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Topic: UK loans to pay for school VS US loans  (Read 1685 times)

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UK loans to pay for school VS US loans
« on: March 04, 2009, 02:14:32 AM »
Hey, Idk if this topic is already on here somewheres, but anyways, does anyone got any advice on which is a better way to pay for your schooling in UK, assuming you stay after school to live and work etc etc..A US loan or a UK loan, I'm kind of leaning towards the UK, do everything on one side of the pond to make it easier..Any help?


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Re: UK loans to pay for school VS US loans
« Reply #1 on: March 04, 2009, 02:21:23 AM »
You won't be able to take out UK student loans to pay for your education there, because you are not a UK resident. You'll need to take out US student loans and pay them back from the UK after you have graduated. Several people here have done this.
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Re: UK loans to pay for school VS US loans
« Reply #2 on: March 04, 2009, 02:23:46 AM »
Would it have to be classified as a student loan, could it just be a "loan" from a UK institution?


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Re: UK loans to pay for school VS US loans
« Reply #3 on: March 04, 2009, 11:36:58 AM »
It will be impossible for you to get a general loan from a UK bank for the amount you will need for your education, as you will have no credit in the UK.
"The only true currency in this bankrupt world is what you share with someone else when you're uncool." - Almost Famous

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Re: UK loans to pay for school VS US loans
« Reply #4 on: March 04, 2009, 11:58:47 AM »
It will be impossible for you to get a general loan from a UK bank for the amount you will need for your education, as you will have no credit in the UK.

Exactly - whatever kind of loan you get to fund your studies, it will have to be a US loan, because as a non-UK resident you will not qualify for any UK loans.


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Re: UK loans to pay for school VS US loans
« Reply #5 on: March 04, 2009, 02:17:02 PM »
Ok, Thanks for all your help..Any ideas then, on which US lender is best for this sorta thing?


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Re: UK loans to pay for school VS US loans
« Reply #6 on: March 04, 2009, 02:34:26 PM »
The US govt will approve Federal loans for some UK universities. That said, it's not generally enough to survive on. There used to be private lenders who supplemented this... but I'm not sure any of them are lending now in this economic mess.
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Re: UK loans to pay for school VS US loans
« Reply #7 on: March 04, 2009, 03:49:46 PM »
First check with the university to see if they can receive US Federal Aid.  Then check with local banks in the US if you can as they tend to be easier at giving supplemental loans, but you can always try CitiBank and any of the other big ones as well.


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