Can undocumented students apply for private student loans?

In summary, the conversation discusses the possibility of undocumented students obtaining private student loans and the need for professional legal advice. The person is a senior looking to apply to colleges and is specifically interested in those with strong programs in electrical engineering and physics. They also mention the potential issue of not being eligible for FAFSA due to their undocumented status and the need for additional funding options, such as scholarships and private student loans. However, due to the complexity of the situation, it is recommended to seek professional legal advice for guidance.
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Can undocumented students get private student loans? I'm a senior and I want to apply to colleges but don't know what college is best for me. I'm applying to MIT, Boston University, MSOE, Worcester Polytechnic Institute. But can someone recommend me a few other no loan colleges that have strong programs in electrical engineering and physics? And if the scholarships I get aren't enough, then how can I get private student loans? (I'm undocumented, therefore, not eligible for FAFSA.)
 
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You need professional legal advice.

Colleges receiving federal aid - which is 99.99% of them - are required to report to the federal government all their international students. That's you. Yes, there are a large number of "what ifs", which is why you need professional legal advice.
 

1. Can undocumented students apply for private student loans?

Yes, undocumented students can apply for private student loans. Private lenders do not require proof of citizenship or legal residency for loan eligibility. However, undocumented students may need a cosigner who is a U.S. citizen or permanent resident to qualify for a private student loan.

2. Are there any restrictions or limitations for undocumented students applying for private student loans?

There are no specific restrictions or limitations for undocumented students applying for private student loans. However, they may face challenges in finding a cosigner or meeting other eligibility requirements set by the lender.

3. Will applying for a private student loan affect a student's immigration status?

No, applying for a private student loan will not affect a student's immigration status. Private lenders are not required to report loan information to immigration authorities.

4. What documentation is required for undocumented students to apply for a private student loan?

Undocumented students are not required to provide any specific documentation for a private student loan. However, they may need to provide a valid government-issued ID and proof of income if they have one. Additionally, a cosigner with a good credit history may be required.

5. Are there any alternative options for undocumented students who cannot qualify for private student loans?

Yes, there are alternative options for undocumented students who cannot qualify for private student loans. They can explore scholarships, grants, and other financial aid options that do not require proof of citizenship or legal residency. They can also consider attending community college or online courses, which may have lower tuition costs. Additionally, some states offer in-state tuition rates for undocumented students.

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