Dear Abhishek,

For US business schools, international students require a visa to attend the program. One of the requirements for the visa per the US government is the financial statement showing you have the financial means to cover the cost of the program. While some schools will only ask for you to show proof of funds for one year, many have moved to asking for proof for the entire program. For the purposes of the visa, you will know at that point of any scholarship awards which you can include on the statement as part of your funds. Please note: scholarships covering the entire cost of a program are rare as most only cover a portion of tuition. You will need to have the funds to cover your living expenses, books, materials and remaining tuition.

If the school is asking for the financial statement during the application process, then you will need to show what you have and note what your plan is in terms of securing the rest. Loans are hard to secure in the US without a US citizen to co-sign, so you should be pursuing loans from your home country if you will need those funds.

Good luck,
Lisa