Got into Brown and Stern as an international transfer, but....

Student Lounge International Students
1

<p>I just got into Brown university(econ) and NYU Stern(finance), as a junior standing in both universities. I'm currently studying at a 4-year university in Korea, and my GPA was 3.9/4.0 with some good recommendations from professors at one of the ivy leagues. I didn't apply for financial aids because I thought I wouldn't get them anyway and applying for aids will only reduce my chance of getting in.</p>

<p>I had been so happy for a week that I finally got accepted, but now I'm facing the real problem: I realized that my family can't afford the tuitions and fees for college education in the U.S., at least for temporarily. Our family finance has been aggravating so rapidly over the last 6 months, and now it has reached a point where my family business is on the verge of bankruptcy. It may or may not revive depending on the current financial distress that swept through the Asian countries.. before the crisis, my father used to earn about $80,000/year.</p>

<p>My question is, is there any way that I can take out loans or grants from a U.S.-based institution or bank? I need to borrow around $ 30,000 to 50,000 over the next 2 years. I think I can fully pay it back after the 2~3 years of my graduation. So far I've been looking at Citi student loans and student loans offered for international students, but they all need co-signs of a U.S. citizen for the sake of creditworthiness. </p>

<p>This is so discouraging because if I can't get any aids from sources other than family finance, I will have to "decline" the offers I had so much wanted to get.</p>

2

<p>That’s a pretty common problem and I hate to say it, but no, there are no American banks that will give you a loan without an American cosigner. Can you apply for a loan in your home country?</p>

3

<p>You can’t afford Brown or NYU with your father making 80,000/year, especially NYU. It is 50,000+/year at either one of those schools. Your parents have 50000 put away for your education?</p>

4

<p>I can’t apply for a loan in my country, because our banks usually don’t give loans for students studying abroad. And our parents have already lent money to their limits, so there’s no way of borrowing from banks.</p>

<p>And no, they haven’t put away any for my education, and that is why I’m asking it right now… I can earn about $10,000 or more per year by myself by doing some internships, campus jobs and others, and I’m thinking of getting awards of $20,000 per year. But the rest should be made up elsewhere.</p>

5

<p>contact the following colleges and tell them about your financial situation and why you haven’t applied for FA.
good luck!</p>

6

<p>I’m not sure how it works in Korea, but could you try applying for some corporate sponsorship? Like a bond thing, promising to work for them after graduation if they’ll lend/give you some money (worth a shot IMO, since you seem to be heading for ‘employable’ majors). Also definitely write to the colleges - worth a try.</p>

<p>Good luck (:</p>