International Students

Financial Ability: Obtaining the Form I-20

How to obtain your I-20 Certificate of Eligibility. Learn the process for submitting financial proof, meeting funding requirements and requesting your visa document for international students to study at ACU.

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Congratulations on your admission to ACU and welcome to the ACU community! A key part of preparing for a successful transition is establishing a clear financial foundation. 

U.S. federal regulations place strict limits on employment for international students on F-1 visas. Having guaranteed resources in place gives you the freedom to thrive academically without unexpected financial strain.

The Form I-20 Requirements

To issue your Certificate of Eligibility (Form I-20), federal regulations require ACU to verify that you have immediately available liquid funds to cover your estimated costs for your entire first academic year, as well as a reliable plan for the remaining years of your program.

We’ll walk you through the process in the steps below.

Step 1: Calculate Your Family Responsibility

Subtract your scholarships and grants from the ACU estimate for cost of attendance. Reach out to the Office of International Students and Visiting Scholars (OISVS) if you need help calculating this. 

The ACU Standard Estimate for your Educational & Living Expenses

Click below to find the official ACU estimate of expenses for international students:

Subtract Your Confirmed Financial Aid and Outside Scholarships

You can deduct the following scholarships and awards from your cost of attendance:

  • ACU Scholarships and Grants: Official academic or athletic awards granted directly by ACU.
  • External Scholarships and Grants: Verified awards from governments, corporations or private organizations (backed by an official award letter specifying amounts and duration).
  • Graduate Assistantships (TA/GA/RA): Official teaching or research assistantships covering tuition or providing stipends.

Consider Additional Expenses

Although not required for obtaining the Form I-20, it is important to consider additional out-of-pocket expenses you will have during your time at ACU.

While each student has different needs and preferences, we recommend planning for some or all of these expenses in addition to the ones in the official estimate:

  • New computer or phone: $1,500
  • Transportation: $600
  • Personal/miscellaneous (prescriptions, clothing, daily expenses): $2,000
  • Student visa fees (SEVIS and visa application): ~$750
  • Airfare: ~$2,000 (one-way to the U.S.) + ~$2,000 (return flight home)
  • Summer break housing and food (if remaining on campus): $2,500

Step 2: Prepare Your Documents for Proof of Accessible Funds

Gather your sponsor and bank documents that meet the requirements below.

  • Official documents demonstrating liquid cash: Funds must be in cash accounts that can be withdrawn and spent immediately on educational expenses.
  • Three-month established surplus: Bank statements must show a stable cash surplus maintained over at least the last three consecutive months.
  • Sponsorship: All parents and sponsors must complete, print and hand sign an Agreement of Support form and include their bank records.
  • Students with sponsors other than parents must also provide a personal/parental 3-month bank statement with at least a $5,000 USD surplus.

 

Document Requirements

Click on the questions that address your circumstances to learn more about the document requirements.

ACU accepts the following sources for the documentation of sufficient funding:

  • Personal or parental checking and savings accounts
  • Liquid bank certificates of deposit (if fully accessible without lock periods or penalties)
  • Official government, corporate or organizational scholarship letters
  • Approved education loans from a bank (must demonstrate eligibility for multi-year extensions for subsequent years)
  • Business accounts (subject to the limits detailed in the section on business accounts below)
  • Short-term or temporary loans
  • Church sponsorship (certain exceptions apply)
  • Credit cards, lines of credit or pending loan applications

The following cannot be used for year one but can be used for subsequent year funding proof:

  • Real estate deeds, land, or property valuations
  • Stock portfolios, mutual funds, investments, or cryptocurrency

All bank documents must prove an established, stable balance over time and meet these standards. 

Bank statements must: 

  • List the name and address of the bank, the owner’s name and at least the last four digits of the account number
  • Cover at least the most recent three consecutive months showing a consistent monthly surplus
  • Include all pages of the statement
  • Be legible (scans are better than photographs)

A formal bank letter is acceptable in place of monthly statements if it meets all of the following requirements:

  • Printed on official financial institution letterhead with an official seal or stamp
  • Written in English (or accompanied by an official certified translation with balance converted to USD)
  • Explicitly lists the account holder’s name and current balance
  • Lists the average monthly balance for each of the past three months
  • Signed and dated by a bank official with their name, title and contact details
  • Here is a bank letter sample request email and template.

Please note: by submitting bank documents to ACU, the sponsor gives permission for ACU to contact the institution to verify the authenticity of the documents.

  • Business funds can cover no more than 50% of your total required financial amount. 
  • ACU will consider up to 50% of the three-month average balance in the business account as available for a student’s educational costs.
  • Business statements must include proof of ownership and written authorization signed by all account owners permitting the funds for educational use. If a parent or both parents are the only owners, no authorization is required.

Step 3: Request That OISVS Set Up Your Portal Account

Once you have your documents prepared, complete this form to request access to the OISVS portal so you can submit your I-20 request:

  • Within one week, we’ll email you the link and instructions for your next steps!

Our goal is to help you navigate your visa and immigration requirements so you are set up for academic, personal and financial success at ACU. If you run into any questions about your I-20 process, reach out to us at OISVS@groupmail.acu.edu. We are happy to help you prepare for your journey to campus!