Can International College Students Apply for Private Student Loans?

It has become popular for enrolled students and those entering college to avail of private student loan programs, especially if all the available financial aid, especially the government student loans have been used up.

What about the international students – do they have the chance of acquiring private college loans for their financial needs? We all know how difficult and stressful the situation already is for an international student, as far as coping and adjusting to the complicated US college life is concerned. What more if the difficult task of financing their college education also becomes a major concern for them.

Therefore, they are also given the opportunity to apply for college loans. They must apply however with someone who can act as a worthy co-borrower. The prospective co-borrower must be eligible, which means he or she must be a US citizen or at least a permanent resident.

It would also help greatly if the prospective private college loan co-borrower is someone who possesses a good or positive credit report. We must be reminded that a good and well-maintained credit history has a beneficial effect on the rate of interest as well as any fee that you need to settle in connection with your private loans.