Hi! I will be attending my undergraduate study at a foreign institution in South Korea. I have tried researching lenders that will provide foreign enrolled loans (or any type of loan) to U.S. students studying full-time abroad, but have not been successful. I have checked and the FAFSA does not provide aid to my particular school, and my school does not provide financial aid until a student’s second semester. Does anyone know of any lenders or banks who will provide such aid? Any info will help! I’m in desperate need!!! Thank you!
How much do you need to borrow?
We have a daughter studying abroad in Canada. However, the cost is less than it would have been to study here in the US, and we are just paying the full amount. We did not even look for loans or any funding other than the merit scholarship that the school offered her.
At least for international students studying in the US or Canada you need to show that you can afford to attend before they will give you a student visa. I do not know whether Korea has the same requirement.
If this is for the full four years, then I would be very careful about even starting your studies unless and until you know that you will be able to pay for all four years. I have met a small number of people who made it part way through university and then had to drop out without finishing. They were not able to borrow enough money to finish their degree. They ended up with lots of debt but with no degree. This is not good.