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Hi, I am a new grad. I wanted to know is there a way to take a loan from US and pay back my student loan in India. I wish to get tax benefits/save myself from price arbitration
You can't. Only option is personal loan but that has higher interest rate. You could have taken a student loan in US when you were in school. But not now.
How much higher % are the personal loans compard to student loans usually? Would it increase my credit in long term?
There is a smaller limit on personal loans. You can look up interest rates from credit unions on personal loans. It would help your credit history. But I guess there are better ways to improve your credit history than this.
Take a 0% balance transfer credit card pay let’s say $10k on you India loan and then make $1k per month to pay that credit card off. Saves you a year of interest.
Will Balance transfer work for INR?
It’s too late to say this now since you have already graduated but there are some startups which offer collateral free loans to foreign students in USD at lower interest rates. You should have taken a loan from them. Prodigy finance, stilt etc. At one point of time I wanted to do a startup like that. But Trump’s immigration policies killed my dreams and I could not convince the investors when I pitched my idea.
Dont they require a USA resident signature?
Nope
How much is your loan? Live miser for a year and pay off I’d say
This was plan B. But given so low interest rate are in US as well as it would help me increase my credit. I was thinking of this.