In order to issue an I-20 or DS-2019, ISSS must collect financial documentation from all international students that proves their ability to pay tuition fees and to support themselves financially in the United States for one academic year. This is due to U.S. government regulations.
Students will also need to present these financial documents at their visa interview. Unfortunately, The New School is unable to waive or modify this requirement and all students (and/or their sponsors) must submit financial documentation.
Students will be asked to upload financial documents to their New I-20/DS-2019 Application on iglobal.newschool.edu when applying for their initial I-20 or DS-2019. Students may also be required to submit financial documents in order to return from
a leave of absence, complete a travel restart, or extend their I-20 or DS-2019.
Students’ financial documents must show the estimated average expenses for one academic year of your program. Please click on the links below for information about how much students need to show in liquid funds for each program. If a student is bringing dependents, they must provide additional funding of $9,000 for the first dependent and $4,500 for any additional dependents.
2023–2024 Academic Year Estimated Expenses
Please be aware that if you do not submit acceptable documents showing the minimum amount of funding for the estimated expenses for your program, your I-20/DS-2019 Application will be put on hold and an ISSS applications team member will contact you to
request documentation for additional funding.
If you are receiving a scholarship through The New School, a scholarship through another organization, a grant, or a loan, you can deduct that amount from the total you need to show, but you will need to upload proof of this funding source in your I-20/DS-2019
Requirements for Financial Documents
Financial documentation MUST meet the following requirements:
- Be in English
- Be no more than six months old (and show the date)
- Clearly state the account holder’s name
- Clearly state the financial institution name
- Clearly state the balance of the account
- Clearly state the currency of the account (does not need to be in U.S. dollars)
- Show proof of liquid funds
Acceptable documents in English include:
- Official bank letter
- Copy of bank statement/account summary
- Scholarship award letter
- Admission letter stating financial award
- Academic department letter stating financial award
- Documentation showing loan approval
Unacceptable documents include, but are not limited to tax returns, investments, property, mortgages, retirement accounts, stocks, bonds, and letters of employment/salary statements.
If the financial documents are not in the student’s name, the account holder must confirm that they will be a financial sponsor for the student. This is done online as part of the New I-20/DS-2019 Application forms.