LOANS for study@2006?

[kevin13579]

Advertisement - Members don't see this ad

hi all !!!

i am starting this thred specially for all who have got admission and are trying TO ARRANGE FOR LOANS.

we can use this thread to discuss:

1)What all banks or other institutions are giving loans ?
2)What is the maximum loan limit specified by them?
3)Documents etc needed?
4)interest rares

i think all this will be very useful for all of us ...

so guys please share as much info as much we can to help all who are having tough time arranging money for admission after toiling hard to get an admission.....may the issue of loans not get in between the admission

thanks in advance for all ur co-operation

 

[ambitiousdent]

Hello kevin13579,
The first step is filling out the FAFSA: Free Application For Federal Student Aid. http://www.fafsa.ed.gov/
Then contact your school for further financial aid applications.
I read a book titled " Financial Aid 101", it helped me alot in understading alot of things. You can borrow it from any public library.
Hope this helps.

 

[kevin13579]

hi thaks a lot for the info..but actually what abt the procedure for people who are not residents of US and also dont have a green card.....

also heard the schools give only a very little amount of loan...rest all has to be arranged?
any idea of banks if u ever had to take any study loan???

thanks a lot in advance only

Hello kevin13579,
The first step is filling out the FAFSA: Free Application For Federal Student Aid. http://www.fafsa.ed.gov/
Then contact your school for further financial aid applications.
I read a book titled " Financial Aid 101", it helped me alot in understading alot of things. You can borrow it from any public library.
Hope this helps.

 

[kevin13579]

hey !!!!
where r all you people ?????
arent people taking loans this time ?
just kidding ...but guys please make use of this hred actively to discuss all problems being faced and sources you people trying to get loans ....

 

[kalasagar]

when are we supposed tio aply for fafsa, do we have time for that after getting admissions, or should we start before admissions

pls let me know

bye

 

[kalasagar]

hi kevin started a good thread,

me too not having a green card supporetr,

i heard of sallie mae loans i nNYU

can they be approached for other college admissions as well, pls let me know

bye
thank you

 

[Pheonix]

Hi Kevin & Kalasagar
I am also in the same situation as u people r.From what I gathered If u r not a green card holder in U.S, then u r not eligible for federal loans which r interest free. So u have to opt for private loans provided by banks. But for this also u need a cosignor who is a green card holder & has a good credit history.
For more information ,U shuld contact your school's financial services.
I know it is bit of difficult process but it will settle down ultimately.

 

[ambitiousdent]

Hi Kevin & Kalasagar
I am also in the same situation as u people r.From what I gathered If u r not a green card holder in U.S, then u r not eligible for federal loans which r interest free. So u have to opt for private loans provided by banks. But for this also u need a cosignor who is a green card holder & has a good credit history.
For more information ,U shuld contact your school's financial services.
I know it is bit of difficult process but it will settle down ultimately.

This is just to clarify...Federal Loans are NOT interest free!!!

 

[kevin13579]

hi !!
thanks for the info...u seem to know a lot of facts anout loans ..any info abt the banks and the limittill they give loans to non US residents ???ur info would be extremely useful..thanx in advance

 

[kilani]

Even if you are not a green card holder go ahead and fill up the FAFSA anyway, it gives your future school more information about your financial situation, besides it may qualify you for state and/or institutional aid if any is available, you just don't know.

Now realistically regardless of citizenship status, most of the funding will be in the form of loans, federal and private and federal loans are NOT interest-free.

Most schools will try to help in referring you to banks or lenders, but really it's up to you to do the research and apply and get the laon with the best interest rate you can get.

I havn't done that part yet, but I will start shopping for loans very soon

 

[talyanech]

when are we supposed tio aply for fafsa, do we have time for that after getting admissions, or should we start before admissions

pls let me know

bye

Each state has it's deadline for FAFSA, some have in the end of February, some a little later. But basicly the earlier you do it the better. I'm not sure if you have to do it if you don't have green card. But those who have green card can do it before they get acceptanse, they just should write the schools codes where they applied.

 

[Jaydent]

From what I've researched only US citizens and permanent residents are eligible for FAFSA. Honestly it would be a waste of time and energy for non residents. But there are a whole lot of loan options available out there. Your school would be able to give you information and guidance regarding those.

 

[Athene]

Even if you are not a green card holder go ahead and fill up the FAFSA anyway, it gives your future school more information about your financial situation, besides it may qualify you for state and/or institutional aid if any is available, you just don't know.

Now realistically regardless of citizenship status, most of the funding will be in the form of loans, federal and private and federal loans are NOT interest-free.

Most schools will try to help in referring you to banks or lenders, but really it's up to you to do the research and apply and get the laon with the best interest rate you can get.

I havn't done that part yet, but I will start shopping for loans very soon

If you are not a green card holder or a citizen....taking benefit of any Federal funded resource meant for citizens or green card holders can jeopardize the visa status.

People,its best to contact the school you have been accepted to as only that information is fully reliable.Its just a phone call away.

 

[kilani]

If you are not a green card holder or a citizen....taking benefit of any Federal funded resource meant for citizens or green card holders can jeopardize the visa status.

People,its best to contact the school you have been accepted to as only that information is fully reliable.Its just a phone call away.

The federal government (US Department of Education) wont give you any aid anyway if you are not a green card holder or a citizen but you might be eligible for state or institution aid and for those they require you to submit FAFSA as a first step, it's not like you can fool the government by taking federal funding because you can't get it anyway if you are not eligible, they even have the option "neither citizen nor eligible citizen".

I say (and most schools do by the way) submit the FAFSA anyway.

 

[blanca]

if u r not a permanent resident or us citizen go for private loan. citibank, access group , teri, salliemae , are some of the financial institutions which give u loan based on the budget which the school has for an academic year.the loan amount approved by the bank depends on the income debt ratio of your cosigner. if ur cosigner already has some loan amount then the amount which u can borrow becomes less .
and yes u would be needing a cosigner for any private loan. if possible search for 2 cosigners so that the loan amount could be divided in two .
if u are not able to find a cosigner . try this websitelink http://www.globalslc.com/orgMain.asp?orgid=206

it says u dont require a cosigner but i have no clue how it works but try to search more of it .
i hope that helps

ya and also to add access group gives loan without a cosigner if u have at least 3 years of credit history in your name and some assets in us.
that loan is known as comprehensive access loan . try to talk to access group representatives for more details regarding this. this is something new coming up .
good luck for all those applying for the loans.

The federal government (US Department of Education) wont give you any aid anyway if you are not a green card holder or a citizen but you might be eligible for state or institution aid and for those they require you to submit FAFSA as a first step, it's not like you can fool the government by taking federal funding because you can't get it anyway if you are not eligible, they even have the option "neither citizen nor eligible citizen".

I say (and most schools do by the way) submit the FAFSA anyway.