Evidence of Financial Support
To obtain an I-20 form, an F-1 or M-1, each prospective student must submit evidence of financial support adequate to permit the student to study full time without working.
Instructions to Provide Evidence of Financial Support (PDF, )
Current Estimated Annual Costs
The following are the approximate costs determined by the College to be typical expenses for 12 months (including minimum full-time enrollment for one academic year; Fall and Spring Semesters plus living expenses for vacation periods). Non-Credit ESL tuition may be lower than this estimate. However all documents for an I-20 are based on this estimate.
- Tuition and fees: $11,600 *
- Books and supplies: $1,200
- Living Expenses: $15,200 **
- TOTAL: $28,000
*12 billing hours per semester are the minimum required to maintain student status. Montgomery College academic programs require 60 to 69 credits to complete the degree. Non-native English and pre-college level courses may not be applied toward the degree. For more information, please refer to our Current Tuition Rates section (See Non-Maryland Residents tab).
**Living expenses are based on estimates compiled by the MC Financial Aid Office for students living in Montgomery County. This estimate includes the following:
- Room and Board (lodging, food, and utilities provided in the financial sponsor’s home or paid to or for the student, worth approximately $10,000 - the College does NOT have dormitories or a board/meal plan)
- Medical Insurance (major medical coverage for international students averages $800 per year: students must find appropriate medical insurance for themselves).
- Transportation (the average of taking public transportation and using a purchased automobile - about $2,500).
- Personal Expenses (spending money and essentials of $1900 or about $35 per week).
Note: Students accompanied by family members who will have F-2 or M-2 status as "Dependents" must provide an additional $5,000 of financial sponsorship per dependent.
Options for Paying Tuition After Course Selection
- Full Payment by International Wire Transfer
- Tuition Installment Plan(TIP) for partial payments
Evidence of Financial Support
Students requesting F-1 or M-1 immigration status are required to show personal funds or financial sponsorship adequate to permit full-time study without working off-campus. The estimate above includes Academic Expenses (tuition, fees, books and supplies) for one academic year of two semesters and Living Expenses based on a twelve month year. Financial Sponsors must show the ability to pay for all expenses listed, even if the student may not need some of these estimated expenses paid for at this time.
If the Student is Financially Sponsored (by generally not more than 2 individual persons who "promise" financial support), each financial sponsor is required to complete the following requirements:
By signing the Affidavit, the Financial Sponsor agrees, and promises to provide support for the student.
* Montgomery College has partnered with Flywire for simpler and reliable International Wire Transfer. For more information, see the Payments in Full section of the payment options page.
A bank letter showing that the Financial Sponsor has enough funds to cover the student's expenses for the first full year.
A document (in the form of a letter or chart created by the bank) signed by an officer of the bank or other financial institution in which the Financial Sponsor has deposits. The bank may be in any country and the amounts may be listed in any currency (the amount does not have to be in US dollars). The letter should include the following details regarding the account:
- Date account opened
- Total amount deposited for the past year or average balance in account. (US Banks usually only include the average balance).
- Present balance (should show total amount of first year's expenses available. May be a combination of liquid accounts)
A document showing that the Financial Sponsor perceives income that will allow them to fulfill their "promise".
This may be either:
- Letter from the Financial Sponsor’s employer, on official business stationery, showing:
- Date and nature of employment
- Salary paid
- Whether position is temporary or permanent
- If self-employed, or have multiple sources of income*, the Financial Sponsor’s most recent income tax return or similar government document showing the income of the individual who signed the affidavit. For guidance on showing income for self-employed Financial Sponsors outside of the United States, please see the US Consulate webpage for the Financial Sponsor's country. Persons filing United States tax forms, please submit only pages 1 and 2 of the form 1040 from the Personal Tax Return.
* Overseas Financial Sponsors can use similar documents, or contact the office for more information.
A document that shows the Financial Sponsor's agreement and understanding of the "promise".
Financial Sponsor's Obligation Form (PDF, ) (answers our Financial Sponsors most Frequently Asked Questions about their responsibilities)
* Not required to renew and/or extend an F-1 visa
**Self Financial Sponsors must complete International Student Orientation instead of the Financial Sponsor's Obligation form.
***Financial Sponsors should KEEP A COPY of Financial Sponsor Obligation form for themselves
- Financial resources shown must be personal funds that are readily available. Evidence of funds held in retirement or business accounts may not be used.
- The financial documents must be no older than three months at the time the I-20 is signed and no older than 6 months at the time of entry into the United States.
- Financial Sponsors who guarantee room and board must show they are capable of paying the Estimated Cost even if they choose to use a lower cost option.
- Additional documentation may be required.
- These documents above must be received as originals and must be in English or accompanied by a Certified English Translation. US Consulates and/or USCIS may request more details.
The student should submit an original letter from the student’s bank personal saving or checking accounts (ONLY) that indicates the current available balance in United States dollars.
The student MUST complete the MC Non-US Resident Affidavit of Support Form (PDF, ) . Students do not need to notarize their own signature.