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How to apply SoFi loans for international students?

The counselors there are probably knowledgeable about typical difficulties faced by overseas students, such as obtaining a Social Security number.

How an international student can apply for SoFi loans?

Take a look at the Social Security Administration’s instructions, and don’t be hesitant to ask a member of your school’s international student office for help. The counselors there are probably knowledgeable about typical difficulties faced by overseas students, such as obtaining a Social Security number. Try to obtain an ITIN from the IRS if you are experiencing problems obtaining a Social Security number instead.

Although the IRS provides instructions for obtaining an ITIN as a foreign student, your international student office may most likely advise you through the procedure.

Making Credit Card Applications –

The question of how an overseas student might obtain a credit card may come to mind once you’ve obtained a Social Security number (or an ITIN). Find appropriate credit card offers first.

READ: SoFi personal loans eligibility criteria and approval time

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How to Apply for a Credit Card as an International Student?

Here are some pointers to increase your chances of being accepted:

  1. Establish a bank account.

Your chances of succeeding can increase if you have a checking or savings account. Additionally, it makes managing your finances easier when you’re in the US.

2. Pick up a side job.

You might need to have a job in order to obtain your Social Security number. A consistent source of income shows creditors that you are trustworthy enough to borrow money from. Simply confirm with your advisor that you are eligible to look for work as an international student.

3. Take a look at secured credit cards.

Secured credit cards demand a security deposit, which is frequently equal to the card’s credit limit. If you responsibly use your secured credit card for several months and the cards are backed by collateral, you may have a good enough credit score to qualify for an unsecured card. To assure an impact on your credit score, just make sure the card issuer reports usage of the secured card to the credit bureaus.

Harish Yadav

Harish Yadav is the regular reader of different newspapers and articles and writes about Financing and Investments. He also often writes for breaking news.

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