Student Loans : News, Updates and Blog Posts

Many students from around the world flock to the U.S. to earn a college degree. Likewise many American students choose to study abroad for a semester. Both groups are likely to wonder how they can pay to study overseas. Here are some of the financial aid options that are available.

International Students

Private Loans – A student who is not a U.S. citizen but wishes to get a degree in the states is eligible to receive a private student loan to cover tuition and other costs of attendance, such as housing and books.

To receive the loan, an international student must have a U.S. citizen cosign the loan. International private student loans carry many of the same benefits as those designated to American students, including flexible repayment terms and a .25% interest rate reduction for direct withdrawal of payments. Compare and apply for a private student loan today.

Federal Loans – Unfortunately, international students who attend college in the Untied States are not eligible for any federal direct loans including Stafford loans, PLUS loans and Perkins loans

U.S. Student Studying Abroad

Federal Loans – U.S. students studying abroad or who are enrolled in an approved school overseas can use federal student funding to cover tuition and other costs of education. They may receive federal aid the same way they would if they were studying in the U.S., by filling out the  the Free Application for Federal Student Aid (FAFSA).

Private Loans - U.S. students may also apply for a private student loan to study abroad. Depending on their credit, they are subject to varying interest rates and may require a cosigner. Compare and apply for a private student loan today.

Both groups are of course eligible for scholarships. Scholarships are the best form of financial aid because they do not need to be paid back and do not charge any interest. For more information about international scholarships, visit www.StudentScholarshipSearch.com.