Expenses for UC Berkeley Students
For information on fall and spring semester fees
and estimates of living expenses at UC Berkeley, click here.
Financial Aid for UC Berkeley Students
Financial aid is available to degree-seeking international students who have been registered at UC Berkeley for a minimum of two semesters. The Berkeley International Office administers financial aid through an annual application process. See our Financial Aid web page for more information.
Bringing Money to the U.S. from Abroad
When you first arrive in Berkeley you will need enough money for immediate expenses such as hotels, food, registration fees, and housing costs (Note: If the University is paying you, it may take more than a month until you get your first paycheck). Do not bring large sums of cash! There are many safer options available. Contact your home country bank now for details about the following:
- Traveler's Checks—The money is immediately available if checks are in US dollars, and they can be replaced if lost or stolen. But checks in large denominations can be difficult to use. Checks in a foreign currency are subject to exchange fees.
- Electronic Banking/ATMs/Check Cards—Cash is available immediately from Automatic Teller Machines. Exchange rates are good, but there may be a daily limit ($200-$300) and fees for using the service.
- International Credit Cards—Money is available immediately and exchange rates are good. But not all US stores and businesses accept international credit cards.
- Bank Checks/Drafts—These are useful for large sums of money but funds are not available for three days to three weeks after deposit (depending on which bank is used).
- Wire transfers—This is the safest way to transfer money. It is immediately available but an account at a US bank must be opened first. There may be a fee for using the service.
Banking in the U.S.
One of the first things you will need to do when you arrive in the U.S. is to set up a bank account. Before you open an account, be sure to do some preliminary research to compare services and fees. There are many different local banks conveniently located near the UC Berkeley campus.
There are two basic kinds of bank accounts:
- Checking accounts are for payment of regular bills and shopping needs. There are many different types of checking accounts. Be sure to look at the account fees and when they may be charged. After opening an account you will be given a book of temporary checks, but you should order checks with your name and local address printed on them. Most businesses will only accept a check that has the printed information.
- Savings accounts are for money you do not need to use immediately. Savings accounts earn interest on the balance and are available at all banks. If you have larger sums of money which you do not need for your routine living expenses, a savings account is a safe way to keep it.
ATM (Automated Teller Machine) Cards/Debit Cards
When you open an account at a bank, you will be issued an ATM/ debit card. The card is directly linked to your bank accounts.
Debit cards have become more commonly used in the U.S. than cash. You can use your card as a banking tool to access your bank accounts and to make purchases. Most businesses accept debit cards for payment. An ATM/debit takes money directly out of your bank account to make a payment. Some ATM machines may charge you a fee for use.