Financial Documentation Requirements

The ISO requires proof of financial documentation in order to issue new or updated Form I-20s or DS-2019s. For new students, this information should be submitted to the ISO via the online forms at iMIT.mit.edu. The required amount depends on the program and the length of study.

Please read the information below carefully and submit financial information to the ISO only as instructed here. Failure to submit documents and information as instructed will delay the processing of your Form I-20 or DS-2019.

Keep all the original documents, as you will need them during the visa application. All submitted documentation must be in English or include certified translations along with original documents. The ISO may also request further financial documentation, if necessary.

For more detailed information regarding the cost of attendance, including specific costs for tuition and fees, books and supplies, housing and food as well as transportation, please visit the MIT Student Financial Services (SFS) website:
*Undergraduate student link: https://sfs.mit.edu/undergraduate-students/the-cost-of-attendance/annual-student-budget/
*Graduate student link: https://sfs.mit.edu/graduate-students/guide/grad-cost-of-attendance/

Please note that published costs of attendance for visa purposes is available in iMIT when submitting request for the Form I-20 or Form DS-2019 based on a student’s academic program at MIT.

All personal and family financial statements must:

  • Be issued on official bank letterhead
  • Be issued within the last 6 months
  • Be signed by a bank official
  • Verify the specific amount of support. Feel free to convert the currency for the purpose of completing ISO forms. However, you may submit the statement in your country’s original currency.
  • Verify that funds are available from checking/draft, savings, or certificate of deposits accounts only. Certificate of deposit accounts must mature by the program start date of your initial term at MIT in order to be considered. All funding from these accounts must be readily available.
  • Utilizing stock, bond, or investment accounts are generally not accepted, as they involve future maturity dates or limits on immediate withdrawal. However, if you can provide an official letter/documentation showing that these funds are immediately available for withdrawal, and confirm the actual amount of funds that would be immediately available upon withdrawal, this documentation will be reviewed and may be acceptable for Form I-20 or Form DS-2019 issuance.
    [NOTE: U.S. Embassies/Consulates may not accept stock/bond/investment account funding documentation that does not demonstrate the funds are already withdrawn and available; please consult the U.S. Embassy/Consulate website and/or contact the Embassy/Consulate to confirm acceptable documentation.]
  • Cryptocurrency accounts are currently not accepted.
  • Funds from any other type of account or sources will not be accepted.

All family members who submit financial support documents on your behalf must also provide a letter of sponsorship confirming:

  • They are willing to support you financially
  • The duration of their support
  • The amount of support
  • Their relationship to you

If you are funded through a bank loan, we accept only:

  • The official letter(s), on letterhead and signed, from the loan institution(s) certifying that the loan was APPROVED and the total amount of the loan (in U.S. dollars)

All letters of sponsorship from companies, governments, organizations, etc., must:

  • Be issued on official letterhead within the last 6 months
  • Be signed by a designated official
  • Specifically state the total amount covered, which expenses will be covered, for what duration, and whether the amount includes dependent support
  • Salary or projected income is not acceptable

If you are supported by your department/MIT through an Assistantship or Fellowship:

The letter of admission can serve as proof of financial support. However, you need to be sure that it includes all the relevant information including: what type of financial support you will have, the total amount of funding you will receive, which expenses will be covered, the dates/duration of the award, and whether the funding includes dependent support.

MIT is required by U.S. government regulations to verify that you have available funds to cover your educational costs as estimated above.

Office of the Vice Chancellor