Getting Student Loans as a Graduate Student Abroad

Loans for graduate students studying abroad must be U.S. citizens and permanent residents enrolled in approved schools with the United States of American who wish to pursue study abroad. For study abroad loans for graduate students who are studying at approved schools and who are participating in school sanctioned study abroad programs around the world must also have a reference. This can be a nearest relative or friend not living with you.

When you apply with a co-signer, you will need the same information for your co-signer as follows: Full name, Social Security Number, Date of Birth, Permanent Address and Number of Years at the Address (no PO addresses), Monthly Rent or House Payment, Home Phone Number, Occupation, Employer and How Long Employed, Business Phone, Gross Annual Income, Proof of Enrollment such as Tuition Invoice or Letter of Acceptance.

The origination fees vary based on your own credit rate and then on your co-signer's. The Study Abroad Loan is a credit-based loan, not a need-based loan; Therefore, it will be relying, on the credit rating score of the student and/or the co-signer if used. This is one of the best features of the Study Abroad Loan.

Graduate borrowers may borrow annually up to the lesser of the cost of attendance or $30,000 ($40,000 for certain schools that have been determined that the annual cost of attendance exceeds $30,000). The aggregate maximum amount of borrowing is US $130,000 overall. The terms are graduate repayment, no pre-payment penalties and minimum monthly payment as low as $25.

You can request a paper application, apply by telephone (866 235-2255) or online. If you do have any questions about the application as you are filing it out, you should call toll-free. It varies on how long it takes for you to obtain the loan. Those factors are, your credit history and rating, your school, and the amount of funding you have requested.

The interest rates for private Study Abroad Loans are based on two variable factors, the LIBOR Index rate and your credit rating. Your credit rating makes the most difference. If you have less than a perfect credit, your rates will be higher by as much as 3%, so it is strongly advised that you get a qualified co-signer.

London Inter Bank Offered Rate (LIBOR) Index is an average of the interest rate of dollar-denominated deposits traded between banks in London. The LIBOR Index is an international index, which follows the world economic condition. It allows international investors to match their cost of lending to their cost of funds.
Bad Credit? No Credit? No Problem! Guaranteed Approval Loans Are Available!