April 27th, 2022 at 12:15 am

Can I get a scholarship without submitting my bank statement?

One of the most frequently asked questions when applying for a school is if you need a bank statement in applying for a scholarship. Well, it matters because some scholarships are not fully funded, and some have their tuition fees waived. In order for the university to know you are financially capable, your bank statement will be needed.

If you are applying for a Student Visa, you are normally requested to submit your bank statement. This is to verify if you meet your financial needs. This is because you need to have enough money to cater for your living cost if your scholarship does not cover those expenses.

Who is supposed to submit financial statements?

• All students applying for visas must meet and submit the necessary financial requirements

The financial requirements

• As an applicant, your bank statement should meet a certain financial level. You must also, have the required funds before starting your application online.

How much money do I need on my bank statement?

The mere expense of studying abroad is usually very high for someone from a developing country to bear. That is why scholarships come in place.

In the UK an estimated amount of £12,006 is what you need for your living expenses. Regardless of whether you are staying with relatives. That’s because the cost of living is on the high side.

Financial Evidence of my bank statement

• Your bank account
• A joint account with your parents
• Your parent’s account

Applicants whose parents will be funding their studies should provide these documents:

• First of all your parents need to provide a letter confirming that you are their child and they have agreed to sponsor your education outside
• Also, you should present your birth certificate with your name and that of your parents
• Finally the financial statements of your parents
• However, if a family member is the one supporting you other than your parents, they need to transfer the required amount of money into your bank account or open a joint account with your name on it.
• You can also apply for a students loan that meets the requirements of the country you are studying at.

Required financial statement

• A Personal bank statement
• Also, Letter from the bank
• Additionally, Letter from someone sponsoring you
• More so, Letter from an organization that confirms you have applied for a loan.
• Lastly, Certificate of funds

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