Before you get all excited about the thought of obtaining an international student loan so that you can attend college at some exotic university in Beijing or Paris, hang onto your laptop. There are rules and regulations when it comes to these types of loans, and they are also extremely difficult to obtain. However, for the determined and the focused, there are ways to achieve the seemingly impossible. First, know the rules and regulations, and there's a ton of them.

First, in order to obtain an international student loan, you must be enrolled, or in the process of enrolling, at a foreign university or college program that is approved by the Education Resources Institute. Log onto their website for additional information that pertains to your needs. Then, keep in mind that you must be a United States citizen in order to have your application even accepted, let alone approved. And if you thought there was a lot of paperwork for your typical neighborhood college or university, just wait until you get the packet of paperwork for this type of student loan!

A peek into what will be needed is full contact information, full financial information, and that means don't keep any secrets. Parents are likely to groan when they see what needs to be done. The approving authorities are going to want to know about your mortgage, your credit history, present and past occupations and employer information for verification purposes. They're also going to want to know your gross yearly income and references. Students will be asked to provide proof of enrollment, most likely in the form of an acceptance letter or class schedule from the school they plan on attending.

In addition, a co-signer is often asked for. They must be able to verify a credit history for at least 21 months prior to the time of application, as well as proof of citizenship or permanent resident status. They also will be required to provide proof of income as well as a two year employment history, whether they're self-employed or not. That's just the beginning, and by the time you're done filling out the necessary papers and forms, there will be no such thing as a private aspect of your life.

However, balance all that with the benefits of attending a foreign university, and you may just have gotten yourself a deal. Oh, but don't forget that credit ratings for that international student loan are going to be based on your credit history rating, and that fees will depend on how much of a loan you're asking for. Nevertheless, the look in your son or daughter's eyes when that loan is finally approved makes it all worthwhile.

When applying for such a student loan, try to fill out the initial application as soon as they become available for the school year or semester that the student is accepted for. The red tape, processing and waiting times can be excruciatingly slow, so try to get a jump on the thousands of applications that are filed every year.