Global Student Loan Corporation
In partnership with the leading lending institutions in the United States and in other parts of the world, Global Student Loan arranges financing for international students eager to study in the US. It covers the entire cost of education including tuition fees, lodging, boarding, books, computers, travel, transportation and a few more expenses. The company has tie ups with a host of colleges, including online institutions to facilitate the admission process of students to such colleges. As part of its broader vision to serve the whole world, it is also seeking to expand to other countries, but as of now restricts its operations to colleges and universities in the United States only.
Why take loans for your US studies
Education in the United States is a very costly affair for Indian students. Of course there are various scholarships and grants for the students to avail, but they are often not sufficient enough to cover most of the expenses. It's not only your tuition fees that you have to take care of, there are a lot of other day to day living expenses that you have to consider too. In such cases, there is no other alternative, other than taking a educational loan from one of the financial institutions. But taking a loan is not an easy task either. You have to satisfy the lender regarding your financial capabilities. Then you have to arrange for a cosigner, who will stand surety for you, in case you default in repaying the loan or the interest. You have to also see that you obtain the funds at the lowest of interest rates and the repayment schedules are flexible enough for you. Considering the difficulties associated with obtaining a loan or a financial aid, it is always advisable to take the help of a professional organisation like GSLC in arranging the funds for your study abroad program. Moreover, organisations like GSLC provide you with the necessary loan certificate, which you can demonstrate as a proof of adequate funding for your US studies, during your visa interview. Many visa applications are rejected just because the students are not able to convince the concerned authorities regarding the adequacy of their funding plans.
Why Global Student Loan Corporation?
Although there are many reputed companies offering loan to international students in the US, like International Student Loan Program (ISLP), Credila Financial Services, The Education Resources Institute (TERI) and many others, a loan through GSLC is unique because it is not mandatory that the cosigner of an international student studying in the US has to be a US citizen. The cosigner can be from your own country, preferably your parents or a guardian and who has a good credit record. Moreover, the banks and agencies from where GSLC arranges the loan are from the student's home country itself. This is a great relief for those students who are not able to arrange a cosigner from the United States. Many prospective students have to forego their ambitions of studying in the US just because there were no cosigners for them. In case you are wondering why a cosigner is so essential for availing loans from banks and financial agencies, let me tell you that a cosigner ensures that in case you are not able to repay your loan back, then it will be the responsibility of the cosigner to pay it back on behalf of you. Taking loans through GSLC has an additional benefit. Many of the loan repayment schedules are such that they are spread over a long period, reducing the instalments significantly. Also, in many cases the payment of the principal amount is deferred till you graduate from the college. All this makes taking loans through Global Student Loan Corporation a very attractive proposition.
Present plans of GSLC
Currently Global Student Loan Corporation doesn't have any active student loan programs, although in the past it had many such programs for the international students. The organisation is at present in the process of tying up with various colleges, universities and institutions in the United States and is likely to come up with some state of the art loan programs for international students in the near future.
Website address and other details
The website for GSLC, www.globalslc.com has extensive information which will help you as a student in taking the right decisions regarding your college selection and financial aid. There are help topics explaining you the basics on financial aid, role of cosigners, the concept of responsible borrowing and a whole section based on frequently asked questions. The various sections as given in the website are as follows.
How to contact GSLC
Other than visiting the GSLC website, you can also contact them through the following means.
350 Fifth Avenue, Suite 2416, New York, NY,