The world of international student loans can be confusing, especially if you’ve never obtained a loan and English is not your first language. Because of this, we’ve created a list of the top international student loan terms that you need to know and understand before you start the hunt for a loan.
Cosigner: A cosigner is someone who is joining the loan application with you. If you’re unable to repay your loan (yes, you must pay back what you’ve borrowed) the co-signer then takes over your repayment responsibility. To be a cosigner on your international student loan, they must be a US citizen or resident who has lived inside the US for the past two years and has good credit history. The better your cosigner’s credit history, the lower your APR will be.
Repayment Period: This refers to when you must start the re-paying of your loan and how often- something that will vary from one lender to the next. Check these terms, and know exactly when you will need to start paying back what you borrowed.
Interest Rate: An interest rate is the percentage of the amount borrowed that the lender can charge interest on to the borrower. The higher the interest rate, the more you must pay back in addition to what you borrowed. The interest rate will change depend on the market and can come in one of two categories: fixed and variable. A fixed interest rate is a rate that will remain the same from the time you agree to take out the loan to the last payment you make. A variable interest rate will fluctuate over time depending on the market, and can be more risky, depending on the market.
Annual Percentage Rate (APR): While looking at terms based around repayment, let’s discuss exactly what an APR is, and how it can affect what you must pay back to the lender. When comparing loans, you will want to compare the APR and look for the lowest rate possible- the lower the APR, the less you pay. One key item to keep in mind: the APR and interest rate are not the same. The APR will help give you a more accurate look at the total cost of the loan including the interest and fees. Don’t let a low interest rate trick you into thinking you’re getting a deal- also check the APR.
Credit score: A credit score is based upon credit history and given in a credit report which reflects a score between 300 and 850. Your cosigner’s credit score will be evaluated when you apply for a loan- the higher the credit score, the better your chance will be of getting approved and being able to receive a low APR.
If you would like to receive an international student loan, start comparing lenders that work with your school.
The Tanaka and Green Scholarship Program is open to students from the United States who will be studying inside Japan as a full time student. Students can be enrolled as a graduate or undergraduate student but must plan on returning to the United States after one semester or year in Japan.
There is not a specific degree program that you must pursue- however, all applicants must be a United States citizen or resident.
The deadline to apply for this scholarship is July 15th, up to six scholarships will be awarded in the amount of $5,000. This scholarship can be used for academic fees, room and board, travel and transportation and other approved expenses. To enter, students must ensure they meet the eligibility criteria and email all application items by the deadline.
This scholarship is through the Japan-America Society of Washington DC and are supported by the society’s H. William and Lily Tanaka Scholarship endowment and Marshal and Lispenard Green Educational Endowment. The Japan-American Society was established in 1957 by US State Department officers and individuals at the Japanese Embassy. Their goal was to “add a personal face to Washington’s official relationship with Japan and create a people-to-people organization.”
Get more information on the Tanaka and Green Scholarship Program to find out if you’re eligible to apply.
Pathologists searching for a fellowship to assist the funding of their research after their first 10 years of initial training will want to apply for the Gordon Signy Fellowship. This fellowship was established in 1975 by the World Pathology Foundation in honor of Gordon Signy, it provides pathologists with limited resources the funds needed to visit laboratories around the world.
Each year World Pathology Foundation trustees decide how many fellowships will be offered, for 2016 two fellowships will be granted. The Gordon Signy Fellowship awards $5,000 in two installments during the fellowship period. Individuals from around the world are able to apply for this fellowship but must commence training in a country outside of their home country and return home following the completion of their fellowship.
Find out more information on this fellowship before the June 30th deadline. The winner of this fellowship will be announced prior to September 15, 2015.
- Are currently studying at a higher education institute
- Must cover expenses related to their academic career
- Can convince the StudyPortals scholarship judges they deserve this scholarship
- Are 18 years of age or older
- Agree to the official rules of this scholarship contest
If you’re not sure that you meet the eligibility for this scholarship the following StudyPortal definitions might help:
Student: “A student is a person that is currently registered for and studying a full program of at least 1 academic year at a higher education institute that is recognized by the competent authorities in the respective area.”
Higher Education Institute: “A higher education institute can be a university, university of applied sciences, college, or business school with the following properties: It admits as regular students only persons with a high school diploma or equivalent; or admits as regular students persons who are beyond the age of compulsory school attendance. It can be a public, private, or non-profit organization. It is accredited or pre-accredited and is authorized by the competent authorities in the respective country, state or other area of operation.”
Check out the full terms and conditions of the StudyPortals Scholarship and how to apply.
If you’re a US citizen studying abroad through an accredited US law school check out The Reeves Law Group Scholarship. The Reeves Law Group is awarding $2,500 to one winner who applies by the December 15, 2015 deadline. To apply for this scholarship you must submit a brief narrative that includes who you are and what you’re interested in. You must also submit a 750-1000 word essay (or PowerPoint presentation) on the following topic:
“My dream contribution to society as a lawyer.”
Along with an essay the following must also be submitted:
- Unofficial transcript (Applicant must submit by mail an un-opened copy of official transcripts if elected as a finalist)
- Letter from admissions confirming deposit on school letterhead
- Official enrollment verification form
- Acceptance letter on school letterhead
The winner be based upon “who best conveys a strong desire and goal of using the legal system to fix or improve a problem in society.”
Last year’s winner, Heather Marzenski, received this award because, “Heather’s application was sincere, heartfelt and very deserving,” said firm founder Robert Reeves. “Not only does she run multiple fundraisers throughout the year to make up for the budget shortfalls that directly impact students in her classroom, but she collects used clothing and shoes outside of school to assist these same families. She also does all of this while working multiple jobs, finishing her Master’s degree, and caring for her own family, which includes a two-month newborn.”
This year’s winner will be notified by phone, email or mail prior to January 15, 2016 and must show proof of enrollment before disbursement of the award.
If interested, find out if you’re eligible and how to apply for the Reeves Law Group Scholarship.
Invensis Technologies Pvt. Ltd. is hosting the Invensis Young Thinker Scholarship Essay Award. Eligible students are able to apply until July 31st at 11:59pm, one winner of this scholarship will receive $500. To be eligible to apply for this award students must meet the following criteria:
-Be studying in the United States, United Kingdom or Australia
-Be pursuing an undergraduate degree in: technology, science, web design & development, economics, finance, marketing and business/management.
-Be between the ages of 18 and 26
-Have a minimum GPA of 3.0 (on a 4.0 scale)
If you meet the above criteria to apply for this scholarship you must write and submit an essay of at least 600 words on the following topic:
“In your opinion, which was the most disruptive mobile technology of 2014 and how is it a game changer? How will it evolve to impact the future?”
If interested in this international scholarship make sure you get more information on the Invensis Young Thinker Scholarship Essay Award and how to apply before the deadline.
Are you trying to learn a second language? What about learn a second language in a foreign country? If that sounds like an exciting experience the Teenagers Abroad Summer Scholarship might be the help you need. This scholarship allows one individual to win funding for a four week long international language program (standard, 20 lessons per week). The scholarship value is between $3,000 and $5,000 but will not cover airfare.
Individuals from around the world can apply for this scholarship before May 1st- one lucky winner is able to participate in a language program from August 2nd, 2015 to August 29th, 2015.
The winning student can choose from a variety of locations including Malta, Brighton, Eastbourne, London, Toronto, Montreal, Nice, Paris, Barcelona, Malaga, Playa Del Carmen, Florence, Rome, Frankfurt or Beijing. If the student selects Playa del Carmen, Malta or Brighton, accommodation will also be included in the scholarship.
To enter the Teenagers Abroad Summer Scholarship you must be between the ages of 15 and 19 and submit a picture collage or short video that represents your personality. The more creativity, passion and energy shown- the better!
Find out more information on this scholarship and apply before the May 1st deadline.
Applications for next year’s Rotary Peace Fellowship are currently being accepted. Each year Rotary selects 100 individuals from around the world to receive a fully funded academic fellowship to cover tuition and fees, room and board and round-trip transportation at one of the following Rotary Peace Centers:
- Chulalongkorn University, Thailand
- Duke University and University of North Carolina at Chapel Hill, USA
- International Christian University, Japan
- University of Bradford, England
- University of Queensland, Australia
- Uppsala University, Sweden
“Through training, study, and practice, Rotary Peace Fellows become leaders and catalysts for peace and conflict resolution.”
To be eligible for this fellowship you must meet the following requirements:
- Proficiency in English; proficiency in a second language is strongly recommended
- Strong commitment to international understanding and peace as demonstrated through professional and academic achievements and personal or community service
- Excellent leadership skills
- Master’s degree applicants: minimum three years of related full-time work or volunteer experience, bachelor’s degree
- Certificate applicants: minimum five years of related full-time work or volunteer experience, strong academic background
Individuals can be from any country around the world, however, they must plan on studying in the United States, United Kingdom, Thailand, Sweden, Japan or Australia at one of the six institutions listed above.
Get more information on the Rotary Peace Fellowship and apply before May 31st.
Centro Einaudi has launched their third annual Giorgio Rota Best Paper Award. Candidates must submit a high-quality scientific paper on the economics of illegal activities and corruption before April 6th.
Individuals from around the world can apply for this award but must have been born after December 31st, 1977 and be studying one of the following: Sociology, Geography, Criminal & Forensic Science, Public Relations, Political Science, Liberal Arts/Humanities, Economics, Public Administration, Law & Legal Studies, Cultural Studies, Business/Management and Architecture & Design.
Three 1200 Euro awards will be granted in addition to a maximum of 500 Euros for travel expenses to join the Giorgio Rota Conference to present their work.
An award committee will select the three winning papers based upon the following criteria:
- Relevance to the topic
- Literature review
- Quality of the methods and the data
- Originality of the data and the conclusions
This award is in honor of Giorgio Rota, a leading Italian economist in charge of economic research at the Centro Einaudi for many years. The Centro Einaudi is based in Turin and conducts independent research in the fields of political economy, welfare policies, government and marketing competition.
If interested in this award, learn more about the Giorgio Rota Best Paper Award before the April 6th deadline.
If you’re interested in a fellowship that allows you to travel while providing volunteer services then The Human Interaction Project’s Giving Back Program is a great opportunity for you.
Accepted students will have their airfare, housing, UBELONG program fees, medical insurance and some incidentals covered when they take part in this 10-14 day fellowship. Each student will be partnered with the international volunteering organization, UBELONG, to carry out a volunteer trip while immersed in a new culture. Before their journey students will receive training in leadership and philanthropy.
To be eligible students must be 18-25 years old and complete an online application. Applicants must be studying in the United States but can be from any country and pursuing any degree. Two letters of recommendation, a brief essay and a recent photo are also required.
The selection committee for The Human Interaction Project’s Giving Back Program will review all applications, and select the final applicants to participate in a Skype interview. Key attributes that the selection committee will be evaluating applicants on include:
- Concern with your fellow man
- A hunger for self-growth
- Openness to foreign cultures
- Willingness to step outside your comfort zone
- An independent streak
Five individuals will be accepted and upon return expected to share their journey through blogging, videos and speeches.