Loans for Studying Abroad

Dear Michael,

There are 2 ways to study abroad that you should consider. Check to see if your school in the United States offers a study abroad program through the institution. In this case, the financial aid process and eligibility would be about the same (your "home" school would handle it like they do now), and the credits you earn overseas would more than likely count toward your current degree.

You could also take a year off from your current school and enroll on your own for a year abroad. In this case, you would need to make sure the school participates in the United States’ federal student loan program (most of the larger European, Canadian, and Australian universities do), and check with your home institution to see if the credits would be transferable. Note that the second option will only give you the ability to qualify for loans, not grants or scholarships, sponsored by the government. Private loans are another option you may want to look into, if the international school allows them.

Regards,
Betsy