International students are admitted with the understanding that adequate finances are available during their period of stay in the United States, either from the student’s own sources or from sponsors in this country or abroad. In general, scholarships and financial assistance are not available to international students.
Be cautious about spending money until you get used to a new monetary system. Money you don’t need should be put in a bank for safekeeping. You may want to put it into a checking and/or savings account.
CURRENCY
The most common paper money includes the one, five, 10 and 20 dollar bills. The smallest coin, the penny is copper. It is referred to as 1 cent and is worth 1/100 dollar. The rest of the coins are
silver: nickel, 5 cents (1/20 dollar); dime, 10 cents (1/10 dollar); quarter, 25 cents (1/4 dollar); and half dollar or 50-cent piece. Occasionally, you may come across the Susan B. Anthony or Sacajawea $1 coins.
Foreign money may be exchanged for United States currency at most banks. Exchange rates fluctuate daily and may vary from bank to bank.
For more bank information visit our banking page. Our International Student Handbook contains a form to guide you in developing a monthly budget. Contact the International Student Services office for a copy.
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