Financial Affidavit For International Students for India

Financial Affidavit For International Students Template for India

A Financial Affidavit for International Students is a legally binding document used in India that serves as a formal declaration of financial support for international students pursuing education in Indian institutions. The document, governed by Indian law including FEMA 1999 and relevant UGC guidelines, requires detailed documentation of financial resources, commitments from sponsors, and proof of ability to cover educational and living expenses throughout the study period. It includes comprehensive financial information, sponsor details, and must be properly notarized to be valid for visa and admission purposes.

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What is a Financial Affidavit For International Students?

The Financial Affidavit For International Students is a crucial document required by Indian educational institutions and immigration authorities to ensure that international students have adequate financial support during their studies in India. This document becomes necessary during the admission process and student visa application, typically required before enrollment confirmation. It includes detailed financial commitments from sponsors, proof of funds, and specific declarations about the source and availability of money for tuition and living expenses. The affidavit must comply with Indian banking regulations, particularly FEMA 1999, and UGC guidelines for international students. It serves as a legal guarantee that the student will not face financial difficulties during their academic program and helps institutions and immigration authorities assess the student's ability to sustain themselves throughout their study period.

What sections should be included in a Financial Affidavit For International Students?

1. Declaration Header: Contains the title 'Financial Affidavit for International Students' and the name of the educational institution

2. Student Information: Complete details of the student including full name, passport number, nationality, current address, and proposed course of study

3. Financial Sponsor Information: Details of the financial sponsor/guarantor including full name, relationship to student, occupation, and contact information

4. Financial Commitment Statement: Specific declaration of the amount being guaranteed, covering tuition, living expenses, and other costs for the entire duration of study

5. Source of Funds: Detailed explanation of the source of funds (employment income, savings, investments, etc.) with supporting documentation

6. Bank Information: Details of the bank accounts and financial institutions through which funds will be transferred

7. Legal Obligations: Statement of understanding regarding legal obligations and consequences of providing false information

8. Verification and Notarization: Space for notary verification, signatures, and official stamps

What sections are optional to include in a Financial Affidavit For International Students?

1. Scholarship Details: Required when the student is receiving full or partial scholarship support, including scholarship amount and duration

2. Multiple Sponsor Declaration: Used when financial support comes from multiple sponsors, detailing the contribution from each sponsor

3. Government Sponsorship: Required for government-sponsored students, including details of the sponsoring government agency

4. Educational Loan Information: Required when part of the funding comes from educational loans, including loan amount and terms

5. Currency Exchange Declaration: Required when funds will be transferred from countries with currency exchange restrictions

What schedules should be included in a Financial Affidavit For International Students?

1. Schedule A - Proof of Income: Copies of salary statements, tax returns, or business income proof of the sponsor

2. Schedule B - Bank Statements: Recent bank statements showing sufficient funds available for transfer

3. Schedule C - Cost Breakdown: Detailed breakdown of anticipated expenses including tuition, living costs, insurance, etc.

4. Schedule D - Supporting Documents: Copies of passport, admission letter, sponsor's ID proof, and other relevant documents

5. Appendix 1 - Bank Reference Letter: Original bank reference letter confirming the sponsor's financial capability

6. Appendix 2 - Employment Verification: Employment verification letter or business ownership proof of the sponsor

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

India

Publisher

Genie AI

Document Type

Affidavit

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Education

Higher Education

International Education

Banking & Financial Services

Immigration Services

Legal Services

Professional Services

Student Services

Relevant Teams

International Admissions

Student Services

Legal Affairs

Compliance

International Relations

Financial Services

Immigration Services

Document Processing

Student Support

Global Education

Relevant Roles

International Student Advisor

Admissions Officer

Visa Officer

International Education Coordinator

Financial Aid Officer

Compliance Officer

Legal Affairs Manager

International Student Services Director

Banking Relationship Manager

Immigration Consultant

University Registrar

International Recruitment Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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