Non-US Citizen, can't get federal loans, what do i do????

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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PapantlaFlyer
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Non-US Citizen, can't get federal loans, what do i do????

Postby PapantlaFlyer » Fri Apr 23, 2010 11:57 am

Hi all,

I'm a non-us cititzen applicant and can't apply for federal loans (or private loans here in the US since i don't have a SS #). I haven't received any merit scholarships so I don't know what I can do. Some schools have loans for international students, but they're usually around $20,000, which doesn't even begin to cover the cost of LS. Any ideas?? If I don't get a loan or receive some type of aid I simply can't afford going...

Thanks for any help or tips.

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remotelyfeasible
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby remotelyfeasible » Fri Apr 23, 2010 12:06 pm

Can you get loans in the country of your citizenship? Can you get a co-signer?

Alternatively, you could just apply to lower-ranked schools, to try to get a full scholarship. From there, less than 20k/year of loans would be sufficient to cover living costs.

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kurla88
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby kurla88 » Fri Apr 23, 2010 12:10 pm

Went through this last year - there really aren't any backdoor options. You either need a US citizen/perm res cosigner to get US loans, or you need a loan from your home country (these tend to be capped way below the astronomical amounts that US law schools charge, unfortunately).

If you don't have merit-based awards this year, I don't know what to tell you... Is it possible for you to reapply again next year aiming a little lower? Your smartest choice is probably going to the best school that gives you a full/almost full ride.

If you're in at Harvard or Chicago, they have no-cosigner international student loans that you might qualify for.

Contact your schools and ask them their advice, though.

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baboon309
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby baboon309 » Fri Apr 23, 2010 1:22 pm

PapantlaFlyer wrote:Hi all,

I'm a non-us cititzen applicant and can't apply for federal loans (or private loans here in the US since i don't have a SS #). I haven't received any merit scholarships so I don't know what I can do. Some schools have loans for international students, but they're usually around $20,000, which doesn't even begin to cover the cost of LS. Any ideas?? If I don't get a loan or receive some type of aid I simply can't afford going...

Thanks for any help or tips.


Why dont you take that 60k job ?

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PapantlaFlyer
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby PapantlaFlyer » Fri Apr 23, 2010 1:37 pm

baboon309 wrote:
PapantlaFlyer wrote:Hi all,

I'm a non-us cititzen applicant and can't apply for federal loans (or private loans here in the US since i don't have a SS #). I haven't received any merit scholarships so I don't know what I can do. Some schools have loans for international students, but they're usually around $20,000, which doesn't even begin to cover the cost of LS. Any ideas?? If I don't get a loan or receive some type of aid I simply can't afford going...

Thanks for any help or tips.


Why dont you take that 60k job ?


It's a long story...but basically the job doesn't fit the criteria for a work visa, so I can't take it.

Getting loans from my home country wouldn't work either, because as someone mentioned, they're capped way below what I would need for LS, at least the ones to where I applied.

How did you work it out Kurla?

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biglll
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby biglll » Fri Apr 23, 2010 10:19 pm

PapantlaFlyer wrote:Hi all,

I'm a non-us cititzen applicant and can't apply for federal loans (or private loans here in the US since i don't have a SS #). I haven't received any merit scholarships so I don't know what I can do. Some schools have loans for international students, but they're usually around $20,000, which doesn't even begin to cover the cost of LS. Any ideas?? If I don't get a loan or receive some type of aid I simply can't afford going...

Thanks for any help or tips.


In the same boat. Got a laughable need-based scholly that covers only a 1/9 of the tuition, looking for a co-signer now. Do you guys think it's worth trying to find one given that I don't have relatives/close friends here? are there any commercial relationships in place--like I pay someone to become a co-signer?

OP, I've heard about a program that helps citizens of some countries get a loan in the country of their residenship or with a co-signer from that country, google "loans for foreign students"

bigben
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby bigben » Fri Apr 23, 2010 10:27 pm

Lucky you. You'll have to go someplace cheap. (Not that 20k/year is all that cheap).

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im_blue
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby im_blue » Fri Apr 23, 2010 11:26 pm

It's tough, but you should have done better research before you applied. The only options for you are to find a co-signer, reapply to lower schools for merit scholarships, or find some special loan programs for foreign citizens.

Banks are unwilling to give loans to non-citizens/permanent residents because they can simply leave the country without paying, and the bank would be SOL. That's why they need a co-signer to be liable for the debt.

creatinganalt
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby creatinganalt » Sat Apr 24, 2010 7:32 am

can your school give institutional loans?

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Bobby Dazzler
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby Bobby Dazzler » Sat Apr 24, 2010 10:24 am

Going to LS this fall as an international, this is what I'm doing:

Loans from home country ~45%
Scholarship from LS ~35%
Savings ~20%

of total cost of attendance.

It can be done without finding a co-signer, though it obviously depends on a lot of factors. Definitely make sure that an American legal education is exactly what you want. By that I mean carefully consider employment prospects from the specific schools and take into account that it will be even tougher for you as an international to secure employment b/c of visa stuff. A JD degree is usually not very marketable outside the U.S. Not trying to be discouraging at all, I'm sure you know all of this already. Best of luck and send me a pm if you have any other questions.

davidr1534
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby davidr1534 » Sun Apr 25, 2010 10:47 am

Out of interest, if you are not a citizen or permanent resident what is the advantage of getting a US JD? Unless you figure you will be able to work here afterwards surely it is spectacularly bad value for money?

Aqualibrium
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby Aqualibrium » Sun Apr 25, 2010 10:59 am

Not really on topic, but you should never ever ever ever cosign for ANYONE!

If you guys are lucky enough to find some sucker to sign his life away for you, I applaud you.

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biglll
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby biglll » Sun Apr 25, 2010 4:46 pm

hombredulce wrote:Not really on topic, but you should never ever ever ever cosign for ANYONE!

If you guys are lucky enough to find some sucker to sign his life away for you, I applaud you.


Do you have a personal experience or just speculate?

davidr1534,

Any advanced degree from a top US school is extremely valuable when working for a US firm abroad. For me it's more a matter of personal preference--I would enjoy studying law, and I am too young for an MBA anyway. If you concentrate in international/comparative law, it could also be useful for finding jobs with the government.

creatinganalt
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby creatinganalt » Sun Apr 25, 2010 5:12 pm

biglll wrote:
hombredulce wrote:Not really on topic, but you should never ever ever ever cosign for ANYONE!

If you guys are lucky enough to find some sucker to sign his life away for you, I applaud you.


Do you have a personal experience or just speculate?

davidr1534,

Any advanced degree from a top US school is extremely valuable when working for a US firm abroad. For me it's more a matter of personal preference--I would enjoy studying law, and I am too young for an MBA anyway. If you concentrate in international/comparative law, it could also be useful for finding jobs with the government.


Really? Wouldn't a non US JD be cheaper and just as helpful?

Aqualibrium
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby Aqualibrium » Sun Apr 25, 2010 6:07 pm

biglll wrote:
hombredulce wrote:Not really on topic, but you should never ever ever ever cosign for ANYONE!

If you guys are lucky enough to find some sucker to sign his life away for you, I applaud you.


Do you have a personal experience or just speculate?




I've seen the cosign situation blow up in so many peoples faces! Imagine making car or house payments for your dead beat brother or a church member etc...,knowing you'll never live in the house or drive the car and you'll never be repaid.

Cosigning for anyone, family/friends/significant other/doesn't matter who, is absolutely the best way to kill a relationship. Recipe for disaster!

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cougarlive
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby cougarlive » Sun Apr 25, 2010 6:17 pm

hombredulce wrote:
biglll wrote:
hombredulce wrote:Not really on topic, but you should never ever ever ever cosign for ANYONE!

If you guys are lucky enough to find some sucker to sign his life away for you, I applaud you.


Do you have a personal experience or just speculate?




I've seen the cosign situation blow up in so many peoples faces! Imagine making car or house payments for your dead beat brother or a church member etc...,knowing you'll never live in the house or drive the car and you'll never be repaid.

Cosigning for anyone, family/friends/significant other/doesn't matter who, is absolutely the best way to kill a relationship. Recipe for disaster!



If you are looking for a specific example, listen to the Dave Ramsey radio show for about a month--you'll find enough examples to NEVER cosign for anyone (or ask anyone to be your cosigner).

However, OP--I sympathize with you. I was almost in the same situation as you. I hope somebody on this board actually gives you advice you can use.

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Fevsi
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby Fevsi » Sun Apr 25, 2010 6:36 pm

hombredulce wrote:Not really on topic, but you should never ever ever ever cosign for ANYONE!

If you guys are lucky enough to find some sucker to sign his life away for you, I applaud you.


This is the attitude that makes it really hard to approach anyone asking to co-sign. I agree that this is quite a responsibility, but on the other hand, co-signing for a T14 law student whose school boasts 99% graduation rates is not necessarily the same risk as co-signing a car loan for your dead-beat church member. Obviously, the risks are significant and real, and advantages nebulous and of philantropic nature. So from a future corporate lawyer's point of view, the above is correct. However, there are some people who like philantropic deeds, and it is potentially acceptable for them if:

1) you are going to law school with high employment %
2) you have a life insurance with them as beneficiaries
3) you have no record of psychological, physical or ethical problems
4) they are not going to take out any credit in the next 10-20 years.

Yes, that's restrictive. So what?

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lostjake
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby lostjake » Sun Apr 25, 2010 6:39 pm

biglll wrote:
hombredulce wrote:Not really on topic, but you should never ever ever ever cosign for ANYONE!

If you guys are lucky enough to find some sucker to sign his life away for you, I applaud you.


Do you have a personal experience or just speculate?

davidr1534,

Any advanced degree from a top US school is extremely valuable when working for a US firm abroad. For me it's more a matter of personal preference--I would enjoy studying law, and I am too young for an MBA anyway. If you concentrate in international/comparative law, it could also be useful for finding jobs with the government.[/quote]

-1 this is bad advice.

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Luis Gomez
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby Luis Gomez » Sun Apr 25, 2010 6:41 pm

Hi Papantla flyer. I am also Mexican, poor an ineligible for federal loans.

Basically, you need to find a scholarship and get some loans for COL.
I have no idea where you are attending, but PM me. I will be going to UIUC this Fall.
Last edited by Luis Gomez on Sun Apr 25, 2010 6:45 pm, edited 1 time in total.

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Mr. Matlock
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby Mr. Matlock » Sun Apr 25, 2010 6:43 pm

Fevsi wrote:
hombredulce wrote:Not really on topic, but you should never ever ever ever cosign for ANYONE!

If you guys are lucky enough to find some sucker to sign his life away for you, I applaud you.


This is the attitude that makes it really hard to approach anyone asking to co-sign. I agree that this is quite a responsibility, but on the other hand, co-signing for a T14 law student whose school boasts 99% graduation rates is not necessarily the same risk as co-signing a car loan for your dead-beat church member. Obviously, the risks are significant and real, and advantages nebulous and of philantropic nature. So from a future corporate lawyer's point of view, the above is correct. However, there are some people who like philantropic deeds, and it is potentially acceptable for them if:

1) you are going to law school with high employment %
2) you have a life insurance with them as beneficiaries
3) you have no record of psychological, physical or ethical problems
4) they are not going to take out any credit in the next 10-20 years.

Yes, that's restrictive. So what?

LMAO!!!! :lol: :lol:

Good luck with that list!!!!!!!!!!!!!!!

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Luis Gomez
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Re: Non-US Citizen, can't get federal loans, what do i do????

Postby Luis Gomez » Sun Apr 25, 2010 6:44 pm

lostjake wrote:
biglll wrote:
hombredulce wrote:Not really on topic, but you should never ever ever ever cosign for ANYONE!

If you guys are lucky enough to find some sucker to sign his life away for you, I applaud you.


Do you have a personal experience or just speculate?

davidr1534,

Any advanced degree from a top US school is extremely valuable when working for a US firm abroad. For me it's more a matter of personal preference--I would enjoy studying law, and I am too young for an MBA anyway. If you concentrate in international/comparative law, it could also be useful for finding jobs with the government.[/quote]

-1 this is bad advice.


I also think it's bad advice.