Know what the current exchange rate is and be able to calculate how much should be receive in return for each transaction. Also, be safe when carrying money and do not carry all of it at once. See the tips below from the ‘It’s Your World’ guide:
To keep your money as safe as possible, take the following precautions:
- Exchange money only in banks or other authorized exchange bureaus.
- Never exchange it on the black market.
- Carry only as much money as you need for a day.
- Use the same precautions when using ATMs (automated teller machines)
as you would at home.
The safest units to use are those inside banks or other buildings.
- Don’t leave your purse unattended, even for a moment.
- Tuck it firmly under your arm; if it has a long strap, wear it across your chest rather than let it dangle off your shoulder.
- In some areas, a waist pouch or money belt may be the safest way to carry money, especially if it is worn under your clothing.
What are Travelers Checks and where can they be obtained/used?
Travelers checks can be purchased at a bank or local travel agency in a variety of denominations and currencies. They can be used for payment at many local establishments or can be exchanged for cash at any bank or exchange agency. Travelers checks come in both US Dollars and in many foreign currencies and can be replaced if lost or stolen. Make sure to keep a list of the serial numbers from each check in a safe place so it can be given to the bank representative for replacement!
What are the housing options?
The housing options depend entirely upon the program that is being offered. Many students are expected to live on campus in either single or double occupancy dorm rooms. Others may have the option to live off campus in apartments or participate in a home stay and live in the home of a nearby family. If the student is expected to arrange his/her own housing, ask for recommendations from the sponsoring institution because student housing in foreign countries is not always easy to come by and may be expensive. It is also a good idea to find out what is included in the housing package (meals, linens, etc.) so your child will not be caught off guard with any unexpected expenses.
Who is responsible for making travel arrangements?
Some study abroad program fees include air and land transportation if the travel falls within specified program dates. This may include transfers to and from the airport and even local transportation if the students housing is not near the host campus. If airfare is not part of the program fee, still check with the program sponsors because some schools can secure a group rate if several students will be departing from the same location. It is also a good idea to make flight arrangements well in advance, especially during busy travel months.
Any additional travel plans that the student chooses to make are generally not included in the program fee, however there may be optional tours that are available for an additional cost through the sponsoring institution. If the student plans to travel between different countries while abroad, be sure he/she applies for the appropriate visas and clearances in advance.