The answer to this question usually is dependent on your financial condition. You can get loans provided you qualify for the loan amount.
However, there are a few technicalities involved while lending money to students. Therefore, loan flexibility provided to undergraduate students, postgraduate, college students, courses, and others will vary in every area of education. Here is a comprehensive insight about them each.
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For college students:
If you are a college student seeking a loan amount of up to $300, there is no need for a guarantor. Besides this, the repayment tenure of the student loans will be six months after your course completion date.
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For undergraduate students:
Undergraduate students can get loan amounts between $300 to $50000 without any guarantor. The repayment will start after six months of course completion.
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For postgraduate students:
You must be a graduate or already working in a related field for the postgraduate student loan.
Also, you can get up to $100000 without any guarantor. Therefore, a part of your salary will be deducted to repay your loan amount.
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For Ph.D. students:
If you are a Ph.D. student with no job, then the maximum amount of loans that you can get is around $25000.
Therefore, the repayment will start after two years of course completion.
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For Internship students:
Internship loans provide full support for students to engage themselves in internships. Besides, the maximum loan amount will depend on your course and the nature of work experience you get after completing the course.
For example, If you are an international student and intend to travel to the US for an internship, you can get around $50000 without any guarantor.
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For Diploma students:
Diploma students can get the maximum loan amounting to $25000 with a repayment tenure of 2 years.
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Course wise loan:
Here is a list of all courses and the maximum loan amount that can be availed:
– Bachelor’s Degree (up to $50000)
– Undergraduate Degree (Up to $45000)
– Diploma Courses (Under Construction)
– Access/ Foundation Courses (Under Construction)
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For research students:
If you wish to take a loan amount for your research work that is not a part of a university course, you can get the maximum amount of $20000. Moreover, these loans are provided with a repayment tenure of 2 years after completing your degree.
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For distance learning students:
If you are a distance learning student who agrees to repay the loan amount after two years, you can get up to $50000.
Thus, the maximum repayment tenure is 12 months.
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For part-time students:
If you are a part-time student, the maximum loan amount you can get is $50000. Besides, your repayment tenure will be 12 months after course completion.
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For secured student loans:
If you have collateral security for your family house or other properties, you can apply for secured student finance amounting to up to $75000. Moreover, the repayment period will be two years.
Other Options For Student loans
Besides government agencies, several agencies or companies provide loans on low interest or almost zero interest, and one such company is Credit Magic LLC. Therefore if you are new in the loan sector and looking for a reliable source to get credit, go for this company. They can guide you throughout the loan process and inform you which method would be the best for you to opt for.
Moreover, here are a few more loan options for students:
- For students living abroad, you can get up to $35000 loan amount
- You will have the facility of student credits if your parents are employed or self-employed
- If you are a care leaver, you can apply for a loan amount up to $50000
Important Note:
Please note that the loan amount provided in this blog post is the estimated credit amount. Besides, they can vary from the actual loan amount provided by the US government and private authorities.
So, if you found the information mentioned in this blog post helpful and would like to learn more, please write to us about what more you’d love to hear in the comment section below.
