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Letter of Financial Support Template
What Is a Letter of Financial Support?
A Letter of Financial Support is a written document that certifies the preparedness of a specific individual or entity to cover the costs of another person's upcoming travel, studies, or accommodation, whether in their own country or abroad. This letter is a quite common attachment to Visa Applications and College Applications especially if the person in question is unable to confirm they have enough funds to finance their education or life in a foreign country.
Download a printable Financial Support Letter template through the link below.
To make sure their plea to leave the country or study in a chosen educational institution is approved, their older family member, friend, or employer should confirm they are ready to offer the applicant full financial support. Even if the individual can pay for themselves, it is a good idea to file a supplemental Financial Support Letter that shows someone else is vouching for them.
How to Write a Financial Support Letter?
To create your own Financial Support Letter you will want to include the following information:
- The current date, your name, and address. The name and address of the visa applicant.
- The subject line should identify the document as a "Letter of Financial Support" and should feature the name of the applicant.
- Begin your letter by stating the reason why you are writing this letter (the purchase of real estate, for renting a premises, for university enrollment, etc.). In the opening paragraph, you will want to state that you will be acting as a financial supporter of the applicant should at any point during the agreement they will be unable to provide the full financial payments they have agreed to.
- You will then want to include all relevant names, including the applicant, yourself, a spouse or additional person that will also act as a financial supporter and the business entity, school, or person that will be receiving the payments. It is important to include all necessary people in this section so each person involved in this process will be kept up to date at all times.
- If you are from a lending agency acting as a financial supporter, you will need to include the name of your lending agency, contact information, and any other proof to show that you are a legitimate lending organization.
- Include the full amount the applicant will be responsible for paying, any down payment(s) required, future payments, how often each payment will be expected (such as monthly, quarterly, annually, etc), and any interest that may be applied. You can also list how each payment will be made and who will receive each payment.
- If you are submitting a letter of financial support as an individual and not a lender, you will want to include copies of banking or other financial statements proving that you are financially able to complete all future payments until the full amount is paid should the applicant be unable to do so.
- A closing statement including your contact information should any additional verification of income or other questions arise.
- Finish with a closing salutation, your name, and signature.
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