International Student Loan Programs – Sallie Mae vs Citibank vs Chase
Introduction
Nowadays the International education is booming everywhere. In the last year more than 670,000 international students came to the United States to study in US universities and colleges. But studying abroad is not a small deal.
It requires more financial assistance for the extra expenses for the education like accommodation, travelling and study materials. This makes a greater financial commitment.
The International Student loan is provided for the student to help them financially.
Before applying for the International student loan, the candidate can thoroughly check more websites for more details about the loan. This is an alternate way for the study fund options.
SLM Corporation
The SLM Corporation is called as the Sallie Mae which is publicly traded in U.S. The operations of the Sallie Mae are originating, servicing and collecting on the student education loans.
This is one of the best lenders in the country. In the year 2007 the total loan volume of the Sallie Mae is reported as $7.915 billion that includes the Sallie Mae internal brands.
This serves international colleges and universities to provide financial solutions for students pursuing a higher education at institutions in abroad.
If he or she is a U.S. student needing a loan to study abroad or an international student seeking a loan for a U.S. university, then they can visit their web site or also contact them through the phone.
Citibank International Loan
The Citibank provides the CitiAssist loans for the students who study abroad. The student borrowers can apply for the international loan online.
The interest rates and the fees are charged on the basis of the credit scores of the applicants in the Citibank and some other factors. One can apply for the International study loan on their own.
If the borrower does not have a credit history then he or she can apply with a co-signer who is having the approved credit history.
This may help to increase the candidate’s change of getting financial aid with the lower interest rates. The candidate must be an U.S. citizen or a permanent resident of United States.
The debit payment of the Citibank provides 0.25% reduction in the interest rate during the repayment of the loan.
These loans are originated by the Citibank and assigned to The Student Loan Corporation.
Chase International Loan
The Chase International Student Loan is a credit based private student loan. This needs be certified by the financial aid of the candidate’s school.
The annual maximum limit for borrowing can be up to the annual cost of attendance but not more than the amount certified by the candidate’s school. The minimum loan amount is $500.
The chase loans need to be certified because they want to know whether they are receiving the loan responsibly.
The candidate should be enrolled in a degree or certificate course at a Chase-participating school. He or She should be a U.S. citizen or permanent citizen of U.S. The minimum age of the applicant should be 18 years.
