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Old 03-06-2004, 06:50 PM
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CASH question

I just wanted to know what amount of cash most people would suggest bringing to the island when arriving first time?

Thanks,
Andrzej
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Old 03-06-2004, 08:31 PM
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cash

$2,000US

for me, that was enough to pay for the one night at pbh (~$35), put down a deposit ($400) and pay the first month's rent ($400) for an apartment, put down a deposit for a phone line and dsl ($400--split with my roomie), money for transports, stock up on household items and food, etc.

it also left with me just enough for the next month's rent because my alternative loan came 1 month late.
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Old 03-06-2004, 09:13 PM
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Rent vs. deposit

HI OC -

When you had to pay your rent, you also had to give 1 months rent as a deposit?
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Old 03-06-2004, 10:00 PM
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magic number

I think the magic number is as much as you can afford without closing your account in the States.
I plan on bringing a few thousand bucks in traveler's checks. Do not bring a lot of cash. The way I see it, its better to have money and not need it than to need money and not have it. Remember you never know what's going to happen. It takes a while to wire money and in the meantime you could be living off the bananas on the island...if they are in season. Otherwise you could join the locals and ask around for dimes.
I read a post from the archive who's financial aid check was delayed and he was living off bananas...

Poor Guy.
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Old 03-06-2004, 10:57 PM
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magic number

While it sounds sad, that story is probably not true. The University will provide you an advance for your expenses (interest free) until you loan money arrives. Clearly, they can only do this once your loan is approved and on its way. When your loan check arrives, they deduct your ADVANCE amount.

MitchDC

Quote:
Originally Posted by ikep
I think the magic number is as much as you can afford without closing your account in the States.
I plan on bringing a few thousand bucks in traveler's checks. Do not bring a lot of cash. The way I see it, its better to have money and not need it than to need money and not have it. Remember you never know what's going to happen. It takes a while to wire money and in the meantime you could be living off the bananas on the island...if they are in season. Otherwise you could join the locals and ask around for dimes.
I read a post from the archive who's financial aid check was delayed and he was living off bananas...

Poor Guy.
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Old 03-07-2004, 09:41 AM
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advance loan

Quote:
Originally Posted by MitchDC
The University will provide you an advance for your expenses (interest free) until you loan money arrives. Clearly, they can only do this once your loan is approved and on its way. When your loan check arrives, they deduct your ADVANCE amount.

MitchDC
getting an advance loan from the school is a little more complicated than it seems. (found this out the hard way this semester)

first of all, like mitch said, your loan has to have been approved. not only that, the nj office has to have the actual disbursement date ON PAPER. in cases like mine, the problem wasn't a disbursement delay but an actual screw-up by the nj office that delayed the ENTIRE loan process. this meant that one month into the semester, my loan was still not officially approved on paper -- even though the lender has been ready to disburse the money (complicated story!). this meant that i had to wait for nj to finish their jobs...which they should've done >1 month beforehand.

second, what mitch said about the loan having to be on its way for you to be approved for an advance is actually not correct (sorry mitch). having the check on its way actually disqualifies you from getting the advance loan. because they said "your check is on its way. you won't need this advance anymore because your money will be here in 1-2 days."

third....and this is a biggie: the school has to have enough money in its pool to give you an advance loan. after my loan was finally processed, this is what got me. i was never able to get that advance loan because of this. the school messed up with so many files (i.e., so many students didn't receive their alternative loan check on time) that a lot of students borrowed advance loans, and the school ran out of money.

so i suggest you do not count on the advance loan.

it certainly wouldn't hurt to bring as much money as you can (except if you ever want to return the leftovers to the states...then you lose money in the conversion and wiring). ....but like i said before, based on my experience (and those of some people i know), $2000US was enough.
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