Financial Information for International Students
Declaration of Finances
To determine ability to meet educational costs, WallaWalla University requires applicants who are not citizens or permanent residents of the United States to submit a declaration of finances before final acceptance is given. Students are asked to submit 12 months of bank documentation from family/sponsors indicating ability to pay for duration of academic program. This information must be reviewed and approved before final acceptance can be given and the I-20 form, needed to secure the United States Student Visa, can be issued.
International Student Deposit
Students who are not citizens or permanent residents of the United States or Canada are required to pay an International Student Deposit before final acceptance can be given and the I-20 form, needed to secure the United States Student Visa, can be issued. The deposit is $3,000 for students who first enroll by Fall 2018. This deposit is held as long as the student remains enrolled and will be refunded at the end of the student's studies at WWU, less any outstanding balance owed to WWU. Interest is paid on the deposit, using the One-Year Constant Maturity Rate.
Walla Walla University requires all international undergraduate and graduate students, including Canadians, to have health insurance that will cover them while they are enrolled at WWU. If students require assistance in finding a health insurance plan to meet their needs, please see wallawalla.edu/insurance or contact the University Clinic at 509/527-2425 for assistance.
International students (except Canadian students) will be expected to use the Regular Payment Plan described in this bulletin, which requires payment of all estimated expenses for the next quarter, plus any balance remaining from a prior quarter, before financial clearance is given. The payment deadline is the Wednesday prior to the start of classes each quarter.
Students have many payment options to pay online (wallawalla.edu/payment):
· Credit cards (American Express®, Discover®, MasterCard®, Visa®) have a 1.75% processing fee.
· Electronic checks and debit cards do not have a fee.
· International students can also make payment by wire transfer. Call the Accounting Office at 509/527-2312 for wiring instructions, or email email@example.com.
According to Immigration and Naturalization Services regulations, international students attending WWU while on student visas are only permitted to work on campus and are limited to a maximum of 20 hours of work per week during periods of enrollment. Spouses and children who are not students may not accept employment under any circumstances.
International students on student visas do not qualify for the majority of loans and grants described in this bulletin. These students are eligible to receive scholarships, such as Achievement, Out of Area, Leadership, National Merit, General Studies Honors, Transfer Scholarship, Continuing Student Scholarship, Church Match Grant, if they qualify. Canadian students can find information about other resources at wallawalla.edu/canada-aid.
Foreign Currency Exchange Contracts
Lock in Your Exchange Rates For the Entire School Year: Many of our students have expressed a need to be able to quantify the exact amount that their tuition will cost them in their local currency. They want to be able to count on the tuition cost for the entire school year to be unchanged in terms of their own local currency. This can be done via a financial instrument called a “forward exchange contract”. The best news is that there is generally no transaction cost to the student to enter into a forward exchange contract. If you are interested in locking in your foreign currency conversion rates for the entire school year, please contact a foreign currency exchange firm that offers forward exchange contracts to the general public. For your convenience, we have identified two such firms that can help our foreign students to “lock-in” their tuition costs:
AFEX-Associated Foreign Exchange, Inc.
International Payments through Western Union.
Please note that a forward exchange contract may be disadvantageous to you if during the school year your local currency appreciates in value relative to the U.S. dollar.
Please also note that the above firms can also assist international students in wiring their tuition payments to Walla Walla University for a nominal fee.