UNDERSTANDING 'STUDENTS LOAN' FOR INTERNATIONAL STUDENTS.

 

International Student Loans are specialized private or public education loans that are available for international students who are studying abroad. International students benefit from several forms of financial aid, including grants, scholarships, and assistantships.

Unlike a loan, grants, scholarships, and assistantships do not require recipients to repay awards.

When you apply for a loan, the interest rate is one of the most important factors to consider. The lower the interest rates are, the less money it will cost in total over time. However, this does not mean that every low-interest loan is a good choice or vice versa. Interest rates can vary greatly between lenders and loans; depending on your situation there may be better options available than others.

 

Here are 4 things you need to know before you sign a loan agreement as an international student:

1.) APR: The Annual Percentage Rate, or APR as it is more commonly referred to, is a rate that measures the cost of borrowing money. The amount includes the interest that you will pay on your loan and other fees associated with it. An APR lets you compare different loans against each other so that you can make an educated choice.

2.) Variable Interest Rate: A variable rate is a type of interest that changes over time based on the market and other economic factors. This means if interest rates go up, so does the amount you pay back in monthly payments.

3.) Fixed Interest Rate: A fixed interest rate may differ from borrower to borrower based on their credit score and other factors, but it remains constant throughout the life of the loan. Fixed Interest Rates provide borrowers with stability in regards to how much their monthly repayments will be.

4.) Does it require a CoSigner or not: A cosigner is a person who is legally-bound on a loan application to pay the outstanding debt in case the applicant is unable to pay.

 

When you must have considered this factors and compared between loans, you can go ahead and sign that document.

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With Vantage Migration, loan as a source of fund for studying HAS NEVER BEEN an option to our clients. This is because, we expose them to various scholarship opportunities in different schools around the world.

This is why you need to attend our FREE webinar.

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