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When applying for a student visa, the Korea requires international students to provide Proof of Funds (PoF) to demonstrate their financial ability to cover tuition, living expenses, and other costs. This requirement ensures that students can support themselves without financial hardship while studying abroad.
Proof of Funds is official documentation showing that a student (or their sponsor) has sufficient money to cover:
Tuition Fees – The cost of the academic program.
Living Expenses – Housing, food, transportation, and other daily costs.
Additional Costs – If you are travelling with a dependent, the Korea requires you to provide proof of funds for your dependents, medical insurance, or travel expenses.
The commonly accepted proof of funds documents for the Korea include:
Bank statements (showing funds held for a period of 1 month).
Fixed deposits or savings certificates.
Scholarship award letters.
Financial guarantee letters from sponsors.
Education loan approval letters.
Highlighted below are the student visa living expenses requirements for the Korea, whether you are travelling as a single applicant or with a dependent.
The primary applicant requires:
USD15000 per year (for up to 1 year) for courses in Korea - Universities in the National Capital Region
USD13000 per year (for up to 1 year) for courses in Korea - Universities in the Local Region
You require to provide proof of funds for your dependents for study visa application in Korea - Universities in the National Capital Region as follows:
Required funds for first dependent is USD15000 per year
Required funds for second dependent is USD15000 per year
Required funds for third dependent is USD15000 per year
Required funds for fourth dependent is USD15000 per year
Required funds for fifth dependent is USD15000 per year
Required funds for sixth dependent is USD15000 per year
You require to provide proof of funds for your dependents for study visa application in Korea - Universities in the Local Region as follows:
Required funds for first dependent is USD13000 per year
Required funds for second dependent is USD13000 per year
Required funds for third dependent is USD13000 per year
Required funds for fourth dependent is USD13000 per year
Required funds for fifth dependent is USD13000 per year
Required funds for sixth dependent is USD13000 per year
Use the table below to see the proof of funds (living expenses + tuition fee balance + miscellaenous like flights, insurance etc) you will need to provide for each of your dependants:
| Family Size | Tuition Fees + Living Expenses |
|---|---|
| Single Applicant | USD15,000 + Your Tuition Fee Balance |
| Family of Two | USD30,000 + Your Tuition Fee Balance (Additional USD15,000) |
| Family of Three | USD45,000 + Your Tuition Fee Balance (Additional USD15,000) |
| Family of Four | USD60,000 + Your Tuition Fee Balance (Additional USD15,000) |
| Family of Five | USD75,000 + Your Tuition Fee Balance (Additional USD15000) |
| Family of Six | USD90,000 + Your Tuition Fee Balance (Additional USD15,000) |
| Family of Seven | USD105,000 + Your Tuition Fee Balance (Additional USD15,000) |
| Family Size | Tuition Fees + Living Expenses |
|---|---|
| Single Applicant | USD13,000 + Your Tuition Fee Balance |
| Family of Two | USD26,000 + Your Tuition Fee Balance (Additional USD13,000) |
| Family of Three | USD39,000 + Your Tuition Fee Balance (Additional USD13,000) |
| Family of Four | USD52,000 + Your Tuition Fee Balance (Additional USD13,000) |
| Family of Five | USD65,000 + Your Tuition Fee Balance (Additional USD13000) |
| Family of Six | USD78,000 + Your Tuition Fee Balance (Additional USD13,000) |
| Family of Seven | USD91,000 + Your Tuition Fee Balance (Additional USD13,000) |
Providing adequate proof of funds is a crucial part of the student visa application process because it shows that you are capable of financing your stay for the duration of your study. Insufficient or incorrect documentation can lead to visa delays or rejections.
Planning to study abroad? The Korea requires international students to provide proof of sufficient funds to cover tuition, living expenses, and other costs before granting a student visa. Use our Korea Proof of Funds Calculator to estimate the minimum financial requirement for you to study in the Korea.
Enter Your Details – Provide tuition fees, study duration, additional costs (if any), and any prepaid expenses.
View Your Required Proof of Funds – the Korea proof of funds calculator will generate the minimum financial amount needed for your visa approval based on official government requirements.
Tuition Fees – The cost of your program in the Korea (or the remaining balance after any payments).
Living Expenses – Estimated cost of living based on the Korea visa guidelines.
Additional Costs (If any) – If you are travelling with dependants, the Korea requires additional funds for them.
Prepaid Amounts – Any payments you've already made (e.g., tuition deposits, and accommodation fees) can reduce the required total proof of funds.
Simplify the calculation process with the Korea Proof of Funds Calculator, which provides estimates based on official guidelines. Plan your study abroad journey with confidence!