- Tuition & Fees
- Room & Board
- Books & Supplies
- Health Insurance
- Travel Expenses
Foreign enrolled loans require the borrower to be a US citizen or permanent resident that is enrolled directly in an eligible institution outside the US. However, there might be additional requirements including those around credit history; every lender will have varying requirements on who is eligible to apply for a foreign enrolled loan during their international education. The most accurate way to know if you’re eligible to apply is to first find a lender
Universities in many different countries are on the list for eligible foreign enrolled students to apply for a private student loan to study internationally. Schools must be approved by the US Department of Education to offer private international student loans. We have helped make the process of finding a lender easy for students with our loan search tool. See if the school you plan to attend outside the US is on the list by entering your basic information including the school name; a list of available lenders will then appear for you to explore. If your international school is not on the list, unfortunately we do not have a foreign enrolled loan available for that institution. If you contact the school directly they may have additional financial aid solutions for you.
Federal Foreign Enrolled Loans
Keep in mind that although private foreign enrolled loans can help when federal aid isn’t available, the first stop for any US student, whether studying in the US or around the globe, is to complete the Free Application for Federal Student Aid _(_FAFSA). FAFSA allows American students to see what federal funding options are available to them from the US government. Schools must be accredited by an agency recognized by the US Secretary of Education and approved to participate in the US federal student loan and aid programs. Students studying outside of the US will not be eligible for grants like the Pell Grant, however, they may be eligible for federal loans including:
- Direct Stafford Loan (subsidized and unsubsidized)
- Parent PLUS
- Graduate PLUS
US federal loans are offered at a low interest rate and should be considered as a first loan choice after all scholarship options have been utilized. The maximum annual borrowed amount for federal aid will be based on a number of factors including your total cost of attendance, grade level, status as a dependent or independent student, and your status as an undergraduate or a graduate student; for undergraduate students the range is typically between $5,500 and $12,500 annually, for graduate students typically up to $20,500 annually. Students who still need funds after federal loan options have been explored often turn to foreign enrolled loans through a private lender to fill the gap.