12 |Pre-arrival Information Handbook © May 2023
Money Matters
⮚ Planning First-Year Costs at Lewis University
The amount of money set aside for your school year (and indicated on your I-20 or DS-2019) may seem
very large. However, it is a good idea at the beginning of your stay to carefully plan a budget for your
first semester and first year. List the actual amounts of your costs (some must be estimated), deduct your
fixed costs (initial one-time costs and periodic costs that do not vary from month to month), and this will
tell you how much you have left to spend on a monthly basis. Expenses that you will have include tuition,
books, health insurance, housing, food, communication (mail and telephone), transportation (local
transportation? a car? holiday travel?), clothing, personal expenses, and recreation.
⮚ Beyond Your First Year
Plan realistically for the costs of your entire stay at Lewis. Make a budget similar to the one for your
first year. For long-term planning, keep these things in mind:
- There may be slight increases in tuition each year.
- Note that if you move from a campus residence to an off-campus residence, or vice versa, your
living expenses may change.
- If you live off campus, you will need automobile transportation, with the associated costs of
insurance, fuel, and maintenance.
- If you are seeking a degree that holds classes, clinical hours, etc. off campus at satellite sites (e.g.
in education, business, or some other disciplines), be prepared to buy a car or arrange rides with
classmates.
- Be aware that part-time, on-campus employment can assist with your costs, but probably cannot
cover them all. International students are permitted to work part-time on campus for a
maximum of 20 hours per week.
- Note about Financial Aid: Financial Aid from U.S. federal and state grants and scholarships is
available only for U.S. citizens and Resident Aliens. Lewis University has very few other
scholarships, fellowships, or other aid for international students at this time. You are responsible
for your costs for the duration of your stay at Lewis.
⮚ Banks and Credit Unions
The local credit union and banks provide many kinds of financial services, such as savings and checking
accounts, cashier’s checks, money orders, loans, inter-bank transfers, travelers’ checks, and safe-deposit
boxes for valuables.
It is not advisable to carry large amounts of money with you or keep it in your room or apartment, where
it is vulnerable to theft. Place it in a bank account. Also, if you have any valuable items such as jewelry
that could be stolen, you should rent a safe deposit box at a bank.
You may wish to have both a checking account for current expenses and a savings account for reserve
funds; you may transfer funds from your savings to your checking account when needed for current
expenses.