Question about financial amount

[Yiping_Wan]

Hi all,

In the CDF document sent from international student service, $28900 for 1 year. But I sent financial certificates amounting to $45000, the office said I do not have enough money for year 2. So could anybody help tell me what amount should I send?
Millions thanks in advance~~

Regards
Yiping

 

[Peik Looi]

I went with a gut feeling of twice the required amount.

HTH.

 

[Yiping_Wan]

but the program is 18 months, why do they require 2 year amount?

 

[Andy Nguyen]

but the program is 18 months, why do they require 2 year amount?

To allow some overhead ?
Even though it's 18 months program, they use yearly expense estimate to set a required fund. Even it is 13 months, you still have to show sufficient funds for 2 years.
I hope you will not have any problem showing available funds to secure I-20 at Baruch because just think about the amounts you have to show at other programs like CMU where you have to show at least $70K-$90K or so :-ss

 

[dstefan]

Erica, ask Cathy for help with this problem, and post her answer here.

 

[dav2fox1]

Hi, Andy,
I do not think the required fund is reasonable, and so about your CMU case. Here what we care about is Baruch, nothing about CMU. Since the program is only for three terms, why it require fund proof for four terms?
I think the best way is to contact admission office and get some good explaination for it?

 

[Andy Nguyen]

I do not think the required fund is reasonable, and so about your CMU case. Here what we care about is Baruch, nothing about CMU. Since the program is only for three terms, why it require fund proof for four terms?

Please see INS requirements regarding F-1 funds to obtain I-20. MFE is a master program, hence, in most case is a 2-year program. Baruch MFE has only 3 semesters but still a Master program, hence, is categorized under 2-year fund requirement.

http://www.baruch.cuny.edu/studentaffairs/issc/SEVIS_I-20_Freshman.htm
MS/MPA/Executive MBA/MSED/MA 2 years $ 57,800
MS/ABE 2 years $ 59,300

Contact them for the specific amount. See which category MFE belongs to.

I think the best way is to contact admission office and get some good explaination for it?

You can contact the International student service directly. They are the one who issues I-20.
http://www.baruch.cuny.edu/studentaffairs/issc/index.htm

 

[luso]

You don't want to show that you have the exact or close to exact amount of money for your study based on school's estimate. This will give people a feeling that you just "cook up" the financial statement to meet the requirement. Even you get I20 from Baruch, and when you go to US Consulate, they probably will feel the number is a perfect match, and TOO PERFECT. Since it is a 3 semester program, it is reasonable for you to show you have the amount of money of 2-year's estimate and an additional 10-15%. Then you are playing at the safe side.

 

[Yiping_Wan]

ISSC said 2-years fee is necessary for I-20, that's $57800, so expensive!!!!!
How did current international students do last year?? pls share your experience~

 

[alain]

ISSC said 2-years fee is necessary for I-20, that's $57800, so expensive!!!!!
How did current international students do last year?? pls share your experience~

From what Andy said, it looks like these are government regulations.

 

[Peik Looi]

Welcome to AMERICA!

 

[bob]

Welcome to AMERICA!

I understand that leaving is quite inexpensive.

 

[alain]

I understand that leaving is quite inexpensive.

AMEN!!!!

Thanks Bob. I didn't know how to say it in a nicer way.

 

[Andy Nguyen]

ISSC said 2-years fee is necessary for I-20, that's $57800, so expensive!!!!!

I do hope you realize that $57,800 is the amount you need to show on paper !
The actual amount you need for your education, living here is nowhere near that. It will vary depending on lifestyle, etc. The only difference between Internaltional students and domestic students is that the former pays $10K more for the program tuition than domestic students. Everything else is mostly similar (rent, food, book, transportation).
If I remember correctly, there are many ways in Asia where you can get some financial documents showing a certain amount in your account. So that shouldn't be an issue getting I-20. The bigger concern should be on getting the F-1 visa from the US embassy.
Best of luck.

 

[Peik Looi]

There are some forums and websites that could advice you on your options. You could have some sort of bankers guarantee on assets which are also acceptable, not sure about Baruch's policy.

 

[Peik Looi]

Also, read the housing information and cost breakdowns in the general forum of Quantnet. It is realistic. In some sense, providing for twice the amount is good security, at least for 2 years. After that, a suggestion from this thread would be applicable.

 

[naeron]

Hi yiping.. I am an international student from India. I also followed my gut feeling and showed amount a little excess over 62000$.

 

[Yiping_Wan]

Thanks, guys, for your help~~:D
ISSC will send I-20 just through normal mail, sigh~~, another 15 days