What is the CFR?
A completed Certificate of Financial Responsibility (CFR) is required in order to demonstrate your ability to pay tuition and living expenses.The Monterey Institute is required per U.S.
What if my employer is the financial guarantor?
If you will continue to receive your same salary while attending the institution this would be considered your own personal funds. If your employer will be paying above your salary or specifically for tuition expenses, you should provide a letter from your employer identifying what he/she will be paying.
Can I or my financial guarantor send in photo copies of the bank statements?
No. We need to see original documents before an I-20 can be issued. We can return the original documents to you when we mail you the Form I-20. Be sure you notify us beforehand if you need your financial documents mailed back to you.
Is it okay if I send the financial documents written in my native language?
Yes. If you are sending a bank statement from your bank in your home country then that may be acceptable as long as the date of the statement, amount and currency is clear.
Do I need to submit any supporting documents with my CFR?
Yes. in addition to completing the CFR, you will need to provide a copy of your passport and evidence of your financial support. You or your financial guarantor needs to provide the Monterey Institute with either original bank statements or other official financial documents issued within the last 6 months for your CFR to be considered complete. You will also need original bank documents to present for your visa interview. If you can only get one set of original bank documents, please submit the originals to OIS with your CFR.
How much does the bank statement need to show?
The required amount for the 2013-2014 academic year is $53,551.00, for a two year Master's degree program.
Do I need to submit any supporting documents with my CFR?
Yes. in addition to completing the CFR, you will need to provide a copy of your passport and evidence of your financial support. You or your financial guarantor needs to provide the Monterey Institute with either original bank statements or other official financial documents issued within the last 6 months for your CFR to be considered complete. You will also need original bank documents to present for your visa interview. If you can only get one set of original bank documents, please submit the originals to OIS with your CFR.
Is it okay if I send the financial documents written in my native language?
Yes. If you are sending a bank statement from your bank in your home country then that may be acceptable as long as the date of the statement, amount and currency is clear.
