Saturday, 10 March 2018

Sunday, 4 March 2018

There are a handful of companies that grant loans to international students

There are a handful of companies that grant loans to international students and do not require a guarantor, such as MPOWER funding. The company based in the District of Columbia grants loans to undergraduate and graduate students, although most of the lenders are graduate students.
Unlike many other lenders, MPOWER also considers a student’s earning potential, unlike the credit history, in determining whether to approve a loan, says Manu Smadja, CEO, and co-founder.
“We observed dozens of variables,” says Smadja, “from the university is student participation, to SAT or GRE test scores or to GMAT or LSAT, so we can provide a merit-based loan.”

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international studends loan

international studends loan

But not all international students receive a considerable aid package: to meet the requirement, some schools, such as St. Olaf College in Minnesota, offer loans.
“We have a small amount that allows international students to borrow,” says Carly Eichhorst, director of financial aid at the university. “We do not allow them to borrow more than that.”
St. Olaf’s international university students can borrow up to $ 4000 a year. The current interest rate is set at 5% and the repayment period is five years. A co-signer is not necessary, says Eichhorst. A co-signer is someone who agrees to take over the debt if the borrower does not return it.

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