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I am applying for the Spanish Student Visa and would like to know whether I can submit both my personal ($16k) and Parent's bank statement (50k) along with the notarized authorization letter, as its a little too late to merge both accounts.
The total cost of the program plus living cost is $26k. Should I write a letter to the embassy explaining how I plan to extract funds from both accounts to pay for tuition and living expenses?
Yes, you certainly may, and it is not uncommon that parents contribute to student expenses, whether in whole or in part. As you do, you would want to your relationship to be documented within your application, that these are your parents and that the funds are available to you. If monies come from other relatives, it needs to be clear that the money is set aside for your exclusive use.
What might be helpful, although not required, could be for your parents to pay the program fees/tuition, which often must be done in advance of visa consideration and issuance. That done, your own funds would likely be more than enough.
And, for a thorough understanding of bank statements in relationship to visa applications, read What is the Purpose of Bank Statements on our sister site, Travel Stack Exchange.
