10 Financial Tips Tailored for International Students Aiming To Study at Brigham Young University-Idaho (BYU-I)

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Here are ten financial tips specifically tailored for international students aiming to study at Brigham Young University-Idaho (BYU-I):

  1. Explore Scholarship Opportunities: BYU-I offers a variety of scholarships, some of which are specifically designed for international students. Research these options thoroughly and apply early. Don’t overlook external scholarships from organizations and governments that support students studying abroad.
  2. Understand the Cost of Living: Familiarize yourself with the cost of living in Rexburg, Idaho, where BYU-I is located. Budget for housing, food, transportation, and personal expenses. This will help you plan your finances more effectively.
  3. Seek On-Campus Employment: International students in the U.S. are often allowed to work on campus for a limited number of hours per week. These jobs can provide a steady source of income and reduce the financial burden. Check with BYU-I’s International Services for eligible work opportunities.
  4. Plan for Health Insurance: Health insurance is mandatory for international students in the U.S. BYU-I offers a student health plan, but it’s wise to compare it with other options to find the most cost-effective and comprehensive coverage.
  5. Open a U.S. Bank Account: Having a local bank account can save you money on international transaction fees and currency conversion rates. It also makes managing day-to-day finances easier. Research banks near BYU-I that offer student-friendly accounts.
  6. Utilize Budgeting Tools and Apps: Take advantage of budgeting apps and tools to track your expenses and income. This can help you maintain control over your finances, avoid overspending, and save money for future needs or emergencies.

  7. Understand Currency Exchange Rates: Keep an eye on the exchange rates between your home currency and the U.S. dollar. This understanding can help you plan the best times to exchange money and potentially save a significant amount over time.

  8. Research Local Transportation Options: Understanding local transportation options in Rexburg can save you money. If public transportation is available and convenient, it might be more cost-effective than owning a car, especially considering insurance, maintenance, and fuel costs.

  9. Apply for Financial Aid and Grants: Beyond scholarships, look into financial aid options and grants available for international students. Some organizations offer grants based on academic achievements, special talents, or financial need.

  10. Network with Other International Students: Connect with other international students, both at BYU-I and in broader networks. They can offer valuable advice on how to navigate financial challenges, share tips on affordable living options, and provide support during your academic journey.

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