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private student loans that are sent directly to the student

post #1 of 5
3/23/10 at 2:05pm
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I'm looking to do a summer abroad program that's not through my matriculated university without the aid of my parents.
However, it looks like most of the loans are sent directly to my matriculated university, and having them send it over to the summer program requires a HUGE list of bureaucratic steps, and even then, it's not guaranteed to work/cover other expenses (airfare)
So, are there any student loans from a reputable lender that has the funds sent directly to me? Most of where I've called don't offer such a service.
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post #2 of 5
3/23/10 at 6:54pm
Nope. All student private loans are approved through your university. They give it to you, you give it to the summer program. That's how they get the interest rates lower.
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post #3 of 5
3/23/10 at 10:21pm
I studied abroad an inordinate amount of time and i can tell you that public federal loans are probably the best and only way to go. the bureacratic steps aren't that bad, you'll need to get used to them after u graduate anyway
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post #4 of 5
3/23/10 at 10:23pm
Where are you planning on doing your SA? Some schools offer special scholarships to study abroad students. You might want to check on that.
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post #5 of 5
3/24/10 at 10:50pm
Federal loans are better, but generally unavailable for lower amounts of credit hours. It's always better to be fixed at 7.5% than to get 5 and have it go to hell on you. Of course, always take advantage of the scholarship opportunities. I got one to Oxford once, just wrote a page about why I wanted to go and they gave me six large. Generally, however, larger programs that pull country-wide (especially post-grad) do not have scholarships.
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