9 types of financial documents that every study abroad applicant should know

Studying Abroad is a dream that requires extensive planning, various steps of application, and long meticulous documentation. Starting from collecting the transcripts, one has to furnish scorecards and then write and submit admission essays/ statement of purpose/ LoR and ultimately fill out the long application forms.

Financial documents are also an important component of the same. However, the specifics might change from country to country and university to university. These are mentioned below:

1. Bank Account Statement

2. Loan Approval/ Disbursement Letter: The letter essentially conveys the approval of the bank of loaning the specific amount to the student.

3. Scholarship Letter: In case you have been given a scholarship, you can also attach the scholarship letter as evidence of financial capacity.

4. Affidavit of Support/Sponsorship: It is not a Financial Document but rather a validation of financial support being provided to the student.

5. Bank Letter: These letters clearly mention the nature of accounts held by the student/ sponsor in the banks as well as the balance in the account.

6. Loan Capability Certificate: This is a bit different from a Loan Approval Letter and is often asked by Universities in the US, at the time of admission, without which they would not issue I-20s.

7. CA Certificate: This document specifies the actual assets held by the student/ sponsor as well as the liabilities.

8. Property Evaluation Report: This is more common for Australian and New Zealand Visas. In case a student has applied for a Student Loan and the same was procured against property, the student is also required to attach a Property Evaluation Report alongside the Loan Approval Letter.

9. GPF/ EPF Statement: These are the official statement issued by the Provident Fund Disbursing Authority clearly stating the number of funds available in the account along with the ability to withdraw.

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