Financial statement - I'm confused.

International Students
1

<p>Hi all,</p>

<p>I’m a citizen of Malaysia who’s going to apply to US colleges in a couple of years. I’m trying to gather as much info as possible right now, but I don’t understand much when it comes to the financial statement.</p>

<p>I read that every college is required by law to request a financial statement from each international applicant, but is this what they’re talking about? [Rutgers</a> | Rutgers Admissions](<a href=“http://admissions.rutgers.edu/applynow/moreforinternationalapplicants/financialdocumentationandthei20process.aspx]Rutgers”>http://admissions.rutgers.edu/applynow/moreforinternationalapplicants/financialdocumentationandthei20process.aspx)</p>

<p>Then I see this section in which you have to basically tell them how you’re going to pay for all four years, $45k per year, from personal savings, scholarships, loans etc. But what if I CAN’T pay for all four years? I think I’ll be able to secure sufficient financial aid from private colleges, so I’m counting on that. But how do I deal with this form? Just find someone who has the money and is willing to help me with the documentation, and then turn to financial aid, instead of the ‘sponsor’ on paper, when the time comes?</p>

<p>As for financial aid, how do they gauge your financial background and ‘need’ if you already have to state that you are able to pay for all four years? I can’t pay, but if I manage to find a willing sponsor for the statement, does it mean that I’d qualify as not ‘needy’ enough, or do they just look at my family’s income? </p>

<p>All explanations are highly appreciated to unmuddy this murky little pond of mine. C:</p>

<p>Thanks!</p>

2

<p>Fill in the form truthfully during the application season. And by truthfully, I mean of you can afford $50, put $50 dollars. This(plus all the other components of the financial aid application) indicates you have need.</p>

<p>If and when you are admitted with sufficient financial aid, you will have to fill this for out again, this time indicating the university as a sponsor and indicating the package you got. This form will then be used for the visa application.</p>

<p>Hope I helped. :D</p>

3

<p>Colleges with need-based financial aid for international student usually won’t ask for a Certification of Finances form until after you are admitted. Colleges are required to verify your ability to finance your studies before they may issue your visa documents. Visa stuff doesn’t become relevant until after you are accepted, and you don’t really know how much money you have to contribute until you have a concrete financial aid offer.</p>

<p>On the other hand, colleges without financial aid for international students often ask for a Certification along with the initial application. No need to admit applicants who cannot afford to attend.</p>

<p>If you are applying for financial aid and are asked to submit a Certification of Finances along with your initial application, certify the amount that you can actually pay and put down something like “expected institutional aid” for the rest.</p>