Tuesday, June 19, 2007
Increase in rates on federal loans in USA & New subcategory for J-1 visa proposed
As reported by BusinessWeek.com
This year federal student loan rates increase in USA is one of the smallest increases on record. Both Stafford and PLUS loans go 0,08% up, which approximately equals to $1 increase a month for loan borrowers with $20,000 in debt. By comparison, last year the rates rose by 1,8%.
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State Department proposed a new subcategory for holders of J-1 student visa. The new subcategory will enable international business students to apply for internships up to 1 year long. Currently, J-1 visa holders are also able to apply for internships in USA; however, the new subcategory will ease the process in terms of bypassing certain general requirements for applicants for temporary work permits.
Still, experts state that J-1 visa holders are in less privileged position compared to F-1 competitors, as the majority of employers believe that J-1 holders have limited potential for continued employment. This is due to the fact that in many cases J-1 visa forces students to take the burden of staying out of the country for two years following expiration of their visas.
This year federal student loan rates increase in USA is one of the smallest increases on record. Both Stafford and PLUS loans go 0,08% up, which approximately equals to $1 increase a month for loan borrowers with $20,000 in debt. By comparison, last year the rates rose by 1,8%.
***
State Department proposed a new subcategory for holders of J-1 student visa. The new subcategory will enable international business students to apply for internships up to 1 year long. Currently, J-1 visa holders are also able to apply for internships in USA; however, the new subcategory will ease the process in terms of bypassing certain general requirements for applicants for temporary work permits.
Still, experts state that J-1 visa holders are in less privileged position compared to F-1 competitors, as the majority of employers believe that J-1 holders have limited potential for continued employment. This is due to the fact that in many cases J-1 visa forces students to take the burden of staying out of the country for two years following expiration of their visas.
# posted by Nat4mba : 12:09 PM
