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Feb 22, 2023 - 06:48 AM
Private student loans may be an option for international students who are looking to fund their online degree program. Private student loans are loans offered by private financial institutions, such as banks, credit unions, and online lenders, to help students pay for education-related expenses, including tuition, fees, and living expenses.
For example, Sallie Mae is a private student loan lender that offers loans for both in-person and online degree programs. Another lender, Discover Student Loans, also offers loans for online degree programs.
When considering a private student loan for an online degree program, it is important to research and compare different lenders and loan options to find the one that best meets your needs. You should also review the loan terms and conditions carefully, including the interest rate, fees, repayment options, and any requirements for co-signers or collateral.
It is also important to keep in mind that private student loans often have higher interest rates and fees than other types of loans, and they may require a credit check or a co-signer. International students may face additional challenges in obtaining a private student loan, such as a lack of credit history in the United States, so it is important to explore all other sources of funding, including grants, scholarships, work-study programs, and employer tuition reimbursement programs.
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