About the Financial Guarantee Form
United States Department of Homeland Security (DHS) regulations require documentation that sufficient financial resources are available to meet a student's prospective educational and living expenses while in the U.S. Therefore, Oral Roberts University requires a guarantee of financial resources from each applicant who expects to obtain or maintain Student (F-1) status. Applicants are required to submit financial documentation that equals or exceeds one full year of expense for the program of study they are interested in pursuing. Adjustments in the financial certification cannot be adjusted based on a student's individual circumstances. This estimate is based upon 12-18 hours each semester for undergraduate studies. A Certificate of Eligibility (Form I-20) will not be issued until this information is provided.
All international undergraduate students who will be attending Oral Roberts University on an F-1 visa must provide documentation of financial support in the amount of $41,024 USD for one academic year of study (currently $41,024 for the 2017-2018 year). Although you are only required to provide documentation that you will have financial support for one year in order to obtain your visa, please be sure that you will have sufficient funds for your entire educational program. Good planning on your part can prevent financial difficulties for you in the future!
Oral Roberts University provides a financial guarantee form to demonstrate your financial ability. Bank statements are required by Oral Roberts University to prove your financial support, since they are also required for your visa interview. The financial guarantee form and any other financial support documents must be current (issued within the last 6 months).
Although scholarships are available for qualified international students, they only cover a portion of tuition and in most cases, may not be relied upon to cover all educational costs. If you are awarded a scholarship from Oral Roberts University, the amount of your scholarship will be deducted from the required $41,024*. You or your financial sponsor must verify that the difference between the scholarship amount and the $41,024* USD will be covered. (For example, if you are awarded a $5,000 USD scholarship per academic year, you or your sponsor must show they will be able to provide $36,024* in financial support.)
You can have up to three sponsors and Financial Guarantee Forms to total the $41,024*.
If you are planning on living with a sponsor off campus, they must fill out an Affidavit of Support. They must complete this to show they are able to support you living with them. The Housing Affidavit can be completed by a separate person than the Financial Guarantee Form. If the Housing Affidavit is completed it will cover the Room & Board portion ($8,750*) of the total cost. You will also need to petition with the respective Dean of Men or Dean of Women in order to have this exception to policy considered.
*Figures are based on the cost of education for the 2017-2018 year.
Completing the Financial Guarantee Form
On the front (first) page of the Financial Guarantee Form, you must complete all your personal information. It will need to be completed for funds of $41,024 USD per year, and identify who will be paying for your fees. If applicable, make sure that you include information on any dependents you may be supporting. There is an additional expected cost of $6,000 for a spouse and $4,000 for each child that must be added to the total. Make sure that you sign and date the bottom of the front page of the Financial Guarantee Form.
On the back (second) page, have your guarantor complete the top section with their personal details. If you are supporting yourself from your own personal funds, complete this section with yourself as your guarantor. If someone is sponsoring your studies, please make sure they complete and sign this section. Please ensure that the specific amount that they are agreeing to is filled in or the form will be incomplete.
The bottom section of the back (second) page requires the bank official of the guarantor to complete details on the financial ability of the guarantor, and also put an official bank seal or official bank stamp in the section provided. Current bank statements of the guarantor not older than six months accompanying the financial guarantee is also required.
You will need to submit a copy of the original financial guarantee form and bank statement/letter. Scanned and faxed copies are initially accepted, so that you can have the original for use during your visa interview. We do need the original copy for your file and require you to submit them at orientation. If you fail to present the originals at this time, a hold will go on your student account until submitted.