Money Matters
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Money Matters
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COSTS: Program fees paid to the travel contractor are based on the cost of round-trip airfare, housing with two meals a day, orientation activities, insurance, excursions and cultural events and other direct costs such as the International Student I.D. card. Added to that are costs for facilities (rental of classroom and office space) abroad, promotion and publicity, equipment rental, liability insurance, and office assistance abroad. Travel contractors specializing in study abroad programs take care of all these logistics for District programs. They have offices and/or support staff in California as well as in locations abroad and your program fees (and those of similar programs throughout the state) cover the costs of running those offices. Class registration fees are the same as those on campus in California: $11.00 per unit plus college service fees. Out-of-state students pay an additional $154 per unit.
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SPENDING MONEY: Before leaving the U.S., it is a good idea to change $50 or $100 into foreign currency so you will be prepared upon arrival for snacks, tips, and unexpected purchases. You can arrange for your bank to purchase the foreign currency (may take a week or longer), purchase it from Thomas Cook or other foreign exchange agency, or leave a little early for LAX and change the money there. The exchange rate may be a bit higher, but it is convenient and hassle-free.
In addition to the program and enrollment fees, you will need to budget additional funds to cover the cost of passport, books, lunches, personal items, meals out and/or snacks, gifts, and personal travel. The amount will vary according to your personal taste and spending habits--some students get by on as little as $1000.00 but most say that $1500.00 is about right. Take along as much personal spending money as you can realistically afford. Work out a budget of so much spending money per month, try to stick to it, and you'll do fine. Some of the extra expenses you'll want to plan for:
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MONEY TRANSFERS: Travelers' checks provide an easy and safe means of handling normal transactions in Costa Rica. Be sure to keep receipts separate from the checks so they are readily available in case of loss. Major credit cards such as American Express, MasterCard, and Visa are readily accepted in San Jose but Visa is most commonly accepted. Outside the central valley, credit cards are accepted mainly at major tourist complexes or fine restaurants. When traveling, it is a good idea to exchange your money in San Jose as it may be difficult to do so in outlying areas.
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Financial Aid: If you are receiving financial aid, you must check with your campus Financial Aid office to be sure you have completed all the necessary paperwork and interviews and that you know the approximate disbursement dates. Depending on the source of your financial aid funding, you may or may not receive funds before leaving the U.S. If you have not made other arrangements, the Study Abroad Office will send your financial aid checks express mail. You will need to sign and return a form indicating that you have received the check, and you will need to endorse the check and send it back to California for deposit to a bank account before funds are available. The study center office is not able to cash financial aid checks.
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