itsjun
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- Feb 9, 2022
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Context: Over the past two years, I have worked hard to secure a full scholarship at a university in the USA, which is extremely difficult for international students as many universities do not offer financial aid. I will be studying Economics.
Goal: I aim to accumulate capital and eventually establish my own business or invest in small startups. To achieve this, I plan to join the Rat Race for a brief period, securing a high-paying job after graduation and working in a company there for 3–4 years. During that time, I aim to live frugally and save as much of my earnings as possible to build up the necessary capital.
You might wonder why I am not taking the FASTLANE approach and starting small businesses immediately. The reason is that I want to fully take advantage of my university experience, which I can do at a much lower cost due to my scholarship. I want to network, develop life skills, and challenge myself, and I believe that university is the ideal place to do so.
Problem #1: I had intended to run a business while studying, but I have discovered that my F1 visa prohibits international students from working off-campus or being self-employed. The options for F1 visa holders to earn money are limited to on-campus jobs, which pay around $7–$8 per hour and have weekly hour restrictions. After taxes, there is not much left for me to cover my living expenses. My parents will be paying for my living expenses, but I want to do my best to reduce their expenses. My primary focus remains academic success and building connections––networking at different conferences, but I also want to learn as much as possible about doing business while in college.
What steps can I take to earn more money during my college years? Is it feasible to register an LLC in another country and use their payment system? I believe it is legal, but I am uncertain if it is a viable solution.
I am new to these matters, so I would appreciate any advice you may have. Please also suggest ways to make my goal more attainable.
Thank you so much for reading.
Sincerely,
An ambitious kid
Goal: I aim to accumulate capital and eventually establish my own business or invest in small startups. To achieve this, I plan to join the Rat Race for a brief period, securing a high-paying job after graduation and working in a company there for 3–4 years. During that time, I aim to live frugally and save as much of my earnings as possible to build up the necessary capital.
You might wonder why I am not taking the FASTLANE approach and starting small businesses immediately. The reason is that I want to fully take advantage of my university experience, which I can do at a much lower cost due to my scholarship. I want to network, develop life skills, and challenge myself, and I believe that university is the ideal place to do so.
Problem #1: I had intended to run a business while studying, but I have discovered that my F1 visa prohibits international students from working off-campus or being self-employed. The options for F1 visa holders to earn money are limited to on-campus jobs, which pay around $7–$8 per hour and have weekly hour restrictions. After taxes, there is not much left for me to cover my living expenses. My parents will be paying for my living expenses, but I want to do my best to reduce their expenses. My primary focus remains academic success and building connections––networking at different conferences, but I also want to learn as much as possible about doing business while in college.
What steps can I take to earn more money during my college years? Is it feasible to register an LLC in another country and use their payment system? I believe it is legal, but I am uncertain if it is a viable solution.
I am new to these matters, so I would appreciate any advice you may have. Please also suggest ways to make my goal more attainable.
Thank you so much for reading.
Sincerely,
An ambitious kid
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