Can you take out a loan to study abroad?

I want to live abroad too so once I finish I'd start my life there

Update:

*I plan to settle down and find a job there. 

6 Answers

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  • Andrew
    Lv 7
    3 weeks ago

    Many countries provide free or discounted tuition to foreign students, but whether or not a particular individual might be eligible for that would depend on a host of factors. Firstly, many of those free or discounted programs are only available to people who hold a certain passport, secondly, many of those free or discounted programs are only available to people of a certain age, and thirdly, many of those free or discounted programs are only available to people who are interested in studying a specific field, they aren't available for all majors and disciplines. 

    In regard to a loan, that's likely going to be an impossibility. If you were to stop and think about it for a moment, you'd likely see that it wouldn't at all be cost effective for any country to provide a loan to a foreign student. To be eligible to study abroad, most candidates are required to submit proof of financial assets. Why? Because the host nation needs to determine that the applicant is in a position to provide for him or herself while in the country. Nobody wants to have to take care of a bum who can't cover his or her own expenses. Aside from studying, you will need money for other things - you will need to eat, pay utility bills, register a phone, take a bus or a train or a taxi on occasion, and thus you will have to show proof that you are capable of taking care of yourself during your studies. 

    There's also nothing to stop someone from applying to study, receiving a lump sum payment of thousands of dollars, and then getting on the next plane home. No institution is going to fork over money to a foreigner to study because it's not an investment. You will need a student visa to remain in that country for any lengthy period of time. Once you complete your studies, your student visa will expire and it will be time for you to go. In most cases you would not be eligible for employment, so it wouldn't make sense to pay to educate you. To work in that country legally, you'd need to apply for an employment visa, and those are only issued when someone is willing to sponsor it. Why would an employer agree to sponsor a visa for a recent graduate who holds a foreign passport? 

    If you want to study, but you don't have the means, explore options for financial aid in your own country. Studying abroad is not a right - it's a privilege, and it's only open to the small segment of the population that's eligible. From what it sounds like, you don't even begin to meet the requirements. And all of this is not to mention that in most cases, study abroad opportunities are only available to people whose grades are fantastic. Unless you are in the top ten percent in your school and have the transcripts and letters of recommendation to prove it, you'd likely be declined. 

  • 1 month ago

    You forgot to give us your country so impossible to know what 'abroad' means for you.  If you are in the US, there is a published list of FAFSA eligible foreign universities.  That will not cover all your fees and costs, international study is expensive and you are generally restricted from working during the academic year.

    To study in Europe you will need more than just a high school graduation certificate, most have an Associates degree.  You will probably need to pass a language exam too.

    You will not be able to 'settle down and find a job there'.  That is not the way the world works.  There is also the issue of internships.  Those are important and you will not have access to them.  Studying abroad is wonderful but has hair on it.

  • drip
    Lv 7
    2 months ago

    No, you can not.  Student loans are going to for a university in your country.  

    Trying to immigration through a student visa is never a good idea. Most countries will require you to leave the country immediately after finishing your studies. You will need to find an employee that is willing to sponsor your work visa.  And you will need to apply for your work visa in your country.

    What country do you want to study in?

  • 2 months ago

    No on all counts. Foreign students cannot borrow in their home country since they are leaving for an extended period. They cannot borrow in the country where they go to school since they are only temporary guests on temporary visas which restrict or outright prohibit working. 

    Furthermore, student visas are temporary non-immigration visas issued on the condition that foreign students must return to their own country immediately upon completion or termination of full-time studies. You will NOT remain in the country where you go to school. 

    To get a student visa, IF a university accepts you, you must prove you (& your parents) have sufficient funds for all school + living expenses + return transportation to your country of citizenship. Increasingly, countries are cracking down on attempts at visa fraud, intent to remain, and you should expect to prove your country has demand for grads in your chosen field, and your ties to your own country compel you to return home promptly. 

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  • 2 months ago

    this is unlikely.  no financial institution will lend like that -- too difficult to collect

  • 2 months ago

    Studying abroad specifically doesn't lead to residency abroad - your student visa requires you to leave and return home on completion of your studies. 

    Any loan would need to be taken out in your home country. 

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