When you study abroad, one of the first things you need to do is open a bank account in your host country. This can be a daunting task, especially if you’re not familiar with the banking system in your new home. In this blog post, we’ll take a look at international bank account numbers (IBANs), what they are, and how they work.
International bank account number
An IBAN number is an international standard for identifying bank accounts. The purpose of an IBAN number is to facilitate cross-border payments by ensuring that money is transferred to the correct bank account.
An IBAN number consists of up to 34 characters, including both letters and numbers. The first two characters are always alpha characters (letters) followed by two digits, and then up to 30 more characters. The characters can be upper or lower case.
The format of an IBAN number varies from country to country. For example, the IBAN number for a bank account in the United States would be different than the IBAN number for a bank account in Germany.
When you open a bank account in your host country, the bank will provide you with an IBAN number for your account. You will need this number when making or receiving international payments.
Understanding your IBAN
In order to ensure that money is transferred to the correct bank account, it’s important to understand how to read an IBAN number. Let’s take a look at an example:
Let’s say you have an IBAN number that looks like this: GB82 WEST 1234 5698 7654 3210
The first two characters (GB) indicate the country code for the United Kingdom. The next two characters (82) indicate the sort code for the particular bank branch where your account is held. The sort code is unique to each bank branch in the UK.
The next six characters (WEST12) indicate your individual bank account number. The final four characters (3432) are known as a check digit, which is used to verify that the IBAN number is correct.
Using an IBAN
Now that we know how to read an IBAN number, let’s take a look at how they are used in practice.
When making or receiving an international payment, you will be asked to provide your IBAN number. The sender will use this information, along with your name and address, to make sure that the money is transferred to your correct bank account.
It’s important to note that you should never give your IBAN number to someone you don’t know or trust. Your IBAN number can be used to make unauthorized withdrawals from your bank account, so it’s important to keep it safe and secure at all times!
As an international student studying in the United States, it’s important to understand how the banking system works in your new home. One of the first things you’ll need to do is open a bank account, which will require you to have an understanding of international bank account numbers (IBANs). In this blog post, we’ve taken a look at what IBAN numbers are and how they work. We’ve also looked at how they are used in practice and why it’s so important to keep them safe and secure at all times!
If you are an international student planning to study and stay in the United States, you will need to obtain a student visa. The process of applying for a student visa can be quite confusing and overwhelming, but it is important to make sure that you have all of the required documents before beginning the application process.
If you follow all of the steps accurately and submit all of the required documents, you should have no problem obtaining a student visa.
In this article, we’ve shared a list of all the documents as well as some other information you’ll need to apply for a student visa.
What do you need for a VISA application in the United States?
If you are applying for a visitor visa or student visa, you will need to schedule an appointment with your local embassy or consulate of the U.S. The first step is to complete the DS-160 form which is available online.
After that, you will need to submit the following documents:
A valid passport
Visa appointment letter
Proof of financial stability
You might also need to submit additional documents depending on your individual circumstance. For example, if you are applying for a student visa, you will need to provide evidence of your admission to a university or college in the United States.
How to apply for a student visa in the U.S?
If you want to apply to the United States for a student visa, you will need to follow these steps:
1. Gather all the documents related to the U.S. student visa
Whether you want to travel to the U.S or study there, you will need to get a student visa. The documents required for a student visa are mentioned above.
2. Schedule an appointment at the U.S embassy or consulate in your home country
After you have all of the required documents, the next step is to schedule an appointment at the nearest U.S embassy or consulate in your home country. You can do this by visiting the website of the Department of State’s Bureau of Consular Affairs.
3. Attend your visa interview
Once you have scheduled your appointment, you will need to attend the visa interview at the embassy or consulate on the date and time of your appointment. You will be asked questions about your intention to visit or study in the United States as well as other general questions.
4. Wait for a decision on your visa application
After the interview, the consular officer will decide whether or not you are eligible for a student visa. If you are approved, you will be asked to pay the visa issuance fee and your passport will be stamped with the student visa.
The process of applying for a student visa is simple if you have all of the required documents. Just make sure to follow all of the steps accurately and attend your visa interview on the specified date and time.
How long does it take to get approved for a visa?
There is no definite answer to this question as it can vary from individual to individual. The processing time for a student visa is usually between 3 to 5 weeks, but it can take longer in some cases.
It is important to note that you cannot apply for a student visa more than 120 days before the start of your program in the United States. You should also not make any final travel plans until you have received your visa, as it can take several weeks to obtain one.
So there you have it! These are all the documents you will need to apply for a student visa in the United States. Just make sure to follow all of the steps accurately and submit all of the required documents to avoid any delays in the process. Good luck!
Please note: nothing contained in this article should be taken as visa advice, and you should do your own research and speak to an advisor.
US visa interview questions and answers! Millions of students dream of studying in the United States each year. From high-quality education to better job prospects, there are many reasons why students want to study in the US. However, the process of getting a US student visa can be quite daunting.
One of the most important parts of the US student visa application process is the interview. During the interview, applicants will be asked a series of questions by a consular officer about their plans to study in the United States.
If you have an upcoming interview for a US student visa, it’s important to be prepared. In this article, we’ll provide some tips on how to prepare for your interview as well as some common questions that you may be asked.
Is it required for international students to have a visa to study in the US?
If you are planning to study full-time in the United States, you will need to obtain a student visa. There are two main types of student visas for the US: the F-1 visa and the M-1 visa.
The F-1 visa is for students who are planning to study at a university or college, while the M-1 visa is for students who are planning to study at a vocational school.
Your student visa is one of the most important documents that you will need to obtain in order to study in the United States. Without a student visa, you will not be able to enter the country.
What is an F1 visa in the United States?
The F1 visa is a non-immigrant visa that allows foreign students to study at a US college or university. To be eligible for an F1 visa, you must be enrolled in a full-time degree program at an accredited institution.
If you are granted an F1 visa, you will be allowed to stay in the United States for the duration of your studies. You will also be able to work on campus part-time and participate in a paid internship or training program related to your field of study.
After you graduate, you may be eligible to stay in the United States for up to 12 months under the OPT (Optional Practical Training) program. During this time, you can work full-time in your field of study.
F1 visa interview questions and answers
Do you plan to study and stay in the US? Then you have to prepare yourself for an F1 visa interview. Here are some of the most common questions that you may be asked during your interview:
1. Why do you want to study in the United States?
This question is one of the most common ones that you will be asked during your interview. The consular officer wants to know your reasons for wanting to study in the United States and whether or not you are genuinely interested in studying there.
Some good reasons to give for wanting to study in the United States include:
To get a high-quality education
To learn about a new culture
To gain new experiences
To get a placement
2. Do you have any relatives or friends in the United States?
The consular officer may ask you this question to determine whether you have any ties to the United States. If you do have relatives or friends in the United States, it will be easier for you to adjust to life there and you will be less likely to want to stay in the US after your studies.
3. What do you want to bring back to your home country?
After studying in the United States, you will have gained new knowledge and skills. The consular officer wants to know what you plan to do with these skills and how you will contribute to your home country. This is a great opportunity to talk about your future plans and what you hope to achieve.
4. What will be your major?
The consular officer will want to know what you plan to study during your time in the United States. They may also ask you about your previous academic record and why you have chosen your particular field of study. Be sure to share your academic goals and what you hope to achieve by studying in the United States.
5. How many colleges did you apply for?
The consular officer may ask you about your college application process and how you chose the school that you are planning to attend. They want to make sure that you have done your research and that you are genuinely interested in attending the school.
6. Have you been to this country before?
If you have been to the United States before, the consular officer will want to know the purpose of your previous trip and how long you stayed in the country. They may also ask you about your plans for this trip and whether or not you have any ties to the United States.
7. What is your financial situation?
The consular officer will want to know how you plan to finance your studies in the United States. They may ask you about your family’s financial situation and whether or not you have scholarships or other forms of financial aid. Be sure to have all of your financial documents ready to show the consular officer.
8. Do you know any professors at the school you are planning to attend?
Again, it’s one of the most frequently asked questions during an F1 visa interview. The consular officer wants to know if you have any connections to the United States and whether or not you have done your research about the school. If you do know professors at the school, be sure to mention their names and how you came to know them.
9. What are your plans after graduation?
The consular officer will want to know your plans for after you graduate from your program in the United States. They may ask you about your career goals and how you plan to use your degree in your home country. Be sure to have a well-thought-out answer to this question.
10. Do you have any questions for us?
This is your opportunity to ask the consular officer any questions that you may have about the visa process or your trip to the United States. Be sure to take advantage of this opportunity and ask any questions that you may have.
These are just some of the questions that you may be asked during your interview. Be sure to prepare for your interview by practicing your answers to these questions. Also, be sure to bring all of the required documents with you to your interview. Good luck!
A student visa is a study permit that allows foreign nationals to study in Canadian educational institutions. It doesn’t matter where you come from; if you are from a country outside of Canada, you need a student visa. So the question is how to apply for a student visa? It will be impossible to study in Canada if you don’t have a student visa.
In this article, we will be sharing a step-by-step guide on how to apply for a study permit in Canada. So if you are an international student looking to study in Canada, this article is for you.
What is a student visa?
Your student visa is nothing but a study permit so you can study in Canada. For international students, a student visa is mandatory to study at any educational institution in Canada.
Getting a student visa can be a long and tedious process if you don’t know where to start. The student permit is only allowed to those who have been accepted for the Canadian educational institution and can prove that they have enough funds to support themselves during their stay in Canada.
Additionally, your study permit application must be approved before you can travel to Canada. So you must have all your documents in order and know the process before you start applying for a student visa.
How does the Canadian student visa work?
Similar to any other country, if you want to study in Canada, you will need a student visa. To get a student visa, you need to be accepted by a designated learning institution (DLI). A DLI is a school, college, university, or any other educational institution that has been authorized by the Canadian government to host international students.
You can find the list of all the DLIs on the Immigration, Refugees, and Citizenship Canada (IRCC) website. Once you have been accepted by a DLI, you can apply for a student visa.
It’s important to note that you can’t apply for a student visa until you have been accepted by a DLI. So make sure a DLI has accepted you before you start the visa application process.
Additionally, you can’t apply for a student visa if you are from a country that has been exempted from the student visa requirements. You can find the list of these countries on the IRCC website.
What are the requirements for a Canadian student visa?
Here are the requirements that you need to meet to be eligible for a student visa:
A valid Passport
Copies of 10th, 12th, and Degree certificates
SOP (Statement of Purpose)
Certificates of extracurricular accomplishments (Sports, music, dance, etc.)
An acceptance letter from a Canadian university
English speaking and writing skills
Your college or university will give you all the details of the required documents. If you are planning to apply for a Canadian study permit, make sure to gather the required documents before you start the application process. Contact your college or university, they will be able to guide you on the required documents.
In addition to the above-mentioned requirements, you also need to prove that you have enough funds to support yourself during your stay in Canada. You can do this by showing the following:
Your bank statements for the past 4 months
Your parents’ or guardians’ bank statements for the past 4 months
Your student loan documents
Your scholarship or award letters
Your income tax returns for the past 2 years
Your parents’ or guardians’ income tax returns for the past 2 years
Any other documents that prove you have enough funds to support yourself during your stay in Canada
Once you have gathered all the required documents, you can start the application process.
How much does it cost to apply for a student visa?
The application fee for a Canadian student visa is CAD150, which is around $114. The fee is non-refundable and you need to pay it online when you apply for the visa. The payment must be paid online while you are completing the application.
You might also need to pay the biometrics fee, which is currently CAD85 (~$64). The biometrics fee covers the cost of collecting your fingerprints and a photo. You need to pay the biometrics fee when you submit your application.
How to apply for a Canadian student visa?
Now that we know one or two things about the requirements for a student visa and the application process, let’s take a look at how you can apply for a Canadian student visa.
1. Apply for a Canadian college or university
You can’t apply for a student visa if you don’t have an acceptance letter from a Canadian college or university. So the first step is to find a school and apply to it.
The application process for colleges and universities in Canada varies depending on the institution. Some colleges and universities have their application process while others use the common application portal known as OUAC. So make sure to do your research and find out how to apply to the college or university of your choice.
2. Get your documents in order
Once you have been accepted by a Canadian DLI, you need to start gathering the required documents for the student visa application. Gather all the documents mentioned above and get them in order. Your college or university will give you all the necessary information about the required documents.
3. Complete the application form
Now that you have all your documents ready, it’s time to complete the application form. You can find the application form online on the IRCC website. Start by creating an account on the website and then log in to begin the application process. Make sure to take your time and fill out the form carefully. You don’t want to make any mistakes while filling out the form as it might result in a delay or rejection of your application.
4. Pay the application fee
Once you have completed the form, you need to pay the application fee. The application fee for a Canadian student visa is CAD150, which is currently about US$113. You can pay the fee online through the IRCC website using a credit card. You might have to pay a biometric fee as well if you are from a country that requires one.
5. Submit your application
After you have paid the fee, all you need to do is submit your application. You can either submit it online or through the mail. If you choose to submit it online, you will need to send your documents to the visa office by mail. It might take 3-4 weeks for your application to be processed. So make sure to be patient and check regularly for updates on the application status.
Applying for a Canadian student visa is not a complicated process as long as you have all the required documents and information. Just make sure to follow the instructions carefully and submit your application well in advance so that you have enough time to get your visa processed. Good luck!
Community college can be a great way to get an education without breaking the bank. But for international students, it can sometimes be difficult to find the money to pay for school. That’s where international student loans come in.
These loans are specifically designed to help students from other countries pay for their education. These loans can help you deal with your tuition payment, as well as other educational expenses like books and supplies.
In this article, we’ll discuss everything you need to know about international student loans for community colleges. This includes information on how to apply, top tips, and more.
What is a community college?
A community college is a type of higher education institution that offers two-year associate degrees and certificates. In the United States, community colleges are also known as junior colleges.
Community colleges are usually smaller and less expensive than four-year universities. They’re also more focused on providing vocational and technical training.
These colleges are ideal for students who want to get a degree without spending a lot of money, as well as students who are undecided about their plans.
Community colleges also have an open admissions policy, which means that anyone can enroll as long as they have a high school diploma or equivalent.
Different types of loans for community colleges
There are two main types of loans that you can use to pay for community college: federal student loans and private student loans.
1. Federal student loans
Federal loans are loans that are given by the government. These loans are need-based, which means that your financial need will be taken into account when you’re applying for the loan. These loans have a fixed interest rate and flexible repayment terms.
There are 4 main types of federal student loans:
1 Subsidized loan: These loans are given to students who demonstrate a financial need. The government will pay the interest on these loans while you’re in school.
2 Unsubsidized loans: These loans are not based on financial need. You’ll be responsible for the interest on these loans from the time that you take them out.
3 PLUS loan: These loans are given to parents and graduate students. They have a fixed interest rate and flexible repayment terms.
4 Consolidation loan: These loans are used to consolidate multiple federal student loans into one loan. This can help you get a lower interest rate and more flexible repayment terms.
2. Private student loans
A private student loan is given by banks, credit unions, and other private lenders. Private loans are not as flexible as federal loans, and they often have a higher interest rate.
Private student loans are not need-based, which means that your financial need will not be taken into account when you’re applying for the loan.
Before you apply for a private loan, you should always try to get a federal loan or apply for financial aid first. This is because federal loans have more flexible repayment terms and lower interest rates.
How to apply for an international student loan
If you want to apply for an international student loan, there are a few things that you need to do first.
1. Get a cosigner
One of the first things that you need to do is get a cosigner. A cosigner is someone who agrees to repay your loan if you cannot. The cosigner can be a friend, family member, or anyone else who is willing to help you out. They should have good credit and a steady income.
2. Shop around
The next thing that you need to do is shop around for the best loan. There are a lot of different lenders out there, so you’ll want to compare interest rates, repayment terms, and fees. Every lender has its requirements, so make sure you read the fine print before you apply.
3. Apply for the loan
Once you’ve found a lender that you’re comfortable with, you can apply for the loan. You’ll need to fill out an application and provide information about your finances and education. The lender will then review your application and decide whether or not to approve you for the loan.
4. Get your money
If you’re approved for the loan, the lender will send you the money. You can use this money to pay for your tuition, books, and living expenses. Just make sure you keep up with your monthly payments and repay the loan on time. You have to remember that student loans are also loans and they need to be repaid.
5. Repaying your student loan
Once you graduate from college, you’ll need to start repaying your student loan. You’ll have a grace period of 6-12 months before you need to start making payments. This grace period gives you time to find a job and get on your feet before you have to start repaying the loan.
Top tips for a community college student taking out a loan
So now that you know one or two things about student loans, here are some tips for a community college student taking out a loan.
1. Borrow only what you need
One of the most important things that you can do is to borrow only what you need. You might be tempted to take out a larger loan so that you have more money to spend, but this is a bad idea. You’ll end up paying more in interest and you could even end up in debt.
2. Focus on your academics
Most lenders consider your academic history when you’re applying for a loan. So, if you want to get a good interest rate, you need to focus on your academics. This means getting good grades and taking challenging classes. This will show the lender that you’re serious about your education and that you’re likely to succeed.
3. Shop around for the best loan
Just like with anything else, you need to shop around for the best loan. This means comparing interest rates, repayment terms, and fees. You should also read the fine print so that you know what you’re getting into.
4. Apply for federal loans first
As we mentioned before, federal loans have more flexible repayment terms and lower interest rates. So, if you’re eligible for a federal loan, you should apply for that first. You can always get a private loan if you need to, but you should try to get a federal loan first.
5. Make sure you can afford the payments
Before you take out a loan, you need to make sure that you can afford the monthly payments. You don’t want to end up in debt because you can’t make your payments. Make a budget and make sure you can afford the payments before you take out the loan.
So there you have it! Community colleges are great for a lot of reasons, but they can be expensive for international students. If you’re thinking about taking out a loan to pay for your education, it is a great idea but you have to be careful. Make sure you borrow only what you need and that you can afford the monthly payments. If you do that, you’ll be on your way to a successful future. Thanks for reading!
In a world where the competition is increasingly fierce, it’s no wonder that scholarships are in high demand. In fact, for international students who have to pay higher tuition fees than their local counterparts, it can be a life-changing opportunity. Fortunately, there are many scholarship opportunities available to today’s international students.
This article will cover some of the best and most popular options for international students looking for international financial aid. We will also cover some important things that might help you in your scholarship hunt.
What is an International Scholarship for Students?
An international scholarship, as the name suggests, is a financial award available to students who are not citizens of the country in which they are studying. International scholarships can come from a variety of sources, including governments, universities, and private organizations that support a student for his/her financial need.
It helps students to pay for their educational expenses while they are attending a university or college in another country. Most scholarships are either full or partial. In full scholarships, the student receives all the money they need to cover their tuition and living expenses. Partial scholarships give students a percentage of the money they need.
Types of International Scholarships
There are various scholarships available to students from other countries. The most common ones include:
1. Academic Merit based scholarships
Merit scholarships are awarded to students based on their academic or other achievements. Often, the selection committee will look for students who have shown potential in their chosen field of study.
2. Need-based scholarships
These scholarships are awarded to students who can demonstrate that they need financial assistance in order to attend university. The selection committee decides how much money each student needs, and bases the scholarship on that amount.
3. Career-based scholarships
These scholarships are offered to students who wish to study in a particular field of work after graduation. For example, there may be scholarships available for students who want to become doctors, lawyers, or engineers. These types of scholarships are usually very competitive.
4. University-specific scholarships
Scholarships are also available to students at particular universities or in particular fields of study. These awards are usually given by private companies in the university’s field of business, industry, etc. Such awards can be vital for international students who may not have many other scholarship options.
5. Government-specific scholarships
These scholarships are funded by national governments and international organizations such as the United Nations. They can be instrumental in helping students study at universities around the world.
6. Location-based Scholarships
Location-based scholarships are one of the most famous scholarships among international students. They are usually restricted to students who wish to study in a particular region, such as Europe or South America. It opens up opportunities for bright students who belong from rural areas of their home country.
There are many, many more types of scholarships available to international students studying outside their home countries. It is important to research all the options carefully before applying!
Best Study Abroad Scholarships for an International Student (Undergraduate Students/Graduate Students)
There are many different scholarship programs available for international students. However, not all of them are created equal. Some scholarships are more prestigious and difficult to obtain than others. Here are some of the best scholarships available to international students:
1. The Fulbright Scholarship (USA)
The Fulbright program is one of the most famous and highly respected scholarships in the world. It is offered to students who wish to study in the United States. The scholarship covers all expenses, including tuition, room and board, and travel. The Fulbright Scholarship is awarded through a competitive selection process in which students are judged according to their academic and leadership potential. It is regularly in the top ten of all scholarships available in the world.
2. British Chevening Scholarships (UK)
The Chevening Scholarship is offered by the British government to students who wish to study in the United Kingdom. The scholarship covers all expenses, including tuition, room and board, and travel. The selection process is highly competitive, and only the top students are chosen. It is one of the most prestigious scholarships available to students from around the world.
3. University of Alberta International Country Scholarship (Canada)
The University of Alberta International Country Scholarship is provided by the University of Alberta (Edmonton, Canada) is open to international students who are not Canadian citizens or permanent residents. It offers scholarships for bright students who have shown excellence in their previous academic work. The scholarship covers the cost of tuition and living expenses.
4. Cambridge Trust Scholarship Awards (UK)
The Cambridge Trust Scholarship Awards are offered by the University of Cambridge (UK) to international students who demonstrate outstanding academic achievement and potential in their chosen field of study. The scholarship is awarded for the full duration of a student’s program at Cambridge and covers the cost of tuition and living expenses.
5. The Humphrey Fellowship Program (USA)
The Humphrey Fellowship Program is a fully funded fellowship offered by the United States government to students from developing countries who wish to study in the United States. The fellowship covers all expenses, including tuition, room and board, and travel. Since it is a government-backed program, the Humphrey Fellowship is extremely competitive.
6. Bell Fellowship for International Scholars (USA)
The Bell Fellowship offers fellowships to future leaders and young professionals in the field of population and development. The program offers a two-year research and leadership training at one of the world’s leading universities, with a focus on social and environmental determinants of population health, aging societies, workplace and wellbeing, and social and family demography. Selected fellows receive a full scholarship that covers tuition, room, and board and travel expenses.
7. Rhodes Global Scholarship to Study in (UK)
The Rhodes Global Scholarship is for exceptional students from outside the UK to study at the University of Oxford. It was one of the oldest and most prestigious scholarships in the world. The Rhodes Scholarships were founded in 1902 by Cecil Rhodes and are open to students from around the world who have the passion to make a difference in their community. The scholarship awards full tuition, room and board, and travel expenses for two or three years of study at Oxford.
8. Chevening Scholarships (UK)
Chevening Scholarships, funded by the Foreign and Commonwealth Office, are available for postgraduate study in almost any subject at master’s level at participating UK universities. The scholarship is open to students from around the world who have been invited by a UK university to study for an English language master’s degree.
9. AAUW International Fellowship (USA)
The American Association of University Women (AAUW) offers International Fellowships for women who are not United States citizens or permanent residents. The fellowship is open to graduate students in any discipline and awards up to $30,000 per year for two years of study.
10. Civil Society Leadership Awards (USA)
The Civil Society Leadership Awards (CSLA) are open to emerging leaders from civil society organizations working in the following areas: human rights, social justice, peace and reconciliation, the environment, and women’s empowerment. The CSLA program provides fellows with up to $90,000 for graduate study in the United States.
Things to consider before applying for scholarships:
There are a few things that foreign students have to keep in mind when applying for scholarships.
1. Do your research: Make sure you do your research on the different scholarships that are available to you. There are many different scholarships with different eligibility requirements, so make sure you find one that is a good fit for you.
2. Get organized: Make a list of all the scholarships for which you are eligible and start applying. Applying for scholarships can be a lot of work, so make sure you get organized before you start.
3. Show your commitment: You should always show your commitment to the scholarship or award by writing a personal statement on why you deserve the scholarship and what it will mean for you to receive it.
4. Be prepared to accept rejection: There are many reasons why some applications might not be successful, so don’t be discouraged if you don’t get the scholarship that you applied for. There are many other scholarships available, so keep looking for other sources that offer scholarships.
5. Follow the instructions: Make sure you read and follow the instructions carefully when applying for scholarships. If you don’t follow the instructions, your application might not be considered.
6. Apply for multiple scholarships: Don’t just apply for one scholarship. Apply for as many scholarships as you can, because you might not get selected for the first one that you apply for. You can also get selected for more than one scholarship, so it’s always worth applying.
7. Focus on your academic excellence: Make sure you focus on your academics because scholarships are not the only thing that matter in your life. Make good grades, get involved in extracurricular activities, and volunteer.
8. Show your passion: Show the scholarship committee how much you care about whatever scholarship or award that you are applying for. If you have a strong passion for whatever award or scholarship, then the committee members will be more likely to select you.
Studying abroad is the dream of millions of students for higher education. And what better way than getting a scholarship to support their financial needs. But getting a scholarship is not easy, but it’s definitely worth the effort. Make sure you do your research, get organized, and follow the instructions carefully. And don’t forget to have fun while you’re applying for scholarships! There are many different scholarships available, so you’re bound to find one that’s perfect for you. Best of luck!
International students often struggle to pay for their education. From high tuition fees to living expenses, international students have to pay a lot of money. And not everyone qualifies for financial aid or scholarships. So, if you are an international student, having an international credit card is a must.
International student credit cards allow students to pay for books and supplies, food, housing, and other expenses. With these types of cards, there is no need to carry cash or take out money from a bank machine. And the best part is that many of these cards have relatively low interest rates. Normally, international students pay an annual percentage rate (APR) of 17%-19.9%.
An international student’s credit card offers a lot of perks to international students. In this article, we are going to talk about their advantages and disadvantages. This article will be really helpful for international students.
What is an International Student Credit Card?
International student credit cards are a type of card that is only available to students outside of their home country. They provide support to students as they look for opportunities to build their financial history. It allows students to pay for expenses such as books and food.
When you have, use and repay money on a credit card, lenders are more likely to see that you are capable of repaying your debt. International student credit cards are beneficial for students in this way because they help to build their credit score. They provide an important tool to build a successful financial profile in the country they are studying in.
What are the benefits of having an international student credit card?
As an international student, there are many benefits of having one. Here are some of the benefits:
1. Easy to apply
Many students can easily get approved for international student credit cards because it’s often quite easy to apply for them. You can apply for international student credit cards online and receive a response within minutes. If you want to be able to use your cards as soon as possible, you should definitely apply for an international credit card.
2. Rewards Program
With international student credit cards, it’s really easy to earn rewards for daily spending. All you have to do is sign up for a rewards card and then use your credit card to pay for all of your expenses. Many international student credit cards offer different types of rewards such as cashback, airline miles, and retail discounts.
3. Builds Credit Score/History
Having a student credit card allows students to build their financial profile in the country they live in. This makes it easier for them to buy a house or car once they graduate. Building credit history starts with a credit card. It is a great way to start building a good financial profile.
4. Fraud protection
International student credit cards provide fraud protection which means that you won’t be held responsible for fraudulent charges that appear on your statement as long as you report it within a certain time period. For example, if your credit card is stolen and someone uses your account to make a purchase, you won’t be held responsible as long as you report that fraudulent charge within 30 days.
What are the Disadvantages of having International Student Credit Cards?
Everything good comes with a price! Although there are many benefits to it, there are also some disadvantages. Here are some of the disadvantages:
International student credit cards tend to have high fees. It is because credit card companies do not believe that students will pay their balances in full every month. They can charge higher interest rates sometimes which end up increasing the cost of borrowing money. Some international students’ credit cards have a yearly fee that is required to be paid once you open the account.
2. Foreign Transaction Fees
International student credit cards charge a foreign transaction fee every time a purchase is made outside of the registered country or if an international ATM request is used (for example if you used the card when visiting your home country during your vacation). When you use your card outside of the country, this will translate into a 3% to 5% charge. This usually occurs because international credit card companies have the power to access the wholesale rate for currency conversion.
3. Credit Limit
International student credit cards often have a low credit limit. This means that you will not be able to use your credit card for large purchases.
Secured Credit Cards Vs Unsecured Credit Card
A secured credit card is a type of loan that requires the borrower to place collateral against the funds. Most international student credit cards are unsecured because they don’t require collateral. Some banks might require collateral if your international credit score isn’t ideal.
Eligibility Criteria for International Student Credit Cards
1. Student Status: To qualify for it, you must be a full-time international student.
2. 18 Years of Age: Most companies give credit cards to students who are at least 18 years old.
3. Annual Income: You will not be able to get approval for it if your annual income is below the limit set by the issuer.
4. Valid Address: You must have a permanent address where you can receive your credit card statement each month.
5. Social Security Number (Not every credit card issuer requires it): A SSN is required to apply for many cards. Without one, you will may be able to get approved.
6. Valid Phone Number: Most credit card companies require an international phone number as well as a home address to confirm the identity of the person applying for a student credit card.
How to apply for International Student Credit Cards?
There are many different credit cards that you can apply for. However, it is important to do your research first before applying for one. Here are some tips that will help you apply for suitable international student credit cards:
1. Open up a bank account:
Before applying, first, open up a bank account with the bank that you choose. Take some time to look at all of the different credit cards and compare their rates and fees. This is very important because it will give you a better idea of which one to choose.
2. Check your eligibility:
You should always check your eligibility. It isn’t always clear before you apply, but if you can see from the criteria that you will not qualify, it will do your credit history more damage to apply and be rejected..
3. Research various credit card companies
Look for customer reviews online and read everything about the credit card issuers who are offering you the card. Make sure that the company is reputable and has been in business for a long time.
4. Look at fees and rewards
Make sure to look at all the fees associated with the card. Compare different cards and see which one offers you the lowest interest rate. Also, consider looking for a card that offers rewards.
5. Get a cosigner
If you are unable to find a suitable card on your own, consider asking for a cosigner. Sometimes, banks will give you a higher chance of being approved if you have someone vouching for you. Just make sure that the person who is willing to cosign for you is a stable source of income and has a good credit history.
6. Apply online
Applying online is the easiest way to apply for a card because it usually requires less paperwork and also takes less time. All you have to do is fill out an application, wait for approval, and access your account.
Top International Student Credit Cards
1. Capital One Platinum Credit Card: This company offers a low-interest rate of 9%. It also charges no annual fee. It has an APR of 26.99% (variable). You can quickly and easily apply for this credit card online.
2. Discover it for Students: This card is perfect for students who often travel outside of the United States. It charges no annual fee and has a low-interest rate. The maximum APR that you can be charged is 12.99%-21.99%. You can quickly and easily apply for this credit card online.
3. Chase Student Visa Credit Card: With no annual fees, you can easily apply online for this card. You will be given a credit limit that is equal to half of your annual income or less. The APR is very low at 14.99% (variable).
4. Deserve EDU: There is no annual fee as well as foreign transaction fee. The APR is 18.74% (variable). It doesn’t require any SSN to apply. You can also apply online for this card.
5. Capital One SavorOne Student Cash Rewards Credit Card: It’s easy to apply for a cashback credit card. It has a $0 annual fee and a variable APR of 26.99% (Variable). There is no foreign transaction fee and it is accepted worldwide.
1. Make sure to do your research before applying for an international student credit card so you can compare different offers and find the best one for your needs.
2. Always check your eligibility before applying for a credit card because some credit cards will not approve certain applicants based on their circumstances.
3. Keep good credit so you can increase your chances of being approved for an international student credit card in the future.
4. When filling out an application, answer all questions truthfully and pay close attention to detail because if there are any errors, your application might be rejected which will take more time to reapply for the credit card.
5. Monitor your credit card activity so you can avoid being charged with over-limit fees or late payment fees.
6. Always read the fine print of any credit card offer before signing up for any credit card because it will help you know exactly what to expect once the account is opened.
Applying for an international student credit card is easy as long as you know what to do. By following these top tips, you can easily apply for a great card that will suit your needs and help you build good credit history.
As time goes by, the average student loan debt continues to rise. While students should only have to focus on their education and future, student loans are becoming a major concern for both students and their parents.
From tuition fees to books, many students are spending thousands of dollars before even they become graduates. It doesn’t end here, student loans have a significant impact on the average 21-year-old college graduate’s income. In fact, it also affects their average yearly earnings for the rest of their lives.
It’s almost impossible for an average student to get admission to good colleges in the USA or Canada without scholarships, federal student aid, or financial support of some kind. Therefore, average students can’t afford to spend thousands of dollars on tuition fees and other course materials each year. Thus, private student loans are the only solution to their problem for many.
The only problem with that is most students don’t know how much exactly they will earn after their bachelor’s degree. If students had enough knowledge about the average student loan debt, average tuition fees, and average salary after graduation, they would be able to solve this problem more easily. That’s why we are here to help.
We have gathered a bunch of information that you as a student must know. So keep on reading and get familiar with the average student loan debt!
Average student loan debt: $27,975
For average students in the USA and Canada, the average student loan debt at the time of graduation is $27,975. This average student loan debt varies from school to school and course of study.
For example, the average graduate with a law degree owes more than the average student with an engineering degree. That’s just how it goes, students in the USA and Canada owe over $27,000 at the time of graduation.
Average student loan debt per year: $9,410
It’s a well-known fact that average tuition fees for colleges and universities are more than ever before. The average student loan debt per year is $9,410. It’s not just average students in the USA and Canada who are facing this problem. Students in the UK also seem to be under a lot of pressure with average student loan debt per year that reaches up to £10,000!
Average monthly student loan payments: $775
Students who live on their own and those who live with family members have to pay $775 as monthly payments. This number seems to be normal, but what’s not normal is the average amount of interest students have to pay back after their graduation.
The average interest rate on student loans: 6.5%
The national average interest rate on student loans is 6.5%-8.50%. This percentage will depend on the public market rates and the rate the school sets.
However, even if this percentage is a lot lower than credit card interest rates and bank loan rates, it can still affect your average income after graduation. Since it takes a few years to pay off student loans, most students rely on their parents for support and financial aid.
Average college tuition fee: $30,000-$45,000
In the last 10 years, average college tuition fees have increased by 2 times. In fact, the average college tuition fee is now $30,000-$45,000 per year.
In some universities and colleges in Canada and the USA, you might even need to spend up to $50,000 a year if your study program is more demanding.
Let’s take a look at some of the most popular colleges in Canada and the USA with their average tuition fees. Most of these average college tuition fees don’t include the cost of living and other expenses that students need to pay. So these fees are only for your college education.
$52,000 – Columbia University (New York)
$51,000 – Sarah Lawrence College (NY)
$50,000 – George Washington University (Washington DC)
$49,560- New York University
$47,950 – Eugene Lang College of Liberal Arts (New York)
$44,000 – William Paterson University of New Jersey
$43,000 – Northwestern University (Illinois)
$40,520 – Georgia State University
$39,970 – Northeastern University
Other costs that students usually forget about:
Books and course materials. For example, if you’re planning to study medicine, we’re talking about hundreds of dollars per semester for books and course materials. Transportation fees and living costs. You will also need to pay for your transportation since you can’t always rely on public transportation or your parents drive you to school and college. Let’s see how much do they cost on average:
1. Living costs:
Living cost varies from one city to another. It depends on the average rent price in your city, plus other expenses that you have every month. Let’s just say it costs around $800-$1000 per month for living costs if you live alone or with a friend.
2. Transportation cost:
If you’re studying at a university or college that isn’t close to your home, you will need to pay for transportation on daily basis. An average student who drives to school might spend up to $50 per week on gas and other costs. If they are taking the bus, it’s safe to say that this amount can be higher depending on how far they need to travel.
3. Food cost:
It’s normal to go out with your friends and family for dinner, drinks or fast food. This can be very expensive if you do this every day! Let’s say it costs you $50 per week just to eat outside and socialize.
4. Books and course materials:
Most schools and colleges expect their students to have their own books and course material. The average cost of a book is approximately $200-$250 if the textbook is new. If you’re studying engineering or medicine, you’ll need other study materials such as laboratory kits, CDs, and software.
5. Other expenses:
You might need to visit the dentist or doctor for a checkup. If you need glasses, contact lenses, or other medical aids, don’t forget to add this expense too! Other expenses like going out or entertainment are also included.
Federal student loan debt vs private student loan debt
If you need to take Federal student loans or a private student loan, here’s what you should know. Federal loans have better conditions and lower interest rates than private loans. For example, the federal government sets their student loans interest rate depending on the type of study program and the year you’re in at school. On the other hand, private lenders set their own interest rates. They are usually higher than federal rates, so it’s better to avoid them.
The average federal student loan in the USA is $36,000. In Canada, this amount can be higher or lower depending on your province of residence and what study program you’re taking at a college or university. In order to reduce the loan payments, you can take a look at their plans such as the Federal Family Education Loans.
When it comes to private student loans or direct loans, the average is $14,400 for graduates with bachelor’s degrees. On the other hand, students who drop out of college or university have more than $20,000 in private student loan debt on average.
You can find information about private international student loans here:
What country is #1 in student loans?
The USA is the country with the highest student loan debt in the world, so it’s no surprise that they also have one of the highest average college tuition fees. On average you need to pay $35,000 if you study at a US university or college after high school.
In 2017, student loan debt has reached a new record in the USA. It currently amounts to $1.33 trillion which means every American owes an average of $37,172. It’s even higher than the car and credit card loans.
It’s not the tuition that’s causing the problem, but the cost of living which is very expensive in most cities. Cities like New York and Los Angeles have a very high cost of living. And the same this is happening in Canada. With high tuition fees and living costs, it won’t be surprised if we reach $100,000 in the next few years.
What would happen if you fail to pay your student loans?
If you fail to pay back your student loan, this can lead to serious problems
1. Increased interest rates:
If you default on your student loans, the federal government can increase the interest rate for their federal loans. This means that instead of paying 6% (the current interest rate), it will be 18-23%, which is very high! The interest rates could increase more if you take direct loans or personal loans from private student lenders. And if you can’t manage to find a suitable job you will find yourself in more debt.
2. You can’t pass the background check:
If you want to work for the government or join the military, you will need to pass a thorough background check. One of these is passing a credit score check. If your credit score is low, it means that you’re not reliable with money and this isn’t something you want to show on your background check.
3. Bad credit:
If you fail to pay your student loans, the federal government will send your account to a debt collection agency. If they can’t contact you or get you to pay back, this will affect your credit score and ruin it. This means that if you want to buy a house in the future, take out a loan for any other reason, or simply need a credit card, you won’t be approved because your credit score isn’t good.
If the debt collection agency fails to get in contact with you or can’t help you pay back, they will sue you for the money that you owe. If the court decides that you need to pay it back, they will take your bank account, tax refunds, and wages. This means that if you have any savings or are planning to get a big salary raise in the near future, it will be taken away from you by the courts!
Student loan debt reaches $2 trillion in 2021
We are in the last quarter of 2021. According to the student loan statistics and the federal reserve bank, the total student loan debt has reached a staggering $2 trillion. That means the average debt is $25,000 per person.
The cost of living has risen dramatically since 2007 and it’s expected to rise even further. The total number of students attending public universities has also risen to an all-time high and the cost of living is higher than ever before.
The cost of health care, food, and shelter has risen dramatically over the past few years which means that people spend much more on these items. This leaves less money for anything else like student loans.
In total, student loan debts have crossed the auto loans and private loans in the USA. And the number of people with student loans is expected to rise by about 1 million every year. The average net income of students has also fallen, which means that they have less money to spend on other things like loans and credit cards.
So what does this all mean?
The outstanding student loans will only continue to rise and it’s likely that we might reach $3 trillion in the next few years. The cost of living will continue to rise, which means that even if you don’t have student loans, life would be pretty expensive.
The average wage is already not enough to pay back your loan and it’s likely that we might reach $30,000 in the next few years. This means that if you want to continue your education and borrow an additional $30,000 for college expenses, you will have to pay back about $60,000 in the next 10 years.
International student financial aid is a necessity for almost all international students wishing to study abroad and often times it can’t be obtained without applying for an international student loan.
Many international students, however, need a loan in addition to any awards or scholarships received. So what are these loans and how do you get them?
In this article we will explore both topics in order to provide some basic understanding of the complicated world of financial aid for international education, international student loans and how they work.
Read on if you would like some clarity into this confusing topic!
Why international financial aid is necessary
Financial aid for international students is necessary for almost all international students because the cost of studying abroad is more than the average student can afford – even with financial support from their family.
The average cost of studying abroad for a year can range anywhere from $30,000 to more than $70,000
Some of the most expensive in demand countries include the United States and the United Kingdom.
In both cases the tuition fees are more expensive for international students, and you need to add in other necessary costs such as accommodation and food.
The cost is around three times higher than what a student would have to pay at home for the same program.
How to get financial aid for international students
It is not easy to get financial aid as an international student and it requires you to work hard in order to obtain it. The first place to look for financial aid is with the school or university you will be attending.
In most cases students going to a school in the U.S. must first complete a FAFSA (Free Application for Federal Student Aid) and apply for any government funding available – this is often the case even though international students are not usually eligible for federal aid.
Most universities have their own financial aid options and scholarship programs that international students can apply to. Some are merit-based while others are need-based. It is important to complete your application as soon as possible as most programs and scholarships only have a limited number of positions available.
Often times these scholarships have specific requirements, such as a minimum GPA and/or language proficiency but there are also general scholarships available. Once you have completed your application, it will be reviewed by the selection committee and if selected, you will be awarded a scholarship.
Lastly, remember that an international student loan is only a last resort after all other funding has been exhausted – it should never be used instead of applying for scholarships and/or government funding.
There are a small number of lenders who specialize in loans for international students, but they are not available in every country or at every school or university – a lender must have a suitable program for your chosen institution and you must meet their other lending criteria.
Another factor in the availability of loans for international students is that some lenders require you to have a cosigner (also known as a guarantor or co-borrower) who is legally responsible for repaying your loan if you fail to do so. That cosigner must be a U.S. permanent resident.
Paying back your international student loan
Repayment of an international student loan will depend on the terms set out when you took the loan. Different lenders will have different repayment terms and interest rates.
Some lenders will allow you to defer repayments until after graduation while others will want you to start repaying your loan immediately.
Whatever repayment plan you have, your lender will be able to give you the exact details about how much you will have to repay and when – and you should be able to see the total cost of borrowing (including all interest and fees).
International student financial aid is a complex topic and it’s important for prospective students to research their options before making any decisions. There are many ways you can get financial assistance, but the first place to look should always be with your school or university. Your institution may offer scholarships that don’t require an essay; these are often need-based programs so if you’re struggling academically, this might not be a good option.
The next step would be to search the database of international scholarships at www.iefa.org/scholarships where there is no shortage of opportunities available (although some do have specific requirements).
Lastly, remember that borrowing money shouldn’t ever substitute applying for other sources of funding such as government grants or private scholarships – international loans should be used as a last resort. It is also important to look at the terms and conditions of your loan and understand where you currently stand financially before taking on any financial responsibility – if you have to take out an international student loan, make sure that it’s done with care.
Studying abroad is a great way to broaden your world view, build on your education and learn about different cultures. It’s also a great chance to make friends from other countries who can help you with your language skills. If this sounds like something you would be interested in, read on!
This article will answer questions about studying abroad such as: what are the steps and how it works? Who should do it? How much does it cost? What are some of the benefits of studying abroad? And more!
What do you need to study abroad?
Studying abroad is a great opportunity, but it’s also a challenging experience. You can’t just decide to study abroad and go. You need to know what you’re getting into first, including how studying abroad works and if it’s the right choice for you before making your decision.
If you’re thinking about studying abroad, start by asking yourself these questions:What do I want to get out of the experience? How will it help me in my career? Do I know where I want to live and/or study abroad? What am I willing to sacrifice for my education?
After that, make a plan. You’re going to need to decide on a host country and choose from available study abroad programs. Depending on your host country destination and the country where you are a citizen you may need a student visa. Make sure you apply for any student visas well in advance! Look at the costs of your departure, including airfare to get there. Think about some of the cultural differences and how that might affect you.
If this sounds like a lot of work, it can be – but it’s worth it in the end.
What about funding?
If you want to study elsewhere in Europe or another part of the world, you will probably have to apply for some programs and grants.
Some of these grants are selective, so you can’t just apply for them if you want to! To find out more about studying abroad, we recommend that you visit your school’s international office or website. They have tons of information and many of them can help you with applying too.
There are also some scholarships available only for minorities or students from another country that are very competitive to get. Some of these scholarships will provide you with money to pay for your studies and living expenses, so this might be the right choice for you if you want to study abroad but don’t think that you can afford it.
How does studying abroad help you?
Some people are reluctant to study abroad because they’ll be far from home or they worry about culture shock from being immersed in a new language and place. That is completely understandable, but studying a program at an international university can be a very rewarding experience. You’ll definitely get out of your comfort zone and learn more about yourself and different cultures in the process!
And the long-term benefits in future career opportunities can’t be understated when you enter the job market after returning from your host university. Hiring companies look at the way they can benefit from candidates’ experiences abroad where they have learned cultural awareness and communication skills better than they could domestically.
Studying or living in abroad will change you as a person. This is, of course, completely different than studying or living in your home town or even a different city in your country. Studying overseas will give you the opportunity to forge friendships with people from around the world – not just your new home.
You’ll get to know how things work differently there and are able to learn a little bit more about yourself while experiencing something completely new and foreign.
How long do you usually study abroad?
Most of the time that you study abroad it’s through a university program at your home university, which will usually take at least one semester. Some programs will be shorter depending on what you’re studying and where you are going to study, and some will be longer – such as a full academic year.
Some students chose to take their entire degree program at an international school – this is known as being “foreign enrolled”.
So it basically depends on the program and university you want to study at. There will be a lot of different programs to choose from, so you’ll have to make your pick!
Is Studying Abroad expensive?
Depending on where you study and how long for, studying abroad can be expensive. Many students get grants or scholarships to study abroad and have a job while they are studying. This is important to watch out for because sometimes the costs of living in another country will be more than you expected.
A major reason for the difference in costs in your home country versus going abroad will be the tuition costs, which could range from being completely free to being much more expensive then if you were a domestic student.
Travel and accommodation also add up. If you intend to fly home every vacation then this will not only severely diminish your overall experience, but will also cost a lot. Similarly the choices you make regarding where you live will have a big impact. Private accommodation is often the most expensive, while university dorms can be cheaper and really comfortable. To get really immersed in the culture, host families are a great option, and are often reasonably priced.
Depending on the place you go and your financial situation, planning ahead will help you get the most out of studying abroad.
What is the cheapest study abroad program?
If you want to study abroad, do your research and plan ahead. Make sure that the place you pick really is the best choice for you and your family (if they are joining you). If you want to study abroad in Europe, look at what your university offers and see if they have any programs that match your career and life goals.
Here are some of the cheapest countries that offer affordable study abroad programs:
How do I find a study abroad program?
If you’re a high school student and planning to study in college, there are many different programs that your university offers. Some of them will even provide you with financial aid just for studying abroad.
We recommend you to go to the college’s website or talk to the international office if you’re not sure what options are available. Many of them will have scholarships and financial opportunities for students who want to study abroad.
Also, you can look for scholarships to study abroad that are offered by other organizations and will help pay for your studies in another country and living expenses.
The main thing is to decide on the course and university you want to attend and then plan how to get there.
Which country is best for study abroad?
Fancy going to Costa Rica? The Dominican Republic? Maybe the Czech Republic or New Zealand? There are just so many options and no way for us to tell you which one is right for you. You can get a lot of information on the internet about different places you might want to study in, not just from the universities, but other resources too. This is good because you’ll be able to understand what the living expenses are like and how much it would cost you to go there for a semester or a year.
Different countries have different opportunities available for studying abroad. Some countries require you to learn the language of the country or have some background in their culture and traditions.
Some of the countries that offer the best living conditions and where you can feel comfortable living in are:
The United States of America is also a country that has very good living facilities and great universities to study in.
Is studying abroad really worth it?
For many students, it is very hard to decide whether studying abroad is worth it or not. It can be very rewarding, but also one of the most expensive parts of their education. So, should you study abroad?
Studies have shown that students who study abroad are more likely to graduate in four years and get jobs after they’ve graduated than those who have not. Plus, students with study abroad on their resume are in more demand for jobs today.
It is also important to know that the university where you study will help you find a job after graduation. They might offer you money or internship opportunities just for going there and studying with them! That’s why many people think that studies abroad should be a part of the public university system because it is a great skill that employers want and need.
So it is definitely worth it!
The best part of studying abroad:
The best part of being an international student is that you can live in a different place and explore the culture of another place. You get to meet new people and make new friends from around the world. People also say that the experience they have outside their home helps them grow up faster and become more mature.