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Make sure you have all of your finances taken
care of well ahead of time. This includes making sure all of your financial
commitments at home are being addressed and you’ve researched how you’re going
to maintain and organize your finances when you’re abroad.
Confirm that all of your billing for school costs
has been covered for tuition as well as housing. If you aren’t paying your home
school directly, verify that your payments to the study abroad program or
school are arranged. Let all scholarship sponsors know where you will be and to
whom they should address scholarship checks.
If you’re getting some sort of federal loan
and/or scholarship, confirm that you’ve completed all of the necessary
paperwork well before you leave in case you still need to return any
forms. Lastly, make sure you let your
bank know that you won’t be in the country for an extended period of time. This
prevents them from freezing your account when they see that someone (who they
wrongly assume isn’t you) is traveling around the world with your card.
I’ll get into how to open a bank account overseas
a little bit later, but for now, here are the basics of foreign banking.
you’re heading abroad, I suggest having at least $300 in foreign currency for
emergencies and basic costs like food and other necessities that you’ll need
when you get there. When I went to Scotland I took 170 British Pounds (GBP),
and when heading to Beijing, I brought 2,000 Renminbi (RMB).
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