Visa requirements are often based on bilateral agreements
between countries and can change unexpectedly. Students should contact
the nearest Mexican embassy for information on the visa requirements needed
to study in Mexico. Consult http://www.sre.gob.mx/delegaciones/dire.htm
for the address and contact information on the Mexican Consular Services
The official currency is the Mexican peso. Since
Mexico is so close to the U.S., many prices tend to stay the same in dollar
terms but may fluctuate more if there is a devaluation. The easiest way
to keep funds in Mexico is with an international credit card affiliated
with an ATM network such as Cirrus or Plus. Students should also bring
some U.S. dollar-denominated travelers checks with them as a back-up source
of funds. U.S. dollar traveler's checks are easily exchanged at banks
or exchange houses located all over Mexico City. It is a bit difficult
to establish a bank account in Mexico City but not impossible. Some banks
require the student visa, an initial deposit of 5000 pesos, proof of address
in Mexico and proof of an account under the students name in his or her
own country (banking reference). The STUDENT VISA IS A MUST for opening
a bank account.
Remember that any package coming into Mexico is an import – with customs costs and restrictions. Students should bring any needed supplies of medicine or electonic items with them with their luggage. Most imports face unexpected costs. Correspondence, especially to Canada or South America takes three weeks to a month to arrive. Cash, checks or credit cards should not be sent through the mail system or in checked baggage.
Living Costs and Money
We have a good variety of housing options
available, even though ITAM does not own or operate any type of residence.
Both the Academic Exchange Office and the landlords themselves make considerable
efforts to accommodate international students for the shorter time periods
they usually attend ITAM--in terms of furnishing the housing and forgoing
longer term, more stable commitments. We will do our best to offer comfortable,
secure accommodation within a reasonable distance from the our campuses
as a service to our exchange students. But the arrangement is ultimately
made between the student and the landlord. International students can usually
share an apartment with other international students, either close to campus
or to the nearest metro stations.
Costs vary in accordance with the level of services required for housing and the lifestyle pursued by the student. Mexico is a land of contrasts--particularly in terms of standard of living. At all price ranges, however, students should be prepared to pay two month's rent upon arrival at their chosen accommodation. One month's rent as a security deposit which will be refunded after all outstanding accounts are settled. Here are some figures for housing we regularly have available
Accommodation and lifestyle is a very personal matter and
it is difficult for ITAM to know individual preferences and priorities.
For those who would rather find their own housing upon arrival, can recommend a very low-priced but safe and clean hostels for approximately US$15 per night, which
we can reserve once we know the students' arrival date. We highly recommend
the hostel option for exchange students with doubts or concerns about the
Although relative prices fluctuate, in general, Mexico
City is less expensive than large cities in Europe and North America.
Transportation is relatively inexpensive. A taxi ride to ITAM from the
airport is currently around US$25. A metro ticket, which can take you
all over the city costs 2 pesos, a first class round-trip bus ticket to
Acapulco: 500 pesos. Hotels in beach areas vary greatly but usually some
can be obtained for US$50 per night or less. Meals at ITAM can be obtained
for US$4.50 at either campus and there are small restaurants in walking
distance of both. Mexico City has a good variety of restaurants for most
tastes and budgets. In many you can eat well for as little as 60 pesos. The main meal
is at midday. Breakfast and suppers tend to be smaller and therefore less expensive (Exchange rate
August 2008: $10.50 pesos per US dollar or about $16.00 pesos per euro).
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