Elijah has an opportunity to study abroad, but this will cost $5000 more than his regular college tuition. He wants to have a career in international finance when he graduates, so this opportunity will be particularly valuable for his career. His parents encourage him to go and tell him that they will help pay back the loan next year when they are done paying his brother’s college tuition. What kind of loan should Elijah get?
Elijah should consider taking out a student loan specifically designed for studying abroad. These types of loans often have favorable terms and conditions for students studying in other countries. Additionally, he could also explore options for scholarships, grants, or other financial aid specific to studying abroad. It's important for Elijah to research and compare different loan options to find the best fit for his situation.
