Important Student Loan Information for US Canada & International Students

There is a lot of information for US students studying abroad, and international students studying in the US and seeking loans. According to the information here, more than 260,000 US students  670, 000 international students came to the USA to study in US universities and colleges, a record number; and over 260,000 US students studied abroad in 2009.

A lot of financial commitment is needed for US students seeking to study abroad due to added expenses like travel, accommodation, vaccinations and materials. 

For international students studying in the US, the website is a gem that helps them navigate their way through all the infinite information available in the internet about loans.

Visit the website if you are an international student, a US/Canadian student studying in your home country or abroad.

  1. What next after you have defaulted on your student loan?

You have graduated, left school, or dropped below half-time enrollment yet you took a loan to see you through education.  You have either 6 or 9 months before your repayments begin.  What happens when you default on your loan because due to some unavoidable circumstance, you are not ready?

This website will give you detailed information on what the consequences of long term default of the loans can lead to.

It also provides details of several repayment options and programs that can assist to remove the student loan from its defaulted status. Federal Student Aid Website

  1. Several students’ loans?  Why not try student debt loan consolidation?

Like many other millions of students, you were not eligible for funding from the central government. To ease the burden of your higher education fees, you took private students loans.  If you have several of these loans, loan consolidation or combining all the loans to one and negotiating a repayment rate. The benefits of loan consolidationinclude reduced monthly payments, extended repayment periods and lower interest rates by up to 50%.  The financial pressure of loan repayment is reduced.
These websites of several tips on student debt consolidation, the pros and cons of loan consolidation  and what to look for when you are searching for a provider of loan consolidation

Wikipedia information


You probably have gone to the Wikipedia website and found loads of helpful information on Student loans in the US


The article gives lots of details about


1.      Federal Loans to Students; these come in 2 forms, subsidized or unsubsidized by the federal government. They are disbursed directly to the schools.  They are guaranteed by the US department of Education directly or through guaranty agencies. Repayments are due 6 months after graduation.

2.      Stafford loans- These loans have an aggregate limit ($23,000 in subsidized and $34, 500 in unsubsidized)

3.      Federal students loans to parents (PLUS).  Parents can borrow the loan to finance their kid’s education. Payments begin immediately and parents have the sole responsibility of repaying the loan. Under new legislation, graduate students are eligible to receive loans  like the parents


More information about PLUS loans

4.      Debt levels: This varies as federal policies change. However 8% of total monthly income after graduation is used more as indicator than a rule


5.      Private student loans- These loans are not guaranteed by a government agency. They are provided by banks or finance companies. Some of them offer longer grace periods some as high as 12 months, loan consolidation options.


6.      Private student loans types include

1.      School-channel loans; certified by schools

2.      Direct-to-consumer private loans are not certified by the school but to the individuals


7.      Private loan consolidation: the article is very detailed on the what to look gives details on



Links to assist you further

·         Loan information for International Students


Popular Online Student Loan Tools 

·                       Calculate the monthly payment for your student loan.
·                       Take our Postpone Payments Eligibility Quiz.
·                       See how consolidating your loans can affect your monthly payments.
·                       Repayment plans and Calculators from Federal Student Aid

After the passage of the bankruptcy reform bill of 2005, student loans are not wiped clean during bankruptcy. This provided a risk free loan for the lender, but interest rates remained high, averaging 7% a year.

In 2007, the Attorney General of New York State, Andrew Cuomo, led investigation into lending practices and anti-competitive relationships between student lenders and universities. Specifically, many universities steered student borrowers to "preferred lenders" which resulted in those borrowers incurring higher interest rates. Some of these "preferred lenders" allegedly rewarded university financial aid staff with "kick backs." This has led to changes in lending policy at many major American universities. Many universities have also rebated millions of dollars in fees back to affected borrowers.

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About Me

10 years experience enhancing donor-funded partner organizations’ capacities in strategic planning, financial, administrative, organizational and programming management. Skilled in donor partner organizational assessments and partner capacity building. A 10 years experience in managing development donor-funded projects in the thematic areas of poverty-reduction, governance and democracy, conflict transformation and integration of Gender, Justice and Peace issues into mainstream programs (HIV/AIDS, Agriculture, Water and Sanitation, Emergency)

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