Success The Turning Point

Author(s): Rajendra Rakhecha
Publisher: Rajendra Rakhecha

Page 59

You can compare lenders and apply right online. Instant approval of your loan can be as quick as a few weeks. Click here to start your loan application. Who is eligible to apply for international student loans? Students who are not U.S. citizens or non-citizen permanent residents and who are attending an eligible U.S. college or university. Borrowers are required to have a creditworthy cosigner who is a U.S. citizen or a non-citizen permanent resident. Students who are not U.S. citizens or non-citizen permanent residents and who are attending schools outside the U.S. are not currently eligible for our loans. What loans are available? We have designed the first ever international student loan comparison tool that will match you with lenders based on your needs. Simply complete a quick application and we will match you with all of the available lenders. To see which loans work for you, check out our international student loan comparison tool. With these loan options, students can borrow up to the full cost of their education, minus other aid received. Our loans help students save money, build good credit, and pay off their student loan faster. What can international student loans be used for? International student loans, like all private education loans, can be used for education-related expenses including such things as tuition, books, fees, insurance, transportation, room and board and other school-related expenses. What is the maximum loan amount that I can apply for? You can apply for up to the total cost of education, minus other aid, as determined by your school. To determine your maximum loan amount, or what can be included in your loan, you will need to contact your school's financial aid office. After you apply and receive credit approval for you and your co-signer, your school must certify the amount of the loan. I'm a non-US citizen nor a US-permanent resident studying in a destination outside the US, am I eligible for a loan? Unfortunately, our loan programs are for international students from anywhere in the world studying in the United States, or for US students studying abroad. We do not currently have a program for international students studying elsewhere in the world, even with a US co-signer. What if no lenders appear on my comparison tool? Unfortunately if there are no lenders that appear after you do the comparison tool, then we do not have a loan program for the school. Our best advice is to contact your school, as they should know if there are any loan programs available to their international students. When I take out a student loan, how much do I pay back and when? The interest rate and repayment will depend on the loan option and lender you select. After you select the loan that works best for you, you will need to review the terms or contact the lender directly with your questions. The interest rate is calculated based on an index plus a margin that will add an additional percentage interest rate depending on your cosigner's creditworthiness. Based on their creditworthiness, an additional interest rate will be added to the index which will be the total interest rate you owe and at that point you can determine whether you'd like to proceed. Every lender's range varies so it is important to do the loan comparison and review the interest rate and repayment terms. What if I do not have a co-signer? What if my co-signer is a non-US citizen? Or, how can I find a cosigner?