Universities Overseas Offer U.S. Federal Student Loans
Interested in studying an MBA at INSEAD in France, Dan Hauber applied and was surprised to learn that federal student loans could cover their costs abroad."I had no idea, really," said Hauber, who now runs a mattress company based in New York City. "I have a handful of INSEAD emails with a few credit options, including a link to the Department of Education website."As in the process of applying for financial aid at a US school. Hauber completed the free application for federal student aid in order to obtain federally guaranteed loans for the French-based MBA program.The 36-year-old now received his financial aid package from the INSEAD admission department - received $ 20,500 in Stafford loans and PLUS $ 80,000 loans in the 12-month program in 2010-2011. The current teaching in the French center costs 73,500 euros, 80,000 dollars.[To know how to calculate the cost of acquiring a degree abroad.Of the three types of federal financial aid programs available - loans, grants or study and work - only part of the loan is from international colleges, find experts in financial aid. The loan may come in the form of subsidized loans or unsubsidized or PLUS Stafford loans.The list of international schools to grow in the Ministry of Education's federal student loan program continues, as more Americans are seeking full degrees in both pre and postgraduate abroad, says Rajika Bhandari, deputy vice president for research And evaluation at the Institute of International Education, a nonprofit New York organization that promotes international education.Bhandari says that while most US students studying for a degree abroad are students, there is growing interest among American students pursuing a bachelor's degree abroad - usually in English-speaking countries, Like Canada and the United Kingdom.Read how college costs US students go to British universities.
"The US Department of Education offers certain institutions abroad as credible where they see American students to study and earn a college degree," says IIE researchers.According to the latest Department of Education data, 400 foreign universities in 38 countries are categorized as "eligible" for the distribution of listed federal student loans. More than half of those classified as eligible schools are in the United States from Canada, the second largest number of schools with 79 institutions."There's a long list, and I've seen it grow in recent years. There are collecting as many colleges," says Kristen Luna, founder of Moon Preparatory based in Atlanta, a company that prospective students and their Families with the admission process to the university.Other institutions around the world are participating in the US-loan program, such as the University of Copenhagen in Denmark, the University of Haifa in Israel and the University of Cape Town in South Africa - to name just a few.[Watch the video to see the steps in the UK's Universities application]."In Germany I with WHU - worked Otto School Beisheim - it is a small private university and I have a student led there and get help," said Luna, who adds that students to countries other than the UK or Canada consider that Offers English programs.When students study abroad, it is the process that federal student loans are the same as if they study in the US, says Luna."Whether it's a US-school or international college, it goes through the same process - the funds go directly to the school's bank account," said the founder of Moon Prep. "It's anywhere from $ 5,500 to $ 20,000 and it adds to parent PLUS loans for subsidized and unsubsidized loans."Moons of experience counseling students going abroad for a bachelor's degree, it is said that the process seems more "smooth and smooth" in Germany and the United Kingdom The Atlanta-based college adviser says it is important for undergraduates seeking to fill out the FAFSA, no matter where they are planning to go.Financial aid experts advise students interested in conducting a study abroad for the federal student to evaluate the Federal Student Aid website first for the list of international schools that partner loan program. The list is updated periodically, according to government officials."From the application of the parade loan and everything else, it's much harder to do everything in a different country," says Hauber, an INSEAD graduate. "The process is a bit complicated, but in the long run, it's worth it."
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