Loans for International Students

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drbeezy said:
why are you international dentists so keen on coming here??

the MARKET IS BECOMING SATURATED AND YOU WONT BE ABLE TO PAY THAT 18percent loan back...

its hard enough as it is here...
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Thank you for your information.
Could you tell me where you have these information about 18% loan back?
Even though I have a cosigner, shoul I pay for 18% loan back when I am accepted in dental school?
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can anybody tell me when is the best time to apply for a loan?
 
Do european countries offer
student loans for American
students?
 
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:luck::luck::luck:can someone plz write me ,if international student who is not american resident and has no social security number and no american address for now,can apply for a loan with cosigner?
please write me some informations
 
sarasady said:
:luck::luck::luck:can someone plz write me ,if international student who is not american resident and has no social security number and no american address for now,can apply for a loan with cosigner?
please write me some informations
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If you are a FTD and not a citizen or permanent resident of the US, you DO NOT qualify for a federal loan. That means you will have to get private loans.
Getting private loans is a big deal because you will need a co-signer. This co-signer MUST be a citizen/permanent resident with GOOOD CREDIT HISTORY.
This co-signer must be someone who really cares about you to take the risk of being responsible for all this debt you will carry. If you die for example, this person will be responsible for all your debt. So keep in mind this person should be in your family. It is common for friends to offer help at first and then give up on doing it after they find all the amount of money and risk it involves.

If you pay your loans for 4-5 years with no problems, apparently your co-signer can ask to get his name out of the loan. You can research into that

Another thing is that differently than federal loans, private loans DO NOT have fixed interest rates. That means it depends on economy factors, etc. The interest rate will always be higher than the federal loan interest rate. And there is no way for you to know how much interest you will be paying within5 -10 years.
Seems like right now their interest rate is around 8.5 % a year according to a lecture I attended at UOP. Because of economy it is being a little harder to get these loans. It used to be easier in the past.
 
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ilovegoldens said:
If you are a FTD and not a citizen or permanent resident of the US, you DO NOT qualify for a federal loan. That means you will have to get private loans.
Getting private loans is a big deal because you will need a co-signer. This co-signer MUST be a citizen/permanent resident with GOOOD CREDIT HISTORY.
This co-signer must be someone who really cares about you to take the risk of being responsible for all this debt you will carry. If you die for example, this person will be responsible for all your debt. So keep in mind this person should be in your family. It is common for friends to offer help at first and then give up on doing it after they find all the amount of money and risk it involves.

If you pay your loans for 4-5 years with no problems, apparently your co-signer can ask to get his name out of the loan. You can research into that

Another thing is that differently than federal loans, private loans DO NOT have fixed interest rates. That means it depends on economy factors, etc. The interest rate will always be higher than the federal loan interest rate. And there is no way for you to know how much interest you will be paying within5 -10 years.
Seems like right now their interest rate is around 8.5 % a year according to a lecture I attended at UOP. Because of economy it is being a little harder to get these loans. It used to be easier in the past.
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I believe as stated in Sallie Mae rules...
if the borrower himself dies or is permanently handicapped..
the loan is waived off..........
and incase the cosignee dies......it is taken as a Default..
 
can anyone plz tell me about the loans for green card holders...I have got my green card recently but don't have any credit history..so would I be eligable for federal loans...someone told me that even though you are green card holder but you need to have a good credit history in order to get the laon..at the same place another person told me that federal laons for stuides don't need credit history..I m confused...CAN ANYONE HELP ME?????
 
meggs said:
Hi Helper,

Thanks, it's great to finally find someone who can talk based on their experience. It will be great if you tell us your whole experience, like: (this will probably get long):)

what banks offer this type of loan?
to how many did you apply?
what should be the credit history of your co-signer? I mean most of us are not very familiar with the US credit method, since not in all countries is the same. What's the minimum your co-signer needs to make per year?
Of the institutions you applied to, how many approved you?
what's the cost per year of the program you are going to? Total cost?

And anything else, you think will help

thanks
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Is there any other option than having a co-signer?! Cause i feel like it is a huge favor to ask from a distant relative or a family friend and that's all i got in the states! thanks
 
Hi, if you're married and waiting your green card, can you husband be your co-signer since he's a US citizen?

Thanks for the help.
 
kawthar said:
Hi, if you're married and waiting your green card, can you husband be your co-signer since he's a US citizen?

Thanks for the help.
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Yeah. But they have to meet bank specific credit and income requirements for private loans. Check bank websites as they are different.
 
Hello everyone!

I was wondering about this. IF you are on a K3 visa (spouse visa) can you take out a loan and join the program without changing to the students visa? K3 is used to keep families of US Citizens together when the green card is processed. My question is, if I get that visa, will I be able to secure myself a loan (with cosigner, etc) and start the education there? Hope someone can help me with the question.
 
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hey while submitting financial documents to the university, do we have to show the loan taken for 3 years of education or does it have to be on a yearly basis...
 
hi....im goin to give nbde1 in dec.i dont have any relatives in USA,all of them are in canada.can perm resident of canada act as cosigner for my dental school loan??som1 told me that v can get loans from royal bank of canada too in which case canadian resident can be co-signer.pls sombody confirm if this is true???
 
R19 said:
hi....im goin to give nbde1 in dec.i dont have any relatives in USA,all of them are in canada.can perm resident of canada act as cosigner for my dental school loan??som1 told me that v can get loans from royal bank of canada too in which case canadian resident can be co-signer.pls sombody confirm if this is true???
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you already have enough information, may be more than required at this time. What u said is right and Pr of canada can cosign, but u wont get full amount. I suggest leave all this for now and concentrate towards ur score.. Good Luck..
 
Perio SDM said:
you already have enough information, may be more than required at this time. What u said is right and Pr of canada can cosign, but u wont get full amount. I suggest leave all this for now and concentrate towards ur score.. Good Luck..
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:thumbup:ur right....i stopped worrin bout all this till i m done wid exam.its just i wanted to make sure tht what i knew was right.
 
hi there! i'm a canadian foreign trained dentist! soon will be taking the NDBE part I
just wanted to know something from people's experience! #1 how long would it take to get accepted in one of the programs! #2 when is the best time to apply for school after the exam!! #3 and about the loan! i wanted to get a loan that covers my personal expenses plus the tuition fees for school!

please help with all the info u've got
thank you in advance

roleeta
 
hello ppl.... I am a foreign student and i am planning to give my exam in april ..nbde part 1.. I need to know the loan procedure if i have a co signer there in america.. What are the requirements... How easy is it to get the loans... Its very urgent...plz plz...help!!
 
Does anyone know if you can take out multiple LOC to satisfy tuition (+living expenses) at american schools that easily go beyond the 200K loans?

Also, I heard, that banks give you more money as needed in later years? Is that true?

Thanks
 
rose2010 said:
hey while submitting financial documents to the university, do we have to show the loan taken for 3 years of education or does it have to be on a yearly basis...
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It depends on the university scholar office. Usually you have to show the financial capability of entire study period but most of the time school will let you join even if you show for first year. Regulation prohibits private banks to sanction loan for more than one year. so at a time even if you apply for 2 years of loan, Bank will approve only for first year. Next year you have to reapply.
 
bombshell said:
Hello everyone!

I was wondering about this. IF you are on a K3 visa (spouse visa) can you take out a loan and join the program without changing to the students visa? K3 is used to keep families of US Citizens together when the green card is processed. My question is, if I get that visa, will I be able to secure myself a loan (with cosigner, etc) and start the education there? Hope someone can help me with the question.
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I am not sure but K3 can apply for federal loan with immigration parole number. Just visit website of FAFSA and call them to make sure. For Visa and status of change you should contact student scholar office. They have team of specialists working on different type of Visa types.
 
geministudent said:
hello ppl.... I am a foreign student and i am planning to give my exam in april ..nbde part 1.. I need to know the loan procedure if i have a co signer there in america.. What are the requirements... How easy is it to get the loans... Its very urgent...plz plz...help!!
Click to expand...

Private bank needs these things
US citizen/ PR co signer
Good credit score of co signer (more then 700 at least)
Good income ( minimum $18000 gross income annually )
Credit / Debt ratio of cosigner less then 45%

More the income and higher the credit score will give you good interest rate. Federal rate is around 7% so private bank interest rate will be higher than that.\
good luck
 
duppyconqueror said:
Does anyone know if you can take out multiple LOC to satisfy tuition (+living expenses) at american schools that easily go beyond the 200K loans?j

Also, I heard, that banks give you more money as needed in later years? Is that true?



Thanks
Click to expand...

They will give u the max the school have already determined for that particular semester or year. U will get info from financial aid office who are their preffered lenders and when to apply. Please understand borrow only what u need(I used to read this all the time but never realized until Im into this situation myself). NYU loans(private school) kills u when when it comes to repayments...I have to pay 2300 alone in monthly installments. And that's not it when I applied for a loan to setup dental office it was denied since they take into account all the money that u owe to the banks....trust me when u take that loan u will be paying that off for the rest of your life....private loans are even worse.
 
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kim kim said:
can anyone plz tell me about the loans for green card holders...I have got my green card recently but don't have any credit history..so would I be eligable for federal loans...someone told me that even though you are green card holder but you need to have a good credit history in order to get the laon..at the same place another person told me that federal laons for stuides don't need credit history..I m confused...CAN ANYONE HELP ME?????
Click to expand...
As long as u have green card....for student loans u don't need credit history...u will even get the private loans too.
 
Hi all,

Do we need any documents from school before we apply for loan ?

Thanks
 
hi, I am a dentist who was graduated from a foreign dental school.I am permanent resident and going to take nbde.I pass the toefl exam but I am anxious about financial aid.I was wondering if financial aid covers both tuition and living expenses.I am eligible for fedral loan as well.I would be happy if any one can help me find out the solution
 
Hi.I have a strange situation. I got acceptance in to 2 years program that will cost around 130K. I am believing my US based cosigner to co-sign right now.. but as another strategy.. i have another sponsor with excellent credit history and financial background in U.K. is there any way i can get a loan from U.K. bank for education in U.S.? doses international banks like HSBC can lend me money? by the way i am on a student visa in US and i am from India.
 
drhallow said:
hi, I am a dentist who was graduated from a foreign dental school.I am permanent resident and going to take nbde.I pass the toefl exam but I am anxious about financial aid.I was wondering if financial aid covers both tuition and living expenses.I am eligible for fedral loan as well.I would be happy if any one can help me find out the solution
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Yes, Financial Aid will cover the whole budget what ever your school certifies for you. That is your tuition and living expanse alltogather. Good luck to you..:thumbup:
 
krishdentist said:
Yes, Financial Aid will cover the whole budget what ever your school certifies for you. That is your tuition and living expanse alltogather. Good luck to you..:thumbup:
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Is there anyway to get loans without the financial office knowing about it? I hear they want you to take federal loans first, but i would rather avoid those for personal reasons.
 
Hi, does any body know whether u have to have the exact amount of tuition and living expenses for a year in your account in order to be approved for getting the I-20 form? I mean I have a bank statement from another country that shows my sponsor have the amount of tuition for a year, and it is 4 months old. Is the school strict about the exact amount of tuition+ living expenses even though u don't have to pay the full tuition all at once?!
 
chamfer said:
Hi, does any body know whether u have to have the exact amount of tuition and living expenses for a year in your account in order to be approved for getting the I-20 form? I mean I have a bank statement from another country that shows my sponsor have the amount of tuition for a year, and it is 4 months old. Is the school strict about the exact amount of tuition+ living expenses even though u don't have to pay the full tuition all at once?!
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depends on what school u r talking about.
 
chamfer said:
I am talking about Temple University!
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temple is a 3 year program.
I doubt they'll issue an I-20 with one year funds for a 3 yr program.
Please call/ mail them and ask.

Schools can have different reqs for diff students. so, a student not having an F1 may be asked to show funding for the entire amount while a student having a valid F1 may be asked to show funds for 1 year only.
 
Which one to chose Citibank loan or Sallie Mae loan? Also what is better a loan with interest based on the LIBOR index or the Prime Index? Please reply I am so confused.........
 
erid said:
Which one to chose Citibank loan or Sallie Mae loan? Also what is better a loan with interest based on the LIBOR index or the Prime Index? Please reply I am so confused.........
Click to expand...


http://www.imaneinstein.com/article/libor-vs-prime-rate

Libor is generally lower than prime, but your interest will depend on the lending rate you get.

It depends on your credit history / co-signers credit history.
 
Does anyone know anything about Global Student Loan Corporation?
(http://www.globalslc.com/)

It's the only one I found that does not require a US citizen cosigner.

Anyone uses this or know anything about it?
I am not seeing a lot of info on the site...or maybe I'm just bad at browsing. :(
 
I am FTD, US citizen .I will get stared AEGD program in July 5th.
the stipend is $20,000 in the first year. Someone know if i qualify for student loan.

thanks
 
clarkbar said:
Is there anyway to get loans without the financial office knowing about it? I hear they want you to take federal loans first, but i would rather avoid those for personal reasons.
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If you are US resident then you have to fill FAFSA even if you don't want federal loan. You can pay the fees any how you want. But remember if you take the student loan then check goes to the school not to you. so they will know how you getting your money out. and If you take personal loan and pay it towards your tuition then nobody is going to know. but interest rate for personal loan will be too high and you can not differ them. You are going to start repaying it from the very first month you borrow it.
 
Tita said:
I am FTD, US citizen .I will get stared AEGD program in July 5th.
the stipend is $20,000 in the first year. Someone know if i qualify for student loan.

thanks
Click to expand...

Yes you are eligible for residency loan but no grants as it is a masters program.
 
erid said:
Which one to chose Citibank loan or Sallie Mae loan? Also what is better a loan with interest based on the LIBOR index or the Prime Index? Please reply I am so confused.........
Click to expand...

Well you don't really have choice between LIBOR and Prime. Bank decides it. Sallie Mae is the largest group of the US which give mainly student loans. But it is hard to get as they need a strong co signer. Citi is easy to get in compare to Sallie Mae. Interest rate may vary with the same cosigner in both the banks. I would suggest you to apply in both at the same time so It will not affect credit history that much. Advantage of Sallie Mae is you can release your cosigner in 1 year after you start replaying your loans where as in Citi it is 2 years (subject to the fact that you much be a green card holder when you release the cosigner in both the cases)
 
hi i m usa green card holder ...my wife citizen of usa and can u tell me which procdure fr loan of advanced dental program and our financial condition nt good and i heard abt fedrerallaon ...i will requier co signer..pls gve me reaply
krishdentist said:
Well you don't really have choice between LIBOR and Prime. Bank decides it. Sallie Mae is the largest group of the US which give mainly student loans. But it is hard to get as they need a strong co signer. Citi is easy to get in compare to Sallie Mae. Interest rate may vary with the same cosigner in both the banks. I would suggest you to apply in both at the same time so It will not affect credit history that much. Advantage of Sallie Mae is you can release your cosigner in 1 year after you start replaying your loans where as in Citi it is 2 years (subject to the fact that you much be a green card holder when you release the cosigner in both the cases)
Click to expand...
 
jigs said:
hi i m usa green card holder ...my wife citizen of usa and can u tell me which procdure fr loan of advanced dental program and our financial condition nt good and i heard abt fedrerallaon ...i will requier co signer..pls gve me reaply
Click to expand...

Hi jigs,
If you have agree card you are safe. you just have to fill FAFSA after you are admitted to the school. FAFSA application will give you federal loan with fixed percentage. you don't even need a cosigner. neither you need good credit history or any sort of high income proof. As of now Just concentrate on your admission procedure and you will be just fine.
 
thanks..fr fast reaply ......
krishdentist said:
Hi jigs,
If you have agree card you are safe. you just have to fill FAFSA after you are admitted to the school. FAFSA application will give you federal loan with fixed percentage. you don't even need a cosigner. neither you need good credit history or any sort of high income proof. As of now Just concentrate on your admission procedure and you will be just fine.
Click to expand...
 
Tita said:
I am FTD, US citizen .I will get stared AEGD program in July 5th.
the stipend is $20,000 in the first year. Someone know if i qualify for student loan.

thanks
Click to expand...

You are qualified for CitiAssist® Health Professions & CitiAssist® Residency, Relocation, and Review Loans. But for this loan you need a good income and a good credit history. If you don't have one then you need a cosigner who has a strong credit history.
 
Hello everyone,
I have been in the U.S for 3 years with a J visa, is that possible to apply for a private loan without co-signer?
Thanks.
 
lzt009 said:
Hello everyone,
I have been in the U.S for 3 years with a J visa, is that possible to apply for a private loan without co-signer?
Thanks.
Click to expand...

I am sorry but it is not possible to apply to US bank without a cosigner who has a good credit history and who is at least green card holder.
 
krishdentist said:
I am sorry but it is not possible to apply to US bank without a cosigner who has a good credit history and who is at least green card holder.
Click to expand...

Thank you so much my friend, so there is no way to get loan w/o a co-signer, right? Even with higher interest? pls bear me.
 
lzt009 said:
Thank you so much my friend, so there is no way to get loan w/o a co-signer, right? Even with higher interest? pls bear me.
Click to expand...

Not in my knowledge. If you find one please let me know. It might help other DDS aspirants too.:thumbup:
 
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