Study Engineering in the U.S. -Loans for International Students
January 13th, 2020 by Al C

Engineering in the U.S.
Study Engineering in the U.S.

It is a dream for many international students who want to study engineering in the U.S. – Loans for International Students are also available. The U.S. is one of the best choices for international students who want to study engineering, and students who would like to earn a U.S. degree in engineering but require additional funding may be eligible for an international student loan.

A recent report from the Institute of International Education stated that in 2019 over 20% of international students enrolled at US universities were studying engineering or related courses.

Why is that the case? Well, aside from the quality education they get, students also have a higher chance of finding a job after they graduate. There’s also a huge likelihood of them getting high-paying jobs compared to graduates who studied in other countries.

Here we’ll show you why the U.S. is a great place to study engineering. We’ll also help you know how to get an international student loan in the country.

Specialize in the course you want

One of the best things about enrolling in engineering courses in the United States is that American universities offer numerous specialization courses.This gives you a great range of options to choose the course you really want. Take for example the University of Arizona which offers over ten engineering majors including aerospace, chemical, biosystems, environmental systems, and more.

The same goes for most universities. You’ll get to choose what course interests you, and take it as early as the third semester!

Work as soon as possible

Getting your first job after graduation is becoming more competitive by the day. Competition between fresh graduates is high, not to mention that you’ll also be competing with the experienced veterans in the industry. But, that’s less of a problem if you’re an engineering graduate with a degree from the U.S.

You’ve got the edge over others because of the quality of education you get. Plus, the demand in the American engineering market is so high. Companies such as Apple, Amazon, and other big multinational companies, as well as smaller companies may have opportunities for internships and training positions from time to time.

Boost your earning potential

Another good reason why studying engineering in the U.S. is a must is because you get a higher earning potential.

Graduating with an engineering degree in the US gives you a good reputation for being competitive, both in the academic and practical sense. Engineers working in the U.S. generally also earn higher salaries than those working in other countries.

According to PayScale, engineers can expect to earn a decent salary after graduating.

Benchmark salaries:

  • U.S.: $75,000
  • U.K.: $40,000
  • Germany: $60,000

Enjoy state-of-the-art amenities and equipment

The U.S. is the center of cutting edge technology in engineering. It’s the place to be if you want to experience top-tier education surrounded with the latest tools and equipment to support your dream of becoming an engineer one day. You’ll be taught and supervised by some of the best professors and top researchers in the country.

Furthermore, the U.S. government spends billions of dollars on university education. This assures that you get the best of both worlds, both in the learning experience and earning potential.

Work in the U.S.

The U.S. government allows companies to employ foreigners through Optional Practical Training (OPT) and Curricular Practical Training (CPT) as long as they meet the eligibility requirements. This can be done as long as workers are covered as “specialty subjects,” in this case, engineering being one of them.

Get the best engineering student loans in the U.S.

If you would like to study engineering in the US but your finances are lacking, then it might be best to get an international student loan.

Here at InternationalStudentLoan.com, we’ll help you see if you’re eligible to get one. We offer international student loans that are available at eligible schools for engineering students.

We have a loan comparison tool to help you know if you can apply and show you which loan suits you best.


Interested in Studying in Canada? Learn more about Loans for International Students in Canada (without a cosigner)

Learn about Financing Your International Education



Loans Without a Cosigner in the US and Canada
May 31st, 2019 by Al C

Loans Without a Cosigner for International Students in the US

Loans for students studying in the USA

If you are or are planning to become an international student inside the US, you will usually be required to have a cosigner when applying for a loan.

Cosigners for international student loans must be US citizens or permanent residents, and they must have lived in the US for the past 2 years. They must also have good credit history. Non-US citizens and non-US permanent residents cannot act as a cosigner for loans.

Although most international student loan applications require a cosigner, international students attending a select few colleges and universities in the US and Canada are able to apply for a loan without one.

If you’re not able to find a cosigner, then a “no cosigner loan” could be the best option for you.

Since most international students in the US do not have any credit history, a cosigner joins the standard international student loan application process. Loan approval and rates are then based on the creditworthiness of the cosigner.

The cosigner is then also legally bound to repay the loan if the borrower is unable to pay.

If you do not have a cosigner you will want to explore lenders that do not require a cosigner.

With no cosigner loans, instead of looking at credit history, lenders look at your academic success and career path, as well as other factors when assessing you for the loan. Some of the factors they will consider when you apply include your home country, graduation date, and what school you attend.

International student loans are typically only for non-US citizens studying in the United States. However, loan options now exist at a number of select universities for those who want to study in Canada!

Loans for International Students in Canada

Loans for international students in Canada

International students in Canada may now apply for a student loan without a cosigner!

International Student Loan is now working with a lender that is able to offer loans to international students, including US students studying at select schools in Canada. Until now it has been very difficult for international students to fund their education in the Great White North, but thanks to MPOWER Financing and International Student Loan, there are now a number of schools in Canada where loans are available without a cosigner.

If you are studying in one of the eligible schools, you can apply for a student loan to cover the costs of your education including tuition, housing, food, insurance, and textbooks.

Remember, with this type of no cosigner loan, rather than looking at your or your cosigner’s credit history, lenders look at other factors such as your academic record and career path, your home country, expected graduation date, and what school you will attend.

Students who are not US citizens or permanent residents and those attending schools outside the US/Canada are not currently eligible for an international student loan.

Finding and Comparing No-Cosigner Loans

If you’re an international student and would like to explore the option of a loan that doesn’t require a cosigner, you’re able to use our loan comparison tool to see if your school has one available. If they do, you can then research the terms and conditions of the loan and apply directly through the lender.

When researching a loan, here are a few things to consider:

  • How much you can borrow
  • The interest rate (and whether it’s fixed or variable)
  • The repayment period
  • When and how your funds will be disbursed

Once your loan application has been reviewed you will receive further details on your loan. These will include the interest rate and the amount you can borrow. These will vary by lender and depend your situation.

As an example, no-cosigner loans through our partner have a fixed interest rate and allow you to borrow up to $50,000 total over 2 years. You must state how much you would like to borrow on your application. The approved amount along with your designated interest rate will be assigned to you after your application has been reviewed.

If you are approved for a loan, funds are disbursed directly to the college or university.

To give you an idea of the length of time that is required, the entire process usually takes about 6 weeks, so be sure to plan accordingly.

To check for loans available at your school, including no cosigner loans, use the student loan comparison tool to get started.

Find out more about Cosigners in Cosigner 101.


International Student Loans – key facts about international students in the US and US study abroad students
February 26th, 2019 by Al C

Hand drawn Graphs and Trends on International Student Loans

It’s always interesting to look back at the previous year to get a feel for what’s going on in international education. Of course, we’re particularly interested in finding the perfect student loan for international students. So here are some key facts about international students in the US and US study abroad students.

Whether you’re a foreign student studying in the US, or a US citizen dreaming of studying abroad, we hope you enjoy learning a little more about the state of international education right now.

And when you’re ready you can learn about applying for your international student loan.

International students in the US

According to research carried out by The Institute of International Education (IIE), 271,738 international students enrolled at a US institution at the start of the 2017-2018 academic year. This is down almost 7% compared to the 2016-2017 figures (290,836 international students) and a further decline from the peak of 300,743 international students recorded in 2015-2016.

The total number of international students in the US was 1,094,792. This is up 1.5% on the previous year, but the rate of growth is at its lowest for over 10 years and a significant change from the 10% growth in total international student numbers in the US in the 2014-2015 academic year.

One encouraging trend is that international students represent a growing percentage of total student numbers. International students now represent more than 1 in every 20 students in the US (5.5% of all students). This has grown year on year.

Geography

In terms of the distribution of international students in the USA, we looked at the 10 most popular states.

The highest concentration of international students is in California. In 2016-2017 there were 156,879 international students in California. This rose 3.2% to 161,942 in 2017-2018.

The state with the biggest increase in international student numbers was Massachusetts. Massachusetts saw a staggering 8.4% increase in international student numbers to 68,192 compared to 62,926 in the previous academic year.

The following were notable in their decreases but remain amongst the top 10 most popular states for international students:

Ohio (down 2.8% to 37,583)

Indiana (down 2.0% to 29,994)

Texas (down 0.9% to 84,348)

Popular US schools for international students

The most popular schools, colleges, and universities for international students in the US may or may not surprise you. Amongst the top 5, we are proud to say that no-cosigner loans are available at all of them.

Coming out on top with a total of 17,552 international students was New York University, New York, NY. No-cosigner loans are available at New York University.

The rest of the top 5 are as follows:

#2 – University of Southern California – Los Angeles (Los Angeles, CA) – 16,075 international students. No-cosigner loans are available at University of Southern California – Los Angeles.

#3 – Northeastern University – Boston (Boston, MA) – 14,905 international students. No-cosigner loans are available at Northeastern University – Boston.

#4 – Columbia University (New York, NY) – 14,615 international students. No-cosigner loans are available at Columbia University.

#5 – Arizona State University – Tempe (Tempe, AZ) – 13,459 international students. No-cosigner loans are available at Arizona State University – Tempe.

Courses for international students in the US

The largest number of international students in the US are on Undergraduate programs (442,748), with 308,953 Graduate students enrolled.  There were 203,462 international students in the US on Optional Practical Training courses. There were also 65,631 international students on other, non-degree courses.

The three most popular fields of study for international students studying in the USA were Engineering (with 21.3% of all international students), Business and Management (17.9%) and Math and Computer Science (17.0%).

For more information about the options available to international students attending US schools visit our International Student pages.

US Study Abroad Students

If we turn our attention now to US students studying abroad, the latest statistics available are for the 2016-2017 academic year. This year saw the number of US students studying abroad rise a modest 2.3% over the previous year to a total of 332,727 students.

More than 25% of these students (85,786) enrolled in STEM courses (Science, Technology, Engineering, and Math). Business was the next most popular field of study, with Social Sciences coming in third.

The 292,467 US undergraduate students studying abroad in 2016-2017 represented 1.8% of the 16,298,944 total US undergraduate enrolment.

64.6% of US students studying abroad in 2016-2017 did so for a short period (e.g. a summer or a study period of 8 weeks or less). 33.1% spent a semester (or one or two quarters depending on the institution) abroad. Only 2.4% studied abroad for the long-term – an academic or calendar year (or more).

Where do US students abroad study?

Europe hosted the vast majority of US students studying abroad. Latin America & the Caribbean came in second and Asia took third place.

#1 – Europe, 181,145 total US students (54%)

#2 – Latin America & Caribbean, 51,513 US students (15.5%)

#3 – Asia, 38,621 US students (11.6%)

24,790 US students (7.5%) studied in more than one region in the 2016-2017 academic year.

On a country level, 39,851 US students were studying in the United Kingdom in 2016-2017. This represents 12% of the total number of US students studying abroad. The UK is the largest single concentration of US study abroad students.

Italy, Spain, France, and Germany represent the second to fifth places respectively.

China appears at sixth in the list, with 11,910 US students studying there (3.6% of the total).

There are some other surprise appearances in the list of the top 25 most popular destinations for US students studying abroad:

#9 – Costa Rica hosted over 8,000 US students

#11 – over 6,000 US students made South Africa their home for part of their studies

#13 – almost 5,000 students experienced student life in the Czech Republic

Besides the 332,727 students who enrolled in courses leading to academic credit, 36,975 US students attended over 400 other institutions and took part in non-credit work, research, volunteering, and internships abroad.

If you’re interested in finding out more about your options as a US student studying abroad please visit our Study Abroad pages.


International Students Must File Taxes – Due April 18th!
March 11th, 2016 by Lette Berhe

taxTax season has already begun and many international students are not aware that they must file a US tax return as well – even if they’ve never earned any money in the US.  All students must file their US taxes on or before April 18, 2016. For most international students, this process will be easy and straightforward. Read on to see what you need to submit, as well as helpful resources in case you need assistance

Does Everyone Need to File?
As part of your visa requirements all international students are required to file taxes. The forms you will need to submit are dependent on whether you have made any income or not.

Regardless of whether you’ve earned income or not, all international students and their dependents must file Form 8843. If you are in the US with dependents, this form must be filed by your dependents independently (which includes a separate envelope!).

What is Eligible for Taxation?
If, as an international student, you have been receiving an income in the US, then you will need to pay taxes on it. Below are 3 common sources of income for international students:

  1. Wages from a job in the United States (on-campus, off-campus, OPT job)
  2. A scholarship from an American organization
  3. Interest made from an American bank account

For a complete list of what could be considered a potential income source be sure to check the IRS website. If you have received income in the last calendar year, you will also need to file Form 1040NR-EZ.

For more in-depth information regarding how to file your taxes and what forms you’ll need to submit, be sure to read the Student Tax Return page from InternationalStudent.com.


5 Tips to Remember When Planning to Travel Back Home
February 24th, 2016 by Anum Yoon

airport waiting“There’s no place like home” is a popular saying in the U.S.

Studying in the U.S. is a great opportunity, but heading home to visit friends and family is especially exciting. No matter how much you’re enjoying your time in the U.S., it’s normal to feel some homesickness.

Before you go back to your home country, there are a few things to keep in mind before getting on the flight. These are easy to overlook, as you’ll likely have lots of other things on your mind as you prepare for the trip. These four tips will help make your trip a whole lot easier. Read the rest of this entry »


Top 5 Ways International Students Fund Their US Education
December 3rd, 2015 by Lette Berhe

On November 16th, the Institute of International Education published its 2015 Open Doors Report. The Open Doors Report is sponsored by the Bureau of Educational and Cultural Affairs at the U.S. Department of State and provides an in-depth look into the changing trends of international students who study in the U.S. and of American students who study abroad. This year’s report showed that in the 2014/2015 academic year, the number of international students attending U.S. universities reached a record high of 974,926- nearly 1 million students. This is a 10% increase, which is the highest growth rate in 35 years. The top 3 countries of origin, in order, were China, India, and South Korea. Students from these three countries made up more than 50% of all international students in the U.S. In addition to the above mentioned, there was significant growth in the number of international students coming from Brazil, Kuwait, and Nigeria. With all these growing numbers the real question is, how exactly do they fund their U.S. programs? Below are the top 5 ways internationals students funded their international education in the U.S.

  1. Personal and Family
    The Open Doors Report shows that in the 2014/2015 academic year personal and family finances were the primary source of funding for about 65% of international students. What does this mean exactly? This includes any personal savings you or your parents may have that are then used towards your higher education. Personal loans could also fall under this category, being that once you have received the loan it is part of your personal finances. It is always best to plan ahead and save as much money as you can, so that if you need to take out a loan it is the lowest amount possible. For more information on how to go about budgeting and saving click here!
  2. U.S. College and University
    The second most utilized source of funding came from U.S. colleges and universities. This year’s report shows that the following eight institutions were hosts to more than 10,000 international students: New York University, University of Southern California, Columbia University, Arizona State University, University of Illinois – Urbana-Champaign, Northeastern University, Purdue University – West Lafayette, and University of California – Los Angeles. With such high numbers of incoming students, it is not a coincidence. There are many universities that promote the influx of international students and offer financial aid through scholarships or grants. Once you decide to study abroad it is important to do your research about what the different universities can offer you.
  3. Foreign Government and University
    It is no coincidence that countries such as Kuwait and Brazil have had an incredible increase in the number of students in the U.S. The government of these two countries have been working hard to provide opportunities for their citizens to have access to an international education. In Kuwait the Ministry of Higher Education sponsors undergraduate and graduate students who wish to pursue programs abroad and in Brazil the government offers the Brazil Scientific Mobility Program for students in the Science, Technology, Engineering, and Mathematics (STEM) fields. With each new year more and more government programs are being created to promote international education.
  4. Current Employment
    Although it is possible to find and receive financial aid, sometimes it is not enough and a part-time job can help with any unexpected costs that may arise during your time abroad. Many international students are under the impression that they will not be able to work during their time in the U.S., but this is false. It is true, that your employment options may be limited, but it is possible. Take a look at our section on working in the U.S. for more information.
  5. Foreign Private Sponsor
    Before more and more government agencies were placing international education at the forefront, there were private businesses or organizations offering a bit of help to those interested in going abroad. Although a smaller percentage of students, one percent, made use of such sponsorships it is always good to be aware of your options to not miss out on any good opportunities.

Think you might need an international student loan? Check out our loan information page to see what we can offer you!


Top 3 Ways International Students Fund Their US Education
December 8th, 2014 by Lette Berhe

Metallic Money Buttons482339075This past November, the International Institute of Education (IIE) released its Open Door Report for 2014 during the 15th Annual International Student Week in Washington D.C. This annual census provides detailed data on many aspects of international education, such as the 8% increase to more than 886,000 international students studying in U.S. universities during the 2013-2014 academic year. Based on these students, the Open Door Report created a chart ranking the primary sources utilized by students to fund their U.S. education. Here are the top 3 ways international students fund their US education:

1. Personal and Family
2. U.S. College and University
3. Foreign Government or University Read the rest of this entry »


Pathway Programs
January 8th, 2013 by Jennifer Frankel

shutterstock_8454925Many international students dream of studying in the US but even the most dedicated face many challenges on their way to the bright lights of American higher education. As many would-be international students know, any number of hurdles in the form of stringent academic standards, demanding entrance exams, and frustrating language barriers – not to mention a dizzying amount of intimidating visa regulations – can turn up on the road to a degree in the US. Fortunately, necessity is the mother of invention and a new breed of student-guidance programs has been created to help equip international students with the tools they need to make the transition to an American college or university.

These initiatives – known variously as “pathway programs,” “gateway programs,” and “foundation years” – have long existed in the United Kingdom and Australia but have only recently begun to make inroads in the United States. These initiatives are as different from one another as they are new to the market, however, so careful consideration of the available options is warranted. Read the rest of this entry »


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