How can I get a U.S. Student loan for a school in the Philippines?
I'm an American Citizen and I am entering the last year of high school. My counselors and I have already come to the decision that I am going to graduate early, because the school year in the Philippines starts in June, and schools in the U.S. ends their year in June. My family and I are also in a bit of a money struggle and this is one reason for me to study in the Philippines, due to it being cheaper. We have looked into the loans that the U.S. can give to students studying in the Philippines, but the school needs to have a federal code. It's one of the best medical schools there but they have no federal code. How can I still get a loan to be able to pay for the tuition?
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1 :
If the school has no federal code it means that they are not able to accept loans from the American federal government, some schools in other countries can, some can't. This means that you are now limited to private loans. If you do not have good established credit, you will have to get someone with good established credit to co-sign for your loan. I am not sure if all banks will lend for schools abroad, mine does, but it is best to get one from the bank where you are already established.
2 :
No code, no loan. Instead of government sponsored loans, you'll either be dependent on open market loans OR you could work before you go to the Philippines, to have a buffer of money to keep you for the first year. Then you could return to US during vacs and earn again for the next session.
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