Finances

Before you leave the US, contact your bank and/or credit card company to let them know that you will be studying abroad – where, for how long, and any other countries you plan to visit. (If your bank is not aware that you will be using your card(s) overseas, they may cancel your card(s) due to suspicious activity outside your normal spending patterns, or lock it.) Also, confirm with your bank that you will be able to use your card(s) overseas, what their fees are, what to do if you lose your card, and information on what services you’ll have where. 

You can use most credit cards in Australia, but they must be in your name as it appears on your passport. You have a PIN set-up prior to departure. Visa and MasterCard are more widely accepted than American Express (although AmEx Offices can assist you with cashing US checks). Credit card cash advances are considered loans, so interest is charged from the day the advance is made. 

Your American ATM card should work at most banks overseas, including the Sydney airport. Australian banks typically charge a fee for the use of their ATMs, but check with your home bank to see if they have a partner bank that you may use to withdraw funds from without a fee (ie. Bank of America is partnered with Westpac). 

If your ATM card is linked to the Plus or Cirrus systems, your card will work in thousands of cash machines throughout Australia. The advantage to using your American ATM card is that you will be assessed the wholesale exchange rate that applies to large foreign currency transactions. Australian banks typically charge a fee for the use of their ATMs, but check with your home bank to see if they have a partner bank that you may use to withdraw funds from without a fee.

All students are responsible for making their own flight arrangements. Tickets are an out-of-pocket expense.

When you book your flights, we strongly recommend you purchase your tickets directly from the airline rather than a third-party vendor (like Expedia or Travelocity). Why? Making changes or cancellations is generally easier to do directly with the airline. 

We also strongly advise students to purchase airline tickets that permit a change of date. You should therefore purchase a flexible flight, researching many different airlines to see what they offer. Some will waive change fees, regardless of fare type. For other airlines it depends on the fare you purchase. 

Be sure to read all of the rules associated with any airline ticket before purchasing! As indicated in the Study Abroad Acknowledgement and Release Form, Holy Cross is not responsible for travel expenses, including but not limited to: airline tickets and transportation to / from airports, in addition to expenses resulting from program suspension or termination, schedule changes, flight changes, emergency evacuation, or any other exigency. Such expenses are the sole responsibility of the student.

• All students will be charged Holy Cross home tuition, the standard room charge, and full board unless you choose to live in the Student Village Melbourne, in which case no meal plan fee applies (SVM is "self-catering," which means you shop for and cook your own meals).
  
  Remember: financial aid "travels" (click in the subsection below for more information). 

• All students will be billed a $225 per semester for GLOBAL SECURITY ASSISTANCE and international MEDICAL/TRAVEL INSURANCE provided by International SOS (ISOS) and Cigna Global health/Lloyd’s insurance. (Students are NOT charged the Health Service fee.) Coverage is mandatory.

The College of the Holy Cross Study Abroad Program operates on a home tuition policy. Students on Holy Cross approved study abroad programs will remain continuously enrolled at Holy Cross while studying abroad. This allows for students to receive Holy Cross credits for their courses abroad and grades will be on their Holy Cross transcript. 

The College of the Holy Cross is committed to making study abroad an opportunity for all our students.  In order to do this, the College must be able to provide need-based financial aid for students when they study abroad. To accomplish that, the College relies on tuition revenue in order to give need-based aid. In addition, using the home tuition policy allows for federal financial aid to be applied to the student’s bill. The College also provides additional services such as cultural programming, onsite advisors, tutors, and travel allowance. Finally, as an enrolled Holy Cross student, the Study Abroad Office provides a full range of support services and programming from initial inquiry through pre-departure support while abroad and when they return to campus.

When you study abroad, your financial aid travels with you. Whether you receive 100% aid or 20% aid, you can expect to be awarded the same amount for the semester/year you are away from Holy Cross. This is because determination of financial aid eligibility for studying abroad via a College-approved program is calculated just as it is for students who are living on campus, and financial aid is based on the standard cost of attendance. 

If you and/or your family are financing your education with loans, you should consider the total cost of attendance at Holy Cross when determining the amount of loans you are requesting for the period of time you will study abroad. (Note: the total cost of attendance at Holy Cross includes not only tuition, fees, room & board (your meal plan), but also books, supplies and personal expenses. To review the specific costs, go to:  https://www.holycross.edu/bursars-office/tuition-fees).

If you are awarded scholarships from sources external to Holy Cross - for example, a study abroad partner university - you must report the scholarship to the Financial Aid Office. They will then determine how that external scholarship is applied to your HC bill. 

Should you have specific questions regarding your financial aid award or how billing and disbursements work as you plan to study abroad, please contact the Holy Cross Financial Aid Office at 508-793-2265 or financialaid@holycross.edu 

The Study Abroad Billing FAQ page will also serve as a helpful resource as you plan. 

Students are responsible for:

• Refundable deposits (i.e., housing deposits if applicable)

• Visa fees

• Transportation to and from their home airport on both ends of their trip 

• Public transit within Melbourne

• Meals not provided by a meal plan 

• Books

• Personal expenses (including bedding and travel)

• Laundry