The Deferred Action for Childhood Arrivals (DACA) program is a US immigration policy created by the Obama administration that allows undocumented individuals who entered the US before reaching their 16th birthday to receive temporary protection from deportation and work authorization. DACA recipients are allowed to apply for a two-year renewal, and those renewing their protections must provide proof of their continued presence and plan to re-enter the country lawfully, among other requirements.
While you may think you have a good understanding of student loans, you may be surprised by the variety of options available to you. With a variety of loan options, you can choose the repayment schedule that works best for you, the length of time you want to pay off your loan, and your interest rate. Below, you’ll find details on all of the different types of student loans, as well as some information about each.
According to custom-my-paper.com, DACA students may be eligible for a social security number, in addition to loans and financial aid. Social security number, or SSN, could be used for many purposes, including federal and private loans. DACA students may also be eligible for a work permit, which allows them to legally work in the United States.
If you are a Deferred Action for Childhood Arrivals (DACA) recipient and want to go to college, you may be wondering what your funding options are. Maybe you don’t know anyone who has gone through this process and you don’t know where to start. Unfortunately, DACA recipients are not eligible for federal student loans, but you still have options. Read on to learn more about financial aid for DACA students, eligibility, and DACA student loans.
DACA options for financial assistance
The first thing you should do is talk to your high school counselor or financial aid office. State financial aid may be available from the institution you wish to attend. In these cases, you may be required to complete the Free Application for Federal Student Aid (FAFSA) for the Student Aid Report (SAR) to receive aid from the school. If a counselor or financial aid agency asks you to fill out the FAFSA, you must enter your Social Security Number (SSN) and answer no to the question of whether you are a U.S. citizen.
The problem is that many undocumented students do not qualify for an SSN. But if you are a DACA-eligible person with an SSN, filling out the FAFSA should be the first step in seeing if you can get help from your institution. In some cases, DACA recipients may also be eligible for in-state tuition. More information on completing the form can be found on the Federal Student Aid website.
Financial assistance by state
Even if you don’t qualify for federal assistance, you may be able to get government assistance. You can check out this map from the National Association of Student Financial Aid Administrators, which lists available scholarships by state. The following states have enacted legislation that provides statewide training for undocumented immigrants:
- New Jersey
- New Mexico
- Big Apple
- District of Columbia
In 2018, five states supported legislation that would make DACA recipients eligible for financial aid:
- New Jersey
In addition, the following states have programs that provide financial assistance to DACA recipients:
- New Jersey
- New Mexico
DACA student loans from private lenders
Since federal aid is not available to DACA recipients – and only a few states offer aid – another option is a private DACA student loan. Some private lenders allow immigrants to get loans if they have a U.S. citizen as a co-borrower. A co-borrower is someone who agrees to act as a co-borrower and be legally liable for the loan if you miss payments. Discover offers private student loans for international students with a US citizen as guarantor. To be approved, the guarantor must also have a good credit rating.
MPOWER funding is another option designed specifically for international students. The good news is that you don’t have to have a co-borrower or credit history. Citizens Bank is another private student loan lender that offers private loans to international students – provided they have a guarantor with a high credit score who is also a US citizen or permanent resident. Ascent offers private student loans for international students. However, like most DACA student loans, you must have a guarantor who is a US citizen or permanent resident. One of the best options may be Stilt, a company that specializes in immigrant loans. The borrower does not need to have an SSN or be a guarantor.
Other financial options for DACA receivers
Some organizations offer financial assistance to DACA recipients. To get started, search the DREAMer’s Roadmap website for scholarship opportunities. You can also check out TheDream.US, an organization that partners with more than 70 colleges in 16 states to help DACA recipients go to college. Its mission statement reads as follows: We believe that nothing should stand in the way of higher education – not cost, not immigration status, not lack of financial support. Our scholarships can help you pay for college.
Another option is to visit the Dream Educational Empowerment Program resource page to find organizations that can provide support or financial assistance. You can also find out if personal lenders will approve your financing application. Another option is to move to a state like California where there is more support for DACA recipients. You have to move and get a residence permit, but then you can get more financial assistance.
If you are a DACA recipient, it can be stressful to pay your tuition. They do not have the same opportunities as other students. This can lead to feelings of isolation and frustration. There are several private lenders that offer loans, such as. B. You know, you could also try Stilt. A DACA recipient interviewed by Student Loan Planner® asked his wife to act as a guarantor and received a loan from Citizens Bank. This borrower could get $120,000 with an APR of 7-8% for 10-15 years. There is an option for non-residents, and filing Form I-766 is an option for eligible applicants. Another borrower we spoke with asked a friend to borrow with us and got a $10,000 student loan through Discover.
The advice they gave to DACA students is to find the right bank and guarantor to help you with your situation. If possible, you should deposit cash. Think about your current assets, such as. B. Your house and your car. Can you get a second mortgage? Sell the car? Borrowing money from a relative? You can also use personal lenders. Paying tuition can be difficult, but don’t give up. You are not alone, and there are organizations that can help you, as well as some states that offer assistance. Refinance your student loan and receive a bonus in 2021.
Frequently Asked Questions
Can DACA students take out student loans?
The Deferred Action for Childhood Arrivals (DACA) Program is a temporary immigration status that allows certain people who were brought to the United States as children to stay in the country temporarily and attend school, work, and health care without fear of deportation. To qualify for DACA protection, an applicant must have arrived in the United States before he or she was 15 years old, and a DACA application must be approved between June 15, 2007 and September 5, 2012. After September 5, 2012, the DACA application process is no longer available.
Sadly, for many DACA-eligible applicants, this is not the end of the road to a DACA-protected student loan. The Deferred Action for Childhood Arrivals program (DACA) was created by President Obama as a temporary measure in 2012 to allow young people who entered the country illegally as children to obtain work permits and remain in the country, without the fear of deportation. As of 2018, nearly 800,000 young immigrants have received this protection, although as a result of the Trump administration’s decision to end the program, the fate of the recipients, as well as their parents, remains in limbo.
What kind of financial aid is available for DACA students?
In September 2017, the Trump administration announced a new policy that would end Deferred Action for Childhood Arrivals (DACA). This policy would lead to the deportation of around 800,000 undocumented immigrants, including approximately 12,000 New Mexican DACA students. In New Mexico, about 7,000 DACA students are currently enrolled in college or university. President Trump announced that he was ending the Deferred Action for Childhood Arrivals (DACA) program a few weeks ago. This program protected 800,000 undocumented immigrants from deportation. You may have heard that this program, along with Temporary Protected Status (TPS) for individuals from certain countries, will end on March 5, 2018.
Can DACA recipients apply for loans?
The Deferred Action for Childhood Arrivals, or DACA, is a presidential executive order that protects Dreamers, undocumented immigrants who were brought to the United States as children. This executive order has allowed for hundreds of thousands of undocumented children to obtain work permits and avoid deportation, while also giving them the chance to obtain a college education and pursue a degree. The DACA program is under threat by a Trump administration which has made it clear that it will not extend the protections of DACA for any new applicants.
President Trump is expected to announce a final decision for the future of the program this month, and has signaled that the program will be ended. Since March 6, 2016, DACA recipients have been able to apply for two types of work permits: During the Obama presidency, DACA (Deferred Action for Childhood Arrivals) was extended to cover hundreds of thousands of undocumented immigrants from countries other than Mexico, mostly adults who came to America as children. The Trump administration has rescinded the program, which has left many DACA recipients in danger of deportation.