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U.S. education loan for international students: A path to funding your postgraduate dreams

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Studying in the U.S. as an international student opens doors to advanced education and global career opportunities. But those doors come with a price tag – tuition, housing, health insurance and more. For many, an education loan is the bridge that makes it all possible.

The challenge? Traditional U.S. lenders often require a cosigner or collateral – barriers most international students simply can’t meet. Fortunately, there are lenders and resources designed to help you move forward, even if you’re building your life in the U.S. from scratch.

Here’s how to find the right funding fit for your postgraduate degree.

Key features to look for

When comparing options, keep an eye out for:

  • No-cosigner or collateral requirement: Many international students don’t have collateral or a U.S.-based cosigner – therefore, look for lenders who understand that.
  • Coverage beyond tuition: Some loans cover living expenses (for U.S. schools) or required health insurance.
  • Fixed interest rates: These loans are inflation-proof and help you plan your budget confidently, with no surprises.

Lenders who specialize in international student loans in the U.S. often factor in your university, degree program and postgrad job prospects instead of focusing only on your financial past.

Insert Image alt text hereStudent checks loan eligibility on laptop with “No Cosigner Needed” sticky note

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What are education loans for international students?

Education loans for international students in the U.S. are loans that help cover the cost of tuition and related expenses for postgraduate programs. These loans can be a critical resource when scholarships or personal savings aren’t enough to close the gap.

 Education loans typically fall into two categories:

  • Personal education loans: Tailored specifically to students – offering flexible terms, fixed or variable interest rates and eligibility based on your academic program and future earning potential.
  • Graduate student loans for international students: A subset of education loans focusing on postgraduate programs, usually covering tuition and living expenses during your degree.

How to prepare for a loan application

A successful loan application starts with preparation. Here’s how to put your best foot forward:

  • Gather all required documents: proof of admission, visa details, estimated cost of attendance and any existing financial aid.
  • Research your postgraduate program’s career outcomes: Lenders want to see you’re investing in a field with strong job opportunities.
  • Be realistic about how much to borrow: Don’t take out more than you need. Start by adding up tuition, fees and living expenses – then subtract any scholarships or savings you already have.

This approach helps you avoid overborrowing and sets you up for repayment success.

Insert Image alt text hereStudent calculates U.S. education costs with visa document and printed budget sheet

A lender built around your postgraduate potential

For international students who can’t rely on a cosigner or U.S. credit score, MPOWER Financing offers an alternative – one designed specifically with your situation in mind.

MPOWER provides:

  • No-cosigner student loans and no-collateral for international postgraduates in approved U.S. and Canadian programs
  • International student loan amounts from US$2,001 to US$100,000, flexible enough to cover tuition, housing and education-related costs in the U.S, and tuition and other university-invoiced expenses for Canadian schools.
  • Fixed rate student loans and no hidden fees – so you can plan your budget confidently
  • Online applications accessible globally, with decisions based on your university, degree program and career potential
  • Access to Path2Success, MPOWER’s career and financial support hub with job search tools, budgeting help and visa transition guidance

By focusing on your academic future – not your past – MPOWER helps you fund your degree and move forward with confidence.

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FAQs

What makes U.S. education loans for international postgraduates different?

Loans for international university students are designed for students on F-1 or similar visas, often without a U.S. credit score. Unlike domestic loans, they focus on your academic program and future job prospects.

Can I use these loans for living costs too?

Yes – for schools in the U.S. Many lenders, including MPOWER, allow you to use loan funds for tuition, rent, groceries and other essential living costs while you’re studying at U.S. schools. Loans for study in Canada typically cover tuition and other university-invoiced expenses.

Are these loans only for certain postgraduate programs?

Some lenders prioritize STEM, MBA or health care programs because of their strong job outlook. Check each lender’s eligibility list to confirm your program is included.

How do I know if I’m borrowing too much?

Start with your university’s official cost of attendance. Subtract any scholarships, family funds, other forms of student aid for international students and part-time income you expect. The remaining gap is what you should consider borrowing.

What happens if I leave the U.S. after graduation?

You’ll still be responsible for repaying your loan, even if you move back home. Some lenders, like MPOWER, have global repayment support to make this easier.


*Rates as low as 9.99% (11.16% APR). This interest rate and APR includes a 0.25% discount for automatic recurring payments.

DISCLAIMER – Subject to credit approval, loans are made by Bank of Lake Mills or MPOWER Financing, PBC. Bank of Lake Mills does not have an ownership interest in MPOWER Financing. Neither MPOWER Financing nor Bank of Lake Mills is affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. None of the information contained in this website constitutes a recommendation, solicitation or offer by MPOWER Financing or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.

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