If you've missed the 3 previous steps, here are links:
Step 1 (Finding, choosing and applying to schools)
Step 2 (Registering for the TOEFL)
Step 3 (Registering for the SATs)
Step 4: Financial Planning (Sponsorship, etc)
For your I-20 (document needed to apply for a visa) to be sent to you, you need to prove that you have enough money to pay for your first year in college.
You will probably need to send documents such as an Affidavit of Support or Declaration of Finance. This shows how much your sponsor says he/she has and also signs that he has enough money to pay for your first year in school. You need to obviously show bank statements as proof.
You might have more than one sponsor, or you might not be sure who your sponsor will be at the time. You cant wait to be sure cos there are deadlines to be met. See Sponsorship Issues
It is always advisable to have only one sponsor. Having more than one might make you end up looking shady.
If you're not sure who your sponsor will be, and if he doesn't have enough money to pay for your education - which means you have numerous sponsors who will all chip in. Here's what I suggest:
Get all the numerous sponsors to put in their contributions into one bank account. The statements from this bank account is what you will send to your school and present at the embassy.
This is a very viable solution - all contributions go into one place. They usually say sponsor on forms, but you could have sponsors - a millon of them. Nothing stops you.
I have tons of other tips I can't think of now. One is too crazy to write here, so I wont lol. It's not a crime though. . . I promise.
If you have any more questions, please comment. Email me your unique sponsorship issues, and I'll find a way to help. My hop tip which is TOP SECRET could help you **wink**
Hugs & Kisses