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Aug-29th-2011

International Student Loans – Application Process

International student loans are actually customized personal education loans that are offered to foreign students who are studying in the USA or American students studying abroad. Some of these loans are available as private rather than government loans, and almost all of these loans require an American citizen as consignee. These education loans are a lot like other student loans available and are particularly suitable for those students seeking a higher education in the fields of engineering, medicine, science, commerce, arts or otherwise. Student loans provides tremendous financial assistance to international students who look forward to achieving their dreams through higher education abroad.

The procedures for applying for these student loans are very specific and it is imperative that students follow the guidelines to avoid delay or disapproval of their application for admission to the USA to study.

These students loans are available for international students who intend to study in the USA, provided they plan to attend an approved school and have a US Citizen or a permanent resident who can co-sign the loan together with them.

Students MUST submit a duplicate of one of several important documents: Student visa (type F1, H1B, J1, or M1).

International students have to fill out an application using an approved co-signer and should submit an application for international student education loans after exhausting all scholarship grants, personal resources along with other options.

International Student education loans, just like most personal education loans, may be used for education-related costs, which includes such things as tuition, books, fees, insurance, transportation and room and board along with other school-related costs International students may simply pay an origination charge after receipt of the loan, however, this sum is in the overall loan amount, and does not need to be paid in advance.

Students will be immediately notified if they are conditionally approved for the loan. Students studying abroad can defer repayment of their international student loans while they are enrolled full-time, and for six months after they complete their studies. Students will then have up to 20 years to repay the loan, with a payment due each month. There are a number of different international student loan programs available so students should do the research to seek out the ones that offer them the best advantage.

It is very important to remember that these loans are sanctioned on a one year basis; therefore, if the student is planning to study for more than 1 year, they will have to contact their student financial aid office to reapply for the following year.

My personal experience can attest to the benefit of student loans. My goddaughter lives in Europe and desires to study in the United States; as part of my efforts to assist her in gathering as much information as possible to obtain a student loan, I saw this as a perfect opportunity to share what I have discovered with others who might be in a similar situation. After much research, my god-daughter is well on her way to meeting her goal; she plans to begin her studies in the U.S. in 2011; we are excited and know that she will use this great American education to give back to her country of Cameroon, Africa.

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