Required Financial Documents

In order to meet the financial requirements for us to issue their I-20 or DS-2019, students may have financial sponsors.

A financial sponsor is a friend or family member who will be paying for all or part of your education. You will need to upload your sponsor's financial documentation and provide his or her email address in the Financial Documentation stage of your I-20 or DS-2019 application. Your sponsor will then receive an email with detailed instructions for confirming the specifics of their support for you during your education.

If you have multiple financial sponsors, you can add them to the Financial Documentation stage of your I-20/DS-2019 Application. You will need to complete one financial documentation form for each sponsor. After submitting your first Financial Documents form, you can return to the main page of your application, where you can see all the stages of your application. Below the Financial Documents you submitted, a plus sign will appear with the words "Add Financial Documents."

If you are receiving a scholarship through The New School, scholarship through another organization, a grant, or a loan, you can deduct that amount from the total you need to show. If your funding is not from The New School, you will need to upload proof of this funding source within your I-20/DS-2019 Application. The proof must clearly show your legal name, the name of the awarding organization, be less than six months old, and show the amount of funds being granted to you (specifying currency).

If you are receiving free room and/or board (food) in the U.S. during your stay, you will be required to complete this Affidavit of Free Room and/or Board and submit it as a financial document in your New I-20/DS-2019 Application in iglobal along with supporting documents.

With the successful completion of this Affidavit and submission of supporting documents (lease, mortgage, rental agreement, and/or bank accounts of sponsor), you can then deduct from the total amount you need to show to receive your I-20 or DS-2019.

• If you are receiving free room and board, you have to show $20,000 less.
• If you are receiving free room only, you have to show $18,000 less.
• If you are receiving free board only, you have to show $2,000 less.

Liquid funds are any funds that can be converted to cash, with no limitations. The best example of proof of liquid funds is bank statements for checking or savings accounts.

Investments, property, mortgages, retirement accounts, stocks, and bonds are not considered liquid funds, as they are not accessible by the account holder until a predetermined time in the future. Proof of employment or salary statements are also not considered proof of liquid funds, as they are not guaranteed.

After you submit your New I-20/DS-2019 Application in iGlobal and upload your financial documents, our team will determine whether the funds shown on the documents constitute liquid funds. If they do not, we will need to delay the issuance of your I-20 or DS-2019 until you can provide proof of liquid funds.

The ISSS office provides average estimated expenses for each program at The New School. The amounts listed in the Estimated Expenses handouts are used to determine eligibility for an I-20 or DS-2019 and do not reflect the exact cost of your program. For detailed information on tuition and fees for your program, please refer to the Tuition, Fees and Billing website. ISSS cannot provide guidance on tuition and fees.

The ISSS office strongly recommends that all new students review the tuition and fees for their particular programs to ensure that they understand their financial responsibility for the duration of their studies at The New School.