how to get loans once we get into school

[kyerra]

hi,
i want to know how to get loan for our education once we get into the school.is there anything we do in advance to apply for loans?any info will be appreciated.

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[international]

hi,
i want to know how to get loan for our education once we get into the school.is there anything we do in advance to apply for loans?any info will be appreciated.

Hi,
Either u should be a permanent resident or citizen or legal alien in this country with a co signer to get a loan. IF u r either the first or the second one, u can take a federal loan until some extent and rest private loan. If u r on a student visa or on anyother visa, u need to get a co signer for ur loan who has a good credit histroy. Private loans charge more interest than the federal loans. U can try in www.salliemae.com and www.studentloan.com

These two are the major players in the market for the private loans as far as i know.

 

[toothfairy78]

hi international&kyerra,
i just had a question reg the loans as well. like what if u r on h4 visa?do u qualify for the federal loan?then the rest u still have to cover with a co-signer what if u have noone who is willing to be cosigner?what if they r but they r not in good standing does that mena u r done for?no other way to get co-signer?thanks a lot guys i appreciate ur answers..

 

[international]

hi international&kyerra,
i just had a question reg the loans as well. like what if u r on h4 visa?do u qualify for the federal loan?then the rest u still have to cover with a co-signer what if u have noone who is willing to be cosigner?what if they r but they r not in good standing does that mena u r done for?no other way to get co-signer?thanks a lot guys i appreciate ur answers..

Hi,
if u want to take a federal loan, either u need to be a citizen or a green card holder and there is no other way as far as i know. Coming to the co signers credit history, some times even if they have a bad credit, u still can get a loan from some banks, but u might need to pay more interest than others and u might not get total amount of loan. For example, betwen citibank and Salliemae, citi people are little strict than the salliemae and i know many people who got full loan from salliemae and the same people , didnt get the full amont from the citibank.

And if u dont have any way so that there is no one who can cosign for you, u can get from ur home country, but i think u might need to put a lot of collateral.

All the best

International

 

[toothfairy78]

hi internatinal,
first of all im ust say u r simply unique in ur helping nature.god bless you!&thnaks fo rur prompt reply.well i am in a fix as we have no-one we want to ask for our loan,also we are unaware of this collateral?i dont know how good an option it is to get form home country..we dont knwo much abt that.it is not repayment that is a problem,but this whole co-signer.why would anyone want to go ontheline like that to help u?why dont they have this for when we buy a house is it not like that same(if nto more)amt of money?ok thank u have a good day.

 

[Ann 03]

i think toothfairy tht a house is a solid asset. but u get educated and thn leave the country without paying the loan amount thn its a total loss for thm. u cannot take the house with u can u . i guess thts the logic behind not needing a cosigner for a house

 

[health]

Hi all,

I am trying to get loan through a co-signer. I called couple of banks to find out about the consequences on co-signer ex: to get a loan for himself in future. They said that it depends on the lender.
My question is if my co-signer needs to buy a house next year will my loan hurt his plan? How can I convince him to sign for me now, if he has to face a problem because of my loan. Any advice/suggestions!!
Did any one take loan from their country? Do you know about the amount of collateral/interest rates/are the monthly payments deferred till we graduate etc., Sorry, too many questions.
Your inputs are greatly appreciated.

Health

hi internatinal,
first of all im ust say u r simply unique in ur helping nature.god bless you!&thnaks fo rur prompt reply.well i am in a fix as we have no-one we want to ask for our loan,also we are unaware of this collateral?i dont know how good an option it is to get form home country..we dont knwo much abt that.it is not repayment that is a problem,but this whole co-signer.why would anyone want to go ontheline like that to help u?why dont they have this for when we buy a house is it not like that same(if nto more)amt of money?ok thank u have a good day.

 

[Ann 03]

also can some1 tell me how cosigning would affect the cosigners credit history?

 

[international]

also can some1 tell me how cosigning would affect the cosigners credit history?

Hi ann,
The loan will be shown in the co signers credit report as a defered loan. And if some thing happens, and they cannot pay, it is the responsibility of the cosinger to pay those loans to make sure than his/ her credit history is not spoilt.

 

[nident12]

hi all ,
I heard tat we need to show a bank statement showing some amount wen we go to an interview . How far is it true ? Does anyone know abt i t? n how much we hav to show n all tat ?/ Its a bit difficult to manage somuch into te account .. so any help regd it wud really be appreciated ..
thanks to all ..
nident ..