Financial Affidavit Information
2016-2017 International Student – I-20 Calculation

 UPIKE tuition  $19,600  Classes
 Dorm Room  $5,328  Average price based on dorm room with double occupancy $5,328 
 Board (meals)  $3,766  Meals
 Subtotal  $28,694  Subtotal
 Scholarship: International Tuition  -$6,500  Scholarship
 Scholarship: International Housing  -$2,500  Scholarship
 International Student Cost  $19,694  Price point (includes both international scholarships)

Health Insurance is required for the students per government rules. The student is responsible for the cost of health insurance and other miscellaneous expenses. Estimated health insurance is $400-500 per year.

A Financial Affidavit is required to verify funding before the University of Pikeville can issue an I-20. Form I-20, “Certificate of Eligibility for Nonimmigrant (F-1) Student Status – For Academic and Language Students.” is a paper record of the student’s information in a U.S. government database called SEVIS. The I-20 is a multi-purpose document issued by a government-approved, U.S. educational institution certifying that a student has been admitted to a full-time study program and the student has demonstrated sufficient financial resources to stay in the U.S.

The I-20 is the key document to obtain a Visa and the purpose of this form is that the student verified with the school the financial ability to pay for school costs plus living expenses (the amount shown on the Form I-20). See: https://studyinthestates.dhs.gov/start-here

Please be advised that the F-1 Visa student is required to show enough funds separately for books, health insurance, living expenses, travel, entertainment and miscellaneous costs for one year. It is an estimate of what most students spend in one academic year. Of course, this amount depending on the student’s spending habits, it could be higher or lower. $5,000 is the typical estimated amount for living costs for a student for one year for this region. The student must be prepared to show this information to the U.S. Embassy in their home country.

Foreign Nationals who are non-U.S. permanent resident applicants (green card holders) are not eligible for federal financial aid due to foreign status.

Best practices for financial affidavits are:
  • Applicants are required to submit current financial information that demonstrates the applicant has readily available funds to pay all tuition, fees and living expenses for the first year of study and documentation that adequate funds will be available for each subsequent year of study.

  • Current financial information is defined as documentation no more than 60 days old from a financial institution. If the account is in the name of someone other than the student, a signed affidavit from the account holder expressing intent and ability to support the student’s educational expenses will be required to be submitted with the financial information. Financial information that is not in U.S. dollars is required to be converted to U.S. dollars by a financial institution.

  • What options will the student have for financial aid? Only U.S. citizens and permanent residents are eligible for federal aid, which includes Direct Stafford, Direct PLUS and Perkins Loans. In most cases, international students will need to secure private loans or institutional loans if offered by the medical school. In some cases, medical schools require applicants to prove they have sufficient financial resources to pay for all four years of medical school, or will require applicants to have the full amount in an escrow account.
***Additional costs the student should be prepared to pay for: health insurance and books

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