How to apply for an international student loan
Posted on February 12th, 2008 by Jennifer FrankelOne question that is always asked when I open the International Student Mailbag each day is “How can I apply for an international student loan?” or “How do I go about getting funding for my time abroad?”. So, I thought I would dedicate a blog post to give a brief overview of who is eligible for an international student loan and how you can apply for one.
The International Student Loan is available to any international student who wants to study at one of the approved schools in the USA or Canada. The approved schools list is also available online so you can check to see if your school is part of the program.
To apply for the loan program, you will need to have a cosigner to complete the application in most cases. Your cosigner must either be a US Citizen or permanent resident for at least the last 2 years. Once you have that you can apply for the program and the best way to do is either online (where you can walk through the application step by step) or you can phone our customer support team who will go through the application over the phone. If you do not have a cosigner you can explore no cosigner loans.
If you have all the information with you when you apply, and your cosigner has a good credit history you can receive your funds in as little as 5 business days – and even get a preliminary approval in 15 minutes.
Of course, there are many students who do not have a cosigner, and unfortunately without a cosigner the loan program is not available to you. However, there are many other resources and means to obtain funding – for example there are many international scholarships around that providing funding for students all over the world, plus you should get out the international financial aid blog which has updated listing of financial aid information.
If you have any other resources or comments about funding, post them below.
May 23rd, 2012 at 2:34 am
life is a lot easier now, at my time in college I never got such options. I had to borrow little money from friends and family…
June 30th, 2012 at 7:34 am
Wow! This can be one particular of the most helpful blogs We’ve ever arrive across on this subject. Basically Excellent. I’m also an expert in this topic so I can understand your effort.
September 14th, 2012 at 5:59 am
hello,
i am a 19 year old ugandan citizen searching for a 1000 dollars low interest student loan in a week’s period of time. i am pursuing my bachelors degree of pharmacy in uganda. please if you can help me, email me on kasomajoel@gmail.com
thankyou
September 14th, 2012 at 11:54 am
Hi Kasoma,
Thank you for your inquiry.
Unfortunately, our loan programs are for international students from anywhere in the world studying in the United States, or for US students studying abroad. We do not currently have a program for international students studying elsewhere in the world, even with a US co-signer.
If you would like more information about international student loans for studying inside the US please let us know and will get you further information right away.
October 9th, 2012 at 3:53 am
Hi,
I am a student from Srilanka. I have a dream to study in Canada. I did my Als in Maths stream and I like to follow a degree program in Engineering.If there is any way of getting a loan to study in Canada please let me know
November 12th, 2012 at 10:29 am
This is a very good and helpful website. However, I am worried that some of the posts recommending loan sites sound very much like scams. It would be a disgrace if such posts were placed here targeting students who are already broke.
December 4th, 2012 at 1:48 am
My brother is a Canadian permanent resident for the last 5 years.Can i apply for study loan to study in Canada?
December 7th, 2012 at 9:59 am
Hi Harry,
Thank you for your inquiry. I have sent you an email with more information on obtaining an international student loan. Additionally, you can find more information here.
December 10th, 2012 at 2:02 pm
Hi Harry,
Thank you for your inquiry. It will depend on what country you are a citizen of. We do have loans available to those from the US who will be studying at an eligible school inside of Canada. If this applies to you, you can apply for an international student loan here.
Good luck!