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Finance

First of all, you should keep in mind that Chicago is one of the biggest cities of the United States. This situation makes it more expensive than the smaller cities, but that doesn’t mean that you will spend hundreds of dollars in each month. It is totally up to you. To give you an idea, some prices are given below:

Event

Price (Approximately)

Watching a movie at a movie theather

$9.00

Eating in a restaurant

starts from around $10.00 (but it varies a lot)

Rent

On-campus:

  • Aparment housing – (depends on which floor you are at and the number of rooms you have)- around $600 for a house
  • Residence hall housing (McCormick) – around $500 for each person
  • State Street Village Housing – around $1000 for each person

(Note that, you can find exact amounts at the website of IIT Housing Office)

Transportation

 

(Keep in mind that Chicago has a very well organised train network with many different routes.)

As long as you have a U-Pass card, you don’t pay any fee for the public transportation such as train and bus. When you register for classes, you will get a U-Pass card automatically, and around $80 will be charged at your account. Don’t worry this total amount is still very advantageous.

Furniture

(Second hand prices are given here because the brand new prices vary a lot from store to store. Also these second hand prices depend on the seller’s asking price, so we want here just to give an idea. You can also look at the following website for buying used stuff in IIT:http://bazaar.iit.edu/ )

Item

Price

Bed

$50-100

Desk Lamp

$5-10

Floor Lamp

$15-20

Office Chair

$20-25

Table

$10-40

Grocery

Starts from $100 for a person’s monthly needs.

Another issue is how you will transfer money from Turkey. You need to have a bank account here to transfer money from Turkey. At the beginning of each semester Chase Bank and Harris Bank have table in the campus for a week to create a bank account for you. These are only two banks out of many other banks. It is totally up to you to choose which bank. To transfer money from Turkey, creating an account at Citibank before you leave Turkey can be advantageous since there are many Citibank branches in Chicago.

You can pay all your IIT fees such as housing and tuition by credit card or by cash. At this point if you want to pay by credit card, you can do it online but keep in mind to check the upper limit of your credit card.

You can pay your total tutition fee one time per semester or you can pay by a nine-month payment plan which equally divides the total tuition for an academic year into nine installments. Note that if you prefer nine month payment plan an extra $80 is charged into your account for this service.