Please do not submit financial information at the time of application.
If you will need an F-1 or J-1 visa, the University of Michigan is required by U.S. government regulations to obtain documentation proving that international applicants (non-U.S. Citizens) have adequate financial resources to provide for their expenses and the expenses of dependents, for the duration of their program. If you are currently in the U.S. on an F or J visa, you must also send a copy of your most recent I-20 or DS-2019 along with a copy of your passport, I-94 card (electronic or hard copy) and visa.
How the Process Works
The Rackham Graduate School will prepare the immigration document separate from the offer of admission. If you are recommended for admission by your respective department and Rackham approves the admission, you will be notified by Rackham to submit the Affidavit of Financial Support for International Students along with the required financial documentation (i.e. bank statements). The admission notification will provide you with the link to obtain the Affidavit of Financial Support for 2015-16. Your financial information will be reviewed upon receipt and if it meets our requirements, AND you have stated your intention to enroll online, the appropriate visa document will be prepared using the U.S. Government SEVIS system. Please do not submit any financial information until requested to do so by Rackham. Financial documents and copies of immigration documents submitted at the time of application are not acceptable.
Requesting an I-20 for an F-1 Visa
If you are requesting an I-20 for an F-1 visa you are required to submit evidence of the availability of $64,250 for your expenses for the first year only, and also indicate source(s) of funding for subsequent years. Subsequent years' funding is indicated by use of a checkbox on the Affidavit of Financial Support which you will receive at the time of admission. An additional bank statement is not required. Tuition, fees and other expenses are subject to change. Plan for an annual increase of 5% to 10% of all costs.
Requesting a DS-2019 for a J-1 Visa
If you are requesting a DS-2019 for a J-1 visa you must provide financial documents to cover expenses for the duration of your program. Over 50% of funding must come from sources other than personal funds.
If you will have children accompany you, there are a variety of child care programs available for children from infants through the teen years. Depending on type of care, age of child and if this service is part-time or full-time, the costs can range from $55 per week to $200 per week.
Deadlines for Submission of Financial Documents
The deadlines for submission of financial documents are May 15 for the fall term and November 15 for the winter term. If documents are not received by these dates, we will begin withdrawing offers of admission. You must include a copy of your current passport (and the passport of each dependent, if applicable) when providing your financial documents. Immigration documents will not be prepared without a copy of your passport.
Estimated Student Expenses
Tuition and fees are subject to change at any time as approved by the Board of Regents.
|Tuition and Fees for one academic year||$42,449|
|Living Expenses (housing, food, utilities, transportation, personal items - 12 months)||$19,200|
|Books and supplies (Fall and Winter terms only)||$1,200|
|Mandatory Health Insurance (12 months)||$1,401|
|Total Estimated Expenses||$64,250|
|Spouse's living expenses, not including insurance (12 months)||$5,400|
|Each additional dependent's living expenses, not including insurance (12 months)||$2,900|
|Mandatory Health Insurance for student and one dependent (12 months)||$5,121|
|Mandatory Health Insurance for student and more than one dependent (12 months)||$8,838|
Documentation of Funds
Funds may come from a variety of resources, including personal, government, organization, institution and/or school. Your immigration document will be prepared upon receipt of all completed, signed and dated financial documentation forms. Keep copies of all financial documents to present to the U.S. Consulate when applying for a visa.
Acceptable Documentation of Funds
The following may be used as documentation of funds:
- Official dated bank statement must be provided.
- All accounts must be easily accessible and liquid assets.
- All documents must be in English. Otherwise, an official English translation must accompany the original.
- All supporting documentation must be dated within one year of initial enrollment. If you are in the U.S., you must provide a current bank statement.
- Letters of sponsorship must include exact dollar amount of support (in US dollars) and dates of sponsorship.
Your fund manager must provide terms and conditions for fund disbursement to be reviewed by an admissions officer.
Unacceptable Documentation of Funds
The following may not be used as documentation of funds:
- Statements verifying employment and salary
- Insurance premiums and policies
- Property or personal assets (automobiles, land, buildings, jewelry, etc.)
- Non-liquid assets such as stocks, bonds, equities, retirement accounts (see Indian Provident Funds above)
- Income tax returns
- Attestations stating only that a sponsor can meet the expenses
Total Estimated Expenses
The following means of support may be included to meet the Total Estimated Expenses for one year of study.
Personal Funds from Student
Provide official bank statement in your name, meeting the requirements described above.
Family or Other Individual Funds
Each individual contributing financially to your education must complete the Affidavit of Financial Resources and submit an official dated bank statement. In case of jointly held accounts, each individual holder must complete an Affidavit.
Financial Support from Government, Employer or Organization Sponsor
A detailed letter from the sponsor indicating the exact dollar amount being provided, in US funds. This letter must be on official letterhead and include the dates of sponsorship. The letter must be dated within one year of initial enrollment.
Documents Become the Property of the University of Michigan
All credentials submitted for issuing the immigration document become the property of the University of Michigan and will not be returned in any form.