When to apply for an international student loan?
May 1st, 2012 by Jennifer Frankel
It’s May, and that means that many of you have received your acceptance letters from colleges and universities. Once you’ve narrowed down your schools and confirmed your attendance, it’s time to start thinking about your student visa and financial aid.
Many students ask us, when is a good time to apply for a loan?
If you are going to be an international student in the US, you are not eligible for US Federal Stafford loans. Instead, many students choose to apply for private student loans. The best time to apply for a loan is once you’ve received your acceptance letter from the school you plan to attend. If you are currently enrolled at a college or university, you can apply for a loan at any time.
Before you begin your application, as an international student, you will need to make sure that you have a US cosigner. To be eligible, you must have a cosigner in most cases, your cosigner must be a US citizen or US permanent resident who has lived in the US for the past two years with good credit. Most cosigners are family members or close friends as they are stating that they are responsible to pay any debts that you may be unable to afford.
You can apply each academic term for student loans. The time it takes for the approval will ultimately depend on how long it takes both the borrower and cosigner complete their documents and also on how quickly the school certifies the loan. Once your loan has been approved, the funds will be disbursed to the school and your school will then disperse the funds at the beginning of your term.
To get started, click here to compare international student lenders available at your college or university. Once you’ve found your student loan, you can apply right online.
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Please give me application form
Hi Samuel,
Thank you for your interest! You are able to find your school on the eligibility list at the link provided above or by clicking here. From there you can begin the application process.
I want to a student
Hello! I want to first of all salute this organisation for the great work you are doing. please i want you to help me and get a scholarship and the procedure i have to folloy inorder to get the scholarship. I wilL be happy if my request is being granted. Thank you all.
I would like to know when is the student expected to refund the loan he or she took?Thanks for your response.
Thank you for your comment.
The interest rate and repayment will depend on the loan option and lender you select. I have sent you an email with more information regarding international student loans. If you have any questions please feel free to reply to the email and we will assist you right away.
can i get a study loan while studying from my home country uganda at Uganda martyrs University?
Hi Sekiwunga,
Thank you for your post!
Unfortunately, our loan programs are for international students from anywhere in the world studying in the United States, or for US students studying abroad. However, you might still be eligible for an award in our scholarship database. Good luck!
please help am just new on this thing may u help me how to get us co-signer because i also want to get scholarship so that i can study in us
For me i would be happy if granted an opportunity to study in the diaspora where can i get the forms for applications?
Hello! I want to first of all salute this organisation for the great work you are doing. please i want you to help me and get a scholarship and the procedure i have to folloy inorder to get the scholarship. I wilL be happy if my request is being granted. Thank you all
Thank you for your comments.
I have sent you each an email with more information on scholarships and how to obtain an international student loan. You can also compare loans and apply online here.
hello, is it possible for you to get a u.s signer for someone?
Hi Dlama,
Unfortunately we are unable to provide you with a co-signer, usually this is a friend or family member that you already know. Please keep in mind that a co-signer is legally obligated for repayment of the loan, the same as the borrower.