Loans for International Students

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Hi
I agree with Jayasheree that there is no bank in the world that could offer a loan without any profit on bank's part and I would say that imran is actually posting question in a wrong way as the most of the readers who don't have knowledge of this religion cann't understand the question. My intention is not to make some one agree with Islamic banking, but I thought I should reshape his question in a more understandable form. His question should have been "if there is any bank in US that offers loan based on Islamic shariah's model". The answer is "Yes". There are banks in US that offer such loans, but currently such loans are limited to financing house, automobile or small businesses. To give you an example check out following websites that offer Islamic loans in north america and you can google others on your own.

http://www.lariba.com/

http://www.islamicfinder.org/index.php?sid=323907150&t=sub_pages&cat=390&lang=english

You will see that these loans also charge you some thing like interest and your question next question would be, "then whats the difference". The difference is only that they won't charge you at a "fixed rate", instead their interest (they give it a different name) would be based on profit or loss based on bank's investments. Now don't ask me how the system works as I am not good in economics, you can contact these banks as there are lots in middle east and growing rapidly in US now. Let's hope that they can offer educational loans based on Islamic Shariah in near future.
Currently to my knowlege ISNA offers Islamic educational loans in north america, but their loans are limited to $8000, my cousin got it for her Med school in Toronto some 4 years back and she told me that its a very good loan, but it doesn't cover the entire cost.

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hi does any one have any info about federal loans application online..?i went to fafsa website but it was so complex i couldnt understand a thing..
 
hi can anyone tell me abt the intrest rates for private loans?
 
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You can apply for 'private sponsor loan' student loan from access group (www.accessgroup.org) select Find a Loan>StudentLoanFinder>Dental/International>"Sponsored Access Loan" for students who don't have good credit history themselves; or "Comp Access Loan" for those students who have good credit history themselves). Co-signer need not be a US citizen or GC holder. They will ask for your passport when you say that yoru GC is in progress. If the co-signer's credit score is excellent, then the interest rate will be 7.88 (Libor- 5.13% + 2.75%). The loan process will take approx 1-2 weeks. hope that helps.
 
I really need some help with the loan.My husband is on h1b visa and im on h4,our green card is being processed and have received our EAD.Which lenders would be the right choice if there is no citizen or permanent resident to cosign?Anyone in the same situation as me?pls let me know

i have already contacted access gp and they said a citizen/greencard holder is required as a cosigner,and got the same reply from mefa.

Any information is appreciated.

Thanks for your time.......
 
HI am too in the similar boat as u saburi. I have one more doubt are u changing ur visa status to the student visa??or u gonna be on the EAD thing???
i am also looking out on the loans thing... wil share details wen i get to know sum stuff..
keep in touch
cheers
 
I really need some help with the loan.My husband is on h1b visa and im on h4,our green card is being processed and have received our EAD.Which lenders would be the right choice if there is no citizen or permanent resident to cosign?Anyone in the same situation as me?pls let me know

i have already contacted access gp and they said a citizen/greencard holder is required as a cosigner,and got the same reply from mefa.

Any information is appreciated.

Thanks for your time.......

I also wanted to know which lender would accept H1B cosigner. I also contacted acces and mefa and a couple of others, but all of them ask for a credit wealthy US citizen or permanant resident cosigner.
 
hi
do anybody knw tht, can H1 be the cosigner for loan or not? because i do not have any body who has green card or citizenship

lookin forward tht sombdy might knw the solution

thax
 
hi
do anybody knw tht, can H1 be the cosigner for loan or not? because i do not have any body who has green card or citizenship

lookin forward tht sombdy might knw the solution :confused:

thanx
 
hi can anyone tell me how important the social security number in loans approval...
i m on F1 visa and dont have any SSN,so is it still possible for me to take loan on my behalf and how much a co-signer help me in that...???
 
hey canine6,thank u very much for the input...
 
canine6,
Can you please write names of banks/lenders that accept H1 visa holders as only co-signer for loan ?
Thanks!

Fenil,

a person with H1 visa can be a co-signer for loan, but it is important that they have a credit history and which is good. Also, only a few of the private loans have this kind of accommodation.

Wisdom tooth,

to apply for loan you need a ssn or the no. that is provided to you by the school. But it is critical to have a good co-signer(who obviously has a SSN, a good credit history and other requirements that the lender would ask).

Hope this helps!
 
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i am a canadian permanent resident..and have been accepted at Boston university...can i have a co signer who is a canadian citizen for US loans like mefa...or i have to find a US citizen or permanent resident...plz help me...thanks
 
I am on H4 and do not have a SSN, and trying to get a loan, my husband is on H1 visa can he cosign for any of the loans.
I tried - access group, citi, sallimae etc but no luck.

access group use to have the sponsored loan but now they too require citizen/GC holder or eligible non citizen with alien number.

anyone know of any loans I will be eligible for, in my case?
 
can anybody tell me that is it possible to get loan without a co-signer for somebody on F1 visa.even on high interst rate
what should i do?
 
Please help me.

Do Co-Signers have the responsibility of repaying the student's loan? Do Co-Signers have to pay anything if they co-sign a student?

Thanks!:)
 
Impaction, it is difficult to get loan w/t a co-signer but there are a few loans. But they might not reimburse the full amount. Which country are you from? You might be able to get a loan from there too.

PsyChirurgus, Co-signers are equally liable to pay the loan as the borrower. Usually co-signers get released from the loan after 24 or so payments made by the borrower. Co-signers donot have to pay anything for the loan approval except to have a good credit score.

Does anybody know of a private student loan with a low interest rate?
 
any loans with H1 Co-signer???
 
can anybody tell me that is it possible to get loan without a co-signer for somebody on F1 visa.even on high interst rate
what should i do?


It is definitely possibile to get a loan on F1 even witout a co signer.
access partnership, they provide loans as far as you meet their criteria,
of having 3 year credit history wit atleast 4 accounts including credit cards..
you can get more info from their website.

best of luck
 
there are loans w/t co-signers but they will not give you the full amount as required
 
Can anybody help me!!!
I am accepted to UCLA this year. And they are asking me to apply for loan in 2 increments. For first 3 months and then for nine months. But there is a catch, When I apply for the first three months which is 25000$ and Citibank said they can't let me apply for the next 9 months now, I can apply only three months before the date i need loan. But international office of UCLA said they won't give me the I 20 unless I show them full 90000$. when I called financial aid office they said if i apply for the full 90000$ they will not verify it. So I am stuck. can anybody help me!!! my course is starting on May 22. Please help me!!:mad:
 
Please healp to pearl20, if somebody know about lone things.....
I think Nill BDS you know better then others about DDS line......

Can anybody help me!!!
I am accepted to UCLA this year. And they are asking me to apply for loan in 2 increments. For first 3 months and then for nine months. But there is a catch, When I apply for the first three months which is 25000$ and Citibank said they can't let me apply for the next 9 months now, I can apply only three months before the date i need loan. But international office of UCLA said they won't give me the I 20 unless I show them full 90000$. when I called financial aid office they said if i apply for the full 90000$ they will not verify it. So I am stuck. can anybody help me!!! my course is starting on May 22. Please help me!!:mad:
 
Hi there,

Get your loan approved for the entire amount and define the disbursement schedule as 3 months and 9 months. You should be fine.

Good luck with school

Can anybody help me!!!
I am accepted to UCLA this year. And they are asking me to apply for loan in 2 increments. For first 3 months and then for nine months. But there is a catch, When I apply for the first three months which is 25000$ and Citibank said they can't let me apply for the next 9 months now, I can apply only three months before the date i need loan. But international office of UCLA said they won't give me the I 20 unless I show them full 90000$. when I called financial aid office they said if i apply for the full 90000$ they will not verify it. So I am stuck. can anybody help me!!! my course is starting on May 22. Please help me!!:mad:
 
try access group. Google it.

Back alive after long time. Good news is that I got into NYU and the real bad news that no financial institution is willing to give Financial Aid / Loan unless I have a co-signer, who is Green Card Holder or Citizen.

My Husband has been in USA since 2002 and is on H1 since late 2003 with good credit history. We contacted NYU, Citi & Wachovia. Looks like everyone needs a Citizen or GC holder to co-sign. Even in the Access Group site, I did find requirement of co-signer to be a Citizen/GC holder. Same story even with Personal Loans with any bank.

My cousin is a GC holder however, he is busy with his Kids fee for Berkely.

Does anyone got loans without GC Holder/Citizen as co-signer if so please shed some light. I need to pay 50 grand to NYU by Jun and looks hard to pool $$$ with this stupid stipulation (co-signer has to be GC Holder/Citizen)
 
Back alive after long time. Good news is that I got into NYU and the real bad news that no financial institution is willing to give Financial Aid / Loan unless I have a co-signer, who is Green Card Holder or Citizen.

My Husband has been in USA since 2002 and is on H1 since late 2003 with good credit history. We contacted NYU, Citi & Wachovia. Looks like everyone needs a Citizen or GC holder to co-sign. Even in the Access Group site, I did find requirement of co-signer to be a Citizen/GC holder. Same story even with Personal Loans with any bank.

My cousin is a GC holder however, he is busy with his Kids fee for Berkely.

Does anyone got loans without GC Holder/Citizen as co-signer if so please shed some light. I need to pay 50 grand to NYU by Jun and looks hard to pool $$$ with this stupid stipulation (co-signer has to be GC Holder/Citizen)

Hi write2.

Did you check out this webpage (the Comprehensive Access Loan) ? http://www.accessgroup.org/Student-Loans/international-student-loans.htm

I'm pretty sure you don't need a citizen nor green card holder to co-sign for this type of loan. Just a good credit score, and enough history.
 
Back alive after long time. Good news is that I got into NYU and the real bad news that no financial institution is willing to give Financial Aid / Loan unless I have a co-signer, who is Green Card Holder or Citizen.

My Husband has been in USA since 2002 and is on H1 since late 2003 with good credit history. We contacted NYU, Citi & Wachovia. Looks like everyone needs a Citizen or GC holder to co-sign. Even in the Access Group site, I did find requirement of co-signer to be a Citizen/GC holder. Same story even with Personal Loans with any bank.

My cousin is a GC holder however, he is busy with his Kids fee for Berkely.

Does anyone got loans without GC Holder/Citizen as co-signer if so please shed some light. I need to pay 50 grand to NYU by Jun and looks hard to pool $$$ with this stupid stipulation (co-signer has to be GC Holder/Citizen)

And CONGRATULATIONS obviously for NYU ! No banana dance though, just because I think it's the most annoying emoction on SDN ... actually, the whole WEB ! :smuggrin:

But definitely good job ! Congrats again ...
 
it is true..u need to have a co-signer who must b a gc holder /us citizen...not only that he/she should b having a good credit history......if by any means one can get a co-signer...u can release him from the loan the next year....if u have developed a good creit history within a span of 3 years....u could apply for a loan thro access ! last year sallie-mae came up with a loan.......which didnt require to have any co-signer...but unfortunately for the current academic year, sallimae withdrew this offer......:thumbdown:thumbdown
 
I have been accepted at NYU but i am confused abt loans.i am a permanent resident.i applied for FAFSA. i want to know that after selecting a bank through which i borrow do i need to fill two forms---one for federal stafford loans and second for private loans or there is another way of applying....Also i have a cosigner who has excellent credit history of many years but right now he is not working for 2 months...is he still eligible as a cosigner?? Put ur input........
 
Just recieved an email that Accessgroup will no longer have Comprehensive Access loans or Sponsored Access loans for the next coming academic year!!! If anyone else knows of possible loans, I'm very interested to know more info.

PM, please!!!!!!


Hi write2.

Did you check out this webpage (the Comprehensive Access Loan) ? http://www.accessgroup.org/Student-Loans/international-student-loans.htm

I'm pretty sure you don't need a citizen nor green card holder to co-sign for this type of loan. Just a good credit score, and enough history.
 
:( I got the same email that access comprehensive loan is being cut this year. Are they kidding us? I started dental school and am in the middle of my study, and it was based on the assumption that the loan will be steady for the four years of attendence. :thumbdown:

If anyone out there knows a loan company who will finance an international student without a co-signer--would you PLEASE reply to the thread and help us poor folks?

Thanks in advance.
 
That's great info! That's helpful for more students.
 
dear helper ,i am a dentist and i also want to take a loan for my studies at a dental school..................but i wanted to know that does all of this process involves interest?
as INTEREST is HARAM(PRohibited) in islam
i being a muslim wanted to know if there is a bank which gives a time period for returning their loan,before they charge me with the interest PLZ HELP!!!!
AS IF IT REQUIRES LOAN AND I DEFINETLY WILL BE CHARGED OF INTEREST SO I CAN WITHDRAW MY PLANS FOR STUDYING AT USA
THANK YOU


good decision!
your absence in usa , creates an opportunity for some one else !!!!
find out if its HARAM to be a dentist in your religion & u can kiss good bye to the profession.
 
Papu this is a forum to discuss queries and share experiences,if at all some one has a doubt and wants to be sure(taking religion into account) no one has a right to criticize or make fun.So in future if you feel you have no knowledge about a particular topic please dont extend your help or comments. Your comment looks more like sarcasm. I dont mean to offend u but please try to keep this networking friendly.
 
hi, guys, i am so confused about the loan. Do you guys apply federal stafford or PLUS loan first? how much is the chance i can get the federal loan? I want to know how many you guys only got loan from private agency. Please help me out~~~~~~~~~~~~thax
 
hi, guys, i am so confused about the loan. Do you guys apply federal stafford or PLUS loan first? how much is the chance i can get the federal loan? I want to know how many you guys only got loan from private agency. Please help me out~~~~~~~~~~~~thax

Stafford loan funds are used first, and then you can cover the difference through GradPlus

If you are a citizen or a permanent resident you should be able to get either one.
 
Hi SDNers
I've also been accepted in BU.I'm an int'l student,I enquired some banks which offer private loans to students they ask 4 SSN,which i don't have(I do have a co-signer),as i'm in US on tourist visa.But International Student Data Form asks for showing the financial declaration, to enable to get I-20.I'm in a fix, can someone offer suggestions regarding this matter.
thanx in advance.

Stafford loan funds are used first, and then you can cover the difference through GradPlus

If you are a citizen or a permanent resident you should be able to get either one.
 
Papu this is a forum to discuss queries and share experiences,if at all some one has a doubt and wants to be sure(taking religion into account) no one has a right to criticize or make fun.So in future if you feel you have no knowledge about a particular topic please dont extend your help or comments. Your comment looks more like sarcasm. I dont mean to offend u but please try to keep this networking friendly.
Try to keep it friendly we are not kids we are mature enough to respect each other even if there are no supervision.
this forum is very helpful and we need it so we have to keep it like that...
 
Stafford loan funds are used first, and then you can cover the difference through GradPlus

If you are a citizen or a permanent resident you should be able to get either one.

Can someone offer suggestions regarding which bank gives loan to int'l dentists with least interest rates.I searched thru' the web i'm confused:confused::annoyed:
 
Can someone offer suggestions regarding which bank gives loan to int'l dentists with least interest rates.I searched thru' the web i'm confused:confused::annoyed:

Private student loans - all depends on credit history of the co-signer. You can try Sallie-Mae, Citi, Bank of America etc. These are the only banks offer private loans at this time - at least I am aware of these banks only.
 
This thread has been out for a long time.
Anyway, I was just wondering if there is any financial aid sort of a thing for international students. There's just one University I've heard which has it (WashU, I think). My question, so, is this:
For the other universities, is it simply "pay yourself or via a loan?"
I mean what chances does a person have if he really can't fund his studies, either by self or through loans, yet has had a brilliant record in the past?
Would the Universities, then, not pay attention to the merits a particular student has earned and allow them to continue on the "Financial Aid" thingy?
I am not even sure if such a thing exists for medical schools. Just asking.
 
Yes, international students are eligible for loans, but you will need a co signer who is a US citizen or green card holder.

If enough people are interested in finding out preferred banks, credit requirements, loan amounts, amounts the school will certify, terms of the loan, disbursement fees etc. I will write in detail since I have recently gone through this process for admission into IDP at UCSF.

If you have further questions, let me know.
if i m a canadian pr wat r d financial options i do hav wen i apply to any us university
 
hey guys .. i am really tensed as my co signer thing isn working out fine . i really want to know the other options i have if i dont find a co signer .

can i still manage loan from the united states ?

Thanks

serena
 
If you are not a PR or US Citizen, then the requirements to get a student loan are pretty much the same irrespective of your country of origin (applies to Canadian citizens and PRs also).
If you don't have a co-signer or can't get one, the other options that you might have are as follows: (remember, these are all worst case scenarios)
Get a loan from your home country (possible + best option)
Take a low APR balance transfer from your credit card (if possible)
Refinance your Car (if possible)
Charge your credit for tuition expenses
Take an equity home loan if possible
Get a student loan from your bank (there is a max limit of upto 15-20 K or something but with high APR)
etcetera.............

Disclaimer: I am not a certified financial advisor or investor, so please, no consultations.
 
Hey,

I was just going through the federal Stafford loan.


To be eligible for a graduate Stafford Loan, you must meet the following criteria:

* Be enrolled as a full- or half-time graduate student.
* Be a U.S. citizen, national, or an eligible non-citizen. An eligible non-citizen is a permanent resident of the United States able to present evidence from the Immigration and Naturalization Service that he or she is in the U.S. for other than a temporary purpose with the intention of becoming a citizen or permanent resident.

what does eligible non citizen means> Can any one throw light on this? I am on visa dont have Gc. Am I eligible non citizen? please explain!:confused:
 
A person on h1 b visa who has applied for green card....does that person fit
in the ellgible non citizen category for the private loans?
 
I wanna know..wat does previous statistics say about the large amount of loans required for NYU....Do students get the whole amount thru the loans...esp the F1 students eligible for only private loans..?
 
Hi
good effort by aspiredent to start platform for those who has been accepted so as to discuss further process of loan and accommodation.....guys please join this group and help yourself and help others...

Click on

http://groups.google.com/group/nyudental_ap_2012

and you may have to sign in and then click on apply.

:clap::clap::clap::clap:


Quote:
Originally Posted by aspiredent
Hello all

Here is the link for google groups for those who have received
acceptance for NYU class of 2012

Here are the essentials:
* Group name: NYUDENTAL_AP_2012
* Group home page: http://groups.google.com/group/nyudental_ap_2012
* Group email address [email protected]

You can join the group by accessing the url above and click on the link which says Sign in and apply for membership

alternative you can send your request to become a member of the group by writing an email to [email protected]
 
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