Planning your finance in advance to avoid unnecessary problems
The preparing for financial matters is an important aspect of being an international student in the US. Here are some tips on how to prepare:
Research the cost of living in your destination city: Knowing the cost of living in your destination city will help you budget for expenses such as housing, food, transportation, and healthcare.
Open a bank account: Opening a bank account in the US can make it easier to manage your finances. Look for a bank that offers low fees and convenient online banking options.
Create a budget: Once you have an idea of the costs associated with living in your destination city, create a budget that takes into account your income, expenses, and savings goals. This will help you manage your finances and avoid overspending.
Explore scholarships and grants: Look into scholarships and grants that may be available to international students. This can help offset the cost of tuition and living expenses.
Explore work opportunities: International students are allowed to work part-time on-campus, and some may be eligible for off-campus work as well. Research work opportunities and understand the regulations surrounding international student employment.
Understand taxes: As an international student, you may be subject to US taxes. Make sure you understand your tax obligations and consider seeking assistance from a tax professional.
Consider international money transfers: If you need to transfer money to or from your home country, explore international money transfer options to ensure you get the best exchange rate and lowest fees.
Be prepared for emergencies: Set aside some money for emergencies, such as unexpected medical expenses or travel expenses. It's also a good idea to have a backup plan in case of a financial emergency, such as having a credit card with a reasonable limit.
Overall, each tips will apply in various ways and they will not be actuated for every student. As International students, you should ensure a worry-free experience in the US by adequately preparing for their financial matters and taking necessary steps to manage their expenses effectively.
STORIES
If From other former international students, the following situations are what you expect to face while studying in the US. The US banks offer student account, which has suitable account options and services. There are several things you should look for the factors, such as the low or no monthly fees, online banking access, customer service, the branch and ATMs location in your areas, especially, they have a special services for international student in the campus. There are some popular banks: Chase, Bank of America, Citibank, and Well Fargo. Importantly, you have to do your own research and compare different banks to find one that best fits your financial situation.
Living in the US, it is natural to be interested in both technology and fashion. However, this doesn't mean you have unlimited funds to keep up with every new release and season. In fact, physical retailers often use clever sales tactics to lure you into making purchases that are not actually great deals. To avoid falling into these traps, you can turn to top online shopping websites such as Amazon, eBay, Etsy, Zappos, ASOS and etc, which often offer better prices and the added convenience of free delivery to your door. When making purchases, it is important to consider your financial budget and make efficient choices that meet your needs without breaking the bank.
"Don't overlook the power of small financial decisions. Saving a little each day can lead to great opportunities in the future" - IS USA Online
Every quarter or semester, there are scholarship and award program available to students, who has earn high Grade Point Average (GPAs), such as merit-base scholarship, academic awards an department awards. Various colleges and university may employ distinct benchmarks to access the academic performance of students when grating scholarship. The standard factors uses to evaluation process include: GPA, standardized test scores, essay or personal statement and letter of recommendation from the professors. In order to increase their chances of receiving financial aid, international students must conduct thorough research on the particular standards and prerequisites for scholarships at every college or university they are considering the application. This approach will help students determine their eligibility and prepare accordingly.
International students have the opportunity to work both on and off campus to cover their living expenses while studying in the US. With proper authorization and documents, they can work up to 20 hours during the semester and up to 40 hours during breaks. The students may have the possibility of covering a portion of their tuition fees through on-campus or off-campus employment opportunities. However, the feasibility of this option varies depending on factors such as the hourly pay rate, the number of hours worked, the university's tuition cost, and other circumstances. It is important to keep in mind that on-campus and off-campus jobs are usually restricted to a limited number of working hours per week, and may not provide enough income to cover the entire cost of tuition. Furthermore, international students must abide by their visa status's regulations and limitations concerning employment. In the following section on Job Opportunities, we will provide more information on how to obtain work and manage expenses as an international student.
International students holding an F-1 visa are eligible to work both on and off-campus after completing at least one full academic year of their program. During the academic year, they are allowed to work for up to 20 hours per week, and during breaks, they can work for up to 40 hours per week. However, it is essential to note that obtaining proper authorization and fulfilling specific requirements are mandatory before beginning any work.
"College is a time for growth and learning, not just academically but also financially. The knowledge you gain in both areas will shape your future success."- IS USA Online
