Banking

1
Banking Finances

• Linda Butler
• International Student and Scholar Services

2
Bank Accounts

• Social Security Numbers
• Many banks credit unions will open accounts
  without a social security number.
• You will most likely not be able to get a US
  issued credit card without a social security
  number.
• J-1s may apply for a social security number
  without having employment, but F-1s must have
  employment before they are eligible to apply.

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Safety

• If your checkbook, ATM card or credit card is
  lost or stolen, notify your bank immediately!
• Use ATMs wisely
• Never make large cash withdrawals or carry large
  amounts of cash with you.
• Set up Electronic Funds Transfer for paychecks or
  scholarship payments
• http//www.utexas.edu/business/accounting/sar/stdp
  ubs.html

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How to Pay Tuition Bills

• Cash or check
• Installment payments
• Credit card payment--Mastercard or Discover
• Electronic Funds Transfer
• Tuition loan for 1st installment
• http//www.utexas.edu/business/
  accounting/sar.pay/html

5
Loans

• UT Installment Loan
• Must have minimum passing GPA
• Must be registered full time
• Must have no outstanding financial bars
• Maximum loan amount is 4000
• Repayable in 3 months with 4 per annum interest

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Loans

• Cash Loans
• Must have minimum passing GPA
• Must be registered full time
• Must have no outstanding financial bars
• Maximum loan amount is 300
• Repayable in 1 month with 4 per annum interest

7
Loans

• Private Commercial Education Loans
• Require a US citizen or permanent resident to act
  as co-signer
• Can be for entire amount of yearly tuition and
  living expenses
• Common lenders
• Teri CitiBank
• Sallie Mae Wells Fargo

8
Financial Aid

• To be eligible for limited financial aid through
  the
• International Office, students must
• Be at UT at least 1 academic year before applying
• Demonstrate financial need
• Be full time enrolled
• Have minimum passing GPA
• http//www.utexas.edu/international/isss/students/
  financialaid

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Employment Taxes

• Linda Butler
• International Student and
• Scholar Services

10
Employment Issues

• Who Is Eligible to Work
• F-1 students in valid status w/U.T. I-20
• J-1 students in status w/U.T. DS-2019
• J-1 sponsored students w/written authorization
  from their sponsor
• J-2 spouses who receive work authorization from
  U.S immigration services

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How Much Can You Work

• 20 hrs./wk maximum during long sessions
• 40 hrs/wk during vacation periods and summer for
  enrolled and continuing students
• Remember! University policy may allow more
  hours, but immigration does not and their
  limitations apply.

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Where Can You Work

• Only on campus unless authorized by immigration
  or specifically by an International Office
  advisor for off-campus employment such as
• Curricular Practical Training (F-1)
• Optional Practical Training (F-1)
• Academic Training (J-1)
• Authorization based on hardship approved by
  immigration (F-1) or advisors (J-1)

13
Maintain Your Status

• Register for full-time
• Keep documents valid
• Do Not Work off campus without valid authorization

14
Social Security Number (SSN)

• Only students who have offers of employment are
  eligible to apply for SSNs
• Receive an employment verification letter signed
  by dept.
• Bring it to the International Office for their
  endorsement
• Apply at the Social Security Administration
• Take delay letters to payroll to make
  arrangements for earlier payment

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Forms to Complete to be Paid

• Forms Initiated by the Departments
• Payment Request Form
• W-4 to determine withholding
• (Most students claim single/1 or single/0
• I-9 to establish employment eligibility
• Forms available at Payroll
• 8233 tax treaty form and attachment

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Filing Taxes as a Non-Resident

• Helpful Hint 1 Dont ask your American friends
  about taxes
• Helpful Hint 2 Do go to our tax website for
  tax assistance at
• www.utexas.edu/international/taxes

19
Non-Residents file differently

• Different types of forms
• Forms are sent to different IRS office
• Interest income not taxable
• Non-residents do not pay social security tax
• Non-residents in F J status must file a
• tax form even if they have no U.S. income
• Some non-residents can claim tax treaties

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Filing differently continued

• Non-residents can not claim their dependents
  except for
• Canada
• Mexico
• Korea
• India

21
When Do We File Taxes

• In the U.S., taxes are filed in the spring for
  the previous year.
• Deadline for filing April 15th

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Where do I go for help?

• International Web Site for
• Immigration http//www.utexas.edu/international/
  cs/library.htm
• Taxes
• http//www.utexas.edu/international/taxes

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Who Can I Talk To?

• International Student Advisors
• Tax Advisors
• Office Hours
• Walk-In 900am-500 pm (weekdays)
• Except Tuesdays 100-500pm