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International Student Affairs

Banking and Transfer of Funds

Currency Restrictions

Each prospective student should become thoroughly familiar with government regulations for exchanging and forwarding money to the United States, since each country has specific guidelines. You should make arrangements to have the necessary funds available at the beginning of each semester. Some governments put a limit on the amount of funds allowed to be taken out of the country, and others may hold or restrict funds until Hofstra's letter of admittance and immigration documents are presented.

How much money should you bring?

It is not necessary to carry more than $300 in cash when you arrive in the United States. Do not bring large amounts of money with you in cash. You should plan to access the rest of the money that you need for immediate expenses using a debit card or credit card. Your home bank should be able to give you a credit/debit card that can be used at ATMs (Automatic Teller Machines) within the United States in order to withdraw cash. However, there are daily limits on cash withdrawals which normally range from $300 to $400 per day. Remember that tuition, housing, meals, books and supplies must be paid in full at the beginning of each semester.

University Bill Payments

Hofstra University has partnered with Flywire to offer an innovative and streamlined way to transfer international tuition payments. Flywire's mission is to save international students and their families money that would otherwise be lost on bank fees and unfavorable foreign exchange rates. With Flywire, you are offered excellent foreign exchange rates, allowing you to pay in your home currency (in most cases) and save a significant amount of money, as compared to traditional banks. In addition, the posting of the payment into your Hofstra University account will be faster, and you will be notified via email when it is received. 

Learn more about Flywire, other payment options, and how to manage your student account to pay bills from the Bursar's Office.

Exchange Rates

You generally get a better exchange rate if you change your money to United States dollars before leaving your country.

Financial Questions

If you have additional questions about how to transfer funds to the U.S. or pay for your Hofstra education, please contact Student Financial Services at 516-463-8000 or SFS{at}hofstra.edu