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Charlottesville Related InformationHousingThough you will need to take care of this matter immediately after you come here, housing should not be a major problem in C'ville. Try to get here around 10-20 days before classes begin to search for room-mates and apartments and get used to the place. We will usually accommodate you till you find your own apartment and move in. Guest rooms for short-term residence are also available at the International Center (Phone: 1-434-924-7983). Reservations are required in advance. You might have to reserve a room for the first few days while you go apartment hunting if you don't want to stay at somebody's place. The rates are nominal (around $20 or so per night) but if you can arrange to stay with somebody for the first few days, you could save on that money. The University itself provides housing in the form of dorms, but we would advise you not to take them. Dorms tend to be slightly expensive, and may not include a kitchen. Also, you may not have a say in choosing your dorm mates. On the plus side, the dorms are cleaned regularly, are conveniently located near bus routes, and the rent includes electricity charges. This application packet contains a short summary of some of the University Housing options. A very good alternative to University Housing is to go in for your own apartment, or off grounds housing, as it is called. If you can arrange with some people for room-mates not too difficult you can go in for a private apartment. When looking for off- grounds housing, you might need help from your Community Host or Student Host. Just feel free to ask. There are many rental companies around the University with each offering a variety of prices and accommodations. Below we include some on-line pointers to information on finding an apartment in Charlottesville. WeatherIn the summer (June-August), the temperatures rise to the 90s (degrees F). In fall (Sept-Nov), its quite pleasant with temperatures in the 60s to 70s. In winter (Dec-Feb), it snows about 5-6 times and the temperatures dip below the 30s. In spring (Mar-May), again its pleasant with temperatures in the 60s to 70s. There is no particular rainy season as such (no monsoon!), but it rains on and off through out the year. The US Weather prediction system is quite good in this respect and you usually get a good idea about what to expect over the next few days. You can see the Current Weather Conditions at Charlottesville. Indian ResourcesThe Indian community at Charlottesville is substantial but not overwhelming. It is increasing gradually over the past 2 years. An Indian store ["Quick Pik" located on Angus Road, about a mile or two from the university] supplies most Indian spices and essentials. It may not be well stocked, but there are stores in Richmond and DC area which keep most of the indian items you need. The store also rents a good number of Indian movies, including most of the new releases. In Addition, the UVa library has a large collection of Indian Movies which are given free to students of UVa for viewing. Students often get together to enjoy potlucks and get-togethers. There is a Hindu Student Council which organizes various programs and events. There is also an Indian Student Organization at UVa. It has various events throughout the year. There is also a mailing list for people from the Indian Subcontinent. You are encouraged to subscribe to it. To subscribe, send a (plain text) message to majordomo@virginia.edu with "subscribe desis" (without the quotes) in the body of the mail. If your mailer adds extra lines after your mail (or if you use a signature), you should add a separate line containing the word "end" (again without quotes). BankingA number of choices are available when it come to selecting a bank for the first time. The first and obvious question is: Do you need a bank? The safe answer is "Yes". Hiding your lifesaving's under your bed is a pretty unsafe alternative. Once you've decided you need a bank, you'll have to select one that matches your needs. Most people keep accounts with just one bank; multiple banks are unnecessary. Kinds of AccountsMost banks offer two major kinds of accounts: checking and savings. Typically, most people get both at one bank. A checking account lets you write checks that are cashed from that account. If you have only a savings account, you cannot write checks, although you can withdraw cash from that account. Typically, savings accounts give better interest rates than checking accounts; the actual rates vary from bank to bank. Some banks require minimum deposits to be present in the accounts at all times; falling below the minimum deposit can incur charges. In addition, most banks offer CDs and IRAs. CDs are long-term savings account that usually have good interest rates (around 4-5.5%). However, once you put money in a 3-month, 6-month, 1-year, 2-year or 5-year CD, you cannot withdraw the money before the term expires. Early withdrawals incur substantial penalties. Invest in a CD only if you have a lot of money that you don't plan to touch for a while. IRAs are retirement accounts. Typically, incoming students are quite a while away from starting a retirement account; that sort of stuff is done by new professionals. Many organizations offer IRAs. Bank IRAs are super-safe in the sense that you're pretty guaranteed to get your money back when you turn 65; however, the returns are not inspiring. Types of BanksThe three major kinds of banks available today are:
Banks such as Wachovia, OneValley, First Union, First Citizen, First Virginia, First USA, First Albemarle, Bank of America, etc. are traditional banks. Credit unions usually have the phrase "Credit Union" in their name, for example, the University of Virginia Community Credit Union. Internet banks are a new phenomenon, and very little is known of them at this writing. All of these banks offer checking and savings accounts. Typically, traditional banks offer much poorer rates of interest than credit unions. For example, it is common for a traditional bank to offer 1% interest on savings provided the balance exceeds $500, and 0% interest on checking. In contrast, it is common for a credit union to offer 3.5% interest on savings and 3% on checking, no matter what the balance is. Moreover, traditional banks tend to have restrictive fees. For example, they could levy a fee if your balance drops below a minimum, if you visit a human teller more than three times a month, or if you want cashier's checks. In contrast, credit unions typically do not require minimum balances, permit unlimited access to human tellers and offer a small number of cashier's checks for free. The actual terms and conditions vary from bank to bank, but the bank representatives should be able to tell what they are exactly. Given the preponderance of advantages a credit union has over a traditional bank, why go for a traditional bank at all? Credit unions tend to admit members selectively. For example, once upon a time the UVa Credit Union was open only to employees of the University of Virginia; if UVa didn't pay you, you couldn't get an account. These days, the UVa Credit Union admits anyone living in Charlottesville. However, you need a social security number to be a member. In contrast, a traditional bank can probably start you up with just your passport. Credit unions tend to be restricted to the city where the main branch is located. For example, you won't find a UVa Credit Union branch outside Charlottesville. In contrast, traditional banks like Wachovia, Bank of America and Chase Manhattan are present almost everywhere, which means that you can access your account from anywhere. Why is accessing your account from anywhere important? Suppose you're in Boston or San Francisco or New Jersey, and you need cash. You can get cash from an ATM, but if you get it from a "foreign" ATM, i.e., one not owned by your bank, then you pay hefty service fees. For instance, if you are a UVa Credit Union member and you withdraw money from a Wachovia ATM, you'll typically pay $1.95 to Wachovia for the privilege of using their ATM, and $0.95 to UVa Credit Union for not using their ATMs. Silly, but true. Given that credit union ATMs tend to be sparser even in the cities where they are located, many people opt for banks for the convenience of accessing cash quickly. So what's the advice? We recommend getting a UVa credit union account, if you can. In other words, if you are fully funded by the University and get a social security number quickly, get a credit union account. Even if for some reason you are forced to open a traditional bank account, it might be worth your while to close it later and open a credit union account when the situation is more favorable. Sure, you'll lose about $5 in closing the account, but you'll more than recoup it in the higher interest rates. Checks (Cheques)If you open a checking account, you'll need checks. Typically, most bills in the US are paid by check, so expect to write quite a few checks, at least initially. In the US, you have to pay to get checks. The bank where you get an account will give you a few starter checks for free. After those few checks, you'll have to pay them a hefty amount (around $15) to get a batch of, say 250 checks. An alternative option is to buy checks privately. You can order checks for far cheaper by mail-order. Either ask your bank, or ask some American friends, or search the Web for forms. Typically, you should be able to get 250 checks for around $7. You'll need to supply the mail-order company with your bank's routing number and your selection of interesting designs, but that's about it. Mail-order checks are pretty safe, and they're certainly a much cheaper option than checks from your own bank. Using your AccountOnce you have a bank account, use it sensibly. Your bank will give you monthly statement or even a continuous online statement about your account. However, you'd do well to keep track of your account in your own passbook. Keeping track of your account may help you avoid overdrafts, i.e., writing checks for more money than you have. Overdrafts can result in serious charges from the bank, and in more extreme cases, severe punishment. Do not overdraft! Ask your employer whether your stipend or paychecks can be deposited into your bank account directly. If you are paid by UVa, it's likely you will be set up with direct deposit. Direct deposit is safe and convenient. Moreover, you're guaranteed the money will be in your bank exactly on pay day instead of whenever it suits your mood to go deposit the check in the bank. These days, a number of bills can be paid right from your bank account. For example, many credit card companies can withdraw money directly from your bank account on an appointed date to pay off your balance. Automatic withdrawals are a double-edged sword. If you can keep track of what's going to be withdrawn when and ensure you have enough money in your account, then automatic withdrawal beats writing checks and mailing them. Moreover, you're guaranteed that the money will be withdrawn on the last possible date before which you have to pay, so the money stays with you longer. However, if you cannot manage your accounts well, or if maintaining the right amount of money can be problematic for you, then avoid automatic withdrawals. All banks will give you an ATM (Automated Teller Machine) card to withdraw money. An ATM is a way to get money from your account quickly and at any hour. Some ATM cards double as credit cards; well, debit cards really. In other words, you can use the ATM card as a credit card in stores, but the money is withdrawn from your account immediately. There may be fees associated with such transactions; check with your bank. Credit CardsMost people in the US have one or more credit cards. A credit card is a convenient and safe way to make payments in most places. With a credit card, you don't have to carry too much cash on you. Also, you don't have to carry bulky checks which may not even be accepted in many places. Finally, in many cases, credit card transactions are quicker than check or even cash transactions. A credit card is a good way to build "credit history". Credit history is a somewhat nebulous term that's used to determine whether or not you're a safe person to whom money can be loaned. A good credit history is vital if you're buying a new car or a house. Having no credit history is not much better than having a bad credit history; it means people can't determine whether or not to loan money to you. You will need a credit card eventually, whether or not you want one. You might as well go about getting a credit card in a manner most beneficial to you. In order to do so, you'll need to investigate what kinds of credit cards are available, what they offer and how they really work. There are three kinds of different credit cards you can get:
Typically, traditional credit cards are issued by many companies in conjunction with either Mastercard, Visa, Discover or American Express. Debit cards are usually issued by banks, often in conjunction with Mastercard or Visa. Charge cards are issued by American Express and Diner's Club. Store cards are issued by large stores such as Sears, Lowe's or Victoria's Secret. Each of these cards works differently, of course. With a traditional credit card, you go to a store, buy what you want, and pay by swiping your card and signing on a receipt. At the end of a billing cycle, typically a month, the credit card company gives you listing of what you bought using the card, and you write a single check for the total. You do not pay anything extra for the convenience of using the card - typically, merchants are disallowed from charging a different amount depending on how the customer pays. When your credit card bill arrives, you can choose to pay the entire amount or anything above a minimum amount. If you do not pay the entire amount, you are charged interest (called the Annual Percentage Rate or APR) on the unpaid amount. A credit card is a great way to get into a lot of debt quickly. With a debit card, you go to a store, buy what you want, and pay by swiping your card and signing on a receipt. Immediately, your bank account is reduced by the corresponding amount. You do not pay anything extra for the convenience of using the card. A debit card is a great way to pretend like you have a credit card, but ensure your debts do not balloon - typically, if you don't have the money in your account, the debit card will be turned down by the merchant. With a charge card, you go to a store, buy what you want, and pay by swiping your card and signing on a receipt. At the end of a billing cycle, typically a month, the charge card company gives you listing of what you bought using the card, and you write a single check for the total. You do not pay anything extra for the convenience of using the card. When your charge card bill arrives, you must pay the entire amount. If you do not pay the entire amount, your card can be canceled and you could be given a bad history. A charge card is convenient if you want a credit card but don't want to bleed your account throughout the month. With a store card, you go to a specific store, buy what you want, and pay by swiping your card and signing on a receipt. At the end of a billing cycle, typically a month, the store gives you listing of what you bought using the card, and you write a single check for the total. You do not pay anything extra for the convenience of using the card. When your store card bill arrives, you must pay the entire amount. If you do not pay the entire amount, your card can be canceled and you could be given a bad history. A store card is convenient if you shop a lot from a particular store, because the store will probably give you discounts for being such a faithful customer. The Internal WorkingA credit card transaction is an indirect transaction; a third party is involved. When you pay by cash or check the entire amount of the transaction goes to the merchant. When you pay by credit card, typically, the merchant has to kick back a small percentage of the transaction to the credit card company. For example, when you pay with a Mastercard or Visa card, the merchant has to remit about 4.5% of the transaction amount to Visa or Mastercard. When you pay with an American Express card, the merchant has to remit about 8% of the transaction amount to American Express. The difference in rate probably explains why Visa and Mastercard are accepted in more places than American Express. Please note: the above information may be incorrect. Since remitting a percentage of the sale to the credit card company reduces profits, many businesses issue store cards for which they themselves are the third party. Credit card companies make money in three major ways. First, for every transaction, they make a small percentage in remissions. Second, if you don't pay your bill in full, they charge you an interest (APR) on the unpaid amount. Third, if you transfer balances from one card to another to take advantage of better APRs, or if you withdraw cash using your credit card, then they charge you a cash advance interest. Of these three ways, the last two are under your control - if you behave prudently with your finances, you won't end up owing the credit card company. The first way is up to the merchants - they can entice you with store cards, refuse to honor credit cards or accept your credit card under the philosophy that you probably wouldn't have bought what you didn't if it weren't for the convenient method of payment in your pocket. LimitationsIf mismanaged, credit cards can ensnare you in tremendous amounts of debt. You should be careful with what you spend and how you spend on your card. Also, be aware of hidden charges when using your card. For example, a small number of credit cards charge annual fees. Typically, credit cards issued by airlines (in conjunction with Mastercard or Visa) charge around $50 annually because they award you with frequent flyer miles for the money you charge on the card. Likewise, American Express and Diner's Club charge an annual fee for their charge cards. Cash advances and balance transfers incur interest starting from the day the advance/transfer was made. Using your credit card as an ATM card may involve charges from your bank and/or a cash advance from the credit card company. APRs charged by credit card companies on unpaid balances can be ridiculously high - from 10-20%. Introductory APRs can be low - 0-5% - but they may not be continued later. Keep track of what you spend on each card. All credit cards (except charge cards) have an upper limit on how much you can charge on them. The upper limit on debit cards is exactly equal to how much you have in the bank at that time. The upper limit on traditional credit cards can be increased automatically or if you request them and you happen to have a good history. While you'll often be prevented from exceeding your credit limit (sometimes, you may be allowed to exceed it and then charged for doing so), knowing how much you'll owe on a credit card is an exercise in restraint and sound financial management. Keep track of your receipts and tally them with your credit card bill. Don't keep too many credit cards - it can adversely affect your creditworthiness. Typically, a single Mastercard or Visa is a good start. Depending on your spending habits and benefits you get, you may want to branch out into other cards. BenefitsIf you can manage your finances well, a credit card can offer you a number of benefits. Time-to-time, your credit limit will be increased, which means you can eventually put a ticket to the home country on your credit card. As your credit limit increases, you may be upgraded to a "gold" or "platinum" card, which will you give you more benefits. For example, some platinum cards have cashback benefits. Discover's platinum card gives you up to 1% of your charges back to you as cash in a graded fashion. Citibank's Mastercard gives you a flat 1% on all transactions, although you have to accumulate $100 in cashback before you see that check come to you. Some cards give you film tickets, trinkets, store discounts and whatnot if you become a gold or platinum member. Typically, such members also have auto insurance - if they rent a car, they do not have to purchase collision insurance on the car because the card with which they pay covers it. Increasingly, you can pay a number of periodic bills with your credit card. For example, phone bills, ISP bills and cable bills can be paid with a credit card. Often, these merchants will set up auto payment for you so that you don't even have to get involved in the transaction - every month the charges are automatically added to your card. If you set up auto payment and set up automatic withdrawal of credit card charges from your bank account, be careful! You could run out of money quickly. If you dispute a charge on your credit card bill, you can call the company about it. Typically, the credit card company will not require you to pay the disputed charge until the matter has been settled. Settling the matter may involve the merchant calling you up. Depending on the nature and amount of the dispute, the credit card company may or may not charge you for settling the matter. TransportationThe University provides free bus service for students. Buses run frequently throughout the grounds and are convenient. Most of the offices you would have to visit initially are connected by the bus routes, so that should get you to wherever you want. In addition, most of us would be willing to give you a ride if you need one just ask! You may also use your own bicycles or automobiles on grounds. Bicycles have to be registered with the University Police (Phone: 1-434-924-7166). Parking permits for cars may be obtained to park anywhere on the grounds. Information, route maps and parking permits are available at the Parking and Transportation Office at 1101 Millmont Street (Phone: 1-434-924-7231). Also, there is a City Bus service by Charlottesville city. It goes to most shopping complexes and you can get a free transfer pass from the University Bus to travel on to the City bus. The university also runs an Escort Service to ferry students to their departments/labs from their home in the evenings and night (6pm to 7am everyday, Phone #: 434-242-1122). Buying a Used CarThe standard things I tell people who ask me about buying cars are:
After Buying a Car
Housing
Remember, investigate any apartment that you look at personally. Only you will know if the apartment meets your needs adequately. The CS Dept. has conducted an informal survey of the CS graduate students to see how they like the places they reside in. The survey is only a guide to help you get started looking. It is up to you to check out the place you want to live so that you are sure it meets YOUR needs! Search and ask around about the basic rules of signing a lease. Knowledge of this information will help you when you negotiate your contract. Keep air conditioning in mind when looking for housing. The summers here can be hot and humid. Also, find out what utilities are included in your lease. Ask if bills for water, sewer, trash collection, natural gas, or electricity come out of your pocket or theirs. If you do not live in University housing, you can avoid paying large deposits to utility companies by joining The Alumni Student Cooperative (TASC). In order to join, you must bring proof of enrollment (a copy of your acceptance letter will do). You will typically have to place one month's rent as a deposit on your apartment, so be prepared for this expense! Look how far the place is located from the place of your work. If you plan on riding a bicycle, your options expand to virtually all apartments near the university. If you plan on walking, apartments in the JPA/Stadium area are near to the engineering school while those on wertland street or monroe avenue are nearer to the hospital/biomedical engineering/health sciences dept. Check out the locations in the UVa Map or ask the specific management for an approximate distance to a landmark near your place of work (like Stadium for engineering school, hospital for health sciences). Housing Survey by CS Dept. |