Student Loan for International Students

Student Loan is a medium by which students meet up their tuition fee, books, accommodation requirements while undertaking studies in a tertiary institution. So, finding the right student loan is a major problem students experience, especially foreign students.

In this article, I will help point you in the right direction in choosing a student loan, but first we need to know what student loan is all about.

What is Student Loan?

Student loan is money that student has to repay or pay back, and it is the best option if you as a student, cannot find free money, which is available in the form of study grants and or scholarships.

Student loans has saved a lot of students from falling out of school, especially for those from a poor or low-income family, because it has been a backbone and safety net for the students to complete their education in the degree level.

As an international student whose dream is to study abroad, but not able to secure a scholarship or grant, student loan plays a major role in helping such student get quality education in any part of the world.

International students do face a lot of challenges in finding the right student loan to apply for, especially for those wishing to study in the United States of America.

 

Main Types of Student Loans

There are two types of student loans, these are;

1.       Federal Loan

2.       Private Loan

Federal loan is a loan made available by the federal government

 

Private loan is the loan made available for private bodies, like the insurance companies, banks, any many more. They are credit-based education or study loans offered through a bank or credit union, and state agencies. In this case, students get the loan only if they are able to provide proof of  trust ( creditworthy cosigner like a parent, guardian, grandparents, family member) that they will pay back after graduation when and working. 

How to Find Student Loan?

 

Benefits of Student Loan

 

How to Repay Student Loan

 

 

 


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