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Finances
Fees & Payments
As you know, the cost of a college education in the US is very high. These costs should be carefully considered when making arrangements to study at The College of New Jersey. You must arrive prepared to meet all of these expenses. Do not rely on earning extra money after you arrive. Financial assistance is usually not available to international students after they arrive and employment opportunities are severely limited. A minimum of $1,500 ($3,000 if you plan to live off campus) will be needed at your time of arrival for such expenses as temporary accommodations, food, insurance payments, initial household expenses, etc. Your tuition must be paid in full at the beginning of the semester. You also will be responsible for paying the health insurance fee of $68 each semester, which includes your International Student “rider” (Medical evacuation and expatriation of remains) as required by the US government.
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How You Can Pay
Below is information for you to pay your bills to TCNJ. You can pay by credit card, a check for US dollars drawn on a US bank or wire transfer.
Wire Transfer
We have found that it is much easier and safer to transfer funds electronically from your bank to The College of New Jersey ’s bank. The instructions are:
Bank: Wachovia Bank
2 Washington Crossing Road
Pennington, NJ 08534
Phone # 609-737-0727
ABA/Routing # 031201467
Account # 2000104597941
Credit: The College of New Jersey
If you wire funds it is important that the transfer instructions indicate your name in the event the funds are coming from a parent, relative or friend whose last name is different than yours.
Credit Card
You can pay by credit card when you arrive or you can use the TCNJ website prior to your arrival. You can pay your fees on TESS, The Electronic Student Services Website. We accept American Express, Discover Card, and Master Card. We DO NOT accept VISA.
The TESS website is only available during TCNJ business hours:
Monday - Thursday 8:30am to 11pm (EST)
Friday 8:30am to 6pm (EST)
8:00am Saturday - 6pm Sunday (EST)
NO OPERATOR is available Saturday or Sunday should you need to contact anyone about the website.
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United States Banking Services:
Below is a list of banks in Ewing or Trenton, close to campus, which accept the transfer of funds from overseas:
Third Federal Savings Bank
2075 Pennington Rd, Trenton
Ewing, NJ 08638
(609) 883-7033
Wachovia Bank
1488 Pennington Rd
Ewing, NJ 08618
(609)771-9224
Commerce Bank
5 State Highway 31
North Ewing, NJ 08534
(609) 818-1037
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Currency Restictions & Transfer of Funds to the United States:
Before finalizing your plans to study in the US, become familiar with your government's regulations regarding currency restrictions and the transfer of funds. Some governments restrict the amount of money that can be taken out of the country. Others may restrict funds until an enrollment confirmation letter from the admitting US institution has been received.
Money Exchange
Before leaving home, be sure to learn your country's requirements for exchanging money and the value of your own currency in the US. You must declare currency amounts over $10,000 at US customs upon arrival. Know how much the following United States coins are worth in your currency: penny, nickel, dime, and quarter. American paper money is green and is referred to as a bill or bills. The following are common bill denominations: $1, $5, $10, $20, $50, $100.
It is preferable to obtain a small amount of American currency in coins and bills before you arrive in the US. This will allow you to be prepared for tipping, telephone calls, and miscellaneous expenses. If you decide to wait until you arrive in the US to obtain some US coins and bills, there will be a bank for this purpose at most major airports.
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Expenses Often Overlooked:
- Overnight lodging: Hotel charges in big cities are very high-anywhere from $150-$300 a night.
- Tips on taxi fares and restaurant meals: It is customary to add 15% to the bill.
- Winter clothing: If you do not have warm winter clothing, including a heavy coat and boots, you may need to spend between $300-$500 for such items.
- Deduction from assistantships and other awards for federal and state taxes: Almost 30% will be deducted from some stipends by the federal and state governments. A student who overpays taxes may apply for a refund in April of each year (during the US "tax season").
- Personal and household items: In furnished and unfurnished apartments, you will have to provide towels, kitchen utensils, toiletries, etc.
- Bedding: In furnished and unfurnished apartments, you will have to provide bed sheets, bed linens and blankets.
- State and local sales taxes added to the price of many items or services: Consumer taxes vary from state to state and range from 1% to 8%.
- Security deposit when renting an apartment off-campus: You will have to pay three months' rent before moving into the apartment.
