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, it may not seem possible to attend school in a new country without the proper financial aid. While there are grants and scholarships available for such purposes, they are highly competitive and typically cover only a small fraction of the overall cost. Fortunately, there are international student loans that are not only available to students in either situation, but can also be used to cover the entire cost of the study program.

As a United States citizen looking to study abroad, you should start with the standard paperwork required to apply for federal funding, such as the FAFSA, so that you may receive whatever financial aid is available through the government. However, if you cannot obtain federal funding, or still need additional funding to cover the rest of your tuition, your next best opportunity is to seek out loans through private companies. Many lenders have select programs for study abroad and will partner with some schools in other countries to provide tuition costs for U.S. citizens. You can start looking for the best options by checking the list of approved schools by each private lender. If you are a medical student seeking to study abroad, you may have an even greater number of options.

It is important to note that in many foreign countries, there is no cost for a college education because it is funded through tax dollars. It is recommended that you take advantage of any such opportunities if you are accepted into a foreign school with free tuition. However, you may still need to take out a loan to cover the cost of living in the foreign country for the duration of your education.

For non-U.S. citizens, there are fewer student loan options. If you are a foreign resident seeking an education in the United States, you will not be eligible for student loans by yourself, nor will you be eligible for federal aid. For any loans you wish to borrow, you will need a co-signer who is not only a permanent resident of the United States, but one with good credit as well. While you will want to use a family member as your preferred co-signer if possible, you may also choose a trusted friend or associate who can help you out. The best places to find student loans for international students are through private organizations that cater to the needs of students hoping to pursue higher education in the United States.

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.