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F-1 Funding Requirements

Michigan State University's (MSU) Office for International Students and Scholars (OISS) issues Form I-20, “Certificate of Eligibility for Nonimmigrant Student Status” and Form DS-2019 or "Certificate of Eligibility for Exchange Visitor (J-1) Status" to eligible F-1 and J-1 students. Forms I-20 and DS-2019 allow an individual to apply for an F-1 or J-1 visa stamp at a U.S. embassy or consulate abroad.

OISS must obtain reliable documentation that the student has financial resources adequate to meet expenses while studying at MSU. MSU is required by the U.S. Department of Homeland Security (DHS) to receive, review and evaluate the availability of financial support before issuing immigration documents. Students must have accurate and up-to-date financial information printed on their immigration documents at all times.

In most cases, the documentation we require may also be required at the U.S. Embassy or Consulate when applying for a visa stamp. You must keep a copy of your financial support documents to present during your visa appointment.

To obtain your I-20 or DS-2019 in a timely manner, follow the guidelines below when submitting your I-20 request or updating your financial proof.


OISS receives the estimated funding requirements for international students annually from the Office of Financial Aid. We update the funding requirements in August of each year. Below are the minimum funding requirements for immigration documents issued between August 2022 to August 2023.

Minimum Funding Requirements for Issuance of I-20 or DS-2019
UNDERGRADUATE Tuition & Fees Living Expenses Insurance Total
Freshmen & Sophomores $43,522 $15,471 $2,284 $61,277
Juniors & Seniors $44,820 $15,471 $2,284 $62,575
         
Masters without Assistantship $30,146 $15,979 $2,284 $48,409
MA & PHD with Assistantship $30,146 $15,979 $2,284 $48,409
PHD without Assistantship $20,222 $15,979 $2,284 $38,485
         

Masters - Marketing Research 6057 (1 Year Program)

$38,061 $28,914 $2,284 $69,259
Masters - Accounting 6019 $34,538 $19,276 $2,284 $56,098

Masters - Finance 6016 (1 Year Program)

$45,561 $28,914 $2,284 $76,759
Masters - Business Data Science & Analytics 6100 (1 Year Program) $39,561 $28,914 $2,284 $70,759
Masters - Business Administration MBA (Full time MBA 6011) $54,930 $19,276 $2,284 $76,490
         
Non-Resident Osteopathic Medicine (1 Year) $43,954 $33,340 $3,426 $80,720
Non-Resident Human Medicine $58,420 $25,276 $2,284 $85,980
Non-Resident Vet Medicine $47,790 $21,498 $2,284 $71,572

Note: The College of Engineering assesses an Engineering Program Fee each semester to all undergraduate students that have been admitted to the College of Engineering. Total funding requirements for upper level undergraduate engineering students is $64,631.

Students enrolled in a one-year program are required to show funding proof for the full length of the program.


Proof of Funding

Acceptable Proof of Funding

Personal Funds

  • Bank statement/letter detailing the student’s name and account balance
  • Review criteria for bank statements/bank letters*

Private Sponsors (including parents, relatives, friends, etc.)

  • Bank statement/letter detailing the sponsor’s name and account balance
    • Review below criteria for bank statements/bank letters*
  • Student and sponsor must complete the Affidavit of Support

MSU Scholarship/Award/Fellowship

  • Scholarship/award/fellowship letter must detail the amount and length of the award

MSU Graduate Assistantship

  • Graduate Assistantship letter must detail name, amount and length of the award
  • Assistantship letter must detail the semester(s) of the assistantship

Government/Company Sponsorship or Financial Guarantee

  • Must detail the student’s name
  • Must be dated within the last 12 months
  • Must detail duration of sponsorship
  • Must detail what the sponsor will cover as part of the sponsorship

Loan Certificates/Loan Letters

  • Must include your name, date and amount of approved loan

Financial support can come from several different sources; however, you must submit supporting documents for each source of funding.

Criteria for Bank Statements and Bank Letters*

Bank statements or bank letters should be a single page document detailing the requirements below:

  • Must include the account balance, do NOT include detailed transaction history
  • Must include account holder’s name
  • Must include financial institution’s name
  • Must be dated within the last 12 months
  • Must be in English, or include a certified English translation;
  • Must detail the currency type
  • Submitting bank statements/letters from multiple accounts is acceptable

Unacceptable Proof of Funding

Funds that ARE NOT immediately accessible or that can change in value, such as:

  • Salary statements or paystubs
  • Life insurance policies
  • Loan applications
  • Retirement funds
  • Credit card statements or lines of credit
  • Trusts
  • Stocks or cryptocurrency
  • Assets that are not in liquidated form (house, car, etc.)
  • Documentation dated older than 12 months

Dependents

Some international students come to the United States with their immediate families. The F-2 and J-2 visa is for a dependent spouse or an unmarried child who is under the age of 21.

F-2 & J-2 status enables dependents to stay in the United States during the student’s academic studies.

Students must provide documentation confirming that they have financial support to fund their dependents. Students must document funding for each dependent. In addition to the full funding requirements for the F-1 or J-1 student, student must also provide the following proof for each dependent:

  1. Spouse: $5,000
  2. Child:    $3,000 (per child)

Students on Optional Practical Training

Students who are recommended or approved for OPT and are not required to enroll for any credits, are required to show proof of living expenses and health insurance only. Students on OPT who wish to add a dependent must review the financial requirements for adding a dependent section.

Prorated Financial Requirements

In rare circumstances, OISS will prorate financial requirements for students who are extending their I-20 for one or two semesters. OISS will consider the following when prorating financial requirements:

  1.  Student in their final semester
  2. Graduate students who are ABD and require one research credit to be full-time
  3. Student who require only one semester extension

In-State Tuition

International students who receive in-state fee classification for tuition purposes should submit proof of their in-state tuition fees. Students who receive in-state tuition and requesting an I-20 or an update to their I-20 should submit a copy of their most recent MSU billing statement with their request. Your MSU bill will be available in StuInfo.

Alternatively, a confirmation via email from the Office of the Registrar, Office of the Controller or Office of Financial Aid detailing your student ID and confirming that you have in-state fee classification is acceptable.

Estimate of Expenses

The financial information detailed on the I-20 is an estimate. OISS receives the financial information detailed on the I-20 from the Office of Financial Aid. Students are encouraged to work the Office of the Controller for more detailed information about their expenses.

Estimated expenses include:

  1. Tuition and Fees (based on full-time enrollment for two semesters)
  2. Living Expenses
  3. Dependent Expenses (for students who have dependents)
  4. Health Insurance