This post covers a financial support letter.
It takes a lot of commitment to promise to meet someone else’s financial responsibilities for studies, purchases, renting, or other endeavors.
For example, 83.8% of first-time, first-year undergraduate students receive financial support in some form in the U.S. (source)
Since you are here, I believe you want to provide financial support to someone and you are looking for a perfect letter to that effect.
You are at the right place, keep your luggage at that corner and come to learn the following;
- What is a financial support letter?
- How do you write an effective financial support letter?
- Financial support letter template
- Sample of financial support letter
let’s get started
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What is a financial support letter?
A financial support letter is a brief statement of facts written by an organization or individual to confirm and commit himself that they will provide the required financial obligation for another person’s cause.
For example, a parent or relative may write a financial support letter to a college to state that he agrees to provide financial support to cover his son or uncle’s studies.
Also, an employer may provide a financial support letter to support his employer in his rental application.
The entity receiving the money will be reassured by this letter that they may anticipate timely payments for the cause.
Typically, a financial support letter needs to be supported by financial institution evidence to show that the individual providing the help has the ability to do so.
Generally, the appropriate funds must be held in liquid accounts like CDs, money market accounts, checking and savings accounts, or money market accounts.
Non-liquid assets like stocks, bonds, and property deeds are typically not accepted as proof of ability to provide financial support.m
In short, people need money.
As Andrew Tate Always says what is the world of the day? CASH.
Related: Sponsorship letter for a visa (guide + free sample)
How to write an effective financial support letter
A financial support letter is written in business letter format. Begin with your address and contact information, followed by a date and the recipient’s address, if unknown, write ‘to whom it may concern, begin your letter by indicating that you agree to provide financial support to the certain individual. Include your relationship with that individual and states the exact amount you are ready to support and for how long..
Finish with “Sincerely,” your signature, and your name.
Remember that the goal of your financial support letter is to assure the receiver that he will get a timely payment for someone’s financial obligations
while writing it.
In order to write a successful financial support letter, I advise you to stick to the recommendations below:
- Provide your name, address, and contact information
- Include the date of the letter
- Include the recipient’s name and address. If unknown use To whom it may concern
- Provide the name and address of the person you want to support
- Indicate your relationship with the person you support- son, employee, uncle, beneficiary, donee, etc.
- Provide the exact amount of money you will provide.
- Explain what you want to cover through your support
- Provide the duration of your support- a year, 3 years, etc.
- Attach documentation to prove your ability to provide the support-bank statements, etc.
- Be straightforward
- Maintain a professional tone
- Be honest
Financial support letter template
The fooling is a general template of financial support letter that you can use in any case- studies, rental, or visa.
City, State, Zip Code
[Recipient’s Street Address]
[Recipient’s City, State, and Zip Code]
To whom it may concern
Dear Mr./Ms [Recipient’s Last Name]
I, [supporter name] of the above-mentioned address, in my capacity as the [relationship with the supported individual] of [supported name], agree to provide him/her with financial support in the amount of [#$] per [period] for [purpose].
I have included my [name of supporting documents] from [where you received them] to prove that I have sufficient funds to support [name of supported] for [purpose].
If you have any queries or require additional information, please contact me at [email] or [phone].
Sample of financial support letter
The following is a financial support letter sample for students from a parent, guardian, or relative.
5, Knollwood Dr.
Vernon Rockville, CT 06060
December 30, 20…
Director of Admission
ABC Health College
3214 College Avenue
Middletown, CT 06457
Dear Mr. Kennedy
Please accept this letter as my formal commitment to provide Great Bite, My Uncle with full financial support to cover all costs while enrolled in the Bachelor of Health program at your College for four years. I understand that the cost of his studies is $19,560 per semester.
I’ve attached my bank statement from Good Bank, 47 Ward St Vernon Rockville, CT 06066, to prove that I have the money to support Great Bite’s studies.
If you have any questions or need more information, please contact me at the aforementioned email or phone number.
I appreciate your understanding on this matter.
To Whom It May Concern letter of financial support
City, State, Zip Code
To whom it may concern
I, [NAME], am the [father/mother/guardian/relationship] of [ NAME OF SUPPORTED]. I will provide financial support in the amount of [$USD] to cover [things to be covered] during [purpose] at [entity]
In order to prove that I have the money to support [name of suppered] for [purpose], I have enclosed my [name of supporting documents] from [where you obtained them].
Contact me at [email] or [phone] if you have any questions or need more information.
I appreciate your understanding regarding this matter
Financial support letter pdf