International Student Loans Without A Cosigner

A few US banks will offer student loans to international students if the loan is co-signed by a creditworthy US citizen or permanent resident (holder of a "green card"). There may also be restrictions on the type of visa (F1 or J1). In addition to the loans listed below, certain international students (i.e., permanent US residents with a green card) may be eligible for Federal Stafford and PLUS loans.


Canadian Higher Education Loan Program (CanHELP). CanHELP is an option advance system for Canadian school and college understudies to study in the USA and sanction schools all through the world. The credits are offered by the International Education Finance Corporation (IEFC) working in conjunction with Bank of America, Fleet Boston, Citizens Bank, and The Education Resources Institute (TERI). Understudies may acquire up to the full cost of training, including educational cost, expenses, and food and lodging. Graduate understudies may obtain a greatest of $15,000 every year without a co-endorser, or up to cost of training with a co-underwriter. The base advance sum is $1,000 every scholarly year. Understudies may take up to 20 years to reimburse the advance. There is a $50 least installment and some postponement procurements. The interest rate is the prime giving rate in addition to 0.5%. College understudies must have a trustworthy Canadian subject as co-underwriter. There is a 8.5% insurance expense for undergrad and graduate understudies with a co-endorser. Graduate understudies can apply without a co-endorser on the off chance that they pay a 7.5% insurance expense at payment and a 2% certification charge at reimbursement which will be financed into the advance. For more data compose InternationalStudentLoan.com, 224 First Street, Neptune Beach, FL 32266, USA or visit International Student Loan, or send email to service@internationalstudentloan.com.


Credila Financial Services offers private schooling advances to understudies from India. Credila is an auxiliary of the Housing Development Finance Corporation (HDFC), the biggest home loan bank in India. The credits offer a variable interest rate with a 10-year reimbursement period. A relative or relative must cosign the credit. The advances are dispensed in Indian Rupees and must be reimbursed in Indian Rupees. The credits must be secured by guarantee, for example, a house, loft/level or non-agrarian area. Far reaching supporting reports are obliged; inability to present all the supporting records may prompt disavowal of the credit or defers in support. For more data, call 1-800-209-3636 in the USA or send email to loan@credila.com

Global Student Loan Corporation (GSLC). GSLC offers student loans for international students that do not require a US citizen or permanent resident to co-sign the loan. (A co-signer in the student's home country may be required. Often this co-signer is the student's parent or guardian.) GSLC works with financial institutions and banks located in the student's home country to provide financing for the student's education. GSLC's President is Dr. Keith Jepsen, formerly the Director of Financial Aid at New York University. Currently more than three dozen schools participate in the GSLC loan program. Their web site also includes an International Student Planner. For more information, visit the GSLC web site, call 1-212-736-9666, fax 1-212-736-6536, send email to info@globalslc.com, or write to Global Student Loan Corporation, 350 Fifth Avenue, Suite 2416, New York, NY 10118 USA.
International Student Loan Program (ISLP) and Study Abroad Loan Progam (SALP). ISLP is an alternative loan program for international students to study at approved US colleges and universities. SALP is an alternative loan program for US citizens to study abroad. The loans offered by InternationalStudentLoan.com are funded by PNC Bank and guaranteed by The Education Resources Institute (TERI). Students may borrow up to the full cost of education, including tuition, fees, and room and board. The minimum loan amount is $1,500 per academic year. Students may take up to 25 years to repay the loan. There is a $25 minimum payment and some deferment provisions. A creditworthy US citizen or permanent resident must co-sign the loan. For more information write InternationalStudentLoan.com, 224 First Street, Neptune Beach, FL 32266, USA or visit International Student Loan, or send email to service@internationalstudentloan.com.

Norwest Bank (1-703-749-0131 or the financial aid department at 1-800-366-6227). These MBA loans are for graduate business and medical students who are international students. For more information write to Norwest Bank/HEMAR Insurance Corp., GMAC, 2400 Broadway Suite 320, Santa Monica, CA 90404-3064.

The Education Resources Institute (TERI) (1-800-255-8374 x210 or 1-617-426-0681). The TERI Professional Education Plan (PEP) loan is available for graduate and professional study. International students can borrow the cost of education up $20,000 per year (cumulative limit of $80,000) with a creditworthy US citizen as cosigner. Their lenders include Citibank (1-800-692-8200 x480), Bank of Boston (PO Box 312, Boston, MA 02117-0312), Baybank (1-800-332-8374 or 1-617-320-2422; PO Box 510, Dedham, MA 02026), and Nellie Mae (1-800-634-9308; 50 Braintree Hill Park, Braintree, MA 02184). Interest rates and fees may vary depending on the lender. For more information, call 1-800-255-TERI (1-800-255-8374), write to The Education Resources Institute (TERI), 330 Stuart Street, Suite 500, Boston, MA 02116-5237, or send email to custserv@teri.org.



When evaluating a loan program, it is important to carefully compare the costs. Some loans have interest rates pegged to the 91-day T-Bill Rate. Others use the Prime Lending Rate, which is approximately two to four percentage points higher.