Student Loans for Studying Overseas

There are several loan options available for students who wish to study overseas. Loans are available for students, whether the students intend to study abroad for a short period of time or pursue their degree from an international institution. In order to be eligible for the most aid, it is important to choose a university that meets specific eligibility requirements.

Grants

In the healthcare field, where there continues to be a shortage, you may be able to obtain grants to help fund your overseas education. In addition, there is a special loan program entitled the Global Health Education Loan Program that is designed specifically for students in health sciences to obtain the needed funding for completing their education overseas.

Loans

To obtain subsidized loans from the federal government, the university must qualify and have an eligible school code. You can view a complete list of foreign country school codes when you complete your Free Application for Federal Student Aid (FAFSA). There are hundreds of eligible schools that you can choose from for both short and long term educational opportunities.

Because subsidized and unsubsidized loans are often not enough to pay for your entire overseas education, you should also consider taking out private student loans. Private student loans provide you with additional funding to help pay for your education. However, the interest on these loans is not subsidized by the U.S. government, and may require monthly payments, so make sure you understand your loan agreement before accepting private loans. You can use private loans to pay for tuition, books, room and board, and even for a new computer to make your studies easier.

Scholarships

Scholarships are often competitive and require you to meet certain criteria, but it can be well worth the time and effort to apply for scholarships for which you meet the criteria. Scholarships provide funding for your education and do not require repayment. They also can offer you prestige and honor that can be helpful as you move through your education. Many scholarships are offered directly from the university you plan to attend, so be sure to discuss opportunities with the financial aid counselor at your target school. There are also general scholarships available through community organizations and corporations to help you meet your financial needs.

The real key to financing your overseas education is to seek out every opportunity. You may have to piece your financing together through a combination of grants, loans, scholarships, and savings, but the experience you will earn will be well worth the effort. Whether you go for a semester, or spend a few years studying in a foreign country, the advantages will be many. More and more people are looking for alternative means to complete their education and that sometimes requires looking beyond the borders of the United States.


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