Conditions and preparation of documents for U.S. study loans
I. Application conditions for student loans in the United States
If you want to apply for a student loan to study in the United States, you need to have the following application conditions.
1、The applicant is between 18-55 years old and has independent civil capacity.
2、Provide a valid personal identity document and proof of household registration.
3、Possessing a certain source of income or a second source of repayment.
4、Provide additional proof of financial resources, or provide a guarantee.
5、Good personal credit, no record of illegal and disorderly behavior, and good will to repay the loan.
6、Provide documents related to studying in the U.S., such as the acceptance letter or letter of acceptance from the U.S. school, as well as the documents issued by the school of study to prove the tuition and fees required during the study period.
Preparation of documents for study in the U.S.
The documents required for the U.S. study loan are as follows.
1. the original ID card, marriage certificate, family register and other valid residence documents of the individual borrower and spouse.
2. valid identification of the borrower’s education, providing the original passport and visa of the educated person and a copy for filing.
3. proof of the guardianship relationship between the borrower and the educated person and the birth certificate of the educated person provided by the borrower.
4. the Letter of Acceptance from the school attended, and supporting information of the total amount of tuition and fees required during the period of attendance.
5、If the U.S. study loan is secured or pledged by property, a list of collateral and pledges and a signed consent to mortgage or pledge or statement with the right to dispose should be provided.
6、Original and copy of personal savings passbook or credit card opened by the borrower in the lending bank.
Precautions for paying fees for studying in the United States
1. Familiarize yourself with the payment items in the school’s notice
First of all, before paying fees to the U.S. school, the school will issue a clear notice, including the amount of fees, payment methods, payment deadlines, and penalties for non-compliance. Some schools will give students a list of fees and charges, with a clear list of the amounts to be paid. Of course, the form of notification may not be limited to one, some will be published on the school, or may be indicated on the relevant documents, or you may be notified through the school’s official email (you should pay attention to all the official and unofficial, official and unofficial school requirements, regulations, etc. in the email, if there are any problems, you must communicate in time to confirm. (You should also always check your emails).
Second, almost all U.S. high schools and some undergraduate graduate students, the school will require a wire transfer to the specified account before the specified deadline. Again, read the agreement contract in detail, which has requirements such as refunds. Tuition is generally non-refundable, and some schools may refund it for a period of time after classes begin, but not once that time has passed. If the student is expelled from the school for his or her own reasons or withdraws midway through the course, the tuition is also non-refundable.
2、Check whether there is a difference in the amount of school fees on the I20
For undergraduate and graduate students, there is not much difference between the fees and the I20, and the difference is mainly in the number of courses taken and the allocation of specific dormitories.
For language students, we need to remind you that when you get your I20, the school has already decided how long you need to study the language, but there are cases where you may meet the school’s language requirements in advance and not have to study the language for so long.
(1) Whether you have to pay the time and fees on your I20, and whether you can get a refund for the extra tuition paid if you reach the language requirement early.
(2) whether it is possible to pay by semester, if so, be sure to ask clearly, register for the next semester payment as of the time and amount, so as not to miss the registration of the next semester of language, by then after reading the first phase of language, it will not be able to enter the second semester of study, even if the previously issued I20 is a one-year form, at this time will be canceled, the student will have to return to the country or apply to other schools.