Help!! International Student...
Hey guys,
I'm due to start my MSF at Vanderbilt and am stuck.
I dont have enough money to begin my degree and really need to take out a loan. The problem is I'm an international student.
I know there are plenty of people on this board that are international students so I was hoping someone can help me out. I'm from Australia. I would take out a loan back home but the rates are massive and the exchange rate is not great.
All the banks I have seen require a co-signer but I dont have anyone in the US to act as a co-signer and I dont want to lose this opportunity.
Please guys help me! PM with suggestions or anything that may help or post here if thats OK with you.
Thanks
Don't know what to say bud, wish I had the slightest idea. I was fortunate enough to have my parents pay for college. I would get in touch with your international student advisor at Vandi and ask for his/her advice. Otherwise what you maybe could do is get a creditworthiness letter from your bank back home, use it in the US to open an account and then see if you could take out a loan. With no credit history it's going to be tough I imagine... Start at your school, I'm sure there's people that can give you some good advice. Best of luck
The school should have ties with some banks that lend to international students. Vandy has had a pretty good MBA program for a while now and I am sure there are international kids there in your situation.
Yeah, the problem I think would be that they would only lend to international students with a co-signer. I dont have one.
Dude, I am an international student and went to undergrad and grad school (MS/MFIN) here in the US. Neither of my schools required a third party co-signer. You need to talk to the financial aid office and figure out which banks they have relationships with. Usually most schools have ties with atleast one bank which lends to international students with the school serving as the co-signer.
Anyone know of a bank that may lend to an international student without a co-signee? I know perhaps last year this would be near impossible due to the economic issues but for the most part, there is an upswing so maybe they rethink their policies.
Any help would be massively appreciated. I know Duke MMS ahve an arrangement lend to international students so banks are definitely out there. Where I can look?
Come on guys. Someone on here must have had a similar situation.
Your situation sucks, it just sucks, I hope It all works out.
Wow. I'm sorry. Not sure what to tell you, hopefully it all works out.
Be sure to check with the university if they're willing to help with a loan. Some programs offer the facility.
Sorry cant be more help :)
Currently, only the Top 15 Business Schools have this arrangement where they would provide loans with no co-signor. Previously, almost all the Top 30 Business schools used to provide no-cosigner loans to the MBA students. But with the recession, the risk of default is too high, so many of them stopped providing these no-cosigner loans.
Did Vandy not require proof of your ability to pay before you were admitted? Legally they can't issue you the immigration documents without that. Or did you get your parents to provide proof and now you're looking to pay your own way?
Hopefully the school can help you out. I don't know of any banks here that will loan to internationals w/o a US co-signer and I knew a lot of intl students in university.
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