Financial Requirements For U.S. Immigration Documents
IMPORTANT NOTE: Cost of attendance expenses are subject to change and vary by MIT program and length of study.
- Financial Documentation Requirements
- Mandatory Financial Documentation
- Unacceptable Financial Documentation
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 documents.
CRITICAL REMINDER: All submitted financial documentation MUST be in English or accompanied by a certified English translation. 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: Students MUST retain all original financial documentation required for a visa sticker/stamp application and entry into the U.S.
MANDATORY FINANCIAL DOCUMENTATION
When preparing to request “Certificate of Eligibility” documents (Form I-20 or Form 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 official letterhead from the bank or financial institution.
- 2) Be issued within the past six (6) months [REQUIRED] at the time of submission.
- 3) Show sufficient funds to cover the total cost of attendance for the MIT program, including:
- Tuition
- Living expenses
- Health insurance
- Dependent costs (if applicable)
- Related fees
- NOTE: Financial documentation should reflect either 12 months of expenses or the entire duration of a program (e.g., a 9-month program = 9 months of funding).
- 4) Ensure all documents are in English, clear, and concise, and list the account holder’s name.
- 5) Be signed and dated by an authorized official of the financial institution and, if applicable, the account holder(s).
- NOTE: Some institutions may also include an official stamp for authenticity.
**TIPS TO EXPEDITE PROCESSING**
- Include a cover letter outlining all financial documentation submitted and converting any foreign currency financial documentation into U.S. dollars (USD).
- Consolidate all financial documentation into one comprehensive document/letter instead of submitting separate financial statements/documents where appropriate.
- For financial statements/documents longer than two (2) pages in length, highlight the required information mentioned above (#1-#5).
Personal Funding
Students providing personal financial documentation must ensure that all documentation submitted:
- Meets the criteria outlined above (#1-#5).
- Provides clear and concise account details, including the account holder(s) name, date, and account specifics (checking, savings, or certificate of deposit accounts ONLY).
- Indicates the amount of funding available for withdrawal from the account(s).
Family Sponsorship
Students sponsored by family members must ensure that all financial documentation is submitted:
- Meets the criteria outlined above (#1-#5) for each family member providing financial support to the student.
- Provides clear and concise financial documentation for each family member, providing financial support to the student, including the account holder(s) name, date, and account specifics (checking, savings, or certificate of deposit accounts ONLY).
- Provides a signed and dated “Financial Sponsorship Affidavit Letter”, by each family member providing financial support to the student, confirming:
- (1) Student’s name.
- (2) The sponsor’s relationship to the student.
- (3) The sponsor’s willingness to support the student financially.
- (4) The duration of the sponsor(s) support.
- (5) The total amount of financial support being provided (in USD) by the sponsor(s).
MIT Academic Department Sponsorship
Students receiving an Assistantship, Fellowship, and/or Scholarship support from an MIT Department (via letter from Graduate Administrator) must ensure all information is included on the documentation submitted:
- Meets the criteria outlined above (#1-#5).
- Confirms the specific MIT program’s total cost of attendance, including tuition, living expenses, stipends, health insurance, and relevant fees.
- Confirms the type of financial support being provided (i.e., Assistantship, Fellowship, Scholarship, etc.).
- Confirms the precise amount and duration of funding the student will receive, which expenses will be covered, the dates/duration of the award, and whether the funding includes dependent support. The letter should confirm if the funding is only available for 9 months (Fall and Spring terms) or 12 months (Fall, Spring, and Summer terms). If a student is receiving only a 9-month award and the program is 12 months or longer, the student will need to provide documentation of an additional funding source for the remaining 3 months.
- For Example: “To accompany this offer, the Department of [“XXXX”] will grant you an [Fellowship, Assistantship, etc.] appointment for the academic year, commencing from September 1, 2024, until August 31, 2025. The following is a breakdown of the funding we expect you to receive during the Fall 2024, Spring 2025, and Summer 2025 terms, pending satisfactory academic performance.
- Salary/Stipend: Minimum Monthly amount of $4,000, total $48,000 for the academic year.
- Tuition Costs: Verified by program selection in iMIT
- MIT Student Health Insurance Program (SHIP): Total $3,237 for the academic year.
**Total value of the [“XXXX”] award/appointment amounts to $XXX,XXX for the twelve-month academic year.**”
- For Example: “To accompany this offer, the Department of [“XXXX”] will grant you an [Fellowship, Assistantship, etc.] appointment for the academic year, commencing from September 1, 2024, until August 31, 2025. The following is a breakdown of the funding we expect you to receive during the Fall 2024, Spring 2025, and Summer 2025 terms, pending satisfactory academic performance.
Banks & Student Loans
Students sponsored by a loan provider must ensure that all documentation submitted:
- Meets the criteria outlined above (#1-#5).
- Certifies that the loan was APPROVED by the lender and specifies the total loan amount in U.S. dollars.
- NOTE: Sanctioned student loan approval letters are considered personal funding, except for loans approved through MIT
- Documentation confirming that the student has accepted the loan will be necessary, even though the funds have not yet been provided/disbursed to the student.
External Sponsorships (e.g., Companies, Governments, & Organizations)
Students sponsored by external sponsors (e.g., companies, governments, and outside organizations) must ensure that all documentation submitted:
- Meets the criteria outlined above (#1-#5).
- Confirms the precise amount and duration of funding the student will receive, which expenses will be covered, the dates/duration of the sponsorship, and whether the funding includes dependent support.
- If the sponsorship provides funding for living expenses, the support letter should confirm the total or monthly amount of the living stipend (preferably in U.S. dollars).
UNACCEPTABLE FINANCIAL DOCUMENTATION
MIT must comply with U.S. government regulations mandating verification of acceptable forms of financial documentation to cover a student’s cost of attendance expenses. In addition, the U.S. Embassy/Consulate and U.S. Customs and Border Protection at the U.S. port of entry will require this documentation for a student to obtain a U.S. visa sticker/stamp and to enter the U.S.
Below are forms of financial documentation that are considered unacceptable to the U.S. government:
- Future U.S. work/employment plans (including job offers or anticipated income).
- Valuations of property or personal assets, including jewelry, or statements and/or intent to sell such assets.
- Statements from chartered accountants or similar.
- Retirement, pension, provident, or life insurance policy accounts.
- Tax return records.
- Credit card statements or card limits.
- Cryptocurrency accounts.
CRITICAL WARNING: Retirement funds, stocks, bonds, and/or investment accounts are typically NOT accepted by U.S. immigration officials as valid forms of financial documentation.
Individuals who choose to submit these types of documents (retirement funds, stocks, bonds, and investment accounts) MUST meet the following requirements:
- The document MUST clearly state that the funds are available for “educational purposes”.
- The document 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 for newly admitted students, available by the program start date at MIT.
- NOTE: Students are strongly encouraged to review the specific U.S. Embassy/Consulate website and/or contact them directly to confirm whether these documents will be accepted as part of the visa sticker/stamp application process.
COMPLIANCE REMINDER: All financial documentation submitted to the ISO MUST meet the specified requirements outlined above. U.S. government regulations REQUIRE MIT to verify that students have available funding to cover their estimated educational expenses and costs BEFORE issuing “Certificate of Eligibility” immigration documents (Forms I-20 or Forms DS-2019).
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.
