hi guys do u have any clue about gettin loan with out cosigner???? any suggestions... i m desperate.. please help..
loan with out cosigner
- Thread starter ped in
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I had heard of such a thing existing prior to the recession but in recent times - none of it.
But, you shuld call up individual banks and negotiate with them, who knows mabe something will work. Also contact the school you got into and ask them to guide you.
something will work out, dont worry!
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hey can anyone guide me if one gets accepted in any university hw much liquid money one has to show in the account to get student visa. no doubt tht we can get loan if there is someone to co-sign, but we cant say it in u.s consulate tht we have taken loan and tht too from u.s....
can anyone put some light?...new york univ the expenses are almost 3 lakh dollars..,, which is impossible for someone to show ...
can anyone put some light?...new york univ the expenses are almost 3 lakh dollars..,, which is impossible for someone to show ...
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As far as I know, u need to show liquid funds to finance whole of the education...
Since loans in the US are dispersed in a YoY basis, u can get an letter from the bank saying that they will "in-principal" approve the first year loan amount....
that letter plus liquid funds for remaining years..thats wat u need.
U r right abt the NYU thing...
has anyone got a Student Visa with insufficiant liquid funds?
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If you are a permanent resident you might not need a co-signer.. It depends on your credit history. I am not even sure if you need a co-signer at all if you are a permanent resident, even if you have no credit history.
But if you are not eligible for federal loan and will be getting private loans then you NEED a co-signer. And this co -signer must be a citizen ( maybe also a permanent resident- not sure)
This co-signer must have good credit..
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yaa it can be a permanent resident as well...
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# Loan without co-signer:
1) If you are not a green card holder/citizen here, it's nearly impossible to get LOAN from US Banks without co-signer. However you can get loan of nearly $20,000 - $40,000 per person (after conversion in US currency) from your HOME COUNTRY BANKS. In this case, you may get student loan on your own name, on your parents' name (home property mortgage based) and/or your relatives' name. If you really work that way, you may collect the total loan amount of approx. $60,000-$120,000 (First year tution and other fees of your program included!!!). So for the rest, you will need a co-signer from US with good credit history to get the rest loan amount from US Banks.
2) PERMANENT RESIDENT (Green card holder/ citizen) doesn't need co-signer and is eligible for FEDERAL LOAN. Getting private loan is NO big deal if needed (Co-signers are plus point for private loan though!!!).
3) Interest rates (Approximate range):
- FEDERAL LOANS: 5-6%
- Private loans: for residents (6-7%)
- Private loans: for non-residents (7-9%)
4) Interest rates count from very first day. So, add $15,000 - $25,000 interest per year to your overall estimated expenses.
5) MORE CO-signers, much BETTER credit history, EASIER to get private loan (for both Non-residents/residents!)
Hope that helps!!!
1) If you are not a green card holder/citizen here, it's nearly impossible to get LOAN from US Banks without co-signer. However you can get loan of nearly $20,000 - $40,000 per person (after conversion in US currency) from your HOME COUNTRY BANKS. In this case, you may get student loan on your own name, on your parents' name (home property mortgage based) and/or your relatives' name. If you really work that way, you may collect the total loan amount of approx. $60,000-$120,000 (First year tution and other fees of your program included!!!). So for the rest, you will need a co-signer from US with good credit history to get the rest loan amount from US Banks.
2) PERMANENT RESIDENT (Green card holder/ citizen) doesn't need co-signer and is eligible for FEDERAL LOAN. Getting private loan is NO big deal if needed (Co-signers are plus point for private loan though!!!).
3) Interest rates (Approximate range):
- FEDERAL LOANS: 5-6%
- Private loans: for residents (6-7%)
- Private loans: for non-residents (7-9%)
4) Interest rates count from very first day. So, add $15,000 - $25,000 interest per year to your overall estimated expenses.
5) MORE CO-signers, much BETTER credit history, EASIER to get private loan (for both Non-residents/residents!)
Hope that helps!!!
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