Alternative Loans for International Students - Financial Aid

Financial Aid

Alternative Loans for International Students

For an international student seeking funding, times have changed and it can be very difficult as private/alternative lending sources have tightened the credit criteria or have eliminated their programs offered to international students completely.

There are some lenders that are still working with international students and we recommend that you go to the site below for a list of private/alternative lenders, not all of these lenders offer loans for international students. Please review the information provided by the lenders. When you have selected a lender, simply follow the instructions for international students on the lenders web site.

http://www.finaid.org/loans/privatestudentloans.phtml

Additional Information on International Loans

International student loans require a U.S. Citizen or permanent resident (green card holder) as a co-signer. The loans are credit based, meaning the co-signer must have a good credit history.
Interest rates are variable, based on LIBOR or Prime plus a margin. LIBOR (London Inter Bank Offered Rate) is always several points below prime, the margin can be from 3.5 percent to 7.75 percent, and will be set by the lender based on the credit history of your co-signer. To view current rates please go to Prime or Libor .
Repayment of an International student loan can be deferred while you are enrolled full time and for six months after you finish school.

For additional information on International loans and other sources please go to:

Last Updated:05/05/2009

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Additional Information on International Loans