both a U.S. Embassy/Consulate and U.S. Customs and Border Protection (CBP) will review financial documentation to confirm eligibility for a U.S. visa sticker/stamp and entry into the U.S.

The following types of financial documentation are NOT acceptable for MIT processing or for U.S. government purposes:

  • Future or anticipated U.S. work/employment income, including job offers or salary projections.
  • Valuations of property or personal assets, such as real estate, jewelry, or written statements of intent to sell such assets.
  • Statements from chartered accountants or similar.
  • Retirement, pension, provident fund, or life insurance policy accounts.
  • *Stocks, bonds, or investment accounts.
  • Tax return records.
  • Credit card statements or card limits.
  • Cryptocurrency holdings or accounts.

*ATTENTION: Stocks, bonds, and investment accounts are NOT typically accepted by U.S. immigration officials as valid forms of financial documentation.

*Use of Stocks, Bonds, or Investment Accounts: Individuals who choose to submit stocks, bonds, or investment account statements as part of their financial documentation MUST ensure that all submitted materials meet the following requirements:

  • The documentation MUST clearly state that the funds are available for educational purposes.
  • The documentation MUST include the exact date(s) when the funds can be withdrawn or will mature.
  • The maturity or withdrawal date MUST be immediately available or, if newly admitted, available by the MIT program start date.
  • NOTE: Students are strongly encouraged to review the specific U.S. Embassy/Consulate website or contact them directly to confirm whether such documents will be accepted for the visa sticker/stamp application process.

CRITICAL REMINDER: All financial documentation submitted to the ISO MUST meet the specific requirements outlined on this webpage and in the resources provided before a “Certificate of Eligibility” immigration document (Form I-20 or Form DS-2019) will be issued.

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Disclaimer: The information on this webpage is only for MIT-sponsored students.

For additional questions, students should first review the ISO Getting Started web pages thoroughly. They are encouraged to use the ISO search tool (located at the top of the ISO website) or consult the comprehensive FAQ section in the ISO Knowledge Base. MIT students may also contact their designated ISO Advisor directly for assistance.

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MIT Division of Graduate and Undergraduate Education