Pursuing higher education in the United States can be a transformative experience, but for many international students, the cost of tuition and living expenses can be a major financial burden.
Fortunately, several loan providers in the USA offer education loans specifically tailored for international students, helping make higher education more accessible.
This guide outlines nine of the best education loans available to international students in the USA, providing details on loan amounts, co-signer requirements, interest rates, terms, and eligibility criteria.
Best Education Loan for International Students in USA
| Loan Provider | Loan Amount | Co-signer Requirement | Interest Rates | Loan Terms | Eligibility Requirements |
|---|---|---|---|---|---|
| 1. Stilt | Up to $35,000 | No | 7.99% – 15.99% | 1 – 3 years | Valid visa, U.S. bank account, employment history |
| 2. MPower Financing | $2,001 – $50,000 | No | 11.99% – 13.99% | 1 – 10 years | Enrolled in a U.S.-based college, valid visa |
| 3. Prodigy Finance | Up to $100,000 | No | 7.00% – 12.50% | 1 – 20 years | Enrolled in an eligible U.S. university |
| 4. Boro | $1,000 – $25,000 | No | 15% | 1 – 5 years | Valid SSN, U.S. address, F-1 or J-1 visa |
| 5. Ascent | Up to $20,000 | Yes (for certain loans) | 7.32% – 14.50% | 5 – 15 years | Must be attending an eligible U.S. school |
| 6. College Ave Student Loans | $1,000 – $100,000 | Yes | 4.29% – 14.49% | 5 – 15 years | Enrolled in a U.S. university, co-signer required |
| 7. Discover Student Loans | $1,000 – $200,000 | Yes | 4.49% – 13.99% | 5 – 20 years | Enrolled in a U.S. college, co-signer |
| 8. Earnest | $1,000 – $75,000 | Yes | 3.50% – 12.00% | 5 – 15 years | U.S. co-signer, enrolled at a U.S. institution |
| 9. Sallie Mae | Up to 100% of school-certified expenses | Yes | 4.25% – 13.62% | 5 – 20 years | Enrolled in a U.S. school, co-signer |
1. Stilt
Stilt is an accessible option for international students, offering loans up to $35,000 without the need for a co-signer.
Their interest rates range from 7.99% to 15.99%, and loan terms range from 1 to 3 years.
Eligible students must have a valid visa, a U.S. bank account, and a demonstrated employment history or future employment prospects.
2. MPower Financing
MPower Financing provides loans from $2,001 to $50,000 for international students without requiring a co-signer.
With interest rates between 11.99% and 13.99%, MPower offers flexible loan terms of 1 to 10 years.
Students must be enrolled in a U.S. college and possess a valid visa to qualify.
3. Prodigy Finance
Prodigy Finance offers competitive loans up to $100,000 to international students studying at select U.S. universities.
With interest rates from 7.00% to 12.50% and terms extending up to 20 years, Prodigy Finance does not require a co-signer, making it an attractive option.
Eligible students must be enrolled in one of the Prodigy-approved institutions.
4. Boro
Boro offers flexible loan options for international students, with amounts ranging from $1,000 to $25,000.
Their loans come with a 15% interest rate and terms of 1 to 5 years.
Boro does not require a co-signer but mandates a valid SSN, U.S. address, and visa (F-1 or J-1).
5. Ascent
Ascent provides loans of up to $20,000, with rates ranging from 7.32% to 14.50% and terms extending from 5 to 15 years.
Some of Ascent’s loans require a U.S. co-signer, while others are co-signer-free. To qualify, students must attend an eligible U.S. school.
6. College Ave Student Loans
College Ave Student Loans offers education loans up to $100,000 with a co-signer requirement for international students.
Interest rates range from 4.29% to 14.49%, and loan terms extend from 5 to 15 years. Eligible students must be enrolled in a U.S. university and have a qualified co-signer.
7. Discover Student Loans
Discover Student Loans provides loans between $1,000 and $200,000, with interest rates from 4.49% to 13.99%. Loan terms range from 5 to 20 years, and a U.S. co-signer is required.
Discover allows students to borrow up to the total cost of their education, making it a comprehensive option.
8. Earnest
Earnest offers loans between $1,000 and $75,000 to international students with interest rates starting at 3.50% up to 12.00%.
Loan terms are flexible, extending from 5 to 15 years, and Earnest requires a U.S.-based co-signer. Eligible students must be enrolled in an accredited U.S. institution.
9. Sallie Mae
Sallie Mae offers loans that cover up to 100% of school-certified costs, with interest rates ranging from 4.25% to 13.62%.
Loan terms vary from 5 to 20 years, and a U.S.-based co-signer is necessary. Sallie Mae provides additional benefits, such as study resources and free access to financial literacy tools.
Quick One: We have other useful loan articles here.
Frequently Asked Questions
Can international students get education loans in the USA without a co-signer?
Yes, some lenders, like MPower Financing, Prodigy Finance, and Stilt, offer loans without requiring a co-signer, though eligibility requirements vary by lender.
Do education loans for international students have higher interest rates?
Typically, loans without a co-signer may have slightly higher interest rates to account for the higher risk. However, some lenders like Earnest and Discover offer competitive rates if you have a U.S.-based co-signer.
What documents are required for international students to apply for an education loan?
Generally, international students need to provide a valid visa, proof of enrollment, passport, and in some cases, a U.S. Social Security Number (SSN) or a co-signer’s details.
Conclusion
Navigating the loan options available to international students in the USA can feel overwhelming, but many loan providers cater specifically to this group.
Each loan provider offers different benefits, from no co-signer requirements to competitive interest rates and flexible terms.
Choosing the right loan depends on your unique needs, eligibility, and future repayment plans.
