Apply for International Student Loans

International student loans are available at competitive interest rates for education in the US and Canada. There is no application fees or out-of-pocket fees you need to pay when applying for International student loans. All you have to do is fill an online loan application and you will receive funds within 5 working days after submitting the complete online loan application. Students can actually find out within 15 minutes if they qualify for the preliminary approval or not.

The best place to start enquiring about student loans for studying in the US is TERI, short for The Education Resources Institute, which is one of the most experienced and largest nonprofit sponsors of private loans for education.

Another big source of obtaining educational loans is internationalstudentloan.com. From here, Graduate students can get educational loans up to $40,000 (Rs. 15.7 lakhs) a year. The aggregate maximum borrowing limit is $130,000 (Rs. 51 lakhs), and the minimum loan amount is $1,500 (Rs. 60,000).

Prospective students can go online and apply for loans. The information typically required includes:

• Credit Agreement
• Proof of Income
• Signature Verification
• Residency Verification

Remember that all Indian residents who apply for educational loans need to have a co-signer who is based in the US and has satisfactory credit, residence and employment history.

But before you start applying for international educational loans, it will be prudent to familiarize yourself with what the online application forms will ask for. It will be good if you can review the questions listed below and make sure you're prepared with answers about yourself or your co-signer. If you do that, you can get your preliminary approval in a very short time. If not, you may have to wait longer and stand the risk of having your loan application rejected.