The I-20 Form is one of the most crucial documents for international students aspiring to study in the USA. However, many overlook the financial aspects tied to this form. This guide will walk you through the entire I-20 process, break down fee payments, and provide solutions to common challenges faced by students.
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What is the I-20 Form?
The I-20 Form, formally known as the “Certificate of Eligibility for Nonimmigrant Student Status,” is a document issued to international students. The form is issued by a Student and Exchange Visitor Program (SEVP)-certified institution. It demonstrates that they have been accepted into the university and have met the educational and financial requirements for their course.
How to Get an I-20 Form?
- Receive University Acceptance Letter
Students must first gain admission to a SEVP-authorised institute by submitting documents that prove their educational qualifications and financial resources to meet university fees and living expenses. Most universities also charge an application fee. The acceptance letter stands as proof of eligibility to be a student in US universities.
- Enrollment Fee Payment
Prospective students have to pay enrollment fees to the university which comprises the seat confirmation fee and the I-20 Form fees. This fee can be paid using a debit card, credit card or through banks or online money transfer portals like ExTravelMoney.
- Submit I-20 Request Form and Documents
The university will provide students with the I-20 Request Form, which must be filled out accurately and submitted. Students must also upload the required identity and financial documents.
- I-20 Form Issuance
The university issues the I-20 Form, which serves as the official confirmation of your admission. This form can be downloaded and signed. It is necessary for further visa application procedures.
Challenges Faced by Students in I-20 Processing
International students often encounter challenges when managing the financial aspects of the I-20 process. This is because the students have to pay the application and enrollment fee to get the I-20 Form. For this they are required to do outward remittance to the university. Common hurdles include:
- Currency Conversion Issues: Most banks and money transfer companies may charge high fees and offer unfavourable exchange rates while sending fees.
- Delays in Fund Transfers: Timing is critical when remitting fees as delay can even lead to rejection. Therefore, a long line of procedures and holidays can affect the timeliness of your fee payment.
- Understanding Financial Requirements: Many students and their families struggle to navigate the documentation process.
Also Read: What Banks Don’t Tell You When Taking Overseas Education Loan
How ExTravelMoney Can Help
At ExTravelMoney, we specialise in international money transfer solutions, offering a seamless experience for students preparing for their studies abroad. We help Indian students make fee payments to their university in the USA. Here’s how we can assist:
- International Money Transfers
We ensure your funds are transferred quickly and securely to meet the financial requirement deadlines for your I-20 Form. Whether it’s paying application, enrollment, or I-20 fees, we’ve got you covered.
- Competitive Exchange Rates
Save on currency conversion with our low exchange rates, helping you maximise the value of your funds. We are partnered with reputed banks and RBI-licenced money transfer companies in India. So we compare rates and negotiate on your behalf so that you send your fees at the most affordable exchange rate.
- Customer Assistance
Our dedicated team of remittance experts is here to assist you with any queries or issues regarding your university fee payment, ensuring a stress-free experience during this critical phase.
How much is the fee for I-20?
Most of the universities charge Form I-20 fees of around USD 200 – 2000. However, this fee is included in the initial enrollment fees.
Why is the I-20 Form Important for a US Student Visa?
- SEVIS Fee Payment
The SEVIS fee funds the management of the SEVIS (Student and Exchange Visitor Information System), ensuring compliance with US immigration regulations and monitoring student activities.
The SEVIS fee can only be paid after receiving the I-20 Form, which includes the student’s SEVIS ID needed for payment. The fee invoice is provided only after the I-20 Form is issued.
- DS-160 Fee Payment
The DS-160 Form is the visa application form. The I-20 Form is required to prove your enrollment to a SEVP-authorised university and your eligibility for an F-1 or M-1 visa application.
- Visa Interview and Biometrics
For your visa application procedures, you must carry your I-20 form along with other documents such as your passport, SEVIS fee receipt, and Form DS-160.
- Proof of Enrollment
Once you reach the USA, students are often asked for Form I-20 at the airport or first day at university/college. Therefore, it is advisable to carry a hard copy of Form I-20 with you.
I-20 Form Sample
The I-20 Form provides critical details about the student’s details, program and institute information, employment details (if any), and instructions.
Pro Tip: The two student visa classes are F-1 (for academic and language students) and M-1 (for vocational students). The visa class mentioned in your I-20 form shall determine the visa issued to you by the US embassy. Even though the form content is the same for both visa classes, it is important to ensure that the class is accurate.
Processing Time
Issuance of the I-20 document is typically completed by the DSO of the university within 2-3 weeks after the form request is submitted.
Validity Period
The Form I-20 is valid from the course start date until the end date specified on it. Students are allowed to enter the USA 30 days before the course begins. They must exit the country within 60 days after the course ends.
Securing your I-20 Form is a major challenge in your journey to studying in the USA. Need help with your fee payments to get an I-20? Trust ExTravelMoney to make your international money transfers stress-free and cost-effective. Contact us today for personalised assistance!
Also Read: How To Open A Bank Account In USA For Indian Students
Ann Mariya Job is the Associate Content Writer at ExTravelMoney.com. Holding a Bachelor’s in Journalism, she excels in creating deeply researched, engaging, and crisp content. Her work helps readers understand the complexities of foreign exchange, overseas money transfers, and international travel.