No matter which country you are in for New Year’s, chances are there are a number of event going on to celebrate. In the US, for example, bringing in the new year can cost a lot. According to the Mint.com’s New Year’s Analysis, 70% of Americans will celebrate in some way – and 13% of Americans will spend more than $200. This includes attending parties, throwing parties, going out for dinner, and a number of other activities. This doesn’t mean that you have to budget that much – after all, you are a student on a limited budget! Here are some key ways to save money on New Year’s Eve:
1. The Party. Sure, there are epic parties to bring in the new year with ticket prices costing upward of $50 depending on where you live. This is typically just the entrance fee, and may not include drinks or dinner. Think about how you want to celebrate and factor in the total costs:
If you are going with a group of people, ask if you can get a group discount. If you want to get New Year’s gear beforehand, you can find cheap goodies at the Dollar Store – or the equivalent nearby.
2. Transportation. If you are going to be celebrating far from home, remember that you’ll need to get there and back. If you are going to use public transportation to get there, will it be running after midnight? If not, consider the cost of a taxi or another alternative as well. Remember, be safe during New Years and don’t drive if you’ve been drinking.
3. Attire. New Years parties are sometimes a formal affair requiring you to wear a tuxedo or dress. Buying a designer outfit can be expensive, but you can rent a tuxedo for a night, or you can find great discounts post-Christmas. Don’t forget, you might have some nice clothes stashed away in your closet already!
4. Drinks. In many places around the world, champagne is the way to bring in the new year. Look for bottles on sale, see if you can purchase them wholesale (if you are throwing the party), and you may even find better deals at liquor stores. If you aren’t sold on champagne, there are delicious cheaper alternatives such as Prosecco, an Italian sparkling wine, that you can find at half the price.
5. Food. You can save a lot of money by eating before and after your party, as opposed to purchasing a ticket with everything included. You can go to a mid-range restaurant, eat your heart out, and then go celebrate. After your party, you can find some good discounted food if you have the munchies. Don’t forget about online discount restaurant coupons that can knock a few extra dollars off your meal.
Exchange rates can mean the difference of losing or making a few dollars with each transaction. When it comes to credit cards, cash, debit cards, wire transfers, and ATM fees, you should expect to pay more for the service of converting one currency to another. Be sure to understand how each of these methods work so that you have the lowest fee and the best exchange rate.
Know The Conversion Rate
With so many methods of payment, it’s important to contact your bank and credit card company to understand exactly how the charges work. Remember, exchange rates vary by the second, but that doesn’t mean that you will get that exact rate. You’ll want to ask:
Since the rates fluctuate so often, and in some cases dramatically, you’ll want to check the exchange rate regularly to know what rate you’ll get and when you should make large purchases.
Check For Any Fees
Credit Cards
Many credit cards charge an international transaction fee added on to each purchase. The good news is that there are some cards that waive this fee altogether. If you plan to go abroad for a lengthy period of time, consider looking into one of these credit cards and this can certainly save you money in the long-run.
Debit Cards
Not all banks are available worldwide and you may be charged a fee by your bank as well as the bank you use to withdraw money. Take some time to investigate the presence of your bank in your host country – do they have ATM’s in your destination country? If not, do they have a partnership with another bank in your destination country? Either way, it’s important to ask how your debit card will work overseas and what the fees are.
Exchanging Cash
Exchanging money is another way that you can get local currency, but try to avoid doing this at the airport, train stations, or over touristed areas since it is typically more expensive. Remember that the rates given by a bank or currency kiosk can vary, and thus you’ll need to evaluate your options. They all will include a fee to convert one currency into another. The best place is typically at a bank, although in some cases you can find favorable rates in hotels.
Overall, credit cards and debit cards are typically the best way to get local currency (that is, if ATM’s are available in your host country) and to make large purchases. Be sure to ask about security on your credit/debit card, however, to make sure you understand the policies in case your cards get lost or stolen.
Want to learn more about exchange rates? See how to make exchange rates work for you.
December is here! And before you head off for winter break, it’s important to also think about your finances. Set a few hours each day searching for awards and applying so that you’ll be in good shape in time for the new semester. Our Scholarship Search makes it easy to do, here’s how:
Not ready to apply? You can also bookmark the awards that you are interested in, and come back later to apply. Yes, it really is that simple!
Scholarships, grants, and fellowships are the perfect award as it is money given to you that is not required to pay back. Depending on the award, you may need to show that you need the money, or it may be based on merit.
If you still need additional help funding your education overseas, then an international student loan can cover the gap. Unlike scholarships, grants, and fellowships, loans require that you pay back the money with interest. Our Comparison Tool will allow you to select your school and citizenship, and find the available loans that will work for you.
Want more information on scholarships? Check out our scholarship blog posts.
For international students studying in the United States, the most difficult part of the process is funding. Tuition in the US can be extremely costly, particularly for international students, and many students let this fact discourage them from pursuing a US education. Don’t be one of these students! There are several ways to finance a US education. One of the best ways is through scholarships.
Scholarships grant students the money needed to finance their educations, and are provided by businesses, organizations, or schools to students for academic or other achievements.
When applying for a scholarship, you will generally be required to fill out an application detailing your personal and academic information, as well as write an essay on a particular subject.
We’ve collected a short list of tips to help you complete the best application so that you can improve your scholarship chances.
1. Actually Apply.
It seems too obvious to even mention, but many international students don’t apply for scholarships because they don’t want to spend the time the process requires, they don’t know there are scholarships available to them, or because they don’t think they have a chance. Don’t make this mistake!
2. Be a Leader.
Many scholarship foundations are seeking individuals with strong leadership abilities. International students may not be used to the American emphasis on leadership, and will need to seek out ways to develop and demonstrate leadership skills. Look for opportunities to volunteer for a leadership position in organizations or clubs on your campus. Many US schools offer campus workshops, leadership programs, and activities that help students develop their skills as a leader.
3. Brush Up On Your Writing Skills.
The scholarship essay is the most important aspect of your application; it allows you the opportunity to give the organization an idea of who you really are. Writing styles tend to differ from country to country, so international students should know that US committees will expect objective, structured essays that get straight to the point. Stick to the topic at hand, double check your grammar, and edit thoroughly. It may be a good idea to have your American friends proofread your essay; they may be able to point out aspects you have missed.
Read our full post about scholarship essays here.
>> Start searching for scholarships now
This week is a very important week in International Higher Education as it is International Education Week – and thus the week in which the Open Doors Report 2013 is released. In this report are facts and figures that show trends and changes with international students.
As we continue to sift through the data, we were of course especially interested to see what are the Primary Sources of Funding in 2013. As it comes to many as no surprised, the overwhelming majority of international students (63%) reported that their financial support was primarily covered by their own savings or with the help of their family. As a distant second, 20.7% of students said that US colleges and universities were their primary financial support.
In reviewing this data compared to last year, however, the majority of the increase in funding is coming from the U.S. and Foreign Governments. For those of you who have their finger on the pulse of international higher education, it comes as no surprise.
Saudi Arabia had a 30 percent increase in the number of international students in the US compared to last year. This brought the grand total of Saudi students to 45,000 in the US during the 2012-2013 academic term. The bulk of these students are finding their financial support through the Saudi government scholarship program which has given many students the opportunity to get their degree in the US.
Also seeing a spike in international students to the US is Kuwait, who has a governmental scholarship program that helped contributed to the 37 percent spike of Kuwaiti students in the US. This makes the grand total of Kuwaiti students at 5,100 – boosting them up to the top 25 sending countries.
That’s not all, Brazil also saw a 20 percent increase compared to last year, where the majority of the 10,900 Brazilian students are being supported on the Brazil Scientific Mobility Program that has also given students the opportunity to pursue their undergraduate degree in the USA.
Interested in seeing the data? Check out the Open Doors Report and let us know your thoughts.
Dan Beaudry is the former head of campus recruiting at Monster.com and former associate director of corporate recruiting at the Boston University School of Management. On October 10, Beaudry presented “How International Students Can Find Employment in the US” to students at Drexel University, and shared his knowledge of the job search system which he has used to help international students.
Drawing on his own experience, Beaudry shared innovative networking ideas that are valuable for both international and American students. For many international students, the word “networking” is an intimidating term that begins following them the moment they set foot on campus, evoking images of overwhelming career fairs at which they find themselves jockeying with dozens of other students for the recruiters’ attention.
This association can prove especially daunting for international students. After all, how are international students supposed to compete with their American peers when they are often conversing in their second or third language? According to Beaudry, you may not have to.
InternationalStudent.com Travel Video Contest
Deadline: October 23
InternationalStudent.com has launched their 8th Annual Travel Video Contest! Like in past years- the contest is open to students who would like to study outside their home country, as well as to students who are already studying abroad and would like to take a trip.
Eligible individuals can enter their short video into the contest from September 3rd through October 23rd. The finalists will be announced the week of October 28th and the winners will be announced the last day of International Education Week: November 15th.
One grand prize winner will receive $4,000 toward their travels abroad along with their very own blog to document the trip on InternationalStudent.com! Keep in mind that judges want to hear about more than where you want to go and why you need the financial help to get there. To be the 8th InternationalStudent.com Travel Video Contest winner you will need to tell your story in such a creative and original way that it’ll make the judges want to watch your video on repeat! Just keep in mind that your video must be less than 5 minutes and you must be over the age of 18. Read the rest of this entry »
According to a recent study by HSBC Group, the United States is now the second most expensive country in the world for international students. The combined average cost of university fees and living expenses for international students in the US is over $35,000, and international students at Ivy League schools can expect to pay far more, with total costs running over $58,000.
In spite of the high cost, more and more international students are studying in the United States every year. According to the “2012 Open Doors Report” released by the Institute of International Education (IIE), in the 2011-2012 school year, international student enrollment at both colleges and graduate schools in the US increased. 764,321 international students in total were enrolled at a US institution, a 5.7% increase over 2010-2011.
A US education is likely an expensive endeavor for international students from any country. International students are not eligible for federal financial aid, scholarships are often limited, and some colleges charge additional international student fees on top of tuition. For these reasons, the majority of international student rely primarily on their own funds to study in the US. In 2011-2012, 486,524 international undergraduate and graduate students used personal or family funds as their primary monetary source—a 6.1% increase over those who did so in 2010-2011.
However, an increasing number of international students in the US are finding outside sources willing to pay the brunt of their education costs. These outside sources include foreign private sponsors, current employers, or their US college or university. Receiving international aid is more common for international graduate students than undergraduates. In spite of this, US colleges are seeing bigger year-over-year jumps in international student enrollment than graduate schools.
The majority of international student enroll in public schools for their US education. Of the 24 institutions with the most international students in 2011-2012, about 20 were public schools. However, some international students look elsewhere for their educations. In that same school year, about 11% of international students in the US were enrolled in community colleges, two-year institutions with typically low costs. Another third of international students were enrolled in private, nonprofit colleges.
International students in the US are advised to consider all their options carefully before enrolling. The school they choose could drastically change the amount they end up paying for their education, and students should be searching for the school that is the right fit for them and their budgets.
Keep checking back for more from our series on the most expensive countries for international students.
As an international student in the US, chances are you have to worry more about funding your education in the US than your domestic peers do. Because international students do not qualify for federal loans and often have to pay out of state tuition at state colleges, they generally end up paying more for their education than US students.
This infographic seeks to help international students explore their options when it comes to funding their education in the US. Renata and Cristian are both international students, one at a private university, the other at a community college. Like 63% of international students, each primarily rely on personal and family support to pay for their education. However, when something comes up, they both have to find different ways to support themselves.
We hope that this infographic will prove helpful to you as you learn about your different funding options. With the right combination of financial aid, we are certain that you will be able to afford your US education.
Click the infographic above to zoom in.
Interested in applying for international student loans? Find your loans now.
When you arrive in the US for the first time, you may feel that you have a million things to get done right away. While starting school is exciting, it can also be extremely overwhelming. To help you combat this feeling, here are 5 things international students should do upon arrival in the US to keep busy and relatively stress-free:
Exchange Your Currency
First things first, get some money changed. Ideally you should do this before you begin your trip to the US. Because it will likely take days or even a week to set up a US bank account, and your credit and debit cards will likely charge extra fees if you use them overseas, one of the first things you should do is make sure you have a couple hundred dollars in cash on you.
You can exchange your money at one of the airport bureaus. This way you will be ready if you need to take a bus, train, or taxi to get to your campus (although most forms of transportation in the US accept credit cards or debit cards).
Call Home
This serves a double purpose: calling home lets your friends and family know you’ve arrived safe and sound, and also helps with any homesickness you might be experiencing. Being in an unfamiliar country on your own and for the first time can be extremely intimidating. Calling home and hearing familiar voices can be a good way to help you feel less alone.
Explore Your New Home
Once you make it home, you’ll likely be faced with the overwhelming task of unpacking. Before you undertake this, try going out for a walk. You will probably be cramped from your long journey, and taking a walk is a great way to stretch your body while getting to know your new surroundings.
Don’t Give In to Jetlag
One of the first things you will want to do when you arrive in the US is sleep—don’t! The longer you can keep yourself awake that first night, the quicker you will fall back into a regular sleeping pattern. Additionally, make sure you eat your meals at the proper time, and keep busy throughout the evening. This will help ensure that you don’t lie awake all night.
Meet New People
The first person you meet upon your arrival will probably be your roommate. You should also take it upon yourself to go out and introduce yourself to a neighbor or housemate. When you’re unpacking or relaxing in your dorm room, keep your door open. That way, anyone who passes by can introduce themselves. Having new friends even before you start orientation is the best way to make you feel at home right away.
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