Statement of Financial Support (SFS)
Requirement of Financial Statement
As part of the requirement to receive an I-20 from a U.S. School so as to apply for a student (F-1) visa, the U.S. Department of Homeland Security (DHS) requires that we confirm an international student applicant’s funds (and/or that of a sponsor’s) to verify that funds are readily available to cover at least 2 consecutive semesters of full-time study. Funds available should cover tuition, room and board, books and supplies and other non-educational matters.
It may be helpful for you to review the financial charts as you calculate funds required. We want to ensure you know exactly what you will need to pay for your education. However, there are two areas that make it difficult to provide a definite amount when financially planning for an international student’s ability to come to study in the U.S. First, the most estimated figure is the personal/miscellaneous fee, which may never be needed by a student but must be factored into the overall banknote amount; even students receiving a full scholarship must at least show this amount as readily available. When a U.S. College or University admits an international student, before being able to issue an I-20, we must assess for more than just tuition, room and board; we must also consider expenses for non-educational needs (e.g., personal hygiene items, extracurricular activities, travel, etc.).
The second estimate is the fee for books and supplies. Because you may not know how much it will cost over a period of two semesters, we use an estimated average supplied by the Bureau of Labor Statistics that is based on a survey of all U.S. Colleges & Universities in the western hemisphere. Although the cost may be higher than the actual cost of books and supplies over 2 semesters at UDM, we are required to include an amount for books and supplies into the overall banknote amount.
Keep in mind that while you must show the overall banknote amount as listed in order to receive an I-20, there is a way to forecast a more realistic amount of your education at UDM. Deduct the personal/miscellaneous fee and the books and supplies fee. Then, if you will not live on the UDM Campus and use one of our meal plans, deduct room and board too. Finally, multiply the final figure by 2 (for graduate students) or 4 (for undergraduate students). NOTE: every year, tuition and living expenses increase. So, understand that, even when you use this method to get an estimate of the total cost of your education at UDM...this is only an estimate.
We can accept a reduced financial statement/banknote amount for international student applicants who are currently in the U.S. on work visas (e.g., H-1B, H-4, L-1, L-2, TN, or TD); for Canadian Border Commuter Students who will attend UDM as part-time students; and for international students receiving grants, scholarships, and tuition discounts approved by the University of Detroit Mercy.