With the rise in inflation and currency instability in many parts of the world (Africa inclusive), it has become more difficult to fund one’s study ambitions abroad. Also, the cost equivalent of professional exams, like the PLAB and USMLE has skyrocketed in weaker currencies. But with this comes the rise in demand for student loans.
Many however, are still unsure if they fit the criteria, or if this option is good for them, while some others are not certain on how to go about the process. This is where we come in. We help our students obtain admission into universities that are student-loan eligible – not all universities are eligible. It is noteworthy that not all student-loan companies cater for international graduates, and many require a co-signer. However, we work with companies that do not require a co-signer, and also international graduates friendly!
HOW IT WORKS
After you obtain an admission, we then apply to the student-loan company on your behalf. When your application gets approved, the funds are sent to the school.
Interestingly so, if you want the loans to cover your flight ticket costs, accomodation costs, and cost of books, that can be arranged! Your school will make your flight ticket payment on your behalf, so you will need to contact your school administrator.
After you have arrived at your school, you’ll be given a grace period of a month and a half to settle down and get a job. Then you’ll be required to start making monthly payments to cover the interest on the loan. This will go on until 6 months after graduation, after which you are expected to have gotten a job. Then your 10-year monthly repayments kicks in. The average yearly interest on these loans range from 13% to 16% per annum (as the loan provider determines).
PLAN ACCORDINGLY
Based on the above, we advise that you plan accordingly to know what amount is right for you. You don’t have to take an amount that covers your total tuition costs – one semester tuition can also be obtained. The amount completely depends on you! When you arrive at your study destination, you can get a job to offset the rest of your tuition. (Note that the company funds loans up to 100,000 USD).
YOU ARE NOT ALONE!
If you find this overwhelming, don’t worry, we are with you every step along the way! Let us help you plan how much in loans to take, and guide you on the entire process! Contact us today for professional guidance.