Student finance for study in North America

Hi, I was just wondering how student finance works. for UK students studying in North America (or anywhere abroad really).

Is there a system in place anywhere similar to that of the UK system of student loans? ie. loans at no interest, don't have to be repaid until earning a certain amount, etc.

Thanks for any help

Reply 1

Leon Trotsky

3

As far as I'm aware, apart from getting a scholarship or a conventional loan, there's no student finance for overseas students studying in the USA.

Reply 2

AliciaJ703

2

To qualify for a U.S. loan as an international student, you must have a creditworthy U.S. citizen or permanent resident as a co-signer; each individual U.S. college/university includes financial aid details on their websites for international students.

Reply 3

BorisMalden

OP

10

AliciaJ703

To qualify for a U.S. loan as an international student, you must have a creditworthy U.S. citizen or permanent resident as a co-signer; each individual U.S. college/university includes financial aid details on their websites for international students.

And do these loans have an interest rate or need to be repaid immediately?

Reply 4

AliciaJ703

2

midpikyrozziy

And do these loans have an interest rate or need to be repaid immediately?

Most loans have interest rates with rates differing depending on the lender. Don't get anything over 9 percent with 5 percent being ideal.
Repayment options would be arranged by you whether you wish to pay a portion while you're in college or after you graduate. Take my advice - do not get a private loan if you can help it. Repayments options are difficult with a private loan. Also, do not get a loan from Sallie Mae.

Reply 5

BorisMalden

OP

10

AliciaJ703

Most loans have interest rates with rates differing depending on the lender. Don't get anything over 9 percent with 5 percent being ideal.
Repayment options would be arranged by you whether you wish to pay a portion while you're in college or after you graduate. Take my advice - do not get a private loan if you can help it. Repayments options are difficult with a private loan. Also, do not get a loan from Sallie Mae.

Ok, thank you :smile:

I take it you or someone you know had a bad experience with Sallie Mae?

Reply 6

AliciaJ703

2

midpikyrozziy

Ok, thank you :smile:

I take it you or someone you know had a bad experience with Sallie Mae?

You're welcome. Yes, Sallie Mae and a few others. :p:

If you have additional questions, don't hesitant to ask. :smile:

Reply 7

harrypotterfreak

There are Unis in the states who admit need blind and give aid need based. Harvard, Yale, Dartmouth, MIT, Williams, Amherst all provide 100% of your demonstrated need, usually in the form of a scholarship. You can also sometimes get a loan from the college itself but you would need a co-signer who is a US citizen.

Student finance for study in North America

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