To be eligible for a loan, students must maintain at least half-time enrollment in a degree granting programme and maintain satisfactory academic progress throughout the course.
The primary loan available to students is the Federal Direct Stafford Loan.
Subsidized Stafford Loan – With a subsidized Stafford loan, the US government pays interest on the loan until you graduate from University.
Unsubsidized Stafford Loan – With An unsubsidized Stafford Loan, the interest on the loan will begin to accrue immediately after disbursal.
Other types of loan are also available such a PLUS and GradPLUS loans.
Federal Parent Loans for Undergraduate Students (PLUS) are loans available to parents of dependent students. Graduate PLUS loans are available to independent graduate students. Unlike Stafford Loans for students, the PLUS/GradPLUS loans are not guaranteed. Credit check will commence upon receipt of the Loan Application and Promissory Note. The PLUS/GradPLUS programme allows parents and graduate students to borrow funds up to the cost of attendance, after reductions have been made based upon any financial aid received.
Private Loans
The only private loan currently available to U.S. students at foreign schools is the Smart Loan from Sallie Mae.
Private lenders will offer top-up support, and are not connected to the US government. This option is available to all students, although some students may require a co-signer. Loans are based upon credit history and rates will vary.
The primary loan available to students is the Federal Direct Stafford Loan.
Subsidized Stafford Loan – With a subsidized Stafford loan, the US government pays interest on the loan until you graduate from University.
Unsubsidized Stafford Loan – With An unsubsidized Stafford Loan, the interest on the loan will begin to accrue immediately after disbursal.
Other types of loan are also available such a PLUS and GradPLUS loans.
Federal Parent Loans for Undergraduate Students (PLUS) are loans available to parents of dependent students. Graduate PLUS loans are available to independent graduate students. Unlike Stafford Loans for students, the PLUS/GradPLUS loans are not guaranteed. Credit check will commence upon receipt of the Loan Application and Promissory Note. The PLUS/GradPLUS programme allows parents and graduate students to borrow funds up to the cost of attendance, after reductions have been made based upon any financial aid received.
Private Loans
The only private loan currently available to U.S. students at foreign schools is the Smart Loan from Sallie Mae.
Private lenders will offer top-up support, and are not connected to the US government. This option is available to all students, although some students may require a co-signer. Loans are based upon credit history and rates will vary.
