The decision to study overseas is a great one. It will expand your horizons and open up potential career opportunities. It’s also going to be a lot of fun, but you already know all this, right?
What you may not know is how exactly to get the funding you need to study in another country. It’s a tricky situation, as it’s not always possible to get a loan in the U.S. for a university outside the country. There are, however, a few options to look into that can help make studying overseas possible. Some are easier than others, but all of them might be useful as you plan your studies.
Work Through Your University
The first thing to do is to decide what your plan is for studying overseas. If you’re looking for a shorter time abroad — typically a year or less — check with your university to see what study abroad programs are available. This way you can continue using whatever funding you have available, such as loans or scholarships.
Study abroad programs are typically geared for short stays in the country while providing lots of support to students. However, it might be not as immersive as you’d like. If you’re thinking of studying for a longer time, you’ll probably have to apply to a university outside of your current school.
Before doing that, though, it’s still worth checking in with your current school’s finance department. They might not be able to help, but they could know of some ways to obtain the funding you need. Read the rest of this entry »
Student loans are an integral part of college, especially in a country like the U.S. where tuition rates are sky high. However, international students are at a disadvantage when it comes to obtaining loans to help pay tuition. Federal loans are off the table and can only be acquired by citizens. However, more and more private loans are becoming available to international students. This is great news, as are some important benefits from obtaining student loans. Here are the benefits of student loans when you’re an international student:
- They Fill the Gap That Scholarships Cannot
If you’re studying internationally, hopefully you’ve scoured all available options for scholarships. Many universities will have opportunities for you, while some are known for being extremely generous to their international students. Getting your education fully funded is still unlikely unless you’re one of the absolute top students in your class.
Student loans aren’t merit based, so anyone attending an eligible school can potentially receive what they need to pay for school regardless of their grades. However, if you’re looking to go to school in the U.S., you’ll need a co-signer who’s either a permanent resident or a citizen. Your home country might also have some financial aid for international students; do a search for those.
Regardless, having to pay back loans is a lot less fun than receiving the money outright in a scholarship. Don’t fret – this brings us to the next benefit of student loans. Read the rest of this entry »
Though the best things in life are free, a college education – especially for international students – is not. Students from abroad are not only are typically required to pay out-of-state tuition rates and fees even at public universities, but also are subject to a variety of additional costs for international students that their domestic classmates need not worry about. Such costs vary by state, school, and even program but can affect a student’s bottom line and are therefore worth considering when it putting together a budget. Read the rest of this entry »