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Financial issues and international students

Impactful financial issues can come up for any student in relation to studying at a college/university here in the United States. However, there are some special considerations related to financial matters for students from other countries seeking to study here in America.

For one, there can be some overlap in financial issues and immigration issues for such students. This is because among the things the process of seeking out a student visa involves is demonstrating that one is financially able to study in the United States.

Also, international students can face some special challenges when it comes to financial aid. One reason for this is that some sources of student financial aid available to U.S. students, such as federal student loans, are not available to most international students.

Now, this does not mean such students are without aid options. Among the options an international student may have available on this front include:

  • Scholarships, grants and aid provided by the school they are seeking to attend.
  • Scholarships/grants from other organizations.
  • School-provided loans. Some schools make loans available to their international students.
  • Private loans. There are some lenders who offer private student loans to international students. Such lenders vary in the requirements they have and terms they offer when it comes to such loans.

Which such options are available for a given international student and which ones would most help them meet their overall aid goals depends on a variety of factors. So, having the right information regarding financial aid options can be important for an international student as they are looking into studying in the United States. Conducting early and detailed research on this topic could help with this.

Another thing it can be critical for a foreign student to be properly informed on as they are seeking out the opportunity to study at a U.S. college/university are the legal issues related to student visas. How complete and accurate of information a student has on these issues as they navigate the various steps of pursuing and maintaining a student visa, including the step of proving one can afford studying in America, can impact how these steps end up going for the student. Among the things that can help a student with staying well-informed on such issues is having a knowledgeable immigration attorney’s guidance.

Source: U.S. News & World Report, “Explore Loan Options for International Students,” Kelly Mae Ross, June 9, 2017

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