Need Advice

[Ohoopee]

Hi, I am a citizen of the US but and trying to get a student loan to attend a school overseas. The problem is that the school I wish to attend is not on the FAFSA list of partisipating schools. It also isn't on any of the big banks who offer private education loans list such as Bank of America, Chase, Wachovia, Citi ect. Is there any student loan company which doesn't require your school to be on some kind of list? I never could have imagined that I would have all of these problems. I have searched the internete but have not found any good results. I even found a student loan company which specializes in Foreign Student Loans but they also require that the school be on thier list of partisipating schools. I have also looked into Personal Bank Loans but they do not want to defer my payments until after Graduation and want me to put up a collateral which I don't have. I am sure that I am not the first person this has happend to so I am wondering what my options are. I have contacted the school and they basically told me that since I was not a citizen of thier country that my financial options would be very difficult. Any advise will be appreciated.

 

[Loaned]

Been there, done that.

 

A few years ago the Department of Education knocked almost every school in the world out of the educational loan program. Schools in the U.K. were the first back in under a blanket agreement. Other schools had to apply individually.

 

The school would have to contact the foreign schools office at the D.O.E. in Washington to be allowed in the program. The process takes from 6-12 months. It used to be easy but there are so many rules now most schools don't think it worthwhile to do all the paperwork and training.

 

Good luck.

[Ohoopee]

Yeah, when I called the school, they said that they use to be on the FAFSA list but were no longer, they didn't say why. Bank of America still has them listed on thier list. When you apply for a Bank of America loan, you have to select your school from their list. I tried but my loan was denyded based on the fact that the school wasn't approved to receive the loan. So, does that mean that I am out of options? I have already contacted the school about getting on the list but they politly said no. This school is in the UK.

 

Thanks for your help.

[Loaned]

I'd call the British Council.

 

They are the ones who negotiated the blanket agreement with D.O.E.

 

They might have some ideas.

[Ohoopee]

Thanks, I will do just that first thing Monday