Studying in the United States is an exciting opportunity. When it comes to funding this new chapter, there are various options including scholarships, grants, and student loans.
While helpful, scholarships and grants may not cover your entire cost of attendance. If so, a private international student loan may be your next step.
To get you prepared, let’s dive into everything you need to know about student loans as an international student.
What are International Student Loans?
International student loans are a type of private student loan available to non-U.S. citizens studying in the United States. International student loans can help you cover expenses such as tuition, room and board, books, travel expenses, health insurance, and more.
Why International Student Loans?
On average, international students pay between $20,000 and $40,000 in tuition per year to study in the United States, according to the International Education Specialists. Note that this is strictly tuition and does not include any additional fees, housing, meal plan, travel expenses, insurance, phone plan, etc.
Because of this, most international students are unable to pay for college out of pocket. Even with scholarships and grants, there still tends to be a remaining balance. To cover that remaining balance, many international students opt for a private student loan.
What Types of Loans are International Students Eligible For?
As an international student, you are more than likely eligible for private international student loans. To be eligible for federal student loans, however, you must meet certain criteria.
Are International Students Eligible for Federal Student Loans?
Are International Students Eligible for Federal Student Loans?
As an international student, you are only eligible for federal student loans if you are an eligible noncitizen. An eligible noncitizen is someone who:
- Is a U.S. national, such as a citizen of American Samoa or Swains Islands
- Is a U.S. permanent resident with a permanent residence card or “green card”
- Has an Arrival-Departure Record (I-94) from the Department of Homeland Security showing any of the following statuses:
-
- Refugee
- Asylum granted
- Indefinite parole
- Humanitarian parole
- Cuban-Haitian entrant
- Holds T-nonimmigrant status
If you are an eligible noncitizen, you should complete the FAFSA to apply for federal student aid. Be sure to complete the FAFSA and pursue any federal aid prior to exploring private international student loans.
Are International Students Eligible for Private Student Loans?
If you are not an eligible noncitizen, and therefore ineligible for federal student loans, private international student loans will be your best option.
Most international students will be eligible for a private student loan due to the wide variety of eligibility criteria. Each individual lender will require that you meet a unique set of criteria. Whether you meet that eligibility criteria depends on how the lender chooses to evaluate borrowers.
In general, private student lenders will ask you to provide information such as:
- Proof of enrollment
- Your student visa
- Your tuition bill
- Proof of identity
Then, private student lenders will use this information in combination with your credit history to determine your eligibility. Having a U.S. citizen or permanent resident cosigner may help you secure a private student loan.
The latest rates from Sparrow’s partners
If you want to skip pre-qualification and apply directly with a lender, you can do so by clicking Apply below.
Importance of a Cosigner
Around 92% of all undergraduate student loans are cosigned. As an international student, most lenders will ask you to have a U.S. citizen or permanent resident cosigner. Having a cosigner will not only help you secure a student loan as an international student, but help you secure better interest rates and terms.
What is a Cosigner?
A cosigner is an individual who would sign onto the loan alongside you. By signing the loan with you, the cosigner takes full responsibility for the loan if you are unable to repay it. While not required, having a creditworthy cosigner can help you secure lower interest rates and better terms on your student loan.
Why Does Having a Cosigner Help?
When you borrow money from a lender, the lender evaluates you based on the level of risk you may bring to them. Lenders want to know that you’re going to pay them back. So, they typically use your credit history to evaluate your past financial performance to determine how likely you are to pay them back, and on time.
If your financial history demonstrates responsibility, you pose less risk to the lender. If your financial history demonstrates irresponsibility, you may be a riskier borrower for a lender.
As an international student, you likely won’t have a financial history in the United States. This makes you challenging to evaluate from a lender’s perspective. Having a U.S. citizen cosigner allows lenders to review their financial history, determine their responsibility, and set the terms of the loan based on that.
So, if you don’t have a financial history in the United States, but your U.S. citizen cosigner does, you can score significantly better rates and terms than if you took on the loan without the cosigner. When possible, you should pursue cosigned loan options before non-cosigned options.
Can You Get Loans Without a Cosigner?
If you don’t have a U.S. citizen cosigner, you aren’t out of luck. You can still get an international student loan without a cosigner. There are lenders that work with students just like you.
First, make sure that you meet the basic eligibility requirements of most private student lenders:
- Go to an approved school
- Come from a qualifying country
- Be enrolled at least half-time in an eligible program
- Live in the United States while attending school
- Verify your identity
- Qualify for a student visa to study in the United States
Each individual lender will have their own unique set of eligibility requirements. Starting with meeting the basics is a good first step.
Can I Get a Student Loan as an International Student with No SSN?
When it comes to private student loans, lenders typically check your credit score. In order to do so, lenders typically need your SSN. As an international student, you likely won’t have an SSN, but don’t worry. There are various lenders that don’t require SSNs.
The easiest way to get a private student loan as an international student with no SSN is to have a U.S. citizen cosigner. If you don’t have access to a cosigner, there are lenders that work with students without cosigners or SSNs.
How Much Can You Get in International Student Loans?
Typically, international student loans will cover up to the cost of attendance minus any other aid you’ve already received. This level of coverage is crucial as an international student because expenses can be higher due to travel and getting settled in your new country.
For example, let’s say you are attending a university for the 2023-2024 academic year with the following expenses:
- Tuition: $50,000
- Room and Board: $12,000
- Campus Health Insurance: $3,000
- Books and Supplied: $1,500
- Miscellaneous Fees: $750
- Transportation: $500
- Total Expenses: $67,750
In this example, your total cost of attendance would be $67,750 for the academic year. If you received $30,000 in scholarships, your remaining balance would be $37,750. You would be eligible to borrow up to $37,750 in student loans to cover that remaining balance.
Best Student Loans for International Students
The best student loan will always be the one that works best for you. However, these are our top picks for international student loans.
International student loans without cosigner
MPOWER
MPOWER offers non-cosigned student loans to international students. MPOWER does not require borrowers to have a credit history or a cosigner. Instead of using your credit history to determine your eligibility, MPOWER uses information such as your future income potential.
Prodigy Finance
Prodigy Finance offers non-cosigned student loans to international students. Prodigy Finance does not require borrowers to have a high credit score or a cosigner. Prodigy Finance uses information such as your credit history and future income potential to determine your eligibility.
International student loans with a cosigner
Ascent
Ascent offers traditional cosigned credit-based loans for international students. With a qualifying U.S. cosigner, international students can be eligible for Ascent private student loans.
College Ave
College Ave offers traditional cosigned credit-based loans for international students. In order to be eligible to borrow with College Ave, borrowers must have a Social Security Number and a U.S. citizen or permanent resident cosigner.
Earnest
Earnest offers traditional cosigned credit-based loans for international students. In order to be eligible to borrow with Earnest, borrowers must apply with a creditworthy U.S. citizen or permanent resident cosigner. The borrower must also have a physical address in the United States and a Social Security Number.
Sallie Mae
Sallie Mae offers traditional cosigned credit-based loans for international students. In order to be eligible to borrow with Sallie Mae, borrowers must apply with a creditworthy U.S. citizen cosigner.
How to Apply for International Student Loans
To apply for an international student loan, you’ll need to know when you plan to enroll, how much it’s going to cost, and if you’ll have a cosigner.
When you plan to enroll. To apply for a student loan, you’ll need to know where you’re going to school and how much it will cost. Some private lenders have restrictions on what schools they work with and how much they allow you to borrow.
How much it’s going to cost. To apply for a student loan, you’ll need to let the lender know how much you want to borrow. Your school will provide you with the overall cost of attendance, but be sure to factor in additional costs such as travel expenses, transportation, health insurance, and more.
If you’ll have a cosigner. Before applying for a student loan, ask around to see if you can secure a cosigner. If you can, make sure to know all of the individual’s information so you can input it into the lender’s application.
Should I Take Out An International Student Loan?
Whether you decide to fund your education with a private international student loan is ultimately up to you. Before accepting any loan, however, you should exhaust all scholarship and grant opportunities first.
If, after accepting scholarships and grants, you are unable to pay your remaining balance out of pocket, a private student loan may be the next best option. When you’re ready, know that Sparrow has your back the whole way.
Student loan rates from our partners
Ascent
Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills, or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentFunding.com/Ts&Cs. Rates are effective as of 4/1/2025 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest rates require full
principal and interest payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the repayment examples above, based on the amount of time you spend in school and any grace period you have before repayment begins.
Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills, or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentFunding.com/Ts&Cs. Rates are effective as of 4/1/2025 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest rates require full
principal and interest payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the repayment examples above, based on the amount of time you spend in school and any grace period you have before repayment begins.
LendKey
1 – Terms and Conditions Apply
Loan products, terms, and benefits may be modified or discontinued by participating lenders at any time without notice. Rates displayed are reserved for the most creditworthy consumers who enroll to make automatic monthly payments. Your initial rate will be determined after a review of your application and credit profile. Variable rates may increase after consummation. You must be either a U.S. citizen or Permanent Resident in an eligible state and from an eligible school, and meet the lender’s credit and income requirements to qualify for a loan. Certain membership requirements (including the opening of a share account, a minimum share account deposit, and the payment of any applicable association fees in connection with membership) may apply in the event that an applicant wishes to apply with, and accept a loan offered from, a credit union lender. If you are not a member of the credit union lender, you may apply and become a member during the loan application process if you meet the lender’s eligibility criteria. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate. Loans for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not available via LendKey.com.
2 – Cosigner Release
Some lenders participating on LendKey.com may offer the benefit of cosigner release. Cosigner release is subject to lender approval. In order to qualify, the borrower, alone, must meet the following requirements: (1) Make the required number of consecutive, on-time full principal and interest payments as indicated in the borrower’s credit agreement during the repayment period (excluding interest-only payments) immediately prior to the request. Any period of forbearance will reset the repayment clock; (2) The account cannot be in delinquent status; (3) The borrower must provide proof of income indicating that he/she meets the income requirements and pass a credit review demonstrating that he/she has a satisfactory credit history and the ability to assume full responsibility of loan repayment; (4) No bankruptcies or foreclosures in the last sixty months; and (5) No loan defaults.
3 – Autopay Rate Reduction
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments.
4 – AutoPay Discount & Lowest Interest Rate
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised APR is only available for loan terms of 10 years and is reserved for the highest qualified applicants, taking into consideration the applicant’s credit and other factors.
1 – Terms and Conditions Apply
Loan products, terms, and benefits may be modified or discontinued by participating lenders at any time without notice. Rates displayed are reserved for the most creditworthy consumers who enroll to make automatic monthly payments. Your initial rate will be determined after a review of your application and credit profile. Variable rates may increase after consummation. You must be either a U.S. citizen or Permanent Resident in an eligible state and from an eligible school, and meet the lender’s credit and income requirements to qualify for a loan. Certain membership requirements (including the opening of a share account, a minimum share account deposit, and the payment of any applicable association fees in connection with membership) may apply in the event that an applicant wishes to apply with, and accept a loan offered from, a credit union lender. If you are not a member of the credit union lender, you may apply and become a member during the loan application process if you meet the lender’s eligibility criteria. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate. Loans for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not available via LendKey.com.
2 – Cosigner Release
Some lenders participating on LendKey.com may offer the benefit of cosigner release. Cosigner release is subject to lender approval. In order to qualify, the borrower, alone, must meet the following requirements: (1) Make the required number of consecutive, on-time full principal and interest payments as indicated in the borrower’s credit agreement during the repayment period (excluding interest-only payments) immediately prior to the request. Any period of forbearance will reset the repayment clock; (2) The account cannot be in delinquent status; (3) The borrower must provide proof of income indicating that he/she meets the income requirements and pass a credit review demonstrating that he/she has a satisfactory credit history and the ability to assume full responsibility of loan repayment; (4) No bankruptcies or foreclosures in the last sixty months; and (5) No loan defaults.
3 – Autopay Rate Reduction
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments.
4 – AutoPay Discount & Lowest Interest Rate
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised APR is only available for loan terms of 10 years and is reserved for the highest qualified applicants, taking into consideration the applicant’s credit and other factors.
Earnest
Student Loan Origination (Private Student Loan) Interest Rate Disclosure:
Actual rate and available repayment terms will vary based on your income. Fixed rates range from 3.72% APR to 16.74% APR (excludes 0.25% Auto Pay discount). Variable rates range from 5.24% APR to 17.10% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan origination loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once per month. Although the rate will vary after you are approved, it will never exceed 36% (the maximum allowable for this loan). Please note, Earnest Private Student Loans are not available in Nevada. Our lowest rates are only available for our most credit qualified borrowers and contain our .25% auto pay discount from a checking or savings account. It is important to note that the 0.25% Auto Pay discount is not available while loan payments are deferred.
Earnest Private Student Loans are made by One American Bank, Member FDIC, or FinWise Bank, Member FDIC. One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104. Finwise Bank, 756 East Winchester, Suite 100, Murray, UT 84107.
Earnest loans are serviced by Earnest Operations LLC, 300 Frank H. Ogawa Plaza, Suite 340, Oakland 94612. NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770) One American Bank, FinWise Bank, and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America.
© 2025 Earnest LLC. All rights reserved.
Student Loan Origination (Private Student Loan) Interest Rate Disclosure:
Actual rate and available repayment terms will vary based on your income. Fixed rates range from 3.72% APR to 16.74% APR (excludes 0.25% Auto Pay discount). Variable rates range from 5.24% APR to 17.10% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan origination loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once per month. Although the rate will vary after you are approved, it will never exceed 36% (the maximum allowable for this loan). Please note, Earnest Private Student Loans are not available in Nevada. Our lowest rates are only available for our most credit qualified borrowers and contain our .25% auto pay discount from a checking or savings account. It is important to note that the 0.25% Auto Pay discount is not available while loan payments are deferred.
Earnest Private Student Loans are made by One American Bank, Member FDIC, or FinWise Bank, Member FDIC. One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104. Finwise Bank, 756 East Winchester, Suite 100, Murray, UT 84107.
Earnest loans are serviced by Earnest Operations LLC, 300 Frank H. Ogawa Plaza, Suite 340, Oakland 94612. NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770) One American Bank, FinWise Bank, and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America.
© 2025 Earnest LLC. All rights reserved.
College Ave
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
(1) All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.
(2) As certified by your school and less any other financial aid you might receive. Minimum $1,000.
(3) This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 03/03/2025. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
(1) All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.
(2) As certified by your school and less any other financial aid you might receive. Minimum $1,000.
(3) This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 03/03/2025. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
Final Thoughts from the Nest
Whether you decide to take out a student loan to fund your international education depends on your unique circumstances. Regardless, know that Sparrow is here to help.
When you’re ready to start the student loan process, start the Sparrow request. Sparrow’s student loan search and comparison process allows you to see all of your student loan options in one place. We’ll even help guide you to the best loan option so you can be confident in your lending decision.
Sparrow’s goal is to give you the tools and confidence you need to improve your finances. Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products.