When planning to attend a university in the USA, it is important that you accurately calculate how much you’ll need to finance your studies. Most times, the amount you require may not be readily available or will take longer for you to get it, which is where taking out a loan for international students in USA comes in.
Studying in the United States is rewarding in the long run, but it can also be incredibly expensive, which is why most foreign students opt for studying in cheaper countries. For students who brave this feat, you have the option of scholarships, financial aid from universities, and getting funding from your family.
But, when those avenues fail or are simply not enough, you can then apply for a loan for international students in usa. In this article, we’ll share with you how to get a student loan for international students in usa.
Table Of Content:
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What is a student loan?
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Who qualifies for a loan for international students in usa?
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What to know about getting a loan for international students in usa 2025
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How to apply for loan for international students in usa 2025
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Types of loan for international students in usa
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10 frequently asked questions about loan for international students in USA
What Is A Student Loan?
A us education loan for international students are private education loans that are available to international students studying in the US. These loans are now a viable way to fund your studies in the US. Student loans are flexible and can provide loan amounts that are enough to cover your whole education.
However, they come with extended repayment terms and favorable interest rates, so that you can foot the repayment bill when you graduate.
Who Qualifies For A Loan For International Students In USA?
Although federal student loans exist that are specifically reserved for US citizens, there are still loans that foreigners can apply for. A student loan in us for international students is for non-US citizens or non-citizen permanent residents who are enrolled in an eligible university or college in the United States.
What To Know About Getting A Loan For International Students In USA 2025
Before getting a loan for international students in usa 2025, there are few things you must know to ensure that you do not make any mistakes. On that note, here is everything you need to know about getting foreign student loan.
Who Is A Cosigner?
Most foreigners applying for study loans in the US must have a US cosigner before they can apply. Your cosigner is someone legally bound to repay the loan if you fail to pay. They must be a permanent resident with good credit who has lived in the US for the last two years.
The cosigner is usually your close friend or relative who can help you get credit, since most international students cannot get credit themselves. If you can’t find a cosigner, you can opt for no cosigner loans.
What Is Interest?
Interest in the extra amount the lender charges you on top of the principal amount that you borrowed. The interest rate is calculated using a benchmark rate plus a margin. That margin is contingent on the borrower’s creditworthiness or that of their co-signer.
There are two popular benchmarks used for deciding the interest rate for international students - they are Prime Rate and Secured Overnight Financing Rate (SOFR).
Prime Interest Rate
Prime Interest Rate is controlled by the federal funds rate, which the US Federal Reserve establishes. It is the foundation for the lending rates in the market and is often used in the calculation of interest for loans offered to individual borrowers and businesses.
Secured Overnight Financing Rate
SOFR is administered by the Federal Reserve Bank of New York. It is based on the transactions in the Treasury repurchase market, where banks and investors borrow or loan Treasuries overnight. As a risk-free, overnight funding rate, SOFR contains information from a vast number of market participants, which makes it more transparent and representative of the prevalent market conditions.
This benchmark has been accepted as an alternative to the LIBOR benchmark, which has gotten some backlash in the past.
How Interest Rate Is Determined
When determining the interest rate for an international student, the lender considers your preferred benchmark and adds an extra percentage based on the creditworthiness of you or your cosigner. This ensures that the final interest rate accurately reflects the risk associated with lending to a specific individual. It also factors in the prominent economic environment the benchmark represents.
Repaying Loans
Repayment differs based on the loan option you chose. Since you may not work while studying in the US, repayment is a crucial factor in your loan approval. Consider how much you will make in monthly payments, when they will begin, and how long you can defer paying the loan for.
The repayment period typically ranges from 10-25 years, but the bigger the loan, the longer the repayment period. Standard repayment options include:
Interest Only
You only pay the interest in school, up to four consecutive years, and can defer the principal amount until 45 days after graduation, or when you drop their course load to part-time.
Immediate Repayment
Payments are made on the interest and principal immediately the loan has been disbursed.
Full Deferral
Candidates can defer payment until 6 months after graduation provided the full-time status is maintained. You can defer the payments for up to 4 years, which is the usual length of your degree.
How To Apply For Loan For International Students In USA 2025
While every international student loan for the US has its own application process and specific criteria applicants must meet, there is a general process you must follow, when applying for a study loan for international students in usa. We have laid out that process for you below:
1. Determine Your Eligibility
Do some research to ensure that you meet the funding organization’s eligibility criteria. This may vary if you’re searching for no-cosigner student loans or loans for some study destinations.
2. Gather The Right Documents
Gather all the necessary documents, including admission letters, identification, and financial records.
3. Submit Your Application
Ensure you accurately fill out your application and provide all the requested details to avoid delays or rejections.
22 Types Of Loan For International Students In USA
There are different types of loan you can apply for as an international student studying in the US. Some are funded by universities, the US government, while others are sponsored by benevolent private organizations. In this section, we share each of those loans, their eligibility requirement, and how you can apply for them.
1. Mpower Financing
MPower is an organization committed to eliminating financial obstacles that students face. This company provides a student loan for international students in usa without cosigner, tailored to your future. Over the years, MPower has helped thousands of international students attain their dream of studying abroad.
Eligibility Criteria For Mpower Financing
To successfully apply for the MPower Financing loan, you must the following eligibility criteria:
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Be a U.S Citizen, U.S. permanent resident, DACA recipient, U.S. refugee/asylum seeker or an international student from any of the mentioned 190+ countries.
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You received admission to an MPOWER-eligible school.
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You are admitted to an MPOWER-eligible program.
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You will be graduating in the next 24 months.
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Candidates must have applied for or have a valid visa to study in the US.
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Candidates should possess a GPA of 2.5 if they have finished at least one semester of their current program.
Learn more about the MPOWER student loan.
2. Nomad Credit
Nomad Credit is the top place to find education loan for international students in usa without cosigner. If you’re serious about pursuing your education abroad, they have experts and admissions counselors to advise and help you kickstart your study abroad journey.
Eligibility Criteria For Nomad Credit Loan
To qualify for a loan with Nomad Credit, meet the requirements below:
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Gain admission to a school in the US.
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Have a great GPA (minimum 2.0 - 3.0)
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Possess form I-20 at the time of the application.
Learn more about the Nomad Credit Loan.
3. Brazos Undergraduate Loan
Brazos Higher Education is a reliable Texas non-profit organization committed to helping students fund their college education and save money when they graduate. Brazos Undergraduate Loan gives you the freedom to pursue your education and attain your career goals. It has flexible repayment options, making it an ideal foreign student loan usa.
Eligibility Criteria For Brazos Undergraduate Loan
Applicants applying for the Brazos Undergraduate Loan should meet these requirements:
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Have a creditworthy cosigner. This can be a parent or a close family member.
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Cosigners must have a satisfactory credit and minimum verifiable gross income.
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Candidates must be Texas residents. However, those living outside Texas can apply if they intend to attend a college or university in the state.
Learn more about Brazos Undergraduate Loan.
4. Prodigy Finance
Prodigy Finance began providing education loan in usa for international students, when they realized that traditional banks didn’t cater to the funding needs of foreign students. They believe that money shouldn’t be a barrier to getting quality education.
Eligibility Criteria For Prodigy Finance Loan
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Applicants must be from any of the 120+ home countries supported.
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Applicants should apply to a recognized university on Prodigy's list.
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The country of study should also be supported by Prodigy Finance.
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Provide certain documents such as - proof of identity and address, school admission letter, and credit report.
Learn more about Prodigy Finance Student Loan.
5. AfriCred
AfriCred is Africa’s fastest growing education loan and global remittance company. They are committed to providing us student loans for international students who require it. With this company, you can get funds for your education regardless of your financial background.
Eligibility Criteria For AfriCred Education Loan
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Students will undergo consultation to determine their visa needs and financial situation.
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Provide your admission letter.
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Submit Student ID, Passport ID, and recent Utility bill.
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2 signed blank cheque by you or your guarantor.
Learn more about AfriCred’s Education Loan.
6. Ascent Funding
Ascent Funding provides personal loans for international students in usa that help you plan, repay and succeed in school. Ascent’s college loans has zero fees, low rates, and 40 available flexible payment options.
Eligibility Criteria For Ascent Funding’s Student Loan
Check out the eligibility criteria for Ascent Funding’s Student Loan:
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Students must be attending and enrolled at least half-time in a degree program to apply for a loan.
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Student borrowers must have a minimum credit score.
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Cosigners must also have a minimum credit score that is subject to change.
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For non-cosigned loans, borrowers must have over two years of credit history with a minimum credit score.
Learn more about the Ascent Funding loan.
7. Sallie Mae
Sallie Mae is the first education solutions company that helps students and families properly prepare to pay for school. Besides providing a quick and easy student loan international student usa, Sallie Mae also caters to everything you’ll need for your studies.
Eligibility Criteria For Sallie Mae’s Loans
8. Global Student Loan
The Global Student Loan Corporation has designed programs to provide student loans in the us for international students without them needing a U.S co-signer. It facilitates loans that cover education-related expenses.
Eligibility Criteria For The Global Student Loan
9. Earnest
Earnest offers low-interest student loans for non us citizens based on their specific financial profile, including student loan refinancing, private student loans, and personal loans.
Eligibility Criteria For Earnest
To qualify for a student loan from Earnest, you must:
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Be a U.S. Citizen, have a Permanent Resident Card (10-year non-conditional or 2-year conditional), a Deferred Action for Childhood Arrivals (DACA) Recipient, an Asylum seeker, or have a H-1B visa with a U.S. Citizen cosigner.
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Have a current enrollment status that is less than half-time and your student loans are being repaid or you will complete your degree at the end of the current semester.
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Reside currently in the District of Columbia or one of the eligible 49 states Earnest lends to.
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Reach the age of majority in the state you reside in.
Learn more about the Earnest Loan.
10. SoFi Private Student Loans
SoFi offers private student loans for non us citizens, including parent loans, MBA, health profession, law, graduate, and undergraduate loans. You can use the loans from SoFi to fund all stages of your educational pursuit.
11. EdvestinU
EdvestinU provides competitive options for funding your studies. This company is a private student loan product offered by Granite Edvance Corporate. EdvestinU can approve a student loan for usa study for you.
Eligibility Criteria For EdvestinU
These are the eligibility criteria for an EdvestinU loan:
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Applicants must be a U.S. citizen, permanent resident or an eligible non-citizen with a U.S. Citizen cosigner.
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Applicants must be the age of majority in their state of residence or apply with a creditworthy cosigner who has reached the age of majority.
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Applicants must be admitted at least half time at an eligible school.
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Both the borrower and their cosigner will undergo credit approval. This may require extra documentation.
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The interest rate for the EdvestinU depends on your credit history or your co-signer's credit history.
Learn more about the EdvestinU Loan.
12. Discover
Discover gives the best student loans for international students in usa. The process to get it is quick and easy, plus you get a clear idea of the requirements you need to meet.
Eligibility Criteria For The Discover Loan
There are 5 core requirements you need to be eligible for a Discover personal loan. They are:
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A valid U.S SSN.
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Be up to 18 years old.
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Have a minimum individual or household yearly income of at least $25,000.
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Have a physical address.
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Have a valid email address and access to a computer or mobile device to complete your online application.
Learn more about the Discover Loan.
13. Juno
Juno exists to make cheaper education available to students of all generations. They offer loans for international students in usa without cosigner, and get you low rate student loans.
Eligibility Criteria For Juno Loans
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Non-permanent residents and foreigners (including DACA beneficiaries and asylum seekers) must possess valid documentation attesting to their current immigration status.
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Applicants must be employed, have enough income from other places, and offer employment to begin within the next 90 days.
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Candidates graduated with an associate’s degree or higher from a Title IV school.
14. Credible
Credible helps students make better borrowing decisions and grants private loans for international students in usa. This company is on a mission to empower customers to understand and improve their finances.
Eligibility Criteria For Credible’s Private Student Loans
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Applicants should have a qualifying credit score (or a cosigner who has one).
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Have a qualifying income and debt-to-income ratio (or a cosigner with one).
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Be enrolled in an eligible education program.
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Be a U.S. citizen or legal resident with a Social Security number.
Learn more about Credible’s Private Student Loans.
15. College Ave
College Ave strives to provide you with a better student loan to study in usa. Whether you are a parent or student looking to take out a loan, you can apply via this platform. College Ave will eliminate the stress of paying for college by designing a private student loan that fits into your budget.
Eligibility Criteria For College Ave
Qualification for a private student loan varies based on the lender, but some of the common criteria are:
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Enrollment status.
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Creditworthiness.
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Financial History.
16. Citizens Bank
Citizens Bank offers a series of personal loans you can use to take care of future expenses. They are a great place to find student loan for international students in usa with cosigner.
Learn more about Citizens Bank’s student loan.
17. Custom Choice
Custom Choice is ideal for an international student education loan in us. Their student loans can fund up to 100% of the cost of attendance, books, lab fees, computers, and room and board. It also comes with a flexible repayment plan that suits your situation and budget.
Learn more about Custom Choice’s student loans.
18. Avant
On Avant you can find a loan for study in usa, as well as other personal loans that can help you reach your financial goals. You can collect small to larger sums to pay for medical bill, home projects, and unexpected expenses.
Learn more about Avant’s personal loans.
19. Lending Club
The Lending Club has favorable loan options for international students in us. With this place, you can choose a loan amount of up to $40,000 and get fixed rates and a monthly repayment plan that falls under your budget. Lending Club also disburses funds swiftly so you get your money as soon as you need it.
Learn more about Lending Club loans.
20. Auburn University At Montgomery Student Loans
Auburn University has a group of study aids they offer to potential students, including Auburn University has various loans that they offer us student loans for international study. At this school, you get the option to study with a Federal Direct Subsidized Stafford Loan or Private Student Loans.
Eligibility Criteria For Auburn University Private Student Loan
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The lender, not Auburn University, determines your eligibility for the loan.
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Have a cosigner.
Learn more about Auburn University’s private student loans.
21. Kellogg School of Management Loans
Kellogg School Of Management has some of the best international student loans usa you will ever come across. They help students identify and utilize funding opportunities, while still teaching you how to secure a loan.
Eligibility Criteria For Kellogg School Of Management Loans
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Fill out and submit the Kellogg Application for Financial Aid. You will get the form on your applicant portal after your application round deadline.
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Extra instructions will be available when you start your application.
Learn more about Kellogg’s student loans.
22. Nelnet Bank
If you’re looking for a good bank to get f1 student loan in usa, then you should definitely check out Nelnet Bank. They make acquiring a student loan easy for foreign students.
Eligibility Criteria For Nelnet Bank Loans
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Applicants or their co-signers must be US Citizens or have permanent residency status with a valid social security number.
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Be enrolled at least half-time to a school that qualifies for the Nelnet Bank loan.
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You or your cosigner should have a mid to high 600 FICO score.
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Candidates must be 16 or 17 before they can enter a legally binding contract in their state of residency or territory.
Learn more about Nelnet Bank Loans.
10 Frequently Asked Questions About Loan For International Students In USA
We know you have a lot of questions about getting a loan for international students in USA 2025. We have included this section to answer some of them.
1. Can International Students Get A Personal Loan To Study In The USA?
Yes, an international student can get a personal loan in the USA if they meet a lender’s requirements for credit, residency, and income. Most lenders need to see that applicants have a Fair or good credit and enough income to repay the money.
2. How To Get Student Loan In The USA For International Students?
To get a student loan in the USA as an international student, you must have a co-signer who is willing to stand in for you. While there are also no cosigner loan programs at some schools in the US, almost every foreign student will need a co-signer.
3. Is It Easy To Get Student Loan In US?
Getting a loan in the US is relatively easy, but certain factors like a bad credit score can make the process hard. Private lenders often evaluate your income and credit score before they can give you a loan. But as a student, you likely have poor or no credit at all. In that case, you can opt for the lenders who give funds regardless of your score.
4. How Do I Get A Loan In USA?
International students can get a private student loan in USA if they meet the requirements stated by the lender. Some of those requirements include having a student visa, or getting a U.S. citizen or a permanent resident to co-sign your loan.
5. Can A Non-US Citizen Get A Student Loan?
Yes, a non-us citizen can get a student loan in the country. To qualify for a loan in America, noncitizens must provide evidence from the USCIS that they are in the USA for a temporary purpose like studying.
6. How Much Student Loan Can I Get In The USA?
As a foreign student, you can borrow up to $9,500 to $12,500 annually or up to $57,500 total to fund their studies.
7. What Are The Requirements To Get Student Loan In USA?
Some requirements to qualify for a student loan in USA include - a completed Free Application for Federal Student Aid form (FAFSA), part-time or full-time enrollment to a school in the US, you must be a U.S. citizen, permanent resident, or eligible non-citizen, etc.
8. Are International Students Eligible For Federal Student Loans?
Unfortunately, international students do not qualify for federal student loans. But, you can apply for specific loans for foreigners such as specialized private education loans.
9. Who Gives International Students Loan?
Loans for international students are usually awarded by banks, schools or financial organizations. Each lender has different terms for giving you a loan.
10. Must I Have A Cosigner To Get A Loan?
No, you must not have a cosigner to get a student loan in the USA. You can always go for non-cosigner loans that allow you to stand in for yourself.
Conclusion
Getting a loan for international students in the US is still one of the easiest ways to fund your studies in the country. Unlike scholarships, you are in no competition with anyone and you have a higher chance of getting the money you need. There are numerous organizations who are ready to sponsor you, and if you're lucky enough to find one then nothing can stop you. Funding your studies in the USA is something most foreign students struggle with, but we hope that by reading our article you'll be one step closer to securing that support.
And if you need other alternative to getting funds to study in America, do check out UScholarships to find hundreds of scholarships across different cities and universities in the US. Goodluck on your studies and we will always be here to advise you.