Anonymous asked in Education & ReferenceStudying Abroad · 6 months ago

What are the best student loan options for an American studying in Europe for 3 years?

Hello there, in need of some advice! I have applied to a top European business school not really expecting to get in, but I actually did! So now I’m on the massive hunt of figuring out how to pay for the tuition, looking for the right loan, but I have absolute zero knowledge on student loans. I’m not sure what limits I have since the school isn’t in the USA nor an American affiliated school. Is there anyone out there who knows about student loans that will cover American students who obtain their degrees abroad? Or has experience with obtaining their degree abroad? Any advice would be great

Thanks in advance

5 Answers

  • 6 months ago

    Your question is confusing. You refer to a 'top business school' which would be either London Business School or INSEAD. But neither have 3 year programmes, they are single year MBAs.

    So perhaps you are confused and are applying to do an undergraduate degree in which case the better universities are all FAFSA eligible so no problem getting a US student loan. Check the FAFSA overseas listing here

    But (big but) Business is a very poorly regarded undergraduate degree. If you want to get graduate level employment at the end, do not do an undergraduate degree in Business. Employers hate it!

  • 6 months ago

    US student loans cannot be used for study abroad (exception: a study abroad program through your US university whereby you pay your US school's tuition). You cannot borrow from any bank: students typically have no credit history, assets, etc, and you certainly have no job in US. Above all, you are leaving the country for an extended period & cannot borrow! You cannot borrow in a foreign country - you are not a legal resident, student visas are temporary. You have no job, no assets, no credit history in the foreign country.

    Business degrees are a glut on most markets, and you cannot expect financial aid from your foreign university, especially not for business, and usually not for any grad school anyway.

    You (& your parents) have to pay for everything. Proof of sufficient funds for all school + living expenses + return transportation to country of citizenship required to apply for student visa. No money = no visa.

  • Anonymous
    6 months ago

    You'll need to look at private bank loans - government-backed student loans (either in Europe or the US) don't cover international studies

  • drip
    Lv 7
    6 months ago

    Most student’s parents have the cash. You won’t get a private student loan from an American bank/ lender. to go to college outside of America. And you won’t get a student loan from the university or country you want to go to.

    Study aboard is a luxury

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  • Tavy
    Lv 7
    6 months ago

    American students in the U.K. have to fund it through their families, there are no loans.

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