USA · CHAPTER 9
Proof of fundsand loans for the USA.
Your university issues the I-20 only after you prove funds for the first year's estimated cost. At the visa interview, bring the same evidence: bank statements, loan sanction letters, sponsor affidavits and income proof. Loan-funded education remittances carry nil TCS.
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What to show
- Liquid funds covering year one (bank balances, fixed deposits)
- Education loan sanction letter
- Sponsor affidavit with income proof (ITR, salary slips)
- Scholarship or assistantship letter
- Evidence for the remaining years
TCS
Remittances funded by an education loan from a specified financial institution carry nil TCS; self-funded remittances above ₹10 lakh a year carry 2% TCS from April 2026, adjustable against income tax.
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Documents for the I-20 and visa
- Bank statements of you or your sponsors, usually of recent months
- Education loan sanction letter
- Affidavit of support from each sponsor
- Sponsors' income proof (ITRs, salary slips, CA statement)
- Scholarship or assistantship letters
- Property valuation is supporting evidence only, not liquid funds
US-specific loan options
Besides Indian banks and NBFCs, some international lenders lend to Indian students at selected US universities without Indian collateral, usually in dollars. Compare the total repayment in rupees, including exchange-rate risk.
QUICK ANSWERS
Your questions, answered.
Enough to cover the first year's cost shown on your I-20, plus evidence that later years are covered. The figure differs by university.
WHERE TO GO NEXT
Keep going: the pages that help next.
Each card says what you will find there. Looking for something else? See every page on the site.
USA GUIDE
F-1 student visa
F-1 visa from India: I-20, $350 SEVIS fee, DS-160, $185 fee, interview questions, social media details and the 2026 fixed-admission rule.
USA GUIDE
Fees & cost of living
US tuition at public and private universities, health insurance, SEVIS and visa fees and monthly living costs for Indian students in 2026–27.
FROM INDIA
Education loans from India
Study abroad education loans from India: public banks, private banks, NBFCs and international lenders, collateral, margin money, moratorium and 80E.
FROM INDIA
Sending money abroad
Pay foreign university fees from India: LRS limit of USD 250,000, TCS from April 2026 (nil on loans, 2% above ₹10 lakh), Form A2, forex cards and TCS refunds.
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Compare countries
Compare countries on fees, living costs, visa rules and post-study work, in one table.
FRANCE
Study in France
The full France guide: degrees, fees, Campus France, visa, housing and work, chapter by chapter.
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