Guidelines for Submitting Proof of Financial Support

Total Program Costs

For the 2024-2025 academic year, the 12-month cost of living for room, board, transportation, and personal expenses in Los Angeles is estimated at $36,885; for the 9-month Master of National Security Policy it is $30,300. The equivalent 9-month cost of living in the Washington area is estimated at $29,952.

Tuition is set at $50,000. All full-time students receive some tuition scholarship; Ph.D. students receive a full tuition scholarship in their first year. Additionally, M.Phil. and Ph.D. students can earn upwards of $31,000 per year (pre-tax) through their required on-the-job training (OJT).

If you have dependents (a legal spouse or child) who will apply for F-2 visas, you must be able to show additional proof of funds. The estimated additional cost of living in the Los Angeles area is $14,253 for a spouse and $7,127 for each child. In the Washington area, the estimates are $14,890 and $7,445.

The U.S. government requires that all international applicants must provide proof of ability to pay tuition and living expenses for themselves and their dependents (if applicable) before an I-20, or Certificate of Eligibility for Nonimmigrant Student Status, can be issued.

When requested, applicants must send Proof of Funds documentation to admissions@pardeerand.edu.

Acceptable Documents for Proof of Funds

Family/personal bank statement (in the form of liquid funds, such as a checking or savings account)
Certificates/letters showing loans granted for education purposes (must include your name and amount of loan)
Bank letters or solvency certificates from a bank
Time/fixed/term deposits or government bonds available for withdrawal at any time
Employer, Government, or Organization sponsorships/scholarships

If you are submitting a bank statement in a foreign currency, you must provide the converted funding amount in U.S. dollars. Students are only required to provide proof of funding for one academic year when requesting an I-20.

Proof of Funds Document Requirements

All Proof of Funds documents MUST have:

Date of issuance (no earlier than 6 months before the start of your first term at Pardee RAND)
Student’s name (or account holder’s name if sponsor is someone other than student)*
Official letterhead and signature/stamp of an administrative official (not required for bank statements)
Final available balance of individual liquid accounts or solvency amount (clearly show type of currency)
Certified, professional translations for all financial documents not issued in English

* If the account holder(s) is someone other than student, include a sponsorship letter OR a confidential statement for financing studies. The letter must state the account holder and student’s name, current date, and relationship between student and sponsor. You may have more than one sponsor or source of funding. Please submit separate affidavit forms for each sponsor.

Documents NOT Accepted

Investments in fixed assets such as property, Demat accounts, mortgages, jewelry, residences, automobiles
Retirement funds, pensions, life insurance policies
Tax returns
Salary/Payroll statements
Pending or provisional educational loans
Accountant portfolio
Candidate scholarship letters or scholarship applications
Funds that are not immediately accessible/not in liquidated form

If you have questions about submitting your Proof of Funds, please contact us for assistance.