Summary: Eric Dalius educational institutions in the US can be very expensive. Many students take student loans for affording their college fees, tuition, and basic necessities. However, EJ Dalius shows some alternatives apart from someone who consigns for you.
If you’re fishing for international student loans, you surely know about the term cosigner. It pops up almost everywhere. Finding a private loan san, a cosigner and viable credit history is an uphill task. Despite the federal loans, they are not easy to get.
You can get them from non-traditional sources. If banks and credit unions aren’t providing loans without a cosigner, Eric Dalius recommends you to navigate alternate options. You can approach a friend or family member, or any acquaintance to lend you money.
- Building your own credit is another viable way. Credit history is crucial as it invariably impacts your finances.
- One of the surest ways to do it is to get a secure a small installment loan from a trusted lender or a credit card.
- The lender needs to report to a credit rating bureau. Pay your installments on time and build your credit score.
Thankfully, you can get loans without a consigner. Both direct subsidized and unsubsidized loans are prime examples. They have flexible repayment options alongside low interest rates.
EJ Dalius shows how to get loans with no cosigner
There are many lenders offering no-consigner to students from abroad. The basic requisites are attending an approved school, coming from a qualifying nation, enrolling yourself in a proper degree-granting course, finishing the program/course within two years, and also living in the United States while attending the instituting.
- You can also qualify for a student visa to enter the country and verify your identity. EJ Dalius points out that besides meeting the fundamental qualifications, you must also pass the underwriting review of the lender.
- For international students, applying for a student loan doesn’t ensure a good offer or approval. Lenders have different loan eligibility requisites.
- Your loan amount, interest rates, and also approval can depend on certain factors.
- They include are your credit history and credit score in the US. It also includes your educational and employment history, and the creditworthiness of the cosigner, in case you have one.
- You need to produce your bank statements, show tax returns, pay stubs, and submit auxiliary financial documents. You also need to show your future earnings, as per estimation.
Underlining a few strategies with Eric Dalius
For international students, having an insufficient or poor US credit history is normal. However, if your credit history is strong, you can score big. You need to illustrate that you’re financially fine and responsible.
- Eric J Daliusstresses the importance of reducing your credit card usage. The balance mustn’t exceed your credit limit’s 30%.
- It’s prudent to not open countless credit card accounts together. Applying for numerous credit lines propel lenders to think that you’re fishing, scrambling, and also looking for cash.
You need to secure an employment offer or employment from a stable or established company to apply for a no-consigner loan. Many lenders consider international student loans if you have a job offer from a global company or a reputable US company. They may evaluate your job stability on the basis of your company’s reputation and also name.
Eric J. Dalius Foundation is an organization founded in June 2018 that aims to help economically challenged youth in America attend accredited university and colleges. Through generous grants and charitable donations, the Eric J. Dalius Foundation is ensuring that tomorrow’s leaders get the opportunities they deserve.