Abroad Study Loan
Study Abroad Loans Students who choose to study abroad will likely find that the expenses will add up fast. With tuition, books, transportation, and living expenses, abroad study loan students may find that after all their financial aid, they still need more money to cover their expenses. If you’ve maximized your scholarships, grants, and federal loans, then you may consider applying to private study abroad loans that can help you cover the costs. Our loan comparison tool will allow you to compare loans and find the loan that’s suitable to meet your needs – and you can apply right online.
Understanding the Loan Process As a study abroad student, you can apply for our loans anywhere in the world. Use our compare student loan tool to begin the process: • Complete the student loan tool where you’ll be matched with lenders • Evaluate which loan option works for you, and apply right online • Your loan will be evaluated and if approved, will need your school’s authorization • You will need to sign a Promissory Note and supply any other requested information • Funds will be disbursed directly to your school
Am I eligible for Study Abroad Loans Students who are US citizens and permanent residents are eligible for study abroad loans if they are participating in a study abroad program at an approved school in the United States. The student must receive credit at their home college or university. If you are not sure if your school is eligible, see the complete list of eligible schools. Your school must be accredited by an agency recognized by the United States Secretary of Education and be eligible to participate in federal student aid programs.
Are Cosigners Required US citizens and US permanent residents are not required to have a cosigner, but often times the addition of one can increase the likelihood of approval as well as secure a more favorable interest rate. Your cosigner must also be a US citizen or US permanent resident that has lived in the US the last two years. Your cosigner must have a valid social security number and pass a credit check. What Study Abroad Loans Are Used For Like all private student loans, study abroad loans can be used for education-related expenses.
These expenses include tuition, books, fees, insurance, transportation, room and board, and other schoolrelated expenses. You can borrow the total cost of your education minus any other financial aid you have received. Your school will certify the total amount you are able to borrow.
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