Private loan

[cad_15]

hi guys,
I was just wondering if any international student (already in medschool) used a private lender to finance his/her education. Who is the lender, and did you need a co-signer??? Any otherinfo would be appreciated.

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[tsunamo]

hey, cad..check this out.....maybe it helps...

http://www.internationalstudentloan.com/intl_student/

 

[mackaikai]

just bumping this thread....wondering about the same question. Any international students now using private loan? what is ur interest rate? and which bank?

 

[JohnHolmes]

hi guys,
I was just wondering if any international student (already in medschool) used a private lender to finance his/her education. Who is the lender, and did you need a co-signer??? Any otherinfo would be appreciated.

I imagine the interest rate will be higher than for US Citizens at the market rate (citiassist health professional loans, 4.25% variable interest currently) because the risk for default is higher in their mind, despite the cosigner. (also, you MUST have a US citizen or permenant resident cosign for the one posted).

You might be better off finding a loan from the country or origin...

ALSO, a lot of med schools require foreign students to deposit four years cost of attendance into an escrow account (200k+) before beginning medical school. I know it is this way at Cornell and P&S). That means that interest rates will be capitalized and added to the principle much sooner.

I know non-us citizens/permenant residents are not eligible for US loans, but you might have trouble getting institutional money to, if it has stipulations on it.

All in all, it sucks!

JH

 

[ify]

If you are Canadian, try doing a search for Royalbank line of credit for professional students. I walked into the bank to get info, but I believe the info package is also online.