Financial Student Visa Requirements to Study Abroad

Student visa requirements to study abroad: Studying abroad is a huge decision in one’s life that requires large planning and plotting. So a lot of attention needs to be put into the documentation and filing process. The visa filing process can be a bit prolonged. It starts with the collection of mark sheets and transcripts to appear for IELTS exams. After that paper-work is the most important step followed by applying for admission offer letters and then the final visa filing. Our help at SEIC ensures you a transparent visa process for your dream destination.
 
Financial documentation is a chief component of the application process. The financial need is different for each country and university following a particular process.
 
Here, we will give you a detail of all the financial documents required to study abroad. As these are suggested by our professionals for various countries.
Student visa requirements for-FINANCIAL REQUIREMENTS FOR STUDY ABROAD PROCESS- SEIC

What are the student visa requirements?

It refers to the proof of funds that the student will be able to support his education as well as other expenses. As it is one of the primary requirements in the process. Here is an approximation of the funds you would be requiring-
  • United Kingdom – £11,385 per year
  • Australia- AUD $ 19,830 per year
  • Canada- CAD $10,000 per year
  • Germany- €8,040 per year
  • France- €615 per month

Student visa requirements for CANADA

  1.  Proof of your Canadian bank account showing the money you have transferred.
  2.  Guaranteed Investment Certificate (GIC) from a Canadian bank.
  3. Proof of a student or education loan.
  4. A bank draft that can be converted to Canadian dollars.
  5. Paid tuition fees proof.
  6. Proof of funds paid from within Canada, in case you are eligible for a scholarship or are in a Canadian-funded educational program.
Tuition can vary significantly between institutions and study programs.

Student visa requirements for AUSTRALIA

  1.  Evidence of financial supporter’s occupation and annual income. Letter from the supporter’s employer confirming employment. Supporter’s personal bank statements and tax returns are also required.
  2. Loan approval letter.
  3. Account Statements of the financial supporter.
The immigration department must be consoled that an applicant, once abroad, will have genuine access to the funds. They claim to cover the travel, tuition, and living expenses for themselves members.
  • Acceptable Funds
  • Fixed Deposits
  • Balance in Savings Account
  • Education loan
  • Personal loan

DOCUMENTS REQUIRED FOR UK

  1. Letter from the bank. 
  2. Passbooks
  3. Bank statements
  4. Letter from a financial institution regulated by the Financial Services Authority.
  5. Letter confirming a loan.

DOCUMENTS REQUIRED TO STUDY IN USA

  1. Original Bank Records (Bank Statements or Passbook) of sponsors for the past six months and/or fixed deposit statement of your sponsors.
  2. Income Tax Returns for the past 3 years (Specifically form 16) (Original)
  3.  Proof of employment of sponsors such as salary slips and/or employment letters.
  4.  Financial aid from the university in the form of a scholarship, fellowship, or an assistantship (TA/GA/RA). In case the applicant chooses to show this, they must require a confirmation that a similar financial aid will be available for the entire duration of the program.
  5. Salary Slip if you’re employed (as applicable)
  6.  Mutual Fund Statement (as applicable)
  7. Insurance Policy Statement (as applicable)
  8. Postal Savings (as applicable)
  9. CA Statement showing a short summary of the proof of funds.
  10. Financial aid from the student’s home government if the government is sponsoring your studies.
  11. Income Tax Returns if you’re employed (as applicable)

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