If you’re an international student in the USA, getting a loan can be more challenging—but it’s possible. There are specific loan programs for international students offered by certain lenders and universities, especially if you don’t have a U.S. co-signer.
🎓 Types of Loan Programs for International Students in the U.S.
1. Loans With a U.S. Co-Signer
Many private lenders require a creditworthy U.S. co-signer (usually a U.S. citizen or permanent resident).
✅ Examples:
| Lender | Features |
|---|---|
| Citizens Bank | Fixed/variable rates, co-signer required |
| Sallie Mae | Available for undergrad and grad students |
| Discover | Offers rewards for good grades, U.S. co-signer needed |
2. Loans Without a Co-Signer
Some lenders now do not require a U.S. co-signer, but they assess academic background, career potential, and country of origin instead.
✅ Best Known No Co-Signer Loan Options:
| Lender | Features |
|---|---|
| MPOWER Financing | No co-signer required, for juniors/seniors and grad students at select schools |
| Prodigy Finance | For graduate programs in business, engineering, law, public policy, and health |
| Leap Finance | Loans for Indian students attending top U.S. graduate programs |
📋 General Eligibility Requirements
- Must be enrolled full-time at an eligible U.S. school
- Have a valid student visa (F-1, J-1, etc.)
- Demonstrate academic progress and expected graduation date
- Some lenders only offer loans to students from specific countries
💡 Loan Terms to Know
| Term | Description |
|---|---|
| Interest Rate | Fixed or variable (APR depends on lender and credit) |
| Loan Amount | Can cover full cost of attendance (tuition + living expenses) |
| Repayment | Options include interest-only during school or deferred until after graduation |
| Grace Period | Most loans offer 6–12 months after graduation before full repayment begins |
🔍 Tips for International Students
- Exhaust scholarships first — loans should be a last resort.
- Compare lenders and repayment terms carefully.
- Ask your university — many schools partner with lenders for international students.
- Understand currency exchange risks — if repaying from your home country.
🎓 Universities That Partner With Lenders Like MPOWER or Prodigy
Top schools such as:
- Columbia, Harvard, MIT, Stanford
- NYU, USC, Georgia Tech, and many more
(Always check with your specific school’s financial aid office.)