As you prepare to join the Baylor community in Waco, Texas, it is very important that you plan for living here and have the funds to cover immediate expenses upon your arrival. Here is a list of things that you should consider:
- Funds to cover the cost of toiletries, bedding, food, school supplies, other personal items.
- If you will be living off-campus and you have not yet made housing arrangements you will need funds to pay the deposit on your apartment, and in some cases for utilities. Some apartments require the first and last month’s rent when you move in.
- If you are a graduate student with an assistantship, you may not get your first paycheck from Baylor for several weeks, so you need access to funds while you are waiting for your paycheck.
- If you are bringing dependents (spouse and children), you must factor in additional funds to cover their immediate needs upon arrival, such as diapers, formula, car seats.
Will you have access to a bank account or some funds for these initial expenses? (While it may not be best to carry large sums of money with you, you should have access to funds upon arrival).
Prepare a budget of your expected monthly expenses. This will help you to determine whether you have sufficient financial resources (current funds in the bank, money from assistantship, scholarships, etc.) to cover your monthly expenses as well as an emergency fund. Here are some items that you should include in the budget:
- Rent (if living off campus)
- Utilities (electricity, water, internet, etc.) (if living off campus)
- Phone Bill
- Transportation Needs
- Healthcare (medicines, doctor visits, etc.)
- Activities (travel, restaurants, movies, etc.)
- Emergencies (increased cost of living, auto repair, medical emergencies, loss of funding/loss of scholarship or assistantship)
It is important that you have a plan and are able to cover your expenses while you are in the U.S. You should not base your budget and expenses on funding that you do not currently have or that is not already guaranteed (scholarships, institutional funds). When you submit your proof of funding to obtain your I-20, you have communicated to the U.S. Government that you have the funds available to support yourself and any dependents in the U.S. If you have any questions or concerns about this, please let us know.