I have tried to help a family friend who is applying for Wheaton College on filling out her “International Financial Verification” form. http://www.wheaton.edu/~/media/Files/AdmissionsAid/Undergrad/App-Forms/int_financial_verification.pdf Her question is how much should her family bank statement show to support her education for 4 years.
In the form, “Section E - EXPECTED SUPPORT FOR EDUCATIONAL EXPENSES” states that “for students who have indicated the ability to fully fund their education, total financial contribution must equal $46,880 x the number of years needed to complete an undergraduate degree at Wheaton College (usually four years total).” In the section, she is supposed to write down the amount of money available from various sources including family savings. If she is getting the same amount of money from her family, $46,800 each year for four years, should the bank statement show that her family has $46,880*4 = $187,520 in their account? Or would a bank statement with $46,880 (and a bit more) suffice? Her family has enough to support her through the 4 years. I wonder what the limit amount Wheaton is asking for on the student’s family bank statement. Her father passed away, and her mom was able to support the family without job. Recently she is working again. However, her salary would not be able to fully cover the daughter’s education. If the family would provide the full amount for the daughter with the family savings, is it okay to write down $0 on “Family Income from Work?” Thanks in advance.