Hi! I’ve been granted 3.5k in loans from a college (I’m an intl). It would really help me out if they just offered the amount in grants and I want to know how to approach the college. I heard it’s better for your parents to speak to the finaid office but my parents don’t speak great English, so it wouldn’t really be an option. Also, it’s a deciding factor between this school and another one (the difference isn’t huge, but any penny counts honestly).
Thanks!
It’s fine if you speak with the financial aid office. I think they prefer speaking with students, but sometimes the parents understand the family finances better, which is why financial aid is more willing to speak with parents than other offices at a college. If those funds will make the difference in whether you attend or not, I would certainly let them know that.
Thanks! Is email acceptable or should I call? I don’t really want to call right away but if it’s the way to go I guess I’ll have to.
I would mention your parents aren’t fluent in English and it has been suggested you call to discuss options.
What kind of loan is a U.S. College granting an international student?
It seemed strange to me too that the loan amount of $3,500 is the same as the subsidized amount of the Stafford loan.
It appears that this is Grinnell (which has the oddest situation involving waiving a co-signer)
Grinnell College International Student Loan (GCISL)
Most students receiving gift aid from the College are also awarded a student loan as part of the need-based aid package. A loan is borrowed money that must be repaid.
The interest rate is fixed at 6 percent. No interest accrues on the loan while you are enrolled at least half time at Grinnell. Repayment begins six months after your Grinnell enrollment ends. You may be eligible for deferment providing appropriate conditions are met.
In most circumstances, a creditworthy cosigner is needed for this loan. A cosigner is someone who is willing to sign the loan agreement with you. If no cosigner is available, you may request a cosigner waiver from the Office of Financial Aid. In the event you are unable to pay the balance of the loan, the cosigner will be responsible for paying back the loan. In addition, the cosigner authorizes Grinnell College to annually assess his/her creditworthiness and must be approved by the cashier.
It is your responsibility to secure a cosigner who:
is a U.S. citizen or permanent resident living in the United States,
is at least 21 years of age,
is not enrolled in a college or university, and
is creditworthy.
If your award includes a Grinnell College International Student Loan, you will receive more information, including instructions on how to complete your loan paperwork, over the summer.
Requirements:
Complete the need-based application process. See Apply for Aid.
Have a U.S. citizen or U.S. permanent resident as an approved cosigner.
Complete the GCISL Cosigner/Waiver Form
Why wouldn’t every int’l at least try to get the co-signer req’t waived??? lol
To the OP…you can certainly ask the college…but most schools hope that there will be some buy in by the student. So this could be this loan for you.