What will WE do about Student Loans for International Students?

[JamWock]

At some point, despite all the fearful talk, we will ALL graduate from the medical program of our choice. We ARE getting into the school we need to be in, we WILL be successful.

When we get to the mountaintop, what will we do for those behind us?

As an International Student, I can barely access student loans- last year it was difficult - this year it is a bust. I am brazening it out, telling my school - hey, I'm here, I'm your best student- WAIT for the money!

Living in New York rental is hell. For those of you whose currency is anything from 50 :1 or 90:1 US dollar you know what I mean. No reasonably priced places for INTERNATIONAL students unless daddy owns an oil well. Had I not had 2 brothers struggling along- although we are in different states- the going would have been rough.

I think we should use this forum to come up with some sort of plan of how we go forward after we are through to do the following:

• Find or FOUND some institution that will lend to Med Students from countries other than the USA (maybe tie them to working for 3 years in the US)
• Find housing for medical students from outside the USA. They have no credit, and schools seem to be happy to take their fees and leave them to it. If they don't have a very rich friend or US roommate, no hope for an apartment in some big cities
• Lobby our schools to have some more appropriate funding/scholarship/housing grants/housing arrangements for students from countries foreign to the US.

Does that sound like a plan? (I use the word plan like the treasury secretary did- loosely)

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[dragonfly99]

Many/most US medical students don't get any grants or scholarships either.

I agree that the inability to get students loans is a big deal for international students, though. I guess the issue is that the banks don't know they will have any way to collect the money when you are done...you could leave and go back to your country and leave the bank holding the bag if you decided to never pay your loans. For a US student, we are a good risk because even if we later declare bankruptcy, we still will owe our student loans and as long as we are in this country the banks will be able to collect from us.

 

[gstrub]

Here's an idea: go to medical school in your own country if you can't afford it here.

 

[cpants]

Most student loans are federally subsidized. As a US taxpayer I have no desire to subsidize any non-citizen's education. If you are talking about unsubsidized loans, of course you should be eligible to get them, but as a previous poster said, you are a flight risk. When you are a risky loan candidate, you have to expect high interest or lack of funds. It's the reality of the marketplace, and the choice you make when you decide to study in the US.

 

[xscpx]

New York is expensive for everyone. I am an American citizen and had to turn down my scholarship there due to not being able to afford the cost of living. There is no reasonable priced living for anyone. Get used to it.

Why should you get any special treatment? No offense, but you are not a citizen. It is hard enough for citizens to have all their schooling funded (i'm talking mainly of grants/scholarships but loans too) Tell me, if I went to your country tomorrow and asked for them to give me all sorts of huge loans to go to school, would they? Of course not! It's a simple business decision: Don't loan money to people you can't get it back from!


I plan on moving to England for my PhD. I am applying for certain international scholarships, but right now am saving as much money as possible because I in no way expect them to make any special accommodations for me. I know I will have to pay rent/mortgage (planning on buying), getting a car, utilities, not to mention all new furniture and things! I know what I am going into and am planning accordingly. I do not plan on even thinking of moving until I have at least $100,000 saved up. (Which still isn't much!) Granted we have two incomes and since we live fine off of only his, mine (after I graduate and get a real job) can be banked. it will hopefully only be a few years. But this is what people do who want to go elsewhere to study. Why should America tax payers pay for your bad planning?

 

[JPR22]

I went through this in med school. I had some loans but they didnt cover tuition. Life was hard. 2 years of ramen every day,working on-campus, selling blood/platelets to the local bloodbank, stealing TP from the school washroom. On the bright side, I graduated with far less debt.