Personal Finance

Student LOC no co-signer, international school?

  • Last Updated:
  • May 13th, 2014 7:27 pm
Tags:
None
Member
May 31, 2010
405 posts
22 upvotes

Student LOC no co-signer, international school?

Hello guys,

Do you guys know of any option for students who are going to USA schools for undergrad/graduate school, but doesn't need a co-signer?
I might be taking a BA/MA program so not sure how they would consider that.
6 replies
Member
May 31, 2010
405 posts
22 upvotes
nobody? Come on you guys are smart.
Sr. Member
Dec 16, 2004
860 posts
169 upvotes
Toronto
Short answer - I don't think you'll be able to do it. Banks generally aren't too keen on lending people money that they know will be residing in another country without any security or co-signor.
Member
May 31, 2010
405 posts
22 upvotes
dishguy1977 wrote: Short answer - I don't think you'll be able to do it. Banks generally aren't too keen on lending people money that they know will be residing in another country without any security or co-signor.
I can see the concern in some sense. But as I'm not an American citizen, and I will only have a student visa, I don't see how I could stay there past my study point.

I'm trying to see if I can get a LOC from RBC America.
Deal Expert
User avatar
Oct 26, 2003
39343 posts
6343 upvotes
Winnipeg
i believe you can take student loan for foreign school, although the tuition in the states is much higher than Canada so you might need additional loan, I don't believe American bank will lend foreign national money, even a bank account would be difficult. op find out and let us know.
Member
May 31, 2010
405 posts
22 upvotes
I can get OSAP which would cover half the tuition. I'm going to a public College so the tuition is not that bad (about 13k/year) for graduate studies. Unfortunatley OSAP does not give more then $210/week for a USA or foreign-based school. (since there is no provincial portion doesn't for foreign schools)
divx wrote: i believe you can take student loan for foreign school, although the tuition in the states is much higher than Canada so you might need additional loan, I don't believe American bank will lend foreign national money, even a bank account would be difficult. op find out and let us know.
Deal Expert
User avatar
Oct 26, 2003
39343 posts
6343 upvotes
Winnipeg
^some of my classmates went to MIT for graduate school, never bothered asking how they worked out their finances, I think MIT cost 20k per year in tuition, I thought about MIT as well but give up due to financial considerations

Top