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All students are required to demonstrate the financial ability to pay for their education and related expenses before being issued an I-20 by NOVA. We estimate the costs for studying one year at NOVA to be the following:

Associate Degree Program
Estimated Cost for One Year (Two Semesters) Beginning Fall or Spring
Tuition* $ 9,204
Living Expenses $13,311
Health insurance, books, etc. $1,800
Total $24,315

*Tuition rates are subject to change without notice.


If you are accompanied by your spouse or children while studying at NOVA, you are required to demonstrate financial ability to support these dependents. Please include photocopies of each dependent’s passport ID page with your application. The College estimates the additional cost for each dependent to be:

  • Spouse $6,898
  • Child    $3,450 (per child) 

1. F-1 Financial Statement Form

  • The student should complete the first page and sign it.

If the student has a sponsor, the sponsor must complete and sign the second page, showing the promise of funds for as long as the student plans to study.

We issue I-20s for the degree program for three years. The sponsor should fill in the required amount across all three columns where it says “Amount for 1st year”, “Amount for 2nd year” AND “Amount for 3rd year”. If your sponsor will only be sponsoring you for a portion of the time, they should only fill out the appropriate years.

We issue initial I-20s for the degree program for three years because we estimate it may take you up to this length of time to complete the required number of credits needed to complete an associate’s degree at NOVA. 

2.  Bank Statement

Documents must be dated within six months of the start date of the course. The following documents are acceptable:

  • Statement from a checking or savings account. Hard copies of online accounts are acceptable as long as the account holder’s name, date and the final closing balance are clearly visible.

Account summary or summary of liquid assets (that can be accessed as cash).

Official letter from the bank showing the account holder’s name, date and the amount of funds in the account.

Letter from a sponsoring company, organization or government outlining dates, amount and terms of sponsorship or scholarship.


  • All financial documents must be dated within six months of the start date of the course for which you are applying.
  • The names on the financial statement form and bank statement must match.
  • All financial documents must be in English or accompanied by an official English translation.
  • The bank statement does not need to be in U.S. dollars, but it must clearly show which currency the money is in.
  • We do not accept proof of funds in the form of lines of credit or retirement accounts (IRA, 401k, 403b or pension).
  • Please keep a copy of all of these financial documents. You will be required to present them at the U.S. Embassy or Consulate when you apply for your visa.
  • The documents listed on this website are required for the purpose of NOVA issuing an I-20 form. The U.S. Embassy or U.S. Citizenship and Immigration Services may require additional documentation before issuing an F-1 visa or approving a change of status application.
  • If your sponsor is a U.S. Citizen or Permanent Resident, he or she may submit an I-134 Affidavit of Support Form instead of the financial statement form. Affidavit of Support (I-134)