Studying in the United States can be a life-changing opportunity—but it comes with a hefty price tag. Tuition, housing, books, and living expenses can quickly add up. For international students without access to U.S. federal financial aid, student loans are often the only option. So the big question is: Can international students apply for a loan in the USA—and how?
The short answer is yes, but with conditions. In this comprehensive blog post, we’ll break down everything you need to know about student loans for international students in the U.S., including eligibility, types of loans, required documents, and a step-by-step application process.
Table of Contents
- Can International Students Get Loans in the U.S.?
- Types of Loans Available
- Key Loan Providers
- Loan Eligibility Requirements
- Step-by-Step Guide to Applying for a Loan
- Required Documents
- Interest Rates & Repayment
- Tips for Loan Approval
- Alternatives to Student Loans
- FAQs
1. Can International Students Get Loans in the U.S.?
Yes—but not through federal student aid. The U.S. government does not provide federal loans (like FAFSA-based loans) to international students. However, private lenders and international-focused loan providers do offer loans, typically under one of the following conditions:
- You have a creditworthy U.S. co-signer (often a relative or close friend).
- You’re attending an approved U.S. college or university.
- You’re enrolled full-time in a degree-seeking program.
2. Types of Loans Available
🔹 Private Student Loans
Private lenders like Sallie Mae, Citizens Bank, and Discover offer loans to international students with a co-signer.
🔹 International Student Loans
Lenders like Prodigy Finance, MPower Financing, and Leap Finance offer loans without a U.S. co-signer for students from select countries and institutions.
3. Key Loan Providers for International Students
| Lender | Requires U.S. Co-Signer? | Notes |
|---|---|---|
| MPower Financing | ❌ No | For graduate students at partner schools |
| Prodigy Finance | ❌ No | Graduate students only; top universities |
| Sallie Mae | ✅ Yes | Available for undergrad and grad |
| Citizens Bank | ✅ Yes | Requires U.S. co-signer and credit check |
| Discover Student Loans | ✅ Yes | Competitive interest rates |
4. Loan Eligibility Requirements
While each lender may have different rules, here are the common requirements:
- Must be an international student with a valid F-1 or J-1 visa
- Must be enrolled in a degree program at an eligible institution
- Must be 18 years or older
- For co-signed loans: co-signer must be a U.S. citizen or permanent resident with good credit
- Some lenders require proof of future earning potential
5. Step-by-Step Guide to Applying for a Loan
Here is a simplified process to help you apply:
Step 1: Research and Compare Lenders
- Use online platforms like Juno, Credible, or LendEDU
- Consider interest rates, repayment terms, and co-signer requirements
Step 2: Check Your Eligibility
- Visit the lender’s website and confirm if your school and nationality are supported
Step 3: Find a Co-Signer (if needed)
- Your co-signer must be a U.S. citizen or permanent resident with a strong credit score
Step 4: Gather Required Documents (see below)
Step 5: Apply Online
- Fill out the loan application form on the lender’s website
- Enter your school info, visa status, degree program, and personal details
Step 6: Wait for Approval
- Most lenders will process your application in 5 to 15 business days
Step 7: Accept and Sign the Loan Agreement
- Review interest rate, repayment plan, and fees
- Sign electronically with your co-signer (if required)
Step 8: Disbursement to School
- The lender will send the loan directly to your university to pay for tuition and fees
- Any extra funds may be issued to you for living expenses
6. Required Documents
Lenders may request:
- Valid passport and visa (F-1 or J-1)
- Admission letter from your U.S. school
- Proof of enrollment
- Tuition fee breakdown from your college
- Bank statements or financial records
- Co-signer’s ID, Social Security Number, credit history, and proof of income (if applicable)
7. Interest Rates & Repayment Options
Interest rates vary by lender and can be:
- Fixed Rate: Same rate for the life of the loan
- Variable Rate: May increase or decrease over time
Typical APR (Annual Percentage Rate) for international student loans is 6%–13%.
Repayment options:
- Immediate: Start repaying right away
- Interest-only: Pay only interest while studying
- Deferred: Begin full repayment 6 months after graduation
8. Tips for Getting Approved
- Build a credit history if possible (get a U.S. credit card or joint account)
- Choose a strong co-signer with a solid credit score and income
- Pick a reputable school—many lenders only work with accredited programs
- Apply early to ensure funds are disbursed before tuition deadlines
9. Alternatives to Student Loans
If you don’t qualify for a loan or want to limit debt, consider:
- Scholarships and grants (via your school or private organizations)
- On-campus employment (up to 20 hours/week on F-1 visa)
- Assistantships (especially for grad students)
- Sponsorships from your home country
10. FAQs
Q: Can international students apply for FAFSA?
No. Only U.S. citizens and eligible non-citizens can apply for federal student aid through FAFSA.
Q: Can I get a loan without a U.S. co-signer?
Yes, with lenders like MPower or Prodigy Finance, though these are usually for graduate students.
Q: Do I need a credit score?
Not always. Lenders that accept international students may base approval on future earning potential and academic background rather than credit history.
Q: When do I need to start repaying the loan?
Some lenders let you defer payments until 6 months after graduation; others require immediate or interest-only payments while studying.
