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Estimated Expenses

Estimated Expenses for 2022-2023

International students must demonstrate the ability to cover estimated financial expenses for an academic year (9 months). Students will need to upload financial statements or other documents as part of their I-20/DS2019 application. We have calculated estimated expenses for the I-20 or the DS-2019 consistent for all international students in Homeland Security’s database (SEVIS).

Total Estimated Expenses (Quick View)

The sum of estimated expenses for one academic year for each program is listed below. These are the sums needed for your I-20 or DS-2019. Please see the chart of a breakdown of the estimated expenses for your program here. 

Undergraduate: …………………………………………………………$87,007

Graduate: ………………………………………………………………….$85,844

Pratt MWP: ………………………………………………………………$62,365

Certificate program: (Fashion Technology)………………$38,808

Certificate program: (Digital Design)………………………$38,808

Certificate program: (Creative Careers)…………………..$19,654

CEP (Certificate English Proficiency): …………………….….$50,250

SCP (Summer Certificate Program): …………………………$10,287*  

*If you are taking SCP in the summer and continuing into a degree program or the CEP at Pratt, please be prepared to show funding for the SCP plus the degree.

Financial Documentation Criteria

The financial statement(s) must be recent, meaning six (6) months old or less, at the time of submitting. All documents must be in English or officially translated. We can convert the currency using a converter such as XE.com. Financial statements must have the date, name and address of the financial institution, account holder’s name(s), currency, and be readily available. We do not accept stocks, equities, Life Insurance or Salary letters as proof of available funds. Approved loans and scholarships are accepted. Sponsors must sign an affidavit of support which is generated by our software. Sponsors from a company or organization must provide a separate affidavit of support on letterhead and signed by an authorized signatory. Students sponsored by governments (i.e. Saudi Arabia or Kuwait) will submit a letter from their government award.

Additional Criteria
  • These standard program cost estimates for I-20 purposes are for the academic year         
    •  (9 months), which is Fall semester and Spring semester (September – May)
    • Your actual expenses will vary
  • You may have multiple financial sources and combine them together to equal the standard cost estimate
  • Scholarships can be added to your financial statements to equal the standard  estimated expenses
  • Must be in English
  • Type of currency must be indicated. 
  • Can be in your local currency. We convert using XE.COM
  • Must be on bank letterhead 
  • Can be a bank statement or bank letter
  • Must be recent and dated within the last six (6) months. In other words, it must be issued within the last 6 months. It cannot be an old statement from last year. Send one bank statement from the most recent month, not 6 statements from 6 months.
  • Letters must be signed and/or stamped
  • Must have name of account holder (If it is in an alphabet other than the Roman alphabet, i.e. in Chinese characters, please make sure the name is transliterated somewhere else, like on the affidavit of support. You can just hand write it before uploading )
  • If you have multiple financial statements, please include all of them in one document to upload
  • Financial letters from sponsors must have amounts written in the letter. 
    • If they do not, please contact your sponsor and get an updated letter with specific dollar amounts before uploading
    • If it says something like, “low six figures,” we will calculate the lowest amount and convert it i.e. “low six figures Thai baht= 100,000 Thai baht, “mid six figures=500,000”
  • For “term deposits,”- we look at the issue date of the statement and you need to make sure the funds will be available for paying the tuition by the due dates
  • Loans- loans must be already approved. Upload proof of loan approval. You cannot submit the loan “application” or a “pending” loan.
  • Salary letters are not accepted as proof of available funds.
  • Digital statements from on-line banking are acceptable as long as they meet the above criteria
Additional Information
  • Qualifying Reductions
    Students who have a Pratt scholarship or are living with a sponsor in the U.S. at no charge while studying can deduct the scholarship or equivalent for room and board from what needs to be shown in the financial statements. You will be able to indicate the amounts when you apply for the I-20 or DS-2019 and the amounts will automatically be deducted from the amount you need to show in financial documents.
  • While Pratt Institute needs to see financial statements for one academic year in order to issue the I-20 or DS-2019, please plan where the funds will come from for the rest of your program. Students should not count on receiving scholarships after they start their program as scholarships are granted at the time of admission.
  • Living  Expenses: The OIA  strongly recommends that you have at least an additional 25%  reserve of your total expenses available. If room and board will be provided by the sponsor, he or she must provide a signed affidavit of support and proof of residence (i.e. rental lease). 
  • Mandatory Health Insurance:  As healthcare in the U.S. is very expensive, Pratt requires all students to purchase health insurance or be covered by health insurance from home. Please find more information here for Pratt students, or here for students attending PrattMWP.  Rates are subject to change.
  • Dependents: If your spouse is coming with you to the U.S., you must document an additional $10,800 per year in living expenses. The annual cost per child is $6,000 minimum.  U.S. federal regulation requires that all dependents (spouse and/or children) must have adequate health insurance.

For questions, email oia@pratt.edu or attend  “I-20 Tuesdays” (Zoom), 9:30 a.m.-10:00 a.m. EST