CAN GREEN CARD HOLDER GET STUDENT LOAN?

[luckyef 2]

i really will like to know,can conditional green card holder ,get student loan in usa?someone told me is possiable,but iam not sure about it,thats why iam asking,if anyone got the idea.

[Gosia & Tito 199]

i really will like to know,can conditional green card holder ,get student loan in usa?someone told me is possiable,but iam not sure about it,thats why iam asking,if anyone got the idea.

[Gosia & Tito 199]

Not sure what happened..but here it goes again:

Most lenders are going to ask if you are a citizen, permanent resident or non-resident. Technically you are not yet permanent and when documentation is asked, it will be clear your GC is conditional. The reason they ask is because they want to get their money back and for that to happen, they need to be able to get with someone that is around. Now, many lenders would give you a loan if you have a co-borrower that is a citizen or permanent resident.

Couple of things to take in consideration:

student loans cannot be discharged in a bankruptcy

think about saving some money before starting or study and work. There is nothing better than graduating with no loan to repay...it gives you a lot of options

[N and J 88]

think about saving some money before starting or study and work. There is nothing better than graduating with no loan to repay...it gives you a lot of options

You aren't kidding. $120,000 and still going...I will probably top out at $160,000. UGHHHH I get a knot in my stomach with each quarterly statement that comes in =(.

[Pitaya 2,577]

~Moving from Fam.-based AOS to Moving to the US and Your New Life in America Forum~

~Similar topics are often discussed at this forum~

[NikLR 13,230]

Not sure what happened..but here it goes again:

Most lenders are going to ask if you are a citizen, permanent resident or non-resident. Technically you are not yet permanent and when documentation is asked, it will be clear your GC is conditional. The reason they ask is because they want to get their money back and for that to happen, they need to be able to get with someone that is around. Now, many lenders would give you a loan if you have a co-borrower that is a citizen or permanent resident.

This is incorrect. A 2 year green card holder has the same rights as a 10 year green card holder. You ARE a legal permanent resident.

[aaron2020 11,651]

Come on people. Stop speculating if you don't know the answers.

Yes, an LPR can get financial aid and student loans. Lenders will not know nor care that you have a conditional green card.

[KimberlyAhmed 28]

Yes you can get student loans. My husband in fact has one and he has his two year greencard, just waiting now on the ten year one.

[FerchoGnz 6]

Personal experience,

I got 2 students loans while I was still not a resident (my husband co-signed). After getting my EAD, and getting my new SS card I have been able to apply for credit without co-signers. I have gotten 2 credit cards and I was not even asked to submit copies of my SS card as they used to ask me.

Now, a fact... As a green card holder you surely can apply for student loans...

[Gosia & Tito 199]

This is incorrect. A 2 year green card holder has the same rights as a 10 year green card holder. You ARE a legal permanent resident.

No one is saying he/she doesn't have the right to apply.

Granting a loan is a risk based decision on the ability to get loan paid, no different than a credit card a car or a home. Actually even non-residents can get a loan as long in some cases as long as someone -a co borrower- is on the hook to repay.

Lenders want to be paid back.

And it all depends on what the loan is for, for example, non residents on a H1-B (which as we all know has a limited validity) can fairly easily get a home loan. Why? Because in the event they leave all of a sudden, they cannot take the house in the luggage and the bank can re-posses and sell, minimizing greatly the risk. A student loan is going to be a lot tougher than a house. Even a car loan, and this last is because some years back, some less than honest individuals would get a car loan, get the car and then ship it to their home countries, leaving no trace and no one to collect from, until lenders caught up to the scheme that is.

The wording in the applications is "permanent" resident, not just "legal" (which would include conditional), lenders have learned their lesson and are smarter now...I happen to know all this first hand because I have worked with immigrants helping in getting them started in the maze of credit history, financial history, etc...

[NikLR 13,230]

Question: can a conditional permanent resident get a student loan in the USA?

Answer: absolutely

The question was not Can "I" get a student loan! In which case the answer would be, you habe to apply at your different resources to see.

An LPR is an LPR is an LPR. You stated the OP wasnt an LPR! Which if they have an official I-551 in their name, regardless of it's expiry date, they are a permanent resident. Period.

The only place that I have seen that can legally discriminate against a 2 year card is the military, notably the AF.

[Gosia & Tito 199]

Question: can a conditional permanent resident get a student loan in the USA?

Answer: absolutely

The question was not Can "I" get a student loan! In which case the answer would be, you habe to apply at your different resources to see.

An LPR is an LPR is an LPR. You stated the OP wasnt an LPR! Which if they have an official I-551 in their name, regardless of it's expiry date, they are a permanent resident. Period.

The only place that I have seen that can legally discriminate against a 2 year card is the military, notably the AF.

Ok, seems it is still not clear.

Member is LPR subject to ROC, in the eyes of the lender, that is a risk they might not want to take. Whether member is granted a loan or not has nothing to do with his/her status, it is all a risk decision in the perceived ability to repay; hence lenders would ask for a co-borrower to mitigate such risk.

Not even saying all lenders would, as ultimately, they also have insurance against that, and given current rates in comparison to current ROI on common instruments, it is still a deal for them.

Again, no one has said member is not LPR, what I said is that member is not permanent (and I did not mean not LPR) 'permanent' and 'legal permanent' are two entirely different things when it comes to commercial terms, and it is worded that way precisely to avoid a sniff of discrimination, which would be illegal.

I deal with contracts every day and what you think it means versus what it actually means should a dispute arises are often two different things. A loan is a contract, with $$ attached. No one gives money without a reasonable way to get it back plus interest, lenders are there to make money.

So, to confirm: member can perfectly and legally apply, the second he becomes approved on his LPR status, regardless of being subject to ROC or not.

We can argue here all day; it is not in the interest of the forum on the fine details of contracts and loans. The question has been answered and we all coincide in that member can apply.

Let's move on please.

[IguanaCouple 26]

YES. Forget about what some of the others are saying. Foreign degrees aren't worth much in the U.S. if they aren't technical. It's highly recommended that you get an American education if you'd like to make a great career.

I have federal and NJ state student loans for graduate school and I'm still a conditional resident. NJ state offered me a lower rate. You wanna look into your state loans, too not just federal.

Private lenders offered me an even better rate but I didn't want my wife to co-sign such huge sums of money so I went with government funding. (If I get hit by a bus, she'll be on the hook for $60k in case of private lenders! )

Lastly, highly recommended to get a technical qualification. (STEM = Science, tech, engineering, math) There are wayyyyy too many people in the U.S. with generic degrees in basket weaving and book binding so while you may you still get a job, you won't make enough to pay off your student loans.

[IguanaCouple 26]

Not sure what happened..but here it goes again:

Most lenders are going to ask if you are a citizen, permanent resident or non-resident. Technically you are not yet permanent and when documentation is asked, it will be clear your GC is conditional. The reason they ask is because they want to get their money back and for that to happen, they need to be able to get with someone that is around. Now, many lenders would give you a loan if you have a co-borrower that is a citizen or permanent resident.

Couple of things to take in consideration:

student loans cannot be discharged in a bankruptcy

think about saving some money before starting or study and work. There is nothing better than graduating with no loan to repay...it gives you a lot of options

I'm sorry but you are wrong.

I have a car loan, term life insurance, and I used to have a boat loan and a private loan to the tune of $9k. Lenders do NOT discriminate between LPR and conditional LPR. In fact, they don't even seem to know such a distinction exists.

The status BY DEFINITION is PERMANENT. There is no such thing as non-permanent permanent.

Individual risks are evaluated differently of course but it's not based on conditional status. My lenders were more interested in how much money I made, how I made my money and what field I was getting my master's in than anything else and they never ever bothered to ask if the green card is conditional or what not.

When they see my federal and state student loans in my credit report, they know if the Big Kahuna U.S. government is lending me $60k I'm not gonna be deported anywhere anytime soon.

[Transborderwife 4,666]

Perhaps they should take a page from the haircolor industry and call them semi-permanent residents ???