As of April 2025, international students seeking to study in the United States have several private loan options available, as they are generally ineligible for federal student loans. Below is an overview of notable lenders and key considerations:
Top International Student Loan Providers (2025)
1. MPOWER Financing
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Cosigner Requirement: None
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Eligibility: International and DACA students within two years of graduation at over 400 approved schools in the U.S. and Canada
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Loan Features: No collateral or credit history required; offers fixed interest rates and various repayment options.
2. Prodigy Finance
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Cosigner Requirement: None
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Eligibility: Postgraduate students in fields like business, engineering, public policy, law, or health sciences at participating institutions
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Loan Features: Assesses creditworthiness based on future earning potential rather than credit history.
3. Ascent Funding
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Cosigner Requirement: Required (U.S. citizen or permanent resident with a minimum income of $30,000/year)
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Loan Features: Offers both fixed and variable APRs; provides options for undergraduate and graduate students.
4. College Ave
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Cosigner Requirement: Required
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Loan Features: Provides multiyear approval, covering up to 100% of the cost of attendance; offers fixed APRs ranging from 3.47% to 17.99% .
5. Union Federal
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Cosigner Requirement: Required (U.S. citizen or permanent resident)
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Loan Features: Offers the same application process and benefits as U.S. students, including autopay discounts and fee-less applications .
Key Considerations
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Cosigner Requirements: Many lenders require a U.S.-based cosigner. If unavailable, consider lenders like MPOWER Financing or Prodigy Finance that do not require one.
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Interest Rates: Rates vary based on creditworthiness, cosigner status, and chosen repayment terms. It's essential to compare both fixed and variable APRs.
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Loan Coverage: Some loans cover only tuition, while others may include living expenses. Ensure the loan meets your financial needs.
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Repayment Options: Look for flexibility in repayment, such as grace periods, deferment options, and income-driven repayment plans.
Additional Resources
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Loan Comparison Tools: Platforms like InternationalStudentLoan.com offer tools to compare lenders based on your school and citizenship.International Student Loan
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Institutional Aid: Some U.S. universities provide scholarships or financial aid to international students. Check with your prospective institution's financial aid office.
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Payment Plans: Explore tuition payment plans offered by universities, which can help spread out costs without accruing interest.