Student loans, whether you get them from a bank or the government you still have to pay interest. Anyways i’m just wondering about the alternatives are there any where you dont have compromise on the interest issue???
there are no alternatives that i can think of - if you are foregin student living in the U.S. by youself - and no one is supporting you - boy i wish you good luck...you can't even have enough income(20 hrs of work per week).
you skip a semester and INS agents will be looking for you - INS is really coming hard on foregin students...so i would advice to pay the interest on loans and keep yourself registered at school - it's a tough road but there's always a light after you pass dark tunnel. :)
Re: Paying for Tuition
Ofcourse, there is an alternative. Get adopted by a very rich father. Or score a scholarship. Take your pick.
Re: Paying for Tuition
International students from Canada usually aren't eligible for very many scholarships. You are eligible for grants that you may get when applying for government loans.
I know there's got to be alternatives, just wanted to know if any one on gupshup had any info. For instance does any one know if any of the various islamic housing co-ops have any thing set up for students ? What about Islamic Banking, has anyone here had any dealings with islamic banks in the mideast, malaysia, etc.. in terms of getting a loan ?
Re: Paying for Tuition
^ I am also looking for someting same, but could'nt find it.
Islamic Banks do not deal in personal loans, otherwise one has to pay interest in conventional banking.
Re: Paying for Tuition
Nope as far as interest is concerned, in the grand scheme of things you will have to pay some interest if you're not in a position to finance your own education.
Govt. loans tend to be a little better in this regard because you get to remain on an interest-free status for as long as you're enrolled f-t in school and then upto 6 months after you graduate - so you won't accumulate all that much for the years you'll be in school.
The other alternative is to aply for any and all scholarships and bursaries. Its not hard to get $1000-$2000 or so every year in bursaries esp. if you've had a scholarship for the same year... you can make a case and show that you'll well worth the investment :)
Its not easy to fund your own education - I've consistenly kept a f-t job throughout the years of my undergrad and grad studies. On the one hand, this affects your grades but on the positive side, you're much better off with the work experience when you'll look for work after graduation.
Re: Paying for Tuition
I took student loan which I paid back in full before I graduated. This might not be possible for people who take loans exceeding 4 digits.
Usually the itnerest doesn't start until after you graduate and even that interest is known to be way less than say a credit card interest charges.
Re: Paying for Tuition
If your an undergraduate than I would apply for Fin-aid at your school. As a graduate perphas you can take a loan from your parents, thats why my sister is doing and shes going to pay them back when shes done.
Re: Paying for Tuition
sighs this is depressing
But thanks for your suggestions, advice and even wisecracks :p - much appreciated :)