Please help me with advice without flagging me RED.
I am a 22 year old guy from India coming to US in August to do my Masters in Computer Science. For the first semister fees, I got a Student loan approved in India. But from the second semister onwards, I want to get a loan in the USA. What are my chances? Do I, as an International Student, qualify for all (or any) Graduate Student Loans?
My cousin, who currently is working in US, told me that the Interest rates are low is US when compared to India (12% in State Bank of India). What are the interest rates on student loans in US? What are the Banks/Financial Institutions which give these loans. I got some valuable information here but it doesnt mention anything about International Students.
I am doing some research on the process to apply for some Graduate Federal loans like Stafford etc. But I read that these loans are only for US Citizens/ GC Holders.
Do I have any chances to getting a loan if my cousin co-signs for the loan or signs as a surity for me (He is not a Citizen/GC holder too. He is on work visa)? OR Can he apply for a Student loan on my behalf?
Lastly, I am learning about this something called "credit history" on this forum. I understand that I might not have any credit history by the end of my first semister. So how does this affect my chances?
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Your chances are not too good. Federal loans are only for citizens/permanent residents. I'm on a work visa, my wife is F-1, was able to get a private loan @ 8.x% after some friends co-signed the loan (AFAIK co-signers MUST be citizens/perm. residents).
I too was an international student on F1 Visa when i was in grad school could not get any loans i had to depend on loans from my home country. tough luck my friend, america helps only its citizens and not foreigners Welcome to reality
Until a while ago, I too was an international student. I had secured a loan from a bank in India to pay my first semester fees. I searched a lot for F1 students loans but in vain. I had a on-campus job that earned me enough to pay off living expenses. However, when a I got my first credit card ever from a US bank, I wondered how far could I go living on the credit card. Finally, I did it and I owe it to the credit cards for being able to pay my fees and thus graduate, and also buy a car. Sure, I ended up with around $10Gs of balance. Fortunately, after I got my job, I continued to live frugally and was able to pay off most of the balance before the 0% promotional APR period expired.
Also, thanks to FWers, I continue to grab some nice bonuses now and then, like gas cards for test driving a car, cash for opening a new bank account, Trilegiant AORs and stuff like that.
Wait. Although I'm not an Indian student, I want to help Indian friends.
If your cousin has more than 3 yr of US credit history, you can ask him to cosign with you for a private loan at www.accessgroup.com. Most ppl get 9.xx rate.
sweetwild said:Wait. Although I'm not an Indian student, I want to help Indian friends.
If your cousin has more than 3 yr of US credit history, you can ask him to cosign with you for a private loan at www.accessgroup.com. Most ppl get 9.xx rate.
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