Every year, thousands of Bangladeshi students go abroad for higher studies. Researches show that the number of students going abroad has tripled over the last 15 years. With such a huge volume of students going abroad, there is a natural question: How are the living costs or the tuition fees transferred from Bangladesh? This is where the student file comes in.  What is a Student File?  According to the regulation of Bangladesh Bank, there is no direct channel to send money to a foreign account from an existing local savings/current account. There is also a limit on how much foreign currency can be carried in each foreign trip (US$ 12,000) as well as a limit on credit card payments.  In such a scenario, a student opting to study abroad faces an imminent challenge regarding tuition fee payment or remitting the cost of living. Some European universities require students to maintain a “Block Account” which essentially withholds the entire cost of study and disburses locally to the students as per their need.  Read more: Study in Ireland: Application process, cost for international students A student file essentially bypasses this regulation legally where the bank remits the payment on behalf of the student. A student file is the only authorized way through which a student can send their tuition fee or remit the living cost abroad.  How to Open a Student File?  The process of opening a student file is pretty straightforward. At first, the student or their legal guardian needs to open a savings account with a relevant bank that offers the student file service. After that, the bank can entertain the request for opening a student account.  Typically, a student account can be opened on the same day as that of the application. The cost of opening a student file and the documents required vary from bank to bank. Read more: Study in Thailand: Admission process, cost for International Students But first, here’s what’s needed to open a savings account.  - Passport-size picture of the account holder (to be attested by the introducer)- NID/ Passport copy - Passport-size picture of the nominee - NID/Passport copy of the nominee - Utility bill copy (for address verification). Typically, the following documents are required for opening a student file in any bank.  - All academic certificates (original and copy)- All academic transcripts (original and copy)- IELTS certificate - Copy of passport - Visa document - Acceptance letter from the university - Tuition and living cost certificate - Detailed information about the financer. Read more: Higher Study Opportunities in Turkey for International Students: Process, Cost Which Banks Provide Student File Service?  Several leading banks in Bangladesh provide student file service including some government banks. However, it is important to note that due to the recent dollar crunch and new regulations from Bangladesh Bank, some banks are not opening new student files but are continuing to operate the existing ones. Also, having a savings account in the relevant bank is a key prerequisite for opening a student file.