From losing socks in the laundry machine to grappling with the importance of a credit score, heading to college often means navigating the less glamorous realities of newfound freedom.
Penn offers a variety of financial services, health care resources, and wellness programs to assist students in their transition to college. The Daily Pennsylvanian compiled a guide of those resources for incoming students.
All things credit
For many students, a first step into adulthood is opening a credit card in their own name.
Credit card companies often offer programs specially designed for students that do not require prior credit history because they understand the dilemma of “needing credit to get credit,” according to Penn Student Registration and Financial Services. To build a credit score, students can also use secured credit cards, which avoid lender risk, and credit builder programs, which offer small repayable loans.
Many banks and credit unions, including the Student Federal Credit Union at Penn, offer credit builder programs designed to help people with no credit history establish one.
College senior and student credit union chief executive Jazz Ch’ng said the organization offers several benefits compared to traditional banks, including “lower fees” and “lower rates on loans.”
The program is structured to offer a “guaranteed” loan, meaning that the money students borrow is held in a “frozen account” while their automatic monthly payments are reported to the three main credit bureaus. This allows participants to establish a record of making payments on time and quickly raise their credit score.
The amount and length of the loan can affect how much a participant’s credit score increases. SFCU offers multiple options depending on factors such as how long a student plans to remain at Penn and how long they want to keep the account open. The dividends Penn’s student credit union pays on savings accounts can be “about two to five times higher” than those paid by other banks, according to Ch’ng.
To open an account, students must complete an application online or in person at SFCU’s campus office located at 3401 Walnut St.
When choosing a credit card, Wharton senior and president of Volunteer Income Tax Assistance at Penn Melissa Domen recommended that students consider whether a card charges an annual fee and how the card’s rewards align with their spending habits.
“If you’re a really big traveler, there’s a lot of different travel credit cards out there that will give you points and benefits based on travel or renting a car [and] staying at a hotel,” she said, adding that it is common for students to get “cash back” on their credit cards for “food or everyday purchases.”
The decision “comes down to what your goals are in the first place,” she explained.
Domen recommended that students — especially those with an income or money in a checking account — apply for a credit card as early as possible, because paying “off a credit card in full for a long period of time” will help them establish a credit history.
Wharton junior and chief operating officer of the SFCU Stella Kyaw underscored the importance of international students understanding “how different finances, credit scores, and transfers work in the United States” as compared to their home country.
Kyaw, an international student herself, said that opening a U.S. bank account is “the most important thing that you can do” after arriving in the country. While students can continue using international accounts, managing finances in the United States can be easier with a domestic one.
She added that SFCU allows international students to open an account using only their PennCard and passport.
Health insurance
Penn requires all students to have health insurance coverage, whether they enroll in the University’s insurance plan or obtain a waiver with proof of alternative coverage. This year’s deadline to do either is August 31.
Students must log into Penn Wellness’ Insurance Navigation portal using their PennKey to register for the Penn Student Insurance Plan. That plan is offered through Aetna Student Health, and students who enroll can access their insurance card about a week later on Aetna’s platform.
Those who choose to opt out of the Penn plan must log in to the Penn Wellness portal and submit their current insurance information. An accepted alternative plan must meet all University requirements: based in the United States, covering pre-existing conditions, and offering local Philadelphia medical and mental health care.
If students do not submit an approved waiver by the deadline, they are auto-enrolled in the Penn insurance plan and billed for a non-refundable annual premium fee.
Legal services
As students begin handling responsibilities such as housing, employment, and finances, unexpected legal issues can arise. The Undergraduate Assembly offers free support to members of the Penn community through its Legal Services program.
College and Wharton junior Khalil ElBechir, who serves as community engagement and sustainability director of the UA, told the DP that “pro bono legal consultations happen almost on a weekly basis” to answer “any legal questions that new adults or young adults don’t know how to respond to.”
Students can receive a free 30-minute, in-person consultation with the UA’s attorney partner. The service is intended to provide students with advice on minor legal concerns or serve as a starting point for addressing more complex legal matters.
Qualifying concerns can include “landlord and housing issues, domestic or interpersonal disputes, and business-related matters and intellectual property concerns.”
Appointments can be booked through the UA website by emailing the UA Legal Services team with a summary of their legal situation and general availability, although students are limited to one consultation per issue.
Wellness resources
Wellness at Penn offers a multitude of initiatives designed to build connection and community amongst students, including group therapy and workshops, peer support, and recovery communities. Services range from primary care and sports medicine to individual and group therapy.
Appointments can be scheduled by calling 215-746-9355.
“There is nothing too big or too small when it comes to making an appointment at Student Health and Counseling,” Mental Health Intervention & Programming Specialist at Wellness at Penn Alaina Spiegel wrote to the DP.
The organization hosts self-paced programs such as “be aware,” which highlights signs of distress and offers guidance toward Penn resources; “Refresh,” with a focus on sleep hygiene; and “Vibe,” which offers sex education. Peer Wellness Coaching is also available to help students adjust to life on campus, manage their time, and prioritize their wellbeing.
“It is so important to think about your physical and mental health proactively,” Spiegel added. “It is much better to reach out for help early than to wait until things get worse.”
Spiegel offered a word of advice to incoming students, emphasizing that there is “no perfect way to navigate young adulthood.”
“You will have successes and struggles along the way, and that is okay,” she wrote. “A big part of college is learning about yourself and finding a team of support that works for you.”
Penn Medicine operates two emergency rooms in West Philadelphia: one at the Hospital of the University of Pennsylvania at 34th and Spruce streets, and another at Penn Presbyterian Medical Center at 38th and Powelton streets.
Penn’s student-run Medical Emergency Response Team also works with Penn’s Division of Public Safety and the Philadelphia Fire Department to offer pre-hospital emergency medicine treatment.
MERT operates 24/7 on weekends and from 7 p.m. until 5 a.m. on weekdays and is staffed by Penn students who are EMT-certified. MERT can be reached at 215-573-3333.
Senior reporter Amy Liao covers clubs and societies and can be reached at liao@thedp.com. At Penn, she studies philosophy, politics, and economics. Follow her on X @amyliiao.
