Student Loans for International Students: Top Options for Non-U.S. Citizen Borrowers

Finding a student loan as an international student can be challenging because you must be a U.S. citizen to qualify for federal student loans and aid. Because of this, international students often must turn to private student loans to finance their education.

The good news is that several private student loan options are available. We’ve identified four lenders that offer tailored solutions depending on your needs, such as if you have a cosigner, are a grad student, or are a DACA student. This guide will help you navigate your options. Keep reading to find out which lender is the best fit for you.

Reviews of the best international student loans

Adding a cosigner to a private student loan can improve your application and lead to lower rates. For this reason, we recommend international students try to add a cosigner to their loan to ensure the best terms.

Here are our picks for the best international student loans:

• Best for U.S. cosigners: College Ave
• Best for graduate school: Earnest
• Best for no cosigner: MPOWER
• Best for DACA students: Ascent

College Ave

Best for U.S Cosigners

5.0 _/5

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Why it’s one of the best

College Ave is a Wilmington, Delaware-based lender that offers student loans to undergraduates, graduates, parents, and those seeking career training. International students with a U.S. Social Security number and a U.S. cosigner can get loans through College Ave.

You can use its student loans to pay for undergraduate or graduate studies, master’s degree programs, medical school, dental school, and law school. Loan terms range from five to 15 years and College Ave offers several repayment options, including interest-only, deferred, and flat payments.

Loans can cover up to 100% of the school-approved cost of attendance.

• Must have a cosigner who is a U.S. citizen or permanent resident
• Must have a U.S. Social Security number as a borrower
• You choose your repayment plan and term

Loan details

Fixed rates (APR)	3.49% – 12.99%
Variable rates (APR)	1.19% – 11.98%
Rate discount	0.25% for automatic payments
Loan amount	$1,000 – 100% of the school-certified cost of attendance
Repayment plans	Full, interest-only, $25 fixed, or deferred
Repayment term	5, 8, 10, or 15 years

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Earnest

Best for Graduate School

4.7 _/5

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Why it’s one of the best

Earnest is a fintech company headquartered in San Francisco that offers student loans, student loan refinancing, credit cards, and personal loans to eligible borrowers. International students can take out a student loan from Earnest for graduate school with or without a cosigner.

The platform is fee-friendly, with no origination fees or prepayment penalties. Earnest offers some of the lowest interest rates for private student loans for creditworthy borrowers who enroll in automatic payments.

Once borrowers have made at least six consecutive, on-time payments toward their loans they can apply for the skip-a-payment feature. That benefit allows you to skip one payment toward your loans every 12 months.

• Must have a cosigner who is a U.S. citizen or permanent resident
• Borrowers must have a U.S. Social Security number
• No origination, application, prepayment, or late fees
• Check your rate without affecting your credit

Loan details

Fixed rates (APR)	3.24% – 12.78%
Variable rates (APR)	0.94% – 11.44%
Rate discount	0.25% for automatic payments
Loan amount	$1,000 – 100% of the school-certified cost of attendance
Repayment plans	Full, interest-only, $25 fixed, or deferred
Repayment term	5, 7, 10, 12, or 15 years

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MPOWER

Best for No Cosigner International Loans

4.6 _/5

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Why it’s one of the best

MPOWER Financing is a private lender that offers fixed-rate student loans for international students attending college in the U.S. The company doesn’t require cosigners, credit history, or collateral on its loans. All degrees and majors are supported.

Factors MPOWER considers to determine eligibility include the school the student will be attending, their expected graduation date, their grades, and any internship or work experience in their field. MPOWER also looks at future earnings to monitor whether the student has too much debt.

Loans can be repaid online in any currency without prepayment penalties. MPOWER offers interest-only payments while in school and during the six-month grace period after graduation. On-time payments can help build U.S. credit history.

1. Students don’t need a cosigner to be approved
2. Available to all international and DACA students from 190+ countries
3. Offers free visa support letters and career strategy services

Loan details

Fixed rates (APR)	13.98% – 17.08%
Rate discount	0.25% for automatic payments
Loan amount	$2,001 – $100,000 (lifetime limit)
Repayment plans	Interest-only
Repayment term	10 years

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Ascent

Best for DACA Students

4.4 _/5

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Why it’s one of the best

Ascent is a San Diego-based company that began offering private student loans in 2015. The platform extends student loans to DACA recipients, international students, and U.S.-based students seeking undergraduate and graduate degree funding. 

International students need a cosigner to get a student loan through Ascent. If the primary borrower is a U.S. citizen or has U.S. permanent resident status, cosigners can be released from the loan after 12 on-time payments.

Loan terms for international students range from five to 15 years, with in-school interest-only repayment available. Students can defer repayment for up to nine months after leaving school.

• Must have a cosigner who is a U.S. citizen or permanent resident
• Eligible borrowers include U.S. citizens and permanent residents, as well as DACA recipients
• Get 1% cash back upon graduation
• Checking your rate doesn’t affect your credit

Loan details

Fixed rates (APR)	3.69% – 15.21%
Variable rates (APR)	5.99% – 15.95%
Rate discount	0.25% for automatic payments
Loan amount	$2,001 to $200,000
Repayment plans	Interest-only, $25 fixed, or deferred
Repayment term	5, 7, 10, 12, or 15 years

Who is considered an international student?

According to UNESCO, an international student is an individual enrolled in and attending school outside the borders of their home country. Colleges and universities may be more specific in their definitions. 

At UC Berkeley, for example, an international student is a non-immigrant visitor who comes to the U.S. temporarily to take classes. Under this definition, a non-immigrant is someone who is not a U.S. citizen or permanent resident. These students typically have F-1 student visas, though schools may also accept students with other visa statuses, such as H4 or L2.

Why is it hard for international students to get student loans?

U.S. citizens have the Free Application for Federal Student Aid (FAFSA) they can fill out to learn about their financial aid resources. International students don’t have that all-in-one approach because they typically aren’t eligible for federal assistance, which includes federal student loans.

International students generally can’t get federal student loans unless they’re eligible noncitizens, or they or their parents have T non-immigrant status. This status is granted to victims of human trafficking. Department of Education rules also disqualify students with Deferred Action for Child Arrivals (DACA) status from receiving federal aid.

Private student loans may be an option for international or DACA students, but there’s a catch. Unlike federal loans, qualification for private student loans often hinges on you or your cosigner’s credit score and income. International students who don’t have a U.S. credit history or a cosigner with a U.S. credit history may find it more difficult to get approved.

For those reasons, 73% of international students in the U.S. rely on resources outside the U.S. to finance their education, such as from family members, their home country’s government or universities, or their own personal funds, according to the Institute of International Education.

What does it mean to be an eligible noncitizen?

An eligible noncitizen is someone who is not a U.S. citizen but qualifies for certain federal financial aid programs, including student loans. To be considered an eligible noncitizen, you typically need to have one of the following:

• Permanent resident status (holding a Green Card)
• Refugee or asylum status
• T non-immigrant status (for victims of human trafficking)
• A valid visa or certain other noncitizen statuses, such as being a Cuban-Haitian entrant

Eligible noncitizens can fill out the FAFSA and may qualify for federal loans and grants, unlike most international students.

Additional financial aid options for international students

While international students are often not eligible for U.S. federal financial aid, that doesn’t mean you’re out of options. You can still reduce the amount you borrow by exploring scholarships, institutional aid, and school discounts.

These alternatives can help pay for your education without taking on debt. Many scholarships and institutional aid packages don’t need to be repaid, making them an ideal first step before considering student loans.

Here’s a quick comparison of the most common financial aid options:

Aid Option	Who is it for?	Key benefits
Scholarships	Students with academic achievements, talents, or need	Does not need to be repaid
Institutional aid	International students with special talents or skills	Offered by select schools; may be merit-based
School discounts	Students meeting specific criteria, such as need-based	Tuition waivers, reduced housing, or fee discounts

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Scholarships for international students

The internet is a great resource for finding databases that provide lists of scholarships through private, corporate, nonprofit, and government organizations for international students.

We have many resources dedicated to scholarship offerings. Here is our scholarship guide.

Financial aid from educational institutions

Not many educational institutions provide direct aid to international students, but some will. Typically that aid will be based on academic accomplishments, special skills, talents, or abilities.

Colleges that want to attract top talent across the globe will give direct assistance to international students. Check out our study of which colleges give international students the most financial aid to see some of the best options.

When an international student has a particular college in mind, they should contact the school’s admissions department to see what financial aid options are available.

If an international student is already enrolled in a U.S. university, but they need more financial assistance, they should contact the international student advisor or the financial aid office.

School discounts for international students

International students may save money on education expenses by attending a school that offers tuition reductions or other discounts. These discounts can take the form of need-based tuition waivers or reduced housing rates for international students who are required to live on campus.

Reaching out to the school’s financial aid department can be the best way to find out what discounts, if any, might exist for international students. That’s also an opportunity to ask about any scholarships or grants available to incoming students from other countries. 

How to get an international student loan

Step 1: Estimate costs

International students planning to attend school in the U.S. should first understand the estimated costs. That includes researching education expenses, such as tuition, fees, and books, as well as daily living expenses for different schools and locations. 

Step 2: Weigh financial aid options

The next step is weighing different options for financial aid, including scholarships, grants, and private student loans. Scholarships and grants don’t need to be repaid, so it’s important to explore those avenues first to minimize the amount borrowed. Many scholarships and grants have deadlines to apply. 

Step 3: If taking out student loans, compare lenders

If student loans are necessary to pay for school, take your time to compare lenders. Find out whether a cosigner is required, how much you can borrow, the interest rates, and what fees may apply. If a cosigner is required for an international student loan, it’s better to know that sooner so you have time to find a suitable candidate. 

Step 4: Apply

Once you’ve selected a lender, be prepared to gather the necessary documentation before applying. International student loans often require detailed proof of identity, income, and education. Here’s what you might need to provide during the application process:

• Proof of identity: A valid passport or visa to confirm your student status.
• Cosigner information: If a cosigner is needed, you’ll need their financial details and Social Security number (if applicable).
• Proof of enrollment: An official letter from your school confirming acceptance and attendance.
• Financial information: Bank statements, proof of funds, or other financial documentation to demonstrate your ability to repay the loan.
• Academic history: Some lenders may request your transcripts or grades to confirm eligibility.

Once your application is submitted, lenders typically review your documents and may request additional information. Be prepared for this process to take a few weeks.

If approved, funds will be sent directly to your school to cover tuition and fees, with any remaining amounts available to cover living expenses.

How repayment works on an international student loan

Repaying an international student loan can be slightly different from repaying a traditional U.S. student loan, depending on the lender and your location. Here’s what to expect:

Repayment requirements

Most international student loans come with a grace period, typically six to nine months after graduation, during which you’re not required to make payments. This allows you time to find a job and establish financial stability before repayment begins. However, interest may still accrue during this period.

Repayment terms typically range from five to 20 years, and the amount of your monthly payments will depend on the loan balance, interest rate, and repayment plan you choose. Some lenders offer options like interest-only payments while you’re still in school, which can help reduce the overall cost of the loan.

Repayment if you move out of the country

If you move back to your home country or another location after completing your studies, you’re still required to repay your international student loan.

Some lenders allow payments in different currencies, while others require payments in U.S. dollars, so it’s important to clarify these details with your lender ahead of time. Be aware that currency fluctuations could impact the total cost of your loan if you’re repaying from abroad.

Default risks and credit

If you fail to make payments, your loan may go into default, which can have serious financial consequences. Even if you’re no longer living in the U.S., defaulting on an international student loan can damage your U.S. credit history, affect future visa applications, and limit your ability to borrow money in the future.

It’s essential to stay in communication with your lender if you anticipate any difficulties with repayment. Some lenders may offer hardship options or deferment, though these options vary.

Additional resources for international students

Securing financial aid as an international student is challenging, but it’s possible. It’s crucial not to wait until the last minute. Here are more specific student loan resources for international students:

• Student loans for H4 visa holders
• Student loans for immigrants
• Student loans for temporary residents
• DACA student loan options
• Student loans without a cosigner

FAQ

Can I use international student loans outside the United States?

No, international student loans are not intended for use outside the United States. After the government sends the funds to the educational institution and all applicable tuition and fees are settled, the remaining funds are meant to cover the student’s living expenses and other educational costs during their studies in the U.S.

Do international student loans cost more than traditional student loans?

Yes, international student loans are more expensive than traditional student loans due to higher interest rates, which are often higher than the rates on federal loans available to U.S. citizens. 

Origination fees might also apply, and currency exchange fees or fluctuating exchange rates can further affect the total cost of the loan.

Private student loans can be an option for international students, but unlike federal loans, eligibility for private student loans depends on the credit score and income of the student or their cosigner. This makes it more challenging for international students without a U.S. credit history—or a cosigner with a U.S. credit history—to get approved.

Are there multiple types of international student loans?

Several international student loans are accessible to those planning to study in the United States or other countries. These include foreign government loans, international private loans, institutional loans, and study abroad loans. These loans are tailored to support international students and aim to cover the expenses of studying abroad.

Are students from every country eligible for international student loans?

Each lender has unique policies, so we recommend checking with several student loan companies.

How we selected the best international student loans

LendEDU evaluates student loan lenders to help readers find the best student loans. Our latest analysis reviewed 725 data points from 25 lenders and financial institutions, with 29 data points collected from each.

This information is gathered from company websites, online applications, public disclosures, customer reviews, and direct communication with company representatives. These star ratings help us determine which companies are best for different situations. We don’t believe two companies can be the best for the same purpose, so we only show each best-for designation once.

Recap of the best international student loans