Review of 5 Top and Considerate Private Student Loan Providers for International Students

Have you been wondering if you can obtain loan from a private firm to fund your education but scared what the odds might be? You don’t have to worry anymore because i have reviewed the best and most considerate private loan providers for your funding needs.

take your time to read and understand their offers and choose the one that best fits your needs.

Review of 5 Best Private Student Loan Providers

Some of these loan organizations offer student loans to strictly students from their country of operation who wish to study abroad, but some also offer loans to international students who want to study in their country or other countries of their choice.

1. Ascent’s Private Student Loans

Fixed interest rates ranging from 4.35% to 13.06%

Variable interest rates ranging from 3.62% to 12.99%, these are subject to change

They offer a loan repayment period of up to 5, 10 or 15 years

No origination, disbursement or application fee or charges

They don’t charge you for paying off a loan too early

If you choose the option of income-driven repayment, you can qualify for a reduction in interest rate up to 0.25%

You can qualify for a $1,000 scholarship if you complete their survey form

Ascent can pay you $600 per year if you refer 6 people

You have the option of deferring your loan until you graduate

If you face difficulties during repayment, you can forbear your student loan for about 3 months per time

You are only allowed to forbear your loan for a total of 24 months in your given period of repayment

If you meet the required credit score, you won’t need a cosigner  but if otherwise, then you will need one who is a citizen or permanent US resident and meets the required credit score

Application is done online

Aggregate loan limit is $200,000

In the case of the borrower’s death or permanent disability, you can earn a loan forgiveness

Your cosigner can be released if you consistently repay your loan for at-least 24 months

2. Sallie Mae’s Private Student Loan Company

Fixed interest rates; 5.24% to 11.85%

Variable interest rates; 3.88% to 11.35%

No fees of any sort

They offer free access to FICO credit score quarterly. They also offer free student supports for homework or other study needs for four months

Sallie Mae allows you to defer your student loan while in school but gives only 6 months period of grace for repayment after you graduate. The unpaid interests during deferment will be added to the principal you borrowed

They offer loans for k-12, undergraduates, graduates, parents and certificate programs

Maximum amount you can borrow depends on your school’s financial aid office

Application is done online

They offer loans to international students too

They don’t offer loan forgiveness option

They offer cosigner release for some loans

3. Sun-Trust’s Private Student Loans

Fixed interest rates; 4.55% to 13.25%

Variable interest rates; 3.62% to 10.675%

They offer up to 7, 10 or 15 years repayment period

No hidden charges of any sort

If you can enroll in automatic repayment plan, you get an interest rate reduction of 0.75%

Graduates are eligible for a principal reduction of 2%

They offer you $500 scholarship which goes to text books or accruing interest

SunTrust offers deferment while you are in school

They award loans to undergraduates and graduates

After 36 or 48 consecutive repayments, SunTrust can release your cosigner

Aggregate loan limit of $150,000

Application is done online

They offer Loans to international students too

No loan forgiveness

4. Wells Fargo Private Student Loan Organization

Fixed interest rates; 4.99% to 12.68%

Variable interest rates; 4.80% to 12.23%

There is a charge for late repayment, but Wells Fargo doesn’t charge you for paying off your loan too early

No loan origination fee

If you are already a customer that has gotten a loan from Wells Fargo before, they can reduce your interest rate by 0.25%. If you have a portfolio with them, you can get up to 0.5% reduction

There is only 6 months grace period after leaving school

They allow you to forbear your loan for a period of 48 months to 4 years while in school

Note; Forbearance means you won’t make payment but still accruing interest.

Deferment means you won’t make payment and you are not accruing interest either.

If you face financial hardship, or you can’t secure a job, or you a military personnel in active service, you can get up to 3 years forbearance

They offer cosigner release option

They offer loans to both graduates and undergraduates

Wells Fargo aggregate loan limit depends on the type

Application is done online

There is option of loan forgiveness

5. Discover’s Private Student Loans

Fixed interest rates; 5.24% to 12.99%

Variable interest rates; 3.87% to 11.87%

Discover offers 15 to 20 years repayment period

No origination, application or late repayment fee

If you make a 3,0 GPA or higher , Discover Offers  1% of the Principal as a cash reward

They also lower your interest rate by 0.25% if you enroll in automatic repayment plan

They offer 45 months deferment period while you are in school and 6 months grace period after school

If you make repayment while still in school, you qualify for interest rate reduction of 0.35%

They can approve $25 monthly repayment from a student while still in school

They can’t release your cosigner except you consolidate your loans

Discover offers undergraduate loans, graduate loans, MBA loans, residency loans, Law school loans, Bar exam loans, health professional loans and consolidation

Aggregate loan limit depends on your school

They offer loans to international students too

No loan forgiveness.

Share on Social Media

Leave a Reply

Your email address will not be published. Required fields are marked *