Studying in Japan can be a life-changing experience, but like many international students, the cost of tuition and living expenses may be a barrier.
Fortunately, there are several loan options available to help international students finance their education in Japan.
This guide will cover the 9 best student loans for international students in Japan, providing an overview of the loan providers, their eligibility requirements, interest rates, and other essential details.
Best Student Loan for International Students in Japan
| Loan Provider | Loan Amount | Co-signer Requirement | Interest Rates | Loan Terms | Eligibility Requirements |
|---|---|---|---|---|---|
| Japan Student Services Organization (JASSO) | ¥1,000,000 to ¥3,000,000 | No | 0% – 2.5% | 5 – 15 years | Enrolled in a Japanese university or graduate school |
| Mizuho Bank | ¥500,000 to ¥3,000,000 | Yes | 2.0% – 4.0% | 5 – 10 years | Full-time students enrolled at accredited institutions |
| Sumitomo Mitsui Banking Corporation (SMBC) | ¥1,000,000 to ¥5,000,000 | Yes | 1.5% – 3.5% | 5 – 10 years | International students with proof of enrollment in Japan |
| Shinsei Bank | ¥500,000 to ¥2,500,000 | Yes | 3.0% – 5.0% | 5 – 10 years | Full-time students with a valid student visa |
| Mitsubishi UFJ Trust and Banking | ¥500,000 to ¥3,000,000 | Yes | 2.5% – 4.0% | 5 – 10 years | Enrolled in a Japanese university |
| College Ave Student Loans | Up to $100,000 | No | 5.5% – 9.0% | 10 – 15 years | International students attending U.S.-based institutions |
| JACCS | ¥500,000 to ¥2,000,000 | Yes | 2.5% – 5.0% | 5 – 7 years | Students from selected countries with a valid Japanese visa |
| Rakuten Bank | ¥300,000 to ¥1,500,000 | Yes | 3.0% – 5.0% | 5 – 10 years | Full-time students enrolled at recognized institutions |
| Aflac | ¥500,000 to ¥2,000,000 | Yes | 2.0% – 3.5% | 5 – 8 years | Full-time students from countries with a bilateral agreement |
1. Japan Student Services Organization (JASSO)
- Loan Amount: ¥1,000,000 to ¥3,000,000
- Interest Rates: 0% – 2.5%
- Loan Terms: 5 – 15 years
JASSO provides low-interest loans to international students studying in Japan.
The loan amounts range from ¥1,000,000 to ¥3,000,000, and interest rates are incredibly competitive, ranging from 0% to 2.5%.
The repayment term is flexible, ranging from 5 to 15 years.
There is no co-signer requirement, and eligibility is limited to students who are enrolled in a Japanese university or graduate school.
2. Mizuho Bank
- Loan Amount: ¥500,000 to ¥3,000,000
- Interest Rates: 2.0% – 4.0%
- Loan Terms: 5 – 10 years
Mizuho Bank offers loans for international students in Japan, ranging from ¥500,000 to ¥3,000,000.
The interest rate ranges from 2.0% to 4.0%, and the loan term varies from 5 to 10 years.
A co-signer is required for this loan, and students must be enrolled full-time at an accredited Japanese university or college.
3. Sumitomo Mitsui Banking Corporation (SMBC)
- Loan Amount: ¥1,000,000 to ¥5,000,000
- Interest Rates: 1.5% – 3.5%
- Loan Terms: 5 – 10 years
SMBC provides loans up to ¥5,000,000 for international students, with interest rates between 1.5% and 3.5%.
The loan term is 5 to 10 years, and a co-signer is required. Students must provide proof of enrollment at a Japanese institution to qualify.
4. Shinsei Bank
- Loan Amount: ¥500,000 to ¥2,500,000
- Interest Rates: 3.0% – 5.0%
- Loan Terms: 5 – 10 years
Shinsei Bank offers loans for international students with amounts ranging from ¥500,000 to ¥2,500,000.
The interest rates range from 3.0% to 5.0%, and the repayment term is 5 to 10 years.
A co-signer is required, and international students must be enrolled full-time in a Japanese institution.
5. Mitsubishi UFJ Trust and Banking
- Loan Amount: ¥500,000 to ¥3,000,000
- Interest Rates: 2.5% – 4.0%
- Loan Terms: 5 – 10 years
Mitsubishi UFJ Trust and Banking offers student loans up to ¥3,000,000.
The interest rate varies between 2.5% and 4.0%, and the loan term is typically between 5 and 10 years.
Co-signers are required for this loan, and eligibility is limited to students enrolled at recognized universities in Japan.
6. College Ave Student Loans
- Loan Amount: Up to $100,000
- Interest Rates: 5.5% – 9.0%
- Loan Terms: 10 – 15 years
College Ave Student Loans offers loans for international students studying at U.S.-based institutions, with loan amounts up to $100,000.
Interest rates range from 5.5% to 9.0%, and the loan term is 10 to 15 years.
This option does not require a co-signer, making it an excellent choice for students attending U.S.-based universities.
7. JACCS
- Loan Amount: ¥500,000 to ¥2,000,000
- Interest Rates: 2.5% – 5.0%
- Loan Terms: 5 – 7 years
JACCS provides loans for international students, with amounts ranging from ¥500,000 to ¥2,000,000.
The interest rate ranges from 2.5% to 5.0%, and the loan term typically lasts between 5 and 7 years.
A co-signer is required, and students must be enrolled in a Japanese university and have a valid student visa.
8. Rakuten Bank
- Loan Amount: ¥300,000 to ¥1,500,000
- Interest Rates: 3.0% – 5.0%
- Loan Terms: 5 – 10 years
Rakuten Bank offers loans of up to ¥1,500,000 with interest rates ranging from 3.0% to 5.0%.
The loan term is 5 to 10 years, and a co-signer is required. Eligible students must be enrolled at recognized institutions in Japan.
9. Aflac
- Loan Amount: ¥500,000 to ¥2,000,000
- Interest Rates: 2.0% – 3.5%
- Loan Terms: 5 – 8 years
Aflac provides student loans for international students with amounts ranging from ¥500,000 to ¥2,000,000.
The interest rates range from 2.0% to 3.5%, with terms ranging from 5 to 8 years. A co-signer is required for this loan.
Quick One: We have other useful loan articles here.
Frequently Asked Questions
Can international students in Japan get student loans?
Yes, international students in Japan can apply for student loans. Several financial institutions in Japan, such as JASSO, Mizuho Bank, and SMBC, offer loans specifically for international students.
Do I need a co-signer to apply for a loan in Japan?
Most loan providers in Japan require a co-signer, especially for students without a long-term financial history in Japan. However, JASSO does not require a co-signer for eligible students.
What are the interest rates for student loans in Japan?
Interest rates for student loans in Japan typically range from 0% to 5.0% depending on the lender. JASSO offers the lowest interest rates, while private lenders like Shinsei Bank and Rakuten Bank have slightly higher rates.
Conclusion
Choosing the right loan provider is crucial for managing your finances while studying in Japan.
With several options available, ranging from JASSO’s low-interest loans to Mizuho Bank’s flexible terms, there’s a loan for almost every international student.
Be sure to review each loan’s interest rates, terms, and eligibility requirements to find the best fit for your academic and financial needs.
