Finances: Bursar and Overseas

Bursar

Billing
If you are attending a Holy Cross program, the Bursar’s Office will send you a bill for tuition and room fees. Fall Semester bills are due in early August and Spring Semester bills are due in late December.

Students attending other approved programs will make payments directly to the program. All students studying at a program that is not administered by Holy Cross may be required to pay a $500 matriculation fee.

Health Insurance
All students participating in the Study Abroad program are required by Massachusetts state law to either purchase the Holy Cross Health Insurance Plan or complete and submit a “Waiver of Participation” before July 15. If we do not receive a “Waiver of Participation”; which will be sent to your home with your pre-departure materials, you will be automatically enrolled in the insurance plan and will be responsible for payment of the premium to Holy Cross.

Perkins Loan
Any student who has been awarded a Perkins Loan for a semester during which he/she is studying abroad must sign all required paperwork BEFORE LEAVING Holy Cross. Students should contact Susan M. Blaue, Assistant Bursar (508) 793-3493 to make arrangements for completion of the required forms. No checks or refunds will be issued from a student’s account until this is done.

Guaranteed Student Loan & Stafford Checks
If a Stafford Loan has been recommended for you, Holy Cross will submit your loan data to American Student Assistance (ASA). ASA will use the information to preprint a promissory note which is mailed to your home during the summer. The student borrower must complete the entire promissory note and return it to ASA. Be sure to check "Yes" to the question allowing the school to receive the funds through EFT. The funds are disbursed to your account at the College of the Holy Cross in two installments, Fall and Spring, less the applicable bank processing fees.

Contacts

For Perkins Loan form completion (508) 793-3494

For questions regarding your bill Sheila Coakley Bursar P.O. Box TREA (508) 793-2521

Overseas

Foreign Banking
You can open a bank account when you arrive. Your program advisors will help you. However, the easiest method of transferring money and exchanging American dollars into the currency you need is to use the ATM machines, now available almost everywhere.

ATM Machines
Many U.S. bank ATM cards are valid overseas; find out if yours is--CYRRUS, NYCE, VISA and MASTERCARD are fairly widespread--this is an easy way to receive money while you are abroad since personal checks and foreign drafts can take up to 30 business days to be credited to your account. If your card isn’t usable overseas, you may want to consider changing banks. Money can be deposited in the U.S. and almost immediately be available to you overseas. Many banks, especially smaller banks, or chains allow you free withdrawals, or at least a number of withdrawals per month before fees are assessed. Be sure to check on what fees are assessed and shop around to get the best deal.

Electronic Transfers
This is the quickest, yet most expensive, way to receive money abroad.

Traveler's Checks
Checks in US dollars are widely accepted; foreign currency checks are also available. If you purchase checks in your host country’s local currency you may be able to protect yourself from drastic fluctuations in the exchange rate. However, remember that there is no way to accurately gauge the foreign currency exchange rate.

Foreign Currency
Start your trip with at enough foreign currency to get you through your first few days abroad. Check with your bank as many banks provide this service.