Monday, March 1, 2010

Need help figuring out how to get a loan


Need help figuring out how to get a loan?
I am a freshman in college and my parents are paying. I stay at home so its only about $4000 a year. In July I want to transfer to a school in Australia and become an international student. I'll need about $35,000 a year. Okay so here's my problem. My parents don't support my decision at all. I cannot get any aid money because my parents don't qualify for financial aid. I don't have, and never have had a job. I also have no credit history, as i've always used a credit card under my mom's name. I also don't have anyone to be a cosigner with. Does anybody know of a place where I can get a loan for that much money with my situation? I've been looking for scholarships but somehow I don't see myself finding enough to finance 3 more years of school.
Financial Aid - 1 Answers
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G'day, Geee.. so many spams in this forum :( Now.... I've assisted many international students in Australia and was one myself. I may not give you a good news like what you expect but I think it's better that I do not sugarcoat the truth. I can imagine your parents' objection in your decision as it is not a small matter. Tuition fee is one thing, but it is also possible that your living expenses will be extremely big as well. I have also been in your shoes where as a college student, I want to see and experience the different culture and places in the world to 'Open my eyes'. And also have fun as well :) However... these are the facts: As an international student in Australia, you are responsible for tuition fees and all payments associated with your study, as well as you living expenses. To give you an idea of the living expenses of a typical international student, the links below from a university in Melbourne may help. As an international stduent, you can apply for a work visa once you have arrived in Australia. However you can only work max 20hrs/week during semester study period, and full-time only during semester holiday period. So as you can see, you cannot rely on income in Australia to support yourself. Also when you are applying for student visa, the Australian embassy/high commission would like to see proof that you can pay the tuition fee and support yourself there with minimum work required in Australia. Therefore, without your parents' support or student loan from your home country, you can't study in Australia. Please don't get me wrong! I'm more than happy to welcome you in Australia, but I have seen plenty of my fellow international students who had to return back to their home country halfway b'cos of running out of fund. If you want a scholarship, you can visit www.ausaid.gov.au for Australian Government scholarship programs. Hope this helps. Good luck on your study inspiration.
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