Student Loans for International Students

February 27, 2014

Financing an education to study abroad can be difficult for international students. Paying for college education in UK, USA, Australia and Canada is rather harder for them.If you are unable to obtain any scholarship or grant for your studies abroad, another option may be to take a loan to meet your costs. As the loan funding is dependent on the applicant’s country so international students may not qualify for them outside their home country.

Thousands of

students go abroad to join private universities to take undergraduate and masters degree courses. Although local students can receive loans in their country, but these valuable loans are not available for international students.

In USA, the citizen students can get government loans such as Stafford Loans which are not available for international students. However there are private bank loans and these can be available with the US cosigner.

In European Union, most full-time and part-time undergraduate students from the EU will receive a Tuition Fee Loan to pay for their college courses fee. There are maintenance grants and loans also available to help local students.

For international non-EU students the eligibility to get government loans can be complicated.

In UK, the majority of funding is derived from Government funds which is restricted to home (UK) students. This means international students are not eligible for UK Student Loans.

Bank Loans in USA for International Students

In USA, for international students that do not have the personal capital available to pay for the university degree programs, student loans may be obtained by banks.

Types of Loans for International Students

For international students, there are generally two types of loans you may apply for:

1. Loans from U.S. banks that require a U.S. based cosigner to guarantee the loan,
2. Loans from U.S. and international banks that do not require a U.S. based cosigner.

Loans from U.S. banks that require a U.S. based cosigner to guarantee the loan
Several US banks offer loans to international students who have a family member, relative or friend who is willing to cosign the loan. The cosigner (citizen or permanent resident) guarantees that the loan will be paid after you return to your home country.

The Guarantor must have a good Credit history and have to have a certain level of income.

Loans from U.S. and international banks that do not require a cosigner

Since the number of international students increasing in USA every year, there are companies who are offering student loans to international students without a US based cosigner. However these loans may require some sort of collateral to secure the loan.

There are some companies offering private loans for international and distance learning students that does not require a co-signer from another country. You should be careful here because they might charge much higher interest rates.

Popular Loans for International Students

International Student Loan Program (ISLP) and Study Abroad Loan Progam (SALP) is an alternative loan program for international students to study at approved US colleges and universities.

Global Student Loan Corporation (GSLC) offers student loans for international students. It do not require a US citizen or permanent resident to co-sign the loan.

Canadian Higher Education Loan Program (CanHELP) is an alternative loan program for Canadian college and university students to study in the USA and approved schools throughout the world.

Credila Financial Services offers private education loans to students from India. Credila is a subsidiary of the Housing Development Finance Corporation (HDFC), the largest mortgage lender in India.

In the UK, the UK Council for International Student Affairs provides advice on fees, fees status, funding and student support for international students.

Home Country Study Loans

Easiest way to get student loan for studying abroad is to apply for loan in home country. It is easy to satisfy home country loan requirements on your own sold, however, no cosigner will be required.

Scholarships Alternatives

Whatever your means, there’s no need to fall into the student loans. Students can take their time, focus on their grades and test scores, and apply for several scholarships available for international students.

Cheaper Study Destinations Alternatives

Cost of studying in countries like UK, USA, Australia and Canada can go up to £10,000 to £40,000 per year for courses which may be studied cheaper in other countries.

Students should chose least expansive study destinations such as Germany and France where annual cost can be just £ 4200 per year.

Wishing you success!

Indu Dager

Scholarship

Read more: Student Loans for International Students : Blog Scholarships for International Students 2014
http://scholarship-positions.com 

Don't kill me like Ayinde Barrister-- Chief Kolington Ayinla

 In the recent time, the name of fuji legend,Abdul-Razaq Kolawole Ilori, a.k.a. Kollington Ayinla, beams on the pages of newspaper and social media networks for wide spread rumour that he is very sick and planned to sell his Alagbado Mansion to treat what he himself called spiritual attack. In his recent exclusive interview with The Nation newspaper, Ijo Oyo fuji crooner disclosed that his greatest mistake in life is his choice of many wives that is now a threat to his life. He confirmed that he could sell off his houses because his wives are after his life and wish him dead. “The enemies within are those that I had mistakenly got married to in the early stage of my career. These are the people plotting my death, so they can take over my property. But I won’t allow such a thing to happen after my death. As far as I am concerned, those people who made me go through hell in life will not have access to my property. Therefore, rather than allow this property or any other one to be inherited by these people, I will sell it off. So, that was what I told the reporter. I never said I sold my house; yet, he reported that I did because of health condition. I am a not a sickler”! He added that this common mistake is peculiar to all musicians and he blamed himself for marrying many wives.”It is rare to find a musician, especially in this part of the world, who has not fallen into the same pit. In my case, I regret marrying many wives. If I knew things would later turn out like this, I wouldn’t have married so many women. Human beings are unpredictable! Don’t also forget that women are very jealous; they don’t like rivalry in any way. But we were too young and ignorant to know all these at that time. In our kind of profession, if you don’t invite them (women), they will come running to you. If you have a relationship with five people, you will find someone who will be acting like Judas among them. I am not pointing finger at anyone. So, once you know that some people are after your life, even if it is a rumour, you must be very wary. So, I am trying to be smarter by wanting to sell my house, so that no one will inherit what is not rightfully hers” The once hit maker, Ayinla who had a better career and rapport during the military era and introduced to the powers by former sport minister, Chief Alex Akinyele, begged his chain of enemies not terminate his life the way his friend and rival, Ayinde Barrister was killed about three years ago. “I was introduced to the former president by Chief Alex Akinyele, who was then the Minister of Information. Even when my first house was gutted by fire, IBB sent a minister to console me. In his speech, the minister explained why the government’s delegation had visited me. He said it was because I had used my music to promote the government’s policies. He gave me a cheque; the late MKO Abiola, Gen. Sanni Abacha, Col. Raji Rasaki also gave me money. In fact, Col. Raji Rasaki gave me a house in Ogudu. I spent six months at the Gateway Hotel and I didn’t pay a dime. So, I beg these people to allow me enjoy my remaining years on earth. Come to think of it like with it? Don’t kill me as you killed my friend, Barrister”. He however said he miss Ayinde barrister because of their jokes and memories of the past. Baba Alagbado denied ever fought with the fuji garbage fuji star; that all what they did together were just gimmicks. “Oh! I miss him a lot. Whenever he visited me, we would joke, play and recount old memories. Sometimes, he would just deliberately say, “Let me poke Kola” and I would say, “Go ahead and see the result.” He once came here and while we were eating, he said, “Do you know that as we sit here, some people are out there fighting one another over us?” and I said, “Yes”. One day, he came here with his son, Barry Showkey, who had just produced an album. He told me he had blessed it, but he wanted me, as Barry Showkey’s second father, to do the same. That day, he also said, “Kola, let’s put an end to this rivalry” and I said, “Who is fighting you? Are you not the one who always insults me with proverbs?” And we all laughed over it”. - See more at: http://myyorubamovie.com/dont-kill-me-like-ayinde-barrister-kollinghton-ayinla/#sthash.ot7vVvok.dpuf