Pursuing higher education in the United States can open doors to numerous opportunities, but for international students, the cost of tuition and living expenses can be challenging to meet.
Fortunately, several US-based loan providers offer tailored student loan options specifically for international students.
This article “Best US student Loan for International Students” highlights the seven best loan options available for international students in the US.
Detailing loan amounts, interest rates, terms, and eligibility requirements to help you make an informed choice.
Best US Student Loan for International Students
| 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. 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 required |
1. Stilt
Stilt offers personal loans for international students without the need for a co-signer.
With loan amounts up to $35,000 and interest rates ranging from 7.99% to 15.99%, Stilt is a good option for students who may not have an established U.S. credit history.
Loan terms vary between 1 and 3 years, and to qualify, students need a valid visa, a U.S. bank account, and some form of employment history or future employment plans.
2. MPower Financing
MPower Financing specializes in providing loans to international students without requiring a co-signer.
Loan amounts range from $2,001 to $50,000, with interest rates between 11.99% and 13.99%.
Loan terms vary from 1 to 10 years, making this option flexible for students who need time to repay.
Eligible students must be enrolled in a U.S.-based college and possess a valid visa.
MPower also supports students in building a U.S. credit history through their repayment process.
3. Prodigy Finance
Prodigy Finance offers international student loans with amounts up to $100,000, and does not require a co-signer.
Prodigy’s interest rates range from 7.00% to 12.50%, and loan terms vary between 1 and 20 years.
This provider is ideal for students enrolled in graduate programs at eligible U.S. universities.
Prodigy evaluates students based on their future earning potential, making it easier for students without a U.S. co-signer to access financial aid.
4. Boro
Boro provides flexible loans for international students, with loan amounts ranging from $1,000 to $25,000 and a standard interest rate of 15%.
Loan terms range from 1 to 5 years, and Boro requires international students to have a valid SSN, U.S. address, and either an F-1 or J-1 visa.
Although Boro’s interest rates are higher, they do not require a co-signer, which can be advantageous for students who lack a U.S.-based co-signer.
5. Ascent
Ascent offers both co-signed and non-co-signed loan options, with amounts up to $20,000 for international students.
Interest rates range from 7.32% to 14.50%, and loan terms vary between 5 and 15 years. For non-co-signed loans, Ascent requires students to attend eligible U.S. schools.
Co-signed loans are available at more competitive interest rates, but require a creditworthy U.S.-based co-signer.
6. College Ave Student Loans
College Ave Student Loans provides loans with amounts from $1,000 up to $100,000, with interest rates ranging from 4.29% to 14.49%.
Loan terms range from 5 to 15 years, and a U.S.-based co-signer is required for international students.
College Ave offers flexibility in repayment options, including options to make full payments or interest-only payments while still in school.
7. Sallie Mae
Sallie Mae offers international student loans covering up to 100% of school-certified expenses, including tuition and living costs.
Interest rates range from 4.25% to 13.62%, and loan terms vary from 5 to 20 years.
Sallie Mae requires a U.S.-based co-signer for international students, but they offer flexible repayment options, including deferred, interest-only, and fixed repayment choices while in school.
Quick One: We have other useful loan articles here.
Frequently Asked Questions
Can international students get a loan in the US without a co-signer?
Yes, certain loan providers like Stilt, MPower Financing, and Prodigy Finance offer loans to international students without requiring a U.S.-based co-signer.
What are the typical interest rates for international student loans in the US?
Interest rates for international student loans in the US can vary widely depending on the lender, with rates typically ranging from around 4% to 15%.
Do international student loans help in building a U.S. credit history?
Yes, some loan providers, such as MPower Financing, report repayment history to U.S. credit bureaus, which can help international students build a U.S. credit history.
Conclusion
Financing higher education in the United States is achievable for international students, with multiple loan providers offering tailored options.
Depending on your specific needs—such as the presence of a co-signer, loan amount required, or interest rate preferences—each of the seven providers above offers unique benefits.
Carefully assess your options and consider loan terms, interest rates, and any co-signer requirements before making your choice.
With the right loan, you can focus on making the most of your educational journey in the United States.
