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Private student loans for international student


Anita A

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Are there any student loan for undergraduate international student that does not require the student to have a social security number? We do have a cosignor who is a permanant resident.

 

We called Sallie Mae etc but they have loans only for participating schools

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Not that I know about. Even with the co-signer I think it is very hard for F-1 students to get a student loan. You can get a regular loan from a bank though (with co-signer). Probably higher interest, and you have to start repayment immediately.

 

Tino

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I looked at that website briefly. What I saw was:

1) Interest rates over 10%, pretty high.

2) Grace period (no payment period) of only 6 months, very short.

 

For a $20000 loan you will pay back over $64000. Over $43000 in interest! I think you might be better off if you get the co-signer to get a loan from his bank, and then loan you the money.

 

Tino

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