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Tips on how to apply for a U.S. student loan

As an educational powerhouse, the United States is the first choice for international students. The cost of studying in the United States is also very high, and applying for a student loan can also reduce the pressure of international students.

I. Application requirements
Independent borrowers must be at least 18 years old, have a permanent home address and stable family income, provide proof of parents’ income and flowing water to ensure the ability to repay the loan, and of course, need to show proof of the relationship between the two parties. A copy of the paper admission certificate issued by the school, a valid passport that has been issued, a medical certificate of health, and any other requirements that the institution offering the loan needs the student to meet, need to be consulted before they can be determined.

Loan amount
In principle, the amount that international students can apply for cannot exceed 80% of their total annual expenses. According to the official survey, the average annual expenses of studying in the U.S. are about 80,000, so the amount you can borrow each year cannot exceed 60,000 .

The above is the amount you can borrow, you also need to determine the specific amount according to your actual situation, you can estimate the intention to graduate and the salary situation after graduation, and determine the final amount according to your ability to repay.
Three loan time
There is a limit to the length of time you can apply for a loan, usually 1-6 years, and most students will choose a loan that lasts about the same length of time as their studies, so that you don’t have to worry about your expenses during your studies, but at most not more than 10 years.

Loan method
You can apply for a loan directly from a bank in the U.S. There are no identity requirements, but you need to find a local person to be your guarantor for the loan, and the interest rate is low, but you cannot repay the loan early, and there is no grace period for repayment. The student loan is more suitable for international students, this method does not require a guarantor, as long as you provide all the documents, you can get the loan, the interest rate is between 7.99%-13.99%, you can repay early, also can apply for a grace period for repayment.

Ways to save money by studying in the United States

1, consider the academic system Although some schools are very expensive, but their academic system is a year, this time to consider tuition fees can not only consider the horizontal, but also to consider the total cost of the entire study period, for the school with a short academic system, tuition is a little more expensive is still slightly acceptable, after all, the average down to not so much.
2, reasonable selection of accommodation The cost of accommodation when studying abroad is also a major problem, in foreign universities, the general dormitory is to apply for, while the cost will also be more expensive than in the off-campus, so if students want to save money, or look for a house near the school, and friends to share a room, which can save some of the trouble of roommate discord, and can save a fortune. But we should also note that we must leave time to see the house in advance, do not wait for the start of the school now looking, then many good houses will be booked away, and the price will also rise.
3、Cooking for yourself One of the most important skills you need to learn is cooking, after all, we grew up eating Chinese food, if you don’t do it yourself and always go out to eat Chinese food, the cost of living will skyrocket, and it will also increase our chances of gaining weight. According to the cloud learning education group, so be sure to learn a few basic dishes, regularly go to the supermarket to purchase some dishes back to do it yourself, healthy and save money.
4, pay attention to discount information Since we want to save money, we must consciously pay attention to discount information, supermarkets, shopping malls discount is the most important thing to pay attention to, supermarkets sometimes have a big discount, then you can hoard some at home, slowly eat / use.

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