Question about financial support as a sponsor for Parent

[soulblighter]

Hello,
I am preparing the application package to sponsor my surviving parent. I have more than enough liquid assets (which as I understand must be divided by 3) to support them for many years and hence plan to quit my current job become a full time student to pursue a career change. I am their only surviving family and considering their old age, it would not be possible to delay application until I finish my studies.
Would you feel this is advisable in the current climate considering I will not have any employment income when the application is under process and would solely rely on demonstrating sufficient liquid assets? Has anyone successfully petitioned under similar circumstance?
Thank you for any insight!

[newacct]

It should be fine. Note that it's 5, not 3 -- 3 is only for spouses of US citizens.

Also it's filled out based on your situation now, so if you haven't quit your job yet, then that income still counts as your current income, although you may have to keep that job around for a little longer in case there is an interview.

[soulblighter]

It should be fine. Note that it's 5, not 3 -- 3 is only for spouses of US citizens.

Also it's filled out based on your situation now, so if you haven't quit your job yet, then that income still counts as your current income, although you may have to keep that job around for a little longer in case there is an interview.

I was going by the last paragraph
for example, but seems like that info is outdated based on the current I-864 and hence you are correct.

As a follow up, if my full time student status is 3 years, then I guess will have to show assets worth at least [ FederalPovertyincome x 1.25 x 5 x 3 ] if I have no income as a full time student?


Thanks again!

[newacct]

As a follow up, if my full time student status is 3 years, then I guess will have to show assets worth at least [ FederalPovertyincome x 1.25 x 5 x 3 ] if I have no income as a full time student?

Not sure what you mean. How long you are studying is irrelevant. 5 dollars of assets make up for 1 dollar of income. You just need to show assets 5 times the amount shown in the I-864P for your household size.

[soulblighter]

Not sure what you mean. How long you are studying is irrelevant. 5 dollars of assets make up for 1 dollar of income. You just need to show assets 5 times the amount shown in the I-864P for your household size.

Okay, let me try it a different way... The federal poverty level shown in I-864P is in dollars required per year. So if I will not have an income for 3 years because I will be a full time student and will be supporting my family member using assets for those three years, do I need to show only 5 x amount in the I-864P or would it be 15 x amount in I-864P.

[newacct]

Okay, let me try it a different way... The federal poverty level shown in I-864P is in dollars required per year. So if I will not have an income for 3 years because I will be a full time student and will be supporting my family member using assets for those three years, do I need to show only 5 x amount in the I-864P or would it be 15 x amount in I-864P.

5x