While U.S. citizens and certain non-citizens can benefit significantly from the low-interest rates and other features of federal student loans, anyone else must take out a private loan. Therefore, personal student loans are often the best option for many overseas students.
Now more than ever, international students can pick a loan that suits their circumstances. To assist you in narrowing down your options, we have listed the top choices for foreign student loans. We appreciate two of these loans so much that they don’t even demand a cosigner or Social Security number from the borrower.
Best Loan for International Students WITHOUT A COSIGNER
It can be challenging for international students to secure loans since they often need access to a U.S.-based cosigner and may be required to put up collateral if they borrow within their home country. Fortunately, this need is being filled by two big finance firms that provide private student loans without requiring a cosigner. MPOWER Financing is the most accessible option for this service.
Undergraduate and graduate students from outside of the United States who are either within two years of graduation or who are beginning a one- or two-year program at one of 350 recognized schools in the United States or Canada are eligible for MPOWER private student loans.
A loan secured by your expected income…
We offer international students a simple, low-interest way to finance their education abroad: a loan. Since we never ask for a cosigner or collateral, our loans might help you maintain your autonomy.
Please put your trust in our low rates and high caps.
- Loans between $2,001 and $100,000
- Rates of interest that are both low and guaranteed never to rise
- Reduce the interest rate you’re paying.
Affordable loans that work with your lifestyle
- Prompt loan proposal with several stipulations
- There is no penalty for paying the whole balance in advance.
- Helping students at over 400 schools across the United States and Canada
Extra benefits that can’t be measured in dollars
- Assist with Visas
- Counseling for Those Seeking to Advance Their Professions
- Information on the issues that matter most to students studying abroad is readily available.
Who is qualified for funding?
An MPOWER student loan may be available to you if you are:
- A college or graduate student who will graduate in the next two years or is about to start a one- or two-year program.
- An international student, someone with DACA, a U.S. citizen, a refugee, or someone looking for asylum.
- Accepted into or currently enrolled in one of our more than 400 accredited schools in the United States or Canada.
Find your interest rates and terms
MPOWER Financing Student Loans Have the Following Positive Aspects:
Loans are available to international students without the requirement of a cosigner being present: When applying for student loans in the U.S., international students typically have fewer options. And most lenders need a cosigner who is a citizen or permanent resident of the United States. Students from other countries can gain approval on their own with the help of MPOWER.
Offers substantial reductions in interest rates: It is typical for private lenders to provide a 0.25% interest rate reduction for automated payments; however, this is the only discount they provide for many lenders. When you use MPOWER, you can receive an interest rate savings of up to 1.5% if you set up automatic payments, make on-time payments, and confirm that you have graduated and are currently employed.
It is optional to have a particular credit rating or history to get approved: MPOWER will evaluate your credit history in the U.S. or your home country to determine your payment history, but they will not check your credit score now. The absence of a credit history won’t affect your chances of getting approved for the loan.
Provides refinancing options for international student loans Graduates of U.S. colleges and universities are eligible for refinancing options for domestic and international student loans.