North Central College in the News
North Central College financial aid director quoted in U.S. News & World Report
Jun 11, 2021
Kevin Towns shares insights on international student loan eligibility
Studying in the U.S. as an international student is a big expense. Even though students need to prove that they have ample finances before they begin school, there are times when they may need some extra funds. Some private lenders offer student loans for international students to help them complete their education.
Many lenders base private student loan approval on creditworthiness. The challenge then becomes that international students do not have a credit history in the U.S. or parents in this country who can borrow on their behalf. So, most lenders require a co-signer for the loan who is a U.S. citizen or eligible noncitizen.
Kevin Towns, director of financial aid at North Central College, was quoted in U.S. News & World Report, where he discussed international student loan eligibility and what international students should keep in mind when considering loans.
“The co-signer would need to have acceptable credit scores and credit history,” said Towns. “That way, if the student does not repay the loan, the co-signer pays the debt.”