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Providing Evidence of Financial Support
Please do not submit financial information at the time of application.
If you will need an F-1 or J-1 visa, the University of Michigan is required by U.S. government regulations to obtain documentation proving that international applicants (non-U.S. Citizens) have adequate financial resources to provide for their expenses and the expenses of dependents, for the duration of their program. If you are currently in the U.S. on an F or J visa, you must also send a copy of your most recent I-20 or DS-2019 along with a copy of your passport, I-94 card and visa.
How the Process Works
The Rackham Graduate School will prepare the immigration document separate from the offer of admission. If you are recommended for admission by your respective department and Rackham approves the admission, you will be notified by Rackham to submit the Affidavit of Financial Support for International Students along with the required financial documentation (i.e. bank statements). The admission notification will provide you with the link to obtain the Affidavit of Financial Support for 2010-11. Your financial information will be reviewed upon receipt and if it meets our requirements, AND you have stated your intention to enroll online, the appropriate visa document will be prepared using the U.S. Government SEVIS system. Please do not submit any financial information until requested to do so by Rackham. Financial documents submitted at the time of application will be shredded and placed in confidential trash.
If you are requesting an I-20 for an F-1 visa, you are required to submit evidence of the availability of $57,140 for your expenses for the first year only, and also indicate source(s) of funding for subsequent years. Subsequent years' funding is indicated by use of a checkbox on the Affidavit of Financial Support which you will receive at the time of admission. An additional bank statement is not required. Tuition, fees and other expenses are subject to change. Plan for an annual increase of 5% to 10% of all costs.
If you are requesting a DS-2019 for a J-1 visa, you must provide financial documents to cover expenses for the duration of your program. Over 50% of funding must come from sources other than personal funds.
If you will have children accompany you, there are a variety of child care programs available for children from infants through the teen years.
Depending on type of care, age of child and if this service is part-time or full-time, the costs can range from $55 per week to $200 per week.
Funds may come from a variety of resources, including personal, government, organization, institution and/or school. Your immigration document will be prepared upon receipt of all completed, signed and dated financial documentation forms. Keep copies of all financial documents to present to the U.S. Consulate when applying for a visa.
Estimated Student Expenses 2010-2011
(Fall 2010 and Winter 2011 terms only - September 2010 through April 2011)
| Tuition and Fees for one academic year | $37,820 |
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| Living Expenses (housing, food, utilities, transportation, personal items - 12 months) | $16,800 |
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| Books and supplies (Fall and Winter terms only) | $1,200 |
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| Mandatory Health Insurance (12 months) | $1,320 |
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| Total Estimated Expenses | $57,140 |
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Estimated Dependent Expenses
(in addition to the above estimated student expenses)
| Spouse's living expenses, not including insurance (12 months) | $5,000 |
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| Each additional dependent's living expenses, not including insurance (12 months) | $2,700 |
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| Mandatory Health Insurance for student and one dependent (12 months) | $5,400 |
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| Mandatory Health Insurance for student and more than one dependent (12 months) | $9,600 |
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Requirements for Documentation of Funds
- Official and original dated bank statement must be provided.
- All accounts must be easily accessible and liquid assets.
- Photocopies, scanned, faxed documents or electronic attachments are not acceptable.
- All documents must be in English. Otherwise, an official English translation must accompany the original.
- All supporting documentation must be dated within one year of initial enrollment. If you are in the U.S., you must provide a current bank statement.
- Letters of sponsorship must include exact dollar amount of support (in US dollars) and dates of sponsorship.
The following may not be used as documentation of funds:
- Statements verifying employment and salary
- Insurance premiums and policies
- Property or personal assets (automobiles, land, buildings, jewelry, etc.)
- Non-liquid assets such as stocks, bonds, equities, retirement accounts
- Income tax returns
- Attestations stating only that a sponsor can meet the expenses
Total Estimated Expenses
The following means of support may be included to meet the Total Estimated Expenses for one year of study:
Personal Funds from Student
Provide official and original bank statement in your name, meeting the requirements described above.
Family or Other Individual Funds
Each individual contributing financially to your education must complete the Affidavit of Financial Resources and submit an official and original dated bank statement. In case of jointly held accounts, each individual holder must complete an Affidavit.
Financial Support from Government, Employer or Organization Sponsor
A detailed letter from the sponsor indicating the exact dollar amount being provided, in US funds. This letter must be original and on official letterhead and include the dates of sponsorship. The letter must be dated within one year of initial enrollment.
Note: All credentials submitted for issuing the immigration document become the property of the University of Michigan and will not be returned in original or copy form.
Your Immigration Documents
Your immigration documents will be sent via U.S. Mail. If you prefer to pay for the express mailing of your immigration document, you can provide credit card information with the affidavit of financial support. Please note that our contracted carrier, UPS, limits its delivery areas. Please visit the UPS website for service information and rates.
Article Details
Article ID: 94
Created On: 27 Apr 2009 4:32 PM
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