International Student Loans 15

International Student Loans 15



A lot of​ us may not realize it,​ but international student loans are what help the​ vast majority of​ students in​ our universities secure a​ first world education .​
Most of​ us labor under the​ mistaken belief that a​ lot of​ the​ international students on​ our campuses are from well off or​ even wealthy families .​
But this is​ not the​ case .​
In fact,​ if​ one were to​ examine the​ countries that they come from,​ the​ startling revelation would be that almost all of​ them come from developing economies .​
While it​ is​ true that a​ relatively small number of​ them might be self-financed and consequently from wealthy families,​ the​ vast majority are able to​ study in​ our universities only because of​ what has come to​ be known as​ international student loans.
As the​ name itself reveals,​ international student loans are monetary assistance provided by banks and other financial institutions that enable students from one country to​ go abroad to​ further their education .​
For all practical purposes,​ international student loans are very similar to​ other kinds of​ loans .​
Students who want to​ apply for international student loans need to​ first and foremost secure admissions or​ at​ the​ very least have an​ offer of​ admission from a​ university of​ their choice .​
Normally,​ the​ more reputed the​ university and the​ more in​ demand it​ is,​ the​ easier it​ will prove to​ get international student loans .​
But a​ whole lot more also depends on​ the​ background of​ the​ student,​ the​ kind of​ course selected and even the​ career potential for someone who successfully completes such courses.
Why are all these things important? Well,​ one reason could be that the​ student,​ whenever he or​ she applies for the​ international student loans,​ is​ not in​ a​ position to​ earn anything .​
Consequently,​ they will be unable to​ begin repaying the​ loan unless and until they get out of​ college and into a​ job that starts paying them back .​
Which is​ why typical international student loans start the​ repayment terms a​ couple of​ years after they are issued .​
Could any commercial loan serve as​ international student loans? Sure,​ but then why would someone pay a​ higher rate of​ interest for a​ commercial loan and use it​ as​ a​ student loan when the​ same amount of​ money is​ available without any collateral,​ at​ a​ much more subsidized rate and offers a​ staggered repayment term? International student loans sure make sense when seen from such a​ perspective.




You Might Also Like:




No comments:

Powered by Blogger.