Securing funding as an international student can be a challenge, especially when it comes to finding loans that cater to your unique financial and educational needs.
Passage loans, offered by various financial institutions, are tailored to help international students cover tuition, living expenses, and other educational costs.
In this guide, we’ll explore the 9 best Passage loan for international students, highlighting their key features, eligibility requirements, and benefits.
Best Passage Loan for International Students
| Loan Provider | Loan Amount | Co-signer Requirement | Interest Rates | Loan Terms | Eligibility Requirements |
|---|---|---|---|---|---|
| 1. MPOWER Financing | Up to $100,000 | No | 7.49% – 14.98% | Up to 10 years | Partner universities only. |
| 2. Prodigy Finance | Up to $100,000 | No | 8.00% – 12.50% (variable) | Up to 20 years | Enrollment in eligible programs. |
| 3. Ascent Funding | Up to $200,000 | Optional | 4.48% – 14.08% | 5 to 15 years | No co-signer required for credit-based loans. |
| 4. Sallie Mae | Up to $200,000 | Optional | 4.62% – 13.83% | Up to 15 years | U.S.-based co-signer preferred. |
| 5. Citizens Bank | Up to $350,000 | Yes | 5.47% – 12.04% | Up to 15 years | Requires a U.S.-based co-signer. |
| 6. College Ave Student Loans | Up to $150,000 | Yes | 5.99% – 13.74% | 5 to 15 years | Requires a U.S.-based co-signer. |
| 7. Earnest | Up to $250,000 | Yes | 5.65% – 13.44% | 5 to 15 years | Requires a U.S.-based co-signer. |
| 8. Discover Student Loans | Up to $200,000 | Yes | 4.49% – 12.99% | Up to 20 years | Requires a U.S.-based co-signer. |
| 9. Lendwise | £5,000 – £100,000 | No | Starting at 9.5% (fixed) | Up to 10 years | Enrolled in graduate programs at eligible schools. |
1. MPOWER Financing
MPOWER is a popular choice for international students as it does not require a co-signer or credit history:
- Loan Amount: Up to $100,000.
- Interest Rates: Fixed rates from 7.49% to 14.98%.
- Loan Terms: Up to 10 years.
- Eligibility Requirements: Enrollment at a partner university in the U.S. or Canada.
- Unique Benefits: No co-signer required, visa support services, and interest rate discounts for autopay or graduating from eligible programs.
2. Prodigy Finance
Prodigy Finance is ideal for graduate students attending top-tier programs:
- Loan Amount: Up to $100,000.
- Interest Rates: Variable rates ranging from 8.00% to 12.50%.
- Loan Terms: Up to 20 years.
- Eligibility Requirements: Enrollment in an eligible graduate program.
- Unique Benefits: No need for a co-signer, with loans based on earning potential.
3. Ascent Funding
Ascent offers a unique approach with both co-signed and non-co-signed loans:
- Loan Amount: Up to $200,000.
- Interest Rates: Fixed: 5.78% – 13.78%; Variable: 4.48% – 14.08%.
- Loan Terms: 5 to 15 years.
- Eligibility Requirements: International students need a U.S. co-signer unless opting for credit-based loans.
- Unique Benefits: Flexible repayment plans, no prepayment penalties, and cash-back rewards for on-time payments.
4. Sallie Mae
Sallie Mae is a versatile loan provider offering options for international students:
- Loan Amount: Up to $200,000.
- Interest Rates: Fixed: 4.62% to 13.83%; Variable: 5.00% to 13.41%.
- Loan Terms: Up to 15 years.
- Eligibility Requirements: U.S. co-signer preferred.
- Unique Benefits: Deferred repayment options and co-signer release after consistent payments.
5. Citizens Bank
Citizens Bank is a solid choice for high-value loans:
- Loan Amount: Up to $350,000.
- Interest Rates: Fixed: 5.47% to 12.04%; Variable: 4.45% to 11.50%.
- Loan Terms: Up to 15 years.
- Eligibility Requirements: U.S.-based co-signer required.
- Unique Benefits: No origination fees, with discounts for autopay.
6. College Ave Student Loans
College Ave provides competitive and customizable loan solutions:
- Loan Amount: Up to $150,000.
- Interest Rates: Fixed: 5.99% to 13.74%; Variable: 5.59% to 13.44%.
- Loan Terms: 5 to 15 years.
- Eligibility Requirements: U.S.-based co-signer required.
- Unique Benefits: Flexible repayment terms and fast approval process.
7. Earnest
Earnest is a user-friendly loan provider with no hidden fees:
- Loan Amount: Up to $250,000.
- Interest Rates: Fixed: 5.65% to 13.44%.
- Loan Terms: 5 to 15 years.
- Eligibility Requirements: Requires a U.S.-based co-signer.
- Unique Benefits: Customizable payment schedules and no origination fees.
8. Discover Student Loans
Discover offers loans with competitive rates and no fees:
- Loan Amount: Up to $200,000.
- Interest Rates: Fixed: 4.49% to 12.99%.
- Loan Terms: Up to 20 years.
- Eligibility Requirements: Requires a U.S.-based co-signer.
- Unique Benefits: 1% cashback reward for good academic performance.
9. Lendwise
Lendwise specializes in postgraduate education financing for international students:
- Loan Amount: £5,000 to £100,000.
- Interest Rates: Fixed rates starting at 9.5%.
- Loan Terms: Up to 10 years.
- Eligibility Requirements: Enrollment in an eligible postgraduate program.
- Unique Benefits: No hidden fees and tailored rates based on future earning potential.
Quick One: We have other useful loan articles here.
Frequently Asked Questions
Can I get a loan as an international student without a co-signer?
Yes, providers such as MPOWER Financing, Prodigy Finance, and Lendwise do not require a co-signer for their loans.
What is the best loan for international graduate students?
For graduate students, Prodigy Finance and Lendwise stand out for their focus on postgraduate programs and no co-signer requirements.
How do I qualify for a Passage loan?
Eligibility criteria vary by provider but typically require enrollment in an eligible institution, proof of financial need, and sometimes a U.S.-based co-signer.
Conclusion
Navigating loans as an international student is challenging but manageable with the right tools and options.
The 9 best Passage loan for international students highlighted in this guide offer a range of features to suit various needs, from no co-signer options to high loan amounts and competitive interest rates.
Whether you’re pursuing undergraduate or postgraduate studies, these providers can help you fund your education with confidence.
