Acquiring a Private Graduate Student Loan for an Overseas Education

Acquiring a graduate private student loan from a bank or lender in order to finance your education overseas is available through many sources. The acquisition of a private loan for the purpose of funding overseas education is just one of the ways that a loan can be used by a borrower.

Using a private source for funds provides borrowers with more flexibility and choice over the terms and conditions of the loan. Although there are public or federal sources available for student loans that finance overseas graduate studies (such as Stafford and Graduate PLUS loans), these sources have more restrictions and may not be as flexible as private graduate student loan sources.

You can look to private lenders such as banks and lenders who specialize in student loans, overseas banks in the country that you are going to pursue your studies or request funding from an educational foundation that specializes in an area of interest in the country you are going, in order to acquire a private graduate student loan for an overseas education.

Loans from Private Lenders

Private lenders seem to be the easiest choice to secure a loan to fund graduate studies outside of the United States. Banks and other specialty lenders that have relationships with overseas companies have a good understanding of the nature the economics in other countries and have no concerns doing business with you in order to help you secure the necessary education funding.

Loans from Overseas Lenders

In addition to domestic banks and lenders, institutions overseas that are domiciled in the country where you choose to study may offer programs for you to borrow or acquire funding for your graduate school studies. Many of these institutions maintain branch offices here in the United States and can provide you with the myriad of programs available to assist foreign students who chose to study in their country.

Loans from Educational Foundations

There are educational foundations and other organizations that specialize in offering loans to U.S. students who desire to pursue their graduate studies in another country. These organizations can be found online and may require certain documentation, such as a letter of admissions, as proof of your intent to study abroad. These programs can provide a loan package that is competitive with the offers made by banks and private lenders since their focus is more specific to meeting the needs of graduate students studying abroad.

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