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Save Money While Studying in USA

1. Keep track of the Exchange Rate

When you arrive in US, you can buy or exchange your currency into American dollars at the airport. Watch the rate before changing the money. See if the exchange rate benefits you and you may get a bit more money.

2. Open an account in US bank

If you are going to stay in USA for a long time, it is wise to open an account with a American bank. Before opening an account, contact your university as many universities have tie-ups with US banks, so opening an account will be easy and hassle-free. Analyze what student offers are available on the account. Also, open an account with a bank that possesses a broad network with ATMs accessible from where you stay and study.

By opening an account with USA bank, you are entitled to benefits like-

  • Withdrawing money without transaction charges from bank ATMs.
  • Student incentives like discount on shopping, entertainment, travel, etc.

If opening a bank account in the USA is taking time, withdraw cash in a lump sum to minimize the transaction charges. Also, check if your Indian bank has a partner bank in the USA, in that case, you can withdraw for free.

3. Make the most of the student offers and discounts

Many places in USA offer multiple student discounts. Many stores and establishments provide discounts on entertainment, meal, transportation, purchase of books, groceries and other services. All you need to do is show your student ID. The universities in the USA provide a student ID to each of its students and this ID carries a lot of deals too. Use your student ID and save money while studying!

4. Apply for Scholarships and Grants

Another method to beat the financial blues and save money is scholarships and grants. Most US universities provide full or partial scholarships and grants to students to help them cover their study and living expenses.

5. Stay at On-campus accommodation

The accommodation cost at university dorm is somewhat affordable and comes with all the necessary amenities and facilities, as compared to off-campus accommodation. The on-campus accommodation reduces the travel and other living expenses that are incurred if you live off-campus.

6. Use the Subway

The best and economical way to get around is Subway. You will reach your destination much faster than the cabs/taxis and your whole journey will definitely not burn a hole in your pocket.

Another way to get around is to buy a bicycle. The benefits of cycling are aplenty – you get some exercise, it’s inexpensive, it’s easy to get around your locality or campus and it’s great for the environment too. You will be able to save big bucks!

7. Work while studying

International students are allowed to work part-time during studies. It’s a good way to earn extra money to pay for your sundry expenses.

Note: International students in their first year are not allowed to work off-campus on F1 and M1 visas. You can work on-campus as librarians, assistants, etc. In the second and successive years of study, international students can work off-campus under CPT (Curricular Practical Training), and OPT (Optional Practical Training).