STUDENT LOAN FOR FOREIGN STUDENTS FINANCING FOREING STUDIES OVERSEAS
A student loan for foreign students is defined as a funding facility that is granted through overseas lenders is intended to finance the expenses of a person who is studying abroad and holding a foreign citizenship.
The student loan for foreigners is a cash option granted to foreign students attending studies at university in a country of which they do not have the nationality, to allow them to meet the expenses which will cover the accommodation, the food as well as the various compulsory insurance within the framework of university study.
A student loan for foreign student is quite complex to obtain because when one pursues studies whether as a foreigner or not, it is not rarely possible to work in order to obtain a stable income, since the studies take up a lot of the time.
A loan for a foreign student in order to be approved by a bank will have to be well prepared to achieve its implementation, because lenders will have to ensure that the foreign student will repay his loan on time and that’s the reason why generally banks ask for a financial or personal guarantee that is able to cover the risk.
A foreign student loan is often the last resort left to a person enrolled in a foreign university and who must ensure that the financing of the costs are covered by a loan specially designed for the foreign student population.
A student loan for foreign studies is feasible depending on the country, while in Canada, a foreign student can easily borrow money for these studies, in France he or she will need a guarantee from a person with French tax residence; in UK, Belgium, Switzerland and Germany the conditions will be different.