Your questions answered

All music show yesterday. Today, lots of questions answered, particularly about financial aid for international students. Most US companies don’t deal in this because, frankly, the risk to return ratio is unacceptably high. If an international student takes out a loan without a US citizen cosigner, and skips the country, there’s no way to recover that debt. That’s why international student loans and financial aid need someone stateside to provide insurance that anything lended will be repaid in one form or another.
That’s also why you shouldn’t ever offer to cosign anything for someone you don’t know or know casually. It gets REALLY ugly when the bills come, and cosigners are legally liable if the principal borrower skips town. Caveat emptor!
International resources:
+ InternationalStudent.com
+ InternationalStudentLoan.com
+ InternationalScholarships.com
Enjoy today’s show!
Check it out at:
The Financial Aid Podcast Web Site
If you have iTunes, visit:
FinancialAidPodcast.com/itunes
As always, please contact me with any feedback, either here, on the show, or on the phone.