Pan-European Student Loans? Too Complicated
We often talk about loans for international students coming to the US, which are readily available if you have a US co-signer. US students going abroad can also access loans. However, in many parts of the world, student loans are not available at all. Even in Europe, efforts to create a pan-European student loan have been thwarted by complex regulations, as this story from the New York Times illustrates:
When Ivailo Vasilev of Bulgaria was accepted at the London School of Economics two years ago, he calculated that he would need tens of thousands of British pounds that he did not have as a recent university graduate to pay tuition and other costs.
So he decided, like countless others, to take out a student loan. It would be more complicated than he expected. He was not eligible for a student loan in Britain because he did not fulfill a three-year residency requirement, but there were few options in his home country.
Read the rest of the story in the New York Times