Studying in the United States can be a major investment. Between tuition, housing, health insurance, books, transportation, and living expenses, many international students need funding beyond personal savings and scholarships.
The challenge is that most international students are not eligible for U.S. federal student aid. In most cases, students on F-1 or J-1 visas must rely on private student loans, university scholarships, sponsorships, or loans from their home country.
This guide explains the best student loan options for international students in the USA, including loans with and without a U.S. cosigner, how to compare lenders, and how to avoid borrowing more than you can realistically repay.
Can International Students Get Student Loans in the USA?
Yes, international students can get student loans in the United States, but eligibility is more limited than it is for U.S. citizens and permanent residents.
Most international students cannot receive federal student loans through FAFSA. However, private lenders may offer loans if the student meets their requirements. The biggest deciding factor is usually whether the student has a creditworthy U.S. citizen or permanent-resident cosigner.
A few specialist lenders offer loans without a U.S. cosigner, but these loans often have stricter school eligibility requirements, higher interest rates, or are limited to graduate students.
Before borrowing, students should also check their university’s financial-aid office. Some schools have institutional loans, emergency grants, tuition-payment plans, or partnerships with lenders that are not widely advertised.
Best Student Loans for International Students in the USA
1. MPOWER Financing — Best for International Students Without a U.S. Cosigner
MPOWER Financing is one of the best-known student loan providers for international students studying in the United States and Canada.
Unlike many traditional private lenders, MPOWER does not require a U.S. cosigner or collateral. Instead, it evaluates factors such as your academic program, school, career potential, and future earning prospects.
MPOWER states that eligible borrowers may access fixed-rate loans from approximately $2,001 up to $100,000 total, depending on eligibility and school certification. Its loans are available only at participating schools, so students should confirm that their university is on the lender’s approved list before relying on this option.
Best for:
- F-1 international students without a U.S. cosigner
- Graduate students and upper-level undergraduate students
- Students attending an eligible U.S. university
- Borrowers who prefer fixed interest rates
Potential drawbacks:
- Not every university is eligible
- Interest rates can be higher than a strong cosigned private loan
- Loan approval is not guaranteed, even after an initial conditional offer
2. Prodigy Finance — Best for International Master’s and MBA Students
Prodigy Finance is a specialist lender focused largely on international postgraduate students, particularly students enrolled in eligible master’s, MBA, engineering, public-policy, and other graduate programs.
Prodigy Finance generally does not require a U.S. cosigner or U.S. credit history. Instead, it uses a future-income approach, considering the school, degree program, country of residence, and likely career outcomes after graduation.
According to recent lender comparisons, Prodigy Finance is primarily available to students in eligible graduate programs and partner schools. Its loans may include a variable interest rate and fees, so students should carefully review the full cost of borrowing before accepting an offer.
Best for:
- International MBA students
- Master’s and graduate students
- Students without a U.S. credit history
- Borrowers attending a Prodigy-supported university
Potential drawbacks:
- Usually not available for undergraduate students
- Only certain schools and programs qualify
- Variable rates can increase over time
- Fees may raise the total cost of borrowing
3. Ascent Funding — Best for International Students With a U.S. Cosigner
Ascent Funding offers private student loans for eligible international undergraduate and graduate students attending U.S. schools.
For international students, Ascent generally requires a qualified U.S. citizen or permanent-resident cosigner. The cosigner must meet the lender’s credit and income requirements. In exchange, students may have access to several repayment options, including deferred repayment, interest-only payments, low in-school payments, and immediate repayment.
Ascent says its international student loans can cover eligible education expenses up to the school-certified cost of attendance, including tuition, housing, books, and related costs. It also offers multiple repayment terms and may provide a post-school grace period before full repayment begins.
Best for:
- International undergraduate students
- International graduate students
- Borrowers with a strong U.S. citizen or permanent-resident cosigner
- Students who want flexible repayment structures
Potential drawbacks:
- A U.S. cosigner is required for international borrowers
- Final rates depend heavily on the cosigner’s credit profile
- Variable-rate loans can become more expensive if market rates rise
4. Sallie Mae — Best for Students With a Strong U.S. Cosigner
Sallie Mae is one of the largest private student loan lenders in the United States. It offers undergraduate, graduate, medical-school, law-school, MBA, and career-training loan products.
International students may qualify, but typically need a creditworthy U.S. citizen or permanent-resident cosigner. This can make Sallie Mae a useful option for students whose parents, relatives, or trusted contacts in the U.S. are willing and able to cosign.
Private-loan rates, terms, and repayment options vary based on creditworthiness, school certification, loan type, and whether the borrower chooses fixed or variable interest. Recent comparisons list Sallie Mae among major options for international students with eligible cosigners.
Best for:
- Students with a highly qualified U.S. cosigner
- Undergraduate and graduate students
- Students attending schools with broad lender acceptance
- Borrowers comparing fixed and variable-rate options
Potential drawbacks:
- A U.S. cosigner is generally required
- The lowest advertised rates may only be available to highly qualified borrowers
- Private loans do not provide the same protections as federal student loans
5. College Ave — Best for Flexible Repayment Terms
College Ave Student Loans is another private lender that may be an option for international students who have a qualified U.S. cosigner.
College Ave is known for offering different repayment structures, including full principal-and-interest payments, interest-only payments, flat in-school payments, and deferred repayment. This flexibility can help students choose a payment structure that fits their budget while they are enrolled.
However, international applicants should confirm the lender’s current residency, visa, and cosigner requirements before applying.
Best for:
- Students with a U.S. citizen or permanent-resident cosigner
- Borrowers who want repayment flexibility
- Graduate students who may need longer transition time after graduation
Potential drawbacks:
- International eligibility can depend on current lender policy
- A qualified cosigner is typically required
- Deferred repayment can increase total interest costs
6. Citizens Bank — Best for Multi-Year Borrowing
Citizens Student Lending may be worth considering for international students with a qualified U.S. cosigner, especially students who expect to borrow for more than one academic year.
Some private lenders offer multi-year approval features that can reduce the need to complete a full new application every year, although students may still need to provide updated school and financial information.
As with other traditional lenders, international students should expect cosigner requirements and should compare the total loan cost—not only the monthly payment.
Best for:
- Students with a U.S. cosigner
- Students planning to borrow across multiple academic years
- Borrowers who want to compare long-term loan options
Potential drawbacks:
- Eligibility depends on credit approval
- A U.S. citizen or permanent-resident cosigner is generally needed
- Interest rates and loan terms can vary significantly by applicant
International Student Loan Comparison Table
| Lender | U.S. Cosigner Required? | Best For | Student Level | Important Note |
|---|---|---|---|---|
| MPOWER Financing | No | Students without a U.S. cosigner | Eligible undergraduate and graduate students | Available only at participating schools |
| Prodigy Finance | No | MBA and master’s students | Graduate students | Limited to eligible programs and partner schools |
| Ascent Funding | Usually yes | Students with a strong U.S. cosigner | Undergraduate and graduate students | Offers several repayment options |
| Sallie Mae | Usually yes | Broad private-loan availability | Undergraduate, graduate, and professional students | Rates depend on borrower and cosigner credit |
| College Ave | Usually yes | Flexible repayment plans | Undergraduate and graduate students | Confirm international eligibility before applying |
| Citizens Bank | Usually yes | Multi-year borrowing | Undergraduate and graduate students | Compare annual and total borrowing costs |
How to Choose the Best International Student Loan
The best student loan depends on your visa status, school, degree level, country of citizenship, access to a cosigner, and expected income after graduation.
When comparing international student loans, focus on the following factors:
1. Cosigner Requirements
A U.S. citizen or permanent-resident cosigner can improve your approval odds and may help you qualify for a lower interest rate.
However, cosigning is a serious legal responsibility. If you miss payments, the cosigner can be held responsible for the debt. Make sure both you and your cosigner understand the repayment obligation before signing.
2. Fixed vs. Variable Interest Rates
A fixed-rate loan keeps the same interest rate throughout the repayment term. This makes monthly payments more predictable.
A variable-rate loan can start lower, but the interest rate may rise or fall over time. For international students who may already face uncertainty after graduation, fixed rates can be easier to budget for.
3. Total Cost of Borrowing
Do not choose a loan based only on the monthly payment. Look at:
- Interest rate and APR
- Origination fees
- Administrative fees
- Repayment term
- Grace period
- In-school payment requirements
- Late fees and default consequences
- Whether the loan has a prepayment penalty
A longer repayment term may reduce your monthly payment but can substantially increase the total interest you pay.
4. School and Program Eligibility
No-cosigner lenders often work only with approved universities and degree programs. Before applying, check whether your school is eligible.
This is especially important for graduate students considering Prodigy Finance or students considering MPOWER Financing.
5. Repayment Flexibility
Look for lenders that offer options such as:
- Deferred repayment while in school
- Interest-only payments
- Low fixed in-school payments
- Grace periods after graduation
- Temporary hardship assistance
- No prepayment penalties
Paying at least the interest while in school can reduce the amount added to your balance after graduation.
Can International Students Get Federal Student Loans?
Most international students cannot receive federal student loans. Federal aid is generally reserved for U.S. citizens, U.S. nationals, lawful permanent residents, and certain eligible noncitizens.
Some students may qualify if they fall into a special immigration category, but students on standard F-1 and J-1 visas usually do not qualify.
For this reason, international students should explore multiple funding sources before relying on private loans:
- University scholarships
- Merit-based scholarships
- Assistantships and research positions
- Teaching assistant roles
- Employer sponsorship
- Government scholarships from their home country
- Loans from banks in their home country
- Family support
- Tuition installment plans
For more funding ideas, see our guide on scholarships for international students in the USA.
Tips Before Applying for an International Student Loan
Apply Early
Loan processing can take time, especially when lenders need to verify enrollment, visa documents, identity, school costs, and cosigner information. Start researching several months before tuition is due.
Compare Multiple Offers
Do not accept the first loan offer you receive. Compare APR, fees, repayment terms, and the total amount you will repay over time.
A lender with a slightly higher monthly payment may still be cheaper overall if it has a lower APR or shorter repayment term.
Borrow Only What You Need
Private student loans can cover tuition and living expenses, but borrowing for every expense can create a large repayment burden after graduation.
Use scholarships, savings, on-campus work opportunities, and university payment plans before borrowing more.
Read the Loan Agreement Carefully
Before signing, review the promissory note and confirm:
- The interest rate type
- Whether the rate is fixed or variable
- All fees
- When repayment begins
- Whether interest accrues while you are in school
- What happens if you leave school, transfer, or lose visa status
- What hardship options are available
Frequently Asked Questions
Can international students get loans without a cosigner?
Yes, but options are limited. MPOWER Financing and Prodigy Finance are among the better-known lenders that may lend to eligible international students without a U.S. cosigner. Eligibility depends on your school, program, country of citizenship, and other underwriting factors.
Can an F-1 student get a private student loan?
Yes. F-1 students may qualify for private student loans, especially if they have a creditworthy U.S. citizen or permanent-resident cosigner. Some specialist lenders may offer no-cosigner loans to students at approved schools.
Do international students need a Social Security number to get a student loan?
Not always. Some international-focused lenders do not require a U.S. credit history or Social Security number. Traditional private lenders may have different requirements, particularly when a U.S. cosigner is involved.
Is MPOWER better than Prodigy Finance?
Neither lender is automatically better for everyone. MPOWER may be more useful for eligible students who need a no-cosigner loan and attend a participating school. Prodigy Finance is often more relevant for eligible graduate and MBA students at partner universities.
Compare your actual loan offers, including APR, fees, repayment term, school eligibility, and total repayment amount.
Can international students get FAFSA?
Most international students cannot receive federal financial aid through FAFSA. However, completing school-specific financial-aid forms may still help students qualify for institutional scholarships or grants.
Final Thoughts
The best student loans for international students in the USA are usually those that match your specific situation—not simply the lender with the lowest advertised rate.
If you do not have a U.S. cosigner, start by checking MPOWER Financing and Prodigy Finance. If you have a strong U.S. citizen or permanent-resident cosigner, compare Ascent, Sallie Mae, College Ave, Citizens Bank, and other private lenders.
Most importantly, borrow carefully. Private student loans can help make a U.S. education possible, but they can also create a long-term financial obligation. Compare offers, understand the total repayment cost, and use scholarships and university funding whenever possible.