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Educational loan for permanent resident

Educational loan for permanent resident

Old Dec 30th 2001, 11:52 pm
  #1  
David Reyes
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Hi all,

Not strictly an immigration question but perhaps anyone here has gone this road
before....

I'm a US permanent resident (my wife is a US citizen) and I'm planning to go to grad
school. What kind of educational loan, probably federal loan, can I get as a
permanent resident? I'm currently employed, if that matters.

Thanks!

David
 
Old Dec 31st 2001, 12:04 am
  #2  
Alvena Ferreira
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David Reyes wrote:
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You probably qualify for most if not all of them. See examples here for chicago:
http://www.uchicago.edu/student/loan...5pgmtable.html Ask your education
institution, they will guide you regarding what resources they have for loans. Your
residency versus citizenship should not be a problem in getting money. Alvena
-----------------------
Doc Steen Site: http://www.mindspring.com/~docsteen/...o/visainfo.htm
=========================================
I am not a lawyer and this is not immigration advice. This is my personal opinion,
posted for the purpose of discussion only. Locate an immigration attorney in your
area at: http://www.aila.org
=========================================
 
Old Dec 31st 2001, 12:05 am
  #3  
Aangiela
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I'm not an expert on this, but while I was in college, I worked for the admissions
and financial aid offices. I had to put together foreign student orientations. At
that time which was about three years ago, only US citizens ( this excluded permanent
residents) were able to receive federal student funds for financial aid. You may want
to call the financial aid office at your local college or university. The same rules
apply for all colleges in the US regarding federal finanicial aid. If you can't go
that route, you may try for a personal loan. I know that some of the rates for these
loans are as low as
7.5% which is the same as a student loan. The only hitch is, that you can't wait
until you're out of school to start paying them back.
 
Old Dec 31st 2001, 12:17 am
  #4  
Im
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Hi, if you are concerned about means tested benefits .. student loans as well as pell
grants are not in the group of those. FASA will recheck with the INS to insure that
you are a permanent resident which makes the period of waiting for the loan a little
longer (by about one week). If your household makes under a certain amount of income
you may receive a pell grant as well as a unsubsidiced or subsidised loan. Hope this
helps! Isa

David Reyes wrote:

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Old Dec 31st 2001, 12:31 am
  #5  
Mayellae
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Pell grants are not available to grad students. I know....I'm a USC and grad student,
and the only aid I am allowed to receive are loans.
 
Old Dec 31st 2001, 3:01 am
  #6  
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You might try a Fulbright grant: http://exchanges.state.gov/education...t/nonusflb.htm
Or a Scholarship Search: http://www.new2usa.com/nova/english/...olarshipsearch
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Old Jan 1st 2002, 5:00 pm
  #7  
Anirban
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I went' thru undergrad and grad schools as a Permanent Resident in engineering school
and an mba- the ONLY thing i was not eligible for were grants that were directly from
the US Armed Forces - (i.e. Defense related research work). You'll have to file a
FAFSA and go thru a lending institution. For b-school, I went thru SallieMae, which
was really a very easy process. When you do apply for your loans, include a photocopy
of your green card (front and back). This helps the process (or at least it has never
hindered my process).

I believe the only loans you are eligible for are the Stafford Loans, and the
subsidized amount you can borrow is dependent on what the government figures you can
put out of your pocket. That will be determined by your tax returns, savings, etc.
etc. The remainder you can still borrow but will be unsubsidized (the interest will
accrue during your time in grad school). IIRC, the total Stafford Loan per academic
year is something like $28,500, of which 10,500 can be subsidized.

There are other, private loans that you can also take as a permanent resident,
usually with higher interest rates.

By the way.. if you are thinking of going to grad school on a full time basis, you
may want to consider the fact that most grad departments have a semi- to fully funded
assistanceship programs. You should check into that. Especially if you're in any
science related field, the amount of grant and department money out there is
mind-boggling. Even if you can't pick one up as you enter into grad school, usually
in a semester or two you should be able to pick up some funding. Just make sure you
talk to the professors and the graduate school coordinator and make sure that they
are aware of your needs. Usually you end up working about 10-20 hours a week as a
research or teaching assistant, and your tuition is taken care of, as well as a small
stipend comes your way. Voila! No loans.

Point is - even as a green card holder, there are many many opportunities out there -
you just need to make an informed decision.

Hope this helps.

Anirban

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Old Jan 2nd 2002, 1:28 am
  #8  
M
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I don't know if this would help you or not, but there is a web site called Fast-web
which has a lot of annoying advertisements, however notifies me of various kinds of
scholarships and financial advice on higher education. I just completed my MBA and am
working on a doctorate, and they send me notices via email. I think the website
is:

www.fastweb.com

Also all I got was a Stafford Loan as others have indicated.

Good luck!

M
 

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