Many US students don’t just want to study abroad for a semester or two, they want to complete an entire degree program overseas. If you plan on enrolling directly in a foreign university you may soon find that your funding options are more limited compared to those studying in the USA.
With limited financial aid and exchange rates eating away at the value of a dollar, you may find that you need additional help financing your college or university education. International Student Loan offers student loans that provide complete funding to cover your education costs while studying outside the United States.
Preparing for the Application Process
The most economical way to fund your education when you are enrolled in a foreign school is to borrow all you can on Federal Stafford Loans, so make sure you complete your FAFSA and get your federal funding. Typically you will need more financial assistance than is available through the Stafford program. In cases like this, you can borrow the remaining funds through our Foreign Enrolled Student Loan.
Foreign Enrolled Loan Process
As a US student enrolling in a foreign university, you can use our student loan comparison tool or review our eligible school list to determine if your school is eligible. If your school is listed, you will be matched with lenders that will meet your requirements. You can complete the entire application process online and most lenders will provide initial approval within a few weeks. You can apply for a loan up to the total cost of your education which includes tuition, room and board, living expenses, books, etc.
Cosigner Recommended for All Applicants
There are very few students who have good enough credit and income history to qualify for a loan without a cosigner, so we recommend that everyone apply for their loan with a cosigner to increase your likelihood of being approved and obtain a favorable interest rate. The cosigner must be a US citizen or permanent resident, with good credit, income history and who has lived in the USA for the past 2 years.
Foreign enrolled student loan advantages:
- Funds the total cost of education, as determined by your school, minus any other aid received.
- Fast online application and approval
- No application fee and no out-of-pocket costs
- Hundreds of approved foreign schools, including medical, dental, business and law schools