Budgeting and Finances
It is essential for your student to plan ahead and live on a budget. Things like setting a weekly spending limit for basic living costs or setting aside funds for emergencies will make life easier. here are a few frequently asked questions about fees accessing money abroad.
CYA’s Bursar (firstname.lastname@example.org) will send an invoice to your student with the amount due to CYA and the date it should be paid by. Generally, a confirmation deposit is required 3-4 weeks after a student has been accepted into the program, and the rest of the total amount is due 2 months before the start of the program. If your student receives any form of financial aid through their school, it is important that there be a clear understanding between the student, parents, CYA, and the home institution about how the money will reach CYA. More information about the payment schedule and refund policy can be found on our program fees page (semester/year and summer) and in your student’s Pre-Departure Handbook.
Decide in advance with your student how they will access money for both everyday financial needs and emergencies. Be aware that personal checks and U.S. postal money orders cannot be cashed in Greece; even bank or cashier's checks can take 30 days to clear. Although CYA recommends the use of bank debit/credit cards, which will allow your student to withdraw cash (local currency) directly with the use of a PIN number, it is important to ask your bank how (or if) its ATM card will function abroad and what extra fees will apply for withdrawals. A personal credit card with cash advances or traveler's checks could also make sense. Don’t forget to make arrangements to pay any monthly bills and, if necessary, to file your student’s income taxes.
The currency used in Greece is the Euro (€). Students have access to a list of sample prices of common items in Athens in their Accepted Student website, and their Pre-Departure Handbook offers suggestions for how to budget. Students should keep in mind that CYA program fees do NOT include the following: Airfare Some meals (lunch is provided on weekdays and not during weekends/holidays/field trips) Local transportation Personal travel Personal expenses