Loans for international study

Neil_oliver

Hi! This is my first post and i hoping you that you might be able to help me find a loan that could honestly change my life.

I am a 33 year old teacher that is (attempting to) return to studying and complete a Masters degree in New York. Its super expensive ($76,000) but I managed to get a partial scholarship and I am using all of my savings towards it. The problem is I am still around £20-22,000 short of being able to attend.

I have researched every student loan option and they are not available for masters degrees or international study. Career Development loans also don't allow study outside of the UK. US based loans need a US co-signer which i do not have.

Without this money i am unable to attend. I am at the point where the only option i have found is a crowdfunded loan through EdAid (check out the company its a great idea), but i have not found anyone that is has the ability to loan it to me; i have even tried contacting local businesses for their support.

So my question is: Have i missed anything? Are the other loans i can explore? My issue with a normal loan would be the huge repayments over a short period of time paying it back, and the repayments during my time of study. ANY advice you have would be amazing.

Thank you all in advance!!

BorisThomson

That's a ridiculous amount. What are you planning to do with your Masters?

Neil_oliver

The university is the best in America for Art and Design, so it a prestigious name and has great connections to industry. I would hope to complete the degree and then do a year in industry before returning back to England to continue with teaching. I know that staying in England to complete a masters would be much cheaper, but making such a huge change to my life, the international study part is all part of the appeal that makes it worth while.

DCFC79

Other than the international study what is it the american study will provide that the uk alternative won't ?

Will you get a higher paying job in the UK ?

At some point you will have to realise the American dream just wont happen.

BorisThomson

Neil_oliver wrote: »

The university is the best in America for Art and Design, so it a prestigious name and has great connections to industry. I would hope to complete the degree and then do a year in industry before returning back to England to continue with teaching. I know that staying in England to complete a masters would be much cheaper, but making such a huge change to my life, the international study part is all part of the appeal that makes it worth while.

You're never going to recoup the costs of the study in teaching! Unless you go into senior management, in which case you won't be using it.

I'm all for studying for the love of it, but that level of investment is only worth it if you're going to benefit from it financially (unless you've got a spare £50K that you won't miss!).

Caz3121

Neil_oliver wrote: »

The problem is I am still around £20-22,000 short of being able to attend.

how long would it take you to save that amount? could you defer your place until then?

Candyapple

You are 33 years old. Where are your savings?

The cold harsh reality is unless you get the shortfall money via crowdfunding or you have rich parents who would be willing to help, your American dream will remain just that - a dream.

Sncjw

So you will spend £76,000 and get into debt to them just come back to teach again. The whole point in doing a course is to move on from what you are doing now.

You will just be unhappy drowning in debt.

jonesMUFCforever

Sncjw wrote: »

So you will spend £76,000 and get into debt to them just come back to teach again. The whole point in doing a course is to move on from what you are doing now.

You will just be unhappy drowning in debt.

It is 76000 dollars not pounds but still a ridiculous amount for a piece of paper.

Sncjw

Yes sorry Automatically for for the pound sign

Sncjw

How will you find your living costs, travel, eating and drinking and accommodation costs. Are these included in the of the costs of the course or will they be extra. Have you considered the visa process and what visa you need. Also would you be able to work as part of the visa?