4 Benefits of Student Loans When You’re an International Student
September 9th, 2015 by Anum Yoon

piggy bankStudent 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:

  1. 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 »


Understanding Interest Rates for International Student Loans
December 13th, 2012 by Jennifer Frankel

It comes as no surprise that international students are interested in, well, interest. After all, interest – broadly defined as the money above and beyond the principal (original amount of the loan) paid to the lender in exchange for borrowing money – represents a significant financial burden for any kind of loan. That burden, however, can be quite different for international students than it is for domestic students.

Varying international student loan interest rates are one of the key reasons for this. Indeed, while the interest rates on federal student loans are fixed by law, such loans are usually inaccessible to foreign students studying abroad in the United States. Fortunately, in addition to self-financing through personal savings and scholarships, international students can turn to international student loans when financing the goal of higher education. Unlike federal student loans, however, the international student loan interest rates are not fixed. Instead, a number of factors, when taken together, determine the interest rate on a private loan. Read the rest of this entry »


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