Student Loans and a Probably Naive Idea

Paying for College
1

<p>Hi everyone, I'm in something of a fix financially. I've been accepted to UPenn for next year but I was offered nothing in terms of financial aid, something that came as a shock to my parents and I. While I will do my best to appeal the decision, I have a general question.</p>

<p>I'm from Canada and most student loans are without any interest here while the student is still in school. I was wondering if this is also the case for the United States? My parents have the idea of me taking out a huge student loan whilst they put the money in a high interest account so that they can keep the interest after paying off the loan at the end of my 4 years in college. I'm sorry if it seems like a naive idea but we really aren't familiar with the American system.</p>

<p>Beyond this, can anyone recommend a particular organization or loan for international students wanting to study in the United States? Is a US cosigner ALWAYS required? Any help or suggestions would be greatly appreciated!</p>

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<p>As an int’l student, you can’t really get a student loan here unless you get a private loan and have an American co-signer.</p>

<p>That said, you won’t get one that is interest free while you’re in school, no matter what. However, maybe your country will lend you money to go to school in the US…</p>

<p>Even American students can’t borrow large amounts that aren’t accumulating interest.</p>