The Complete Guide Wishing to study further overseas but daunted by the cost? You are not alone. With the cost of tuition and living in popular study destinations like the USA and Canada continuing to rise, overseas student loans are quickly becoming the lifeline for tens of thousands of students around the world. Here is everything you need to know in order to make a well-informed decision regarding financing your foreign study with an international student loan, especially with guidance from Arrows Education.

 

Why Use a Student Loan for Study Abroad?

Study abroad is an investment. An investment that can result in better career opportunities, global exposure, and personal growth. But the rising expense of education abroad puts it out of reach for many families. That is where student loans come in.

A student loan abroad can:

• Help pay for tuition, living costs, and other fees involved in studying
• Help make it possible to attend the best universities
• Allow you to focus on your studies instead of financial stress

 

Types of Student Loans You Can Obtain

Student loans vary based on terms and conditions. They include:

• Fixed-interest loans – fixed payments
• Variable-interest loans – can start low but can rise
• Collateral or cosigner loans – have lower interest but are harder to qualify for
• No-collateral, no-cosigner loans – more lenient, most suitable for international students

 

Arrows Education provides no-collateral, no-cosigner loans that are:

• Flexible
• Refinanceable
• To eligible students in the USA and Canada

 

Who is Eligible?

You can be eligible if:

• You’re a student in the USA or Canada
• You’re in your last two years of a bachelor’s program, or pursuing a full master’s or Ph.D.
• You’re studying in a certified institution and program (STEM and business fields preferred)
• You have a satisfactory financial record (credit score important)

 

What Is the Loan For?

• USA: Living expenses and tuition
• Canada: Tuition (you’ll need Proof of Funds for living expenses)

The loan does not cover visa fees, flight, family expenses, or travel costs.

 

Documents Needed

You’ll typically need:

• Admission letter from an eligible institution
• International passport & second ID
• Academic transcripts & certificates
• Resume/CV & work history
• English language test scores (e.g., TOEFL, IELTS)
• Proof of Funds or income

How Much Can You Get?

• Maximum: $100,000 USD
• Disbursed: $50,000/year for 2 years

 

Loan Terms & Repayment

Interest: 13%–15% fixed rate

Repayment of simple interest during studies (e.g., $150/month for $10,000 loan)

Full repayment begins 6 months after graduation

Maximum repayment tenure: 10 years

Moratorium period: 6 months after studies, interest continues to accrue

 

Can I Use the Loan as Proof of Funds?

Yes! The approval letter for the loan can be used as PoF (Proof of Funds) for visa application and university admission in the USA. A visa support letter is also provided.

 

When Do I Receive the Money?

Loan funds are wired directly to your institution when you arrive. Institutions transfer living expenses (where applicable) to you.

 

Am I Allowed to Work While Studying?

Absolutely! Recipients of the loan can still work:

• Up to 20 hours a week during school terms
• Up to 40 hours a week during breaks

 

Monthly Repayment Example

For a $10,000 loan:

• While in school: $150/month interest
• After graduation: $160/month (10-year plan)

 

Key Points to Keep in Mind

Before you borrow:

• Take only what you require
• Plan your repayment schedule early
• Understand that interest is levied from Day 1
• Don’t over-borrow, it may affect your future

 

How Arrows Education Helps You

Arrows Education is with you every step of the way:

• Free initial eligibility check
• Support for admit and offer letters
• Loan and visa application assistance
• No loan support charges if Arrows is arranging your admission

Disclaimer: Arrows is not a lender or a cosigner. You are completely liable for your loan.

 

Final Thoughts

Yes, a student loan is a significant commitment. But for an individual who is eligible, it’s the key to unlocking doors of life-changing education opportunities. Ask yourself: “Is my future worth the investment?” If your answer is affirmative, Arrows Education can help you to proceed with confidence.

📞 Contact Arrows Education
📍 EduCity Complex 1, Iskandar Puteri, Malaysia
📧 arrowsabroad@gmail.com | 🌐 www.arrowstransactions.com
📲 WhatsApp: +60 112 174 8309