Own some old fashioned (paper) traveler's checks. Keep the serial numbers in a secure on-line location. Often same day replacements are available.
For those with extensive travels in the US, have a bank account at one or more of the large nation-wide banks. Walk into the bank, see the teller, and cash a check; modern banks have signature cards scans and sometimes photos of their customers available online. Likewise, keep scans of one's passports online too. Alternatively, store this digital information with someone -- family, employer's 24 hour security department, etc -- who can make it available online or via fax on demand.
Major credit card companies can often get cards replaced overnight, sometimes same day.
For those who can do so, it is good to have a solid relationship with one's banker, a specific person who recognizes one's voice. Yes, real bankers are fewer and fewer these days.
Responsibility of lodger being responsible for providing alternative accommodations varies by jurisdiction
And in OP's case, taking a summer graduate course:
open a bank account upon arrival
have the university issue a replacement student ID card -- the ID office should have the original photo in their database and thus able to verify identity