Having a checking account will assure safe and quick deposit of foreign checks and free the account holder from carrying large amounts of cash. Banks provide monthly and/or online records of individual transactions from the checking account, thus allowing easy tracking of one’s finances. Checks are typically used to pay monthly bills like rent, telephone, and electricity or certain retail purchases if accompanied by identification. Cashed checks are returned to the account holder after they are cleared by the bank, and may serve as proof of payment. It is a serious matter to write a check without having sufficient funds in the account. In addition to the various fees the bank will charge, the individual may suffer serious financial consequences and will be vulnerable to legal action.
Once you arrive to Southeastern, you may choose any local bank to open your account. Many banks require an individual to have a Social Security Number before opening an account. If you are not eligible for an SSN, please contact the ISO for further information. You should also bring your passport, I-94 card, and I-20/DS-2019 with you to open the account at the bank.
It is important that students and scholars plan their finances carefully and not rely on earning a great deal of extra money after arrival in the United States. Employment in most non-immigrant visa categories is highly restricted by US government regulations, so new students and scholars should come prepared to meet all of their expenses. Moreover, financial assistance is usually not available to international students after arrival.
Another factor to consider in one’s financial planning is that federal, state, city, and/or social security taxes will be deducted from most US-source salaries, scholarships, and stipends. With tax deductions typically ranging from 14 to 30 percent of the total income, one’s available income may be significantly less than expected. The amount of tax deducted depends on the individual’s earnings, tax status and whether he or she is a beneficiary of a tax treaty. All individuals with US-source income are required to report their annual earnings to the Internal Revenue Service by April 15 of the following year. Anyone who has overpaid taxes during the year will receive a tax refund after filing the tax return. For more information on how University payments to foreign nationals are taxed, please see the ISO.
The financial demands on new students and scholars are typically highest at the beginning of the academic year because tuition, health insurance fees, and housing finances are due before the first day of class. Tuition and fees must be paid in full unless a payment plan has been arranged through the Controller’s Office. Initial household expenses, cell phone, food, and books are other extra expenses to take into account. Thus, it is advisable to come prepared to cover all of these costs which will range from $2000 to $5000.
Some governments restrict the amount of money that can be taken out of the country. Others may restrict funds for students until an enrollment confirmation letter from the admitting US institution has been received. Before leaving home, it is advisable to determine whether any documents are required from the University in order to authorize the transfer of funds. In some cases the ISO can provide students the necessary documentation upon seeing proof of full-time student status.
One should be aware of the home country’s requirements for exchanging money and the value of the home country currency in the United States. Travelers must declare currency amounts over $10,000 at US customs upon arrival. United States coins are different diameters and represent different proportions of one US dollar: penny (1/100th), nickel (1/20th), dime (1/10th), quarter (1/4), and dollar (1). American paper money is green and all bills are the same size. The following are common bill denominations: $1, $5, $10, $20, $50, $100.
It is recommended that one obtain a small amount of American currency in coins and bills before arriving in the United States to cover miscellaneous initial expenses such as cab fare and meals. Most major airports have banks available for currency exchange and automated teller machines (ATM’s) for those who decide to obtain US currency after arrival.
The cost of health care in the United States is very high and there is no national health plan. Nonresidents in the United States are not eligible for financial assistance from the US government to pay for medical bills. Therefore, the policies of Southeastern Louisiana University require that all students and scholars and accompanying family members have adequate health insurance coverage. Below you will find information on the Southeastern International Student Insurance plan, insurance requirements, how to file a waiver, and more.
All acceptable insurance plans must include the following:
Alternate insurance must cover the entire semester and must meet the minimum requirements set forth above under Insurance Requirements. It is the student’s responsibility to provide proof of private insurance for review to the International Services Office BEFORE the fee payment deadline for the possibility of an insurance waiver.
To request a waiver for Southeastern’s endorsed plan, a student must submit to the ISO proof of coverage using the link below. Proof of coverage should include policy information, deductible rates, coverage dates, and expiration date of policy. This information must come directly from the policy provider/insurance company. We will verify proof of coverage with your insurance company before the waiver is granted.
ALL INTERNATIONAL STUDENTS NOT PRESENTING PROOF OF OTHER ACCEPTABLE INSURANCE PRIOR TO THE FEE PAYMENT DEADLINE (OR UPON ARRIVAL FOR NEW STUDENTS) WILL BE CHARGED FOR THE SOUTHEASTERN ENDORSED PLAN ON THEIR FEE BILL.
Southeastern endorses an international student insurance plan issued by Global Benefits Group (GBG). All non-immigrant international students in F1 and some J1 status will be automatically enrolled in the Southeastern endorsed plan unless proof of other acceptable insurance is provided to the International Services Office prior to the fee payment deadline each semester. Visiting J1 scholars, researchers, and those not enrolled in classes please contact the ISO to be enrolled in the program.
Students who are charged the endorsed plan through GBG are covered only during the semesters in which they enroll in classes. Once a student registers courses, the insurance premium will appear on their account when tuition and fees are added. Students who do not wish to be enrolled in the Southeastern endorsed plan must apply for a waiver. See above for more information.
Students who do not attend the summer semester are not charged the insurance. You must contact the International Services Office and confirm that you wish to remain covered during the summer term.
Coverage lasts for each semester from the first day of class until the day before the next semester begins.
A copy of the most recent benefit information for the GBG Policy can be found here.
When you are enrolled in the GBG Southeastern endorsed plan, you will receive a health insurance card. Our office will email you once it is ready to be picked up. Keep this card with you at all times.
If you need to visit the doctor or walk-in clinic, give the card to the person checking you in. They will ask you for it and take down the information. You will pay a $25 deductible or co-payment for your visit.
Once you are see by the facility, they will send the insurance company the information. Afterwards, you will receive the list of covered procedures in the mail from the insurance company. It will tell you what they covered and what you owe the hospital. You may also receive a separate bill from the hospital with the same information. Check over it carefully and call the insurance company with any discrepancies.
If you visit a facility and forget your health insurance card, you will need to file a claim with the insurance company. To do so, please follow the instructions on page 8 of this document.
The pharmacy network under GBG insurance provides prescription drug coverage for all covered conditions when prescriptions are filled at any of their participating pharmacies. Preventative drugs are not covered.
You will be required to show your health insurance and ID card to receive benefits at the participating pharmacy.
For additional pharmacy locations, please visit CVS Caremark Company at www.caremark.com.
Premium – This is the actual cost of your insurance plan. The amount you pay per semester for insurance coverage.
Deductible – The amount that you must pay out of your own pocket before the insurance company will pay the doctor or hospital, and is typically paid at the time of treatment.
Co-Pay – Like a deductible, this is the amount of money you must pay out of pocket before the insurance company begins to pay for your eligible expenses. Typically this is required instead of a deductible or coinsurance, and requires you to pay a set fee for a specific visit.
Coinsurance – A percentage of what the insurance will pay to cover your health care cost after any deductibles or copays have been met.
Provider Network – Group of medical providers that have contracted with the insurance company to provide health care services. In-network providers typically charge less for the same service compared to non-network providers, so using an in-network provider can save you money and they will usually accept direct payment from your insurance company.
Usual, Reasonable, and Customary – (URC) the average cost for a particular treatment in a particular geographic area. It is the amount that insurance companies use to describe the limit on how much they will pay for covered expenses.
Pre-existing conditions – include any injury or illness that you may have had 6 months prior to being covered under GBG’s insurance. Pre-existing conditions are not covered until after the covered person maintains 12 months of uninterrupted coverage from his/her effective date of coverage.
Repatriation of Remains – On most insurance plans, repatriation of remains covers the cost of returning the insured’s body back to their home country in case of death.
Emergency Medical Evacuation – provides medically necessary transportation to the nearest qualified medical facility
Southeastern’s University Health Center offers a variety of services for our students that include but are not limited to:
For more information on the Health Center, please visit their page at www.southeastern.edu/health
Anyone driving in the United States must be in possession of a valid driver’s license from the state in which they are currently residing. A Louisiana driver’s license may be obtained from the Department of Motor Vehicles (DMV).
To obtain a driver’s license an individual is expected to pass a series of tests to ensure their knowledge of traffic law in the United States. A vision test will be administered to determine if your vision meets the minimum standards for safe driving. A traffic sign and knowledge of traffic law test will also be administered to question your knowledge of road signs and safe driving practices. Finally, you will also be expected to perform a driving test using a vehicle that you provide. (Please note that the vehicle you bring should pass a safety inspection, have a valid inspection sticker, and have a current license plate and registration. You must also present proof of liability insurance on the vehicle being used).
The Louisiana Identification card is a useful and valid form of identification that many international students can use. However, it is not a substitute for a driver’s license and you will still need to obtain a Southeastern ID if you are a Southeastern student. A state ID can be obtained from the Department of Motor Vehicles.
