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International Student Loans

Whether you are a student from the United States who wishes to study abroad or a foreign citizen wanting to attend a college or university within the United States, you may find that the idea is cost prohibitive without the proper financial aid. While there are grants and scholarships available for such purposes, they are few and far between and typically cover only a small fraction of the overall cost. However, international student loans are available to students in both situations and can be used to cover the entire cost of the study program.

As a US citizen looking to study abroad, you should still start with the standard paperwork required to apply for federal funding, typically the FAFSA, so that you may receive whatever financial aid is available through this source. However, if you cannot obtain federal funding, or after you have received your small package from this source, your next best opportunity is to seek out loans through private companies. Many lenders have select programs for study abroad and will partner with particular schools in other countries to provide tuition costs for US citizens. Shop around and see what you can find. You should start by checking the list of approved schools that each private lender will keep. If you are a medical student seeking to study abroad, you have a greater number of options as well.

Note that, in many countries, there is no fee for a college education, as it is funded through tax dollars. If you can get into such a program, take advantage, and you may only need to take out a loan to cover the cost of living in the foreign country for the duration of your education.

If you are a non-US citizen seeking an education in the United States, you are not eligible for student loans by yourself. You will require a cosigner for any loan who is a permanent resident of the United States and has good credit. While you will want to use a family member as your preferred cosigner if possible, you may also choose a trusted friend or associate who can help you out.

Paying for school is not easy, but we are here to help. OEDb's student finance section will help you find the money you need to pay your tuition and other college expenses. We cover scholarships, college grants, and student loans. Scholarships and grants are both forms of "free money", meaning they don't need to be paid back. Scholarships are typically awarded by businesses or individuals, with the money being earmarked specifically for tuition. They can be awarded based on a student's location or by religious affiliation, such as Catholicism or Islam. Grants are typically awarded by governments or non-profit organizations and the money often can be applied to several different expenses a student may incur, not solely tuition. They can be awarded based on location or ethnicity, for instance African American or Hispanic. Loans are not considered "free money", because unlike scholarships and grants, they do need to be paid back after graduation. Common federal loans include Perkins and Stafford. Loans are also available by location.