International Student Loan Tips

• Be conservative when filling out the application, as they determine how much you need based on a formula (but don’t lie!).
• Read the fine print, and make noted of all the important terms and details. For example, they may start charging you interest unless you provide them with written notice that you are still in school every semester!
• Create a budget – stick to it. If you work over the summers and maybe even part-time during the year, your student loan amounts should be within reason. However, rising costs of tuition and living expenses are forcing more and more students into debt. But in the end, it is definitely worth it, because you will have the most valuable asset to show for it: a degree
• Stay in contact with your student loan representative at your bank to keep them informed of your situation after you graduate – that way they will be more sympathetic if you need special consideration
• Get all the costs and other details before you decide.Shop around for the best loan rates and fees
• Have proof of what you were promised. Get the agreement in writing or in an electronic form that you can use to document the deal of the loan
• Don’t be afraid of debt – but treat it responsibly or your life will be miserable
• Don’t pay upfront. Legitimate lenders don’t usually ask for a fee upfront. If there is an application or processing fee, it should be very small – not the hundreds or even thousands of dollars that con artists request.
• Do business with licensed companies. Ask banking or finance department of that country about the licensing requirements for lenders and loan brokers, and find out if the company has complied