Quote:
|
Originally Posted by swaroop
I understand that a financial statement (either from myself/my sponsor/my bank manager) is to be sent along with my application packet. This financial statement will prove to the university that I possess enough liquid cash in a current account to get me through atleast the first year.
|
Yes, some schools like the University of Illinois require it. I believe that although all applicants are required to submit it, it's really intended for M.S. candidates who intend to fund themselves.
Most Ph.D. candidates will usually not go to a school where they need to fork out cash up front.
Quote:
|
My 1st question: Is sending this letter a must during application period? or can i do this after getting an admit ?(that could be with/without aid) ?
|
I think you should look at your application checklist. If it is considered part of the application package, you must submit it in order for your application to be considered.
Quote:
|
This money for one year I am talking about is what i am going to get after requesting a few relatives to invest in me and lend the cash.
|
When I submitted my financial statement, I had nowhere near the amount required for 1 year of residency, which was US$36,000. They admitted me anyway.
Quote:
|
MY second question: Would the university tend to not even consider me for an RA/TA ship because I would have shown financial strength for an year anyway?
|
It depends on the university's policy. If you're an M.S. student, they probably won't offer you an RA/TA ship in the first semester anyway. But once you're there, you can always apply for a TA-ship. They can't turn you down then.
Most international students know this: once you have one foot in the door....
Quote:
|
My third question: What is the minimum period I would need to have the money in the bank prior to the date of application ?
|
I don't think the university is going to check on your account balance. They can't, at any rate.
I suppose you can just pool your money, put it in the bank for one day, get a statement from the bank manager, and then disburse the money to your relatives the next day.
The purpose of the financial statement is really only for them to assess if they ought to admit you without funding. You see, I believe the logic goes like this:
M.S. funding logic
If candidate fits profile and is exceptional: offer admission and funding
If candidate is strong but does not fit profile, but has enough money to attend for 1-semester so we can assess him during his 1st semester at no risk to us: offer admission without funding.
If candidate is strong but lacks certain things, and has no money to attend: do not offer admission at all. Too risky.
If candidate is weak: do not offer admission at all.
But don't quote me on that.