Q: I’m looking for a bank that offers private loans for foreign enrolled us students. I know Salliemae does, however they require interest payments right away. Do you know of any other private student loans for foreign enrolled US students that do not require this?
A: Before obtaining a private student loan, all US students, including those studying abroad should complete a FAFSA. Federal student loans for college are typically the most economical way to fund a college education for both students enrolled in the US and students enrolled abroad. US students enrolled in a foreign school can utilize Federal Stafford Student Loans, which will not require interest payments while in school.
For US Students planning to enroll into a foreign college, the education-funding options are much more limited than for those students studying in the US. However, there are international student loan providers that specialize in providing students with complete and partial funds to cover education costs in a foreign country. Start by completing a FAFSA to find out how much money you can borrow in federal student loans, and then visit our Private Student Loans section to find a list of private student loan lenders to compare. For private student loans it is extremely important to compare different student loan providers, to help find the best student loan, and cheapest student loan for your needs.
Providing tips on paying for college, and answering all of your student loan and college financial aid questions. Have a college financial aid question? Submit it on our Facebook page, or by hitting the Contact Us link below. Follow us on Twitter, or join us on Facebook for daily financial aid tips and new scholarship listings.
