Proof of Means to Cover Educational Expenses
Effective December 1, 2019 (Spring Enrollment 2020)
Note: The following policy is only applicable to international students who have no direct expenses owed to Goshen College at the time of their first semester of enrollment.
Purpose: The purpose of this policy is to ensure that prior to their arrival on campus, international students who have no direct expenses owed to Goshen College have secured the financial means to cover their indirect expenses (housing, meals, books, supplies, etc.) while enrolled at Goshen College.
- International students already provide a bank statement during the admissions process to demonstrate their financial ability to attend Goshen College.
- International students’ I-20s are not approved unless their bank statements demonstrate that they have the financial means to attend Goshen College (including tuition, room & board, textbooks, health insurance and other personal expenses).
- International students complete Goshen College’s Financial Responsibility Agreement following their admission to Goshen College to demonstrate their understanding of the personal financial commitments required to enroll at Goshen College.
International students who have been admitted to Goshen College, and are expected to enroll with no direct expenses owed to the College, must make a deposit by August 1 (for Fall enrollment) or December 1 (for Spring enrollment) in an amount that is equivalent to their “Personal Funds” for one semester of enrollment at Goshen College (first semester tuition, living and other personal expenses less financial aid).
For reference, international students’ educational expenses (tuition, living and other personal expenses less financial aid) are listed on the student’s I-20s as “Personal Funds.”
If a full deposit for the first semester’s educational expenses is not made by the specified deadline for enrollment, Goshen College may withdraw the student, and the student may not be permitted to enroll at Goshen College until the required deposit has been provided. Once the required deposit has been made, the student may reapply for admission for the subsequent enrollment term. (NOTE: Under U.S. law, if withdrawn from enrollment, the student’s SEVIS status will also be withdrawn, and they will need to leave the U.S. within 15 days. If they do not re-enroll at Goshen College within 5 months, the student will need to go through the SEVIS application process again.)
Credit balances caused by financial aid or excess payment may be refunded to the student upon request only after all charges and aid due to Goshen College have posted to accounts. This occurs after the end of the drop/add date for the semester.