Additionally, according to the U.S. Department of Education, a student must be a US citizen or an eligible non-citizen to obtain Federal Financial Aid. An eligible non-citizen is one who has an I-151, I-551, or I-551C Alien Registration card. Students are also considered eligible non-citizens if they are on any of the following statuses: refugee, asylum granted, indefinite parole, humanitarian parole, Cuban-Haitian entrant, status pending, or a conditional entrant issued before April 1, 1980. Citizens of the Federated States of Micronesia, the Republic of the Marshall Islands, and the Republic of Palau are also eligible non-citizens.
Source: U.S. Department of Education Information for Financial Aid Professionals Library
International students that do not qualify for Financial Aid have the option of seeking employer reimbursement, applying for a private credit-based loan, or potentially making cash payments to their university.
Employer Reimbursement
Many employers provide educational assistance as a benefit to help advance the skills and educational level of their employees. Your Financial Advisor can guide and assist you in exploring this option to fund your education.
Private Loans
There are several types of private loans available for International Students.
For alternative loans, International students are eligible for the following:
Teri Loan
No U.S. Co-Signer Required (Canadian Students Only)
1-800-255-8374
Comprehensive Access Loan
International Students
1-800-282-1550
Citibank CitiAssist loan
U.S. Co-Signer Required
CitiAssist® Loans are available to full and part-time undergraduate students attending accredited four or five year universities or colleges and full and part-time graduate students attending accredited graduate schools. Undergraduate and graduate students who qualify as creditworthy individuals do not need a cosigner. International students must apply with a creditworthy individual who is a U.S. Citizen or permanent resident and has a permanent U.S. address. Please visit the Citibank website for additional information.
Source: Citibank Website.
Sallie Mae Signature loans with a U.S. Co-Signer
International students and those students with no credit or an insufficient credit history will need to apply with a credit-worthy co-borrower. It is to your advantage to apply with a co-borrower because your co-borrower's credit determines the lender’s interest rate and fees. After you've made 24 consecutive on-time scheduled payments of principal and interest, you may apply to have your co-borrower released (Student borrowers must meet applicable credit requirements at that time). Co-borrowers must be US citizens or permanent residents, and provide proof of all sources of income. Please visit the Salliemae website for additional information.
Source: Sallie Mae Website
Cash Payment Plan
Payment plans are typically available to help students fund their education. At times, in-school payment plans are even interest free. If you are accepted to a university, a Financial Aid Specialist can assist you in setting up a personal payment plan.
