In order to live comfortably while you are in Lugansk, you will need to have about $USD 2500 per year available for living costs, above the cost of your tuition. The cost of living is cheaper than any other cities in the European countries. It is difficult to give a precise figure because of differences in the student lifestyle.
You will receive advice from financial advisers at the on how best to handle your money, but initially it is important to note that you should have some cash for immediate costs (e.g. airport costs or transport). You may need further funds in the form of travellers cheques which can be readily cashed. There are foreign exchange offices everywhere in Ukraine.
We strongly recommend that while in Ukraine you do not carry large amounts of cash on your person or leave cash in your room. We suggest opening a bank account as soon as possible after arrival. There are three banks with branches in the campus area. There are numerous automatic teller machines that dispense cash 24 hours a day.
Any major amounts of money may be sent in the form of a bank draft, but electronic transfers are, in most cases, the most efficient method of sending funds to Ukraine. Overseas cheques are sometimes difficult to clear and are not recommended.
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