9 Best College Loan for International Students: (Apply Now)

Pursuing higher education abroad is an exciting journey, but financing it can be challenging for international students.

With limited access to scholarships and grants, college loans provide a crucial financial solution.

This article explores the 9 best college loan for international students, highlighting their unique features, interest rates, and eligibility requirements.

Best College Loan for International Students

Loan Provider	Loan Amount	Co-signer Requirement	Interest Rates	Loan Terms	Eligibility Requirements
1. Sallie Mae Student Loans	Up to 100% of COA	Yes	5.99% – 16.45% (variable)	5 to 20 years	U.S.-based co-signer required
2. MPOWER Financing	Up to $100,000	No	11.99% (fixed)	10 years	Enrolled in an eligible U.S. or Canadian school
3. Prodigy Finance	Up to 80% of COA	No	8.20% – 12.20% (variable)	7 to 20 years	Enrollment in supported graduate programs
4. Ascent Student Loans	Up to $200,000	Optional	4.62% – 16.75%	5 to 15 years	Enrolled full-time in a U.S. institution
5. Discover Student Loans	Up to 100% of COA	Yes	5.49% – 14.99%	15 years	U.S.-based co-signer required
6. College Ave Student Loans	Up to $200,000	Yes	5.99% – 13.74%	5 to 15 years	Requires U.S.-based co-signer
7. Earnest Private Student Loans	Up to $250,000	Yes	4.42% – 14.90%	5 to 15 years	U.S.-based co-signer recommended
8. Wells Fargo Private Loans	Varies	Yes	5.94% – 13.74%	5 to 20 years	Requires U.S.-based co-signer
9. Lendwise Loan	Up to £100,000	No	8.95% (fixed)	10 years	Students at selected institutions globally

1. Sallie Mae Student Loans

Sallie Mae is one of the most well-known private lenders, offering a range of student loans for undergraduate, graduate, and professional degrees.

• Loan Amount: Up to 100% of the cost of attendance (COA).
• Interest Rates: Variable rates range from 5.99% to 16.45%.
• Loan Terms: Flexible terms from 5 to 20 years.
• Eligibility Requirements: Requires a U.S.-based co-signer for international students.
• Unique Benefits: Includes deferment options during school and a 6-month grace period after graduation.

2. MPOWER Financing

MPOWER specializes in providing loans without requiring a co-signer, making it an excellent option for international students.

• Loan Amount: Up to $100,000 over multiple terms.
• Interest Rates: Fixed rate of 11.99%.
• Loan Terms: Repayment term of 10 years.
• Eligibility Requirements: Must be enrolled in an eligible school in the U.S. or Canada.
• Unique Benefits: Offers interest rate discounts for automatic payments and career support services.

3. Prodigy Finance

Prodigy Finance focuses on international graduate students, offering loans without collateral or a co-signer.

• Loan Amount: Covers up to 80% of the cost of attendance.
• Interest Rates: Variable rates between 8.20% and 12.20%.
• Loan Terms: Repayment terms range from 7 to 20 years.
• Eligibility Requirements: Limited to students enrolled in graduate programs at partner institutions.
• Unique Benefits: Flexible repayment plans and global access for borrowers.

4. Ascent Student Loans

Ascent provides loans with and without co-signer options, catering to a variety of student needs.

• Loan Amount: Up to $200,000.
• Interest Rates: Variable rates from 4.62% to 16.75%.
• Loan Terms: Flexible repayment terms from 5 to 15 years.
• Eligibility Requirements: Requires full-time enrollment in a U.S. institution.
• Unique Benefits: Includes a 1% cashback graduation reward and financial literacy resources.

5. Discover Student Loans

Discover offers loans for undergraduate, graduate, and professional degrees with competitive rates.

• Loan Amount: Up to 100% of COA.
• Interest Rates: Ranges from 5.49% to 14.99%.
• Loan Terms: Fixed repayment period of 15 years.
• Eligibility Requirements: Requires a U.S.-based co-signer.
• Unique Benefits: No fees for application, origination, or prepayment.

6. College Ave Student Loans

College Ave provides customized loan options for students seeking flexibility in repayment.

• Loan Amount: Up to $200,000.
• Interest Rates: Fixed rates from 5.99% to 13.74%.
• Loan Terms: Choose between 5 to 15 years.
• Eligibility Requirements: Requires a U.S.-based co-signer for international students.
• Unique Benefits: Personalized repayment options and instant prequalification.

7. Earnest Private Student Loans

Earnest offers competitive loans tailored to meet the needs of students.

• Loan Amount: Up to $250,000.
• Interest Rates: Variable rates from 4.42% to 14.90%.
• Loan Terms: Terms range from 5 to 15 years.
• Eligibility Requirements: A U.S.-based co-signer is strongly recommended.
• Unique Benefits: Allows borrowers to skip a payment once per year without penalty.

8. Wells Fargo Private Loans

Wells Fargo provides loans for international students with a co-signer.

• Loan Amount: Varies based on the cost of attendance.
• Interest Rates: Ranges from 5.94% to 13.74%.
• Loan Terms: Repayment periods from 5 to 20 years.
• Eligibility Requirements: Requires a U.S.-based co-signer.
• Unique Benefits: Includes interest rate reductions for existing Wells Fargo customers.

9. Lendwise Loan

Lendwise caters to students at select global institutions, focusing on postgraduate education.

• Loan Amount: Up to £100,000.
• Interest Rates: Fixed rate at 8.95%.
• Loan Terms: Repayment period of 10 years.
• Eligibility Requirements: Enrollment in partner institutions.
• Unique Benefits: Career support services and deferred repayment options.

Quick One: We have other useful loan articles here.

Frequently Asked Questions

Conclusion

Securing a college loan as an international student is no longer an insurmountable task.

The 9 best college loan for international students outlined above provide tailored solutions, from co-signer-free loans like MPOWER Financing to customizable repayment plans by College Ave.

Carefully evaluate each lender’s terms and eligibility requirements to make the best decision for your educational goals.