Finding the Right Graduate Student Loans as an International Student in the U.S.

For international students pursuing a master’s degree or other advanced program in the U.S., funding is one of the biggest hurdles to clear. Unlike domestic students, you don’t have access to federal student loans and scholarships, while incredibly valuable, usually don’t cover everything.

This is where graduate student loans for international students come in – private and specialized funding options that can help you bridge the gap between what you have and what you need. From tuition and lab fees to housing and daily living costs, these loans can be the difference between getting by and truly thriving in your program.

This guide dives into everything you need to know about graduate student loans, from how they differ from undergrad options to what to look for in a lender.

Why graduate student loans for international students are necessary

Graduate programs are intense and immersive – often blending cutting-edge research with professional development opportunities. But they’re also expensive, especially for international students. Housing, insurance, travel and even conference fees can add thousands to your budget.

For international students, federal loan programs simply aren’t an option. Private and personal education loan options step in to fill that gap. These loans are designed for students who don’t have permanent residency and can’t rely on federal aid.

Graduate student loans also recognize that your future earning potential can be much higher. Lenders often evaluate your program, your field and your expected career outcomes – not just your current income. This means that even without a long credit history in the U.S., you can access funding that fits your postgraduate plans.

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Your loan options as an international graduate student

The world of international student loans in the U.S. is complex, with several types of lenders and programs to navigate:

Private lenders with cosigner requirements

Many traditional banks and financial institutions offer loans to international students, but they often require a U.S.-based cosigner. This can mean better rates, but it’s not realistic for everyone – especially if you don’t have family in the U.S.

No-cosigner loan programs

Some lenders have recognized the unique challenges international graduate students face. Companies like MPOWER Financing offer no-cosigner loans that evaluate your potential – not your past – making them accessible to students who are building their credit from scratch.

Personal education loans

Though not always tailored to international students, some personal loans can be used to cover educational costs. These often require a U.S. credit history and can have less flexible repayment options.

Each option has different eligibility criteria, interest rates and repayment terms. Comparing them carefully ensures you’re not just choosing the first loan you find, but the one that truly supports your academic journey.

Balancing loans with other financial support

For most international graduate students, loans are just part of the picture. A strong financial plan blends multiple sources:

Scholarships and grants: The best starting point – these don’t need to be repaid and can significantly reduce your borrowing needs.
Family and personal savings: Many students use savings to cover upfront costs like visa fees or initial housing deposits.
Loans for international university students: A broad term that includes loans at all levels – undergraduate and postgraduate – offered by private lenders and specialized programs.
On-campus work and internships: With F-1 visa rules in mind, many students find ways to offset daily expenses through authorized work opportunities (alongside F-1 student loans).

Understanding how these pieces fit together – and how to make them work for your personal budget – can make all the difference in feeling secure throughout your program.

Insert Image alt text hereGroup of international graduate students chatting at an outdoor café, casually sharing tips about managing loans, part-time work and school life

About MPOWER Financing

MPOWER Financing takes a collaborative approach to graduate student funding, built on the belief that your degree isn’t just an expense – it’s an investment in your future.

Unlike traditional lenders, MPOWER doesn’t require a cosigner or collateral. Instead, it looks at your program, your field of study and your career potential to determine eligibility. That means you can apply with confidence, even if you’re just starting to build your U.S. financial profile.

MPOWER’s process is designed for international students from start to finish. The application is entirely online and loan amounts range from US$2,001 to US$100,000 – enough to cover tuition, housing and the essentials of daily life when studying at U.S. schools. Loans for study in Canada typically cover tuition and other university-invoiced expenses only. The terms are clear, with fixed interest rates and no surprise fees.

Beyond private student loans, MPOWER provides international graduate students with resources that go far beyond the loan itself. Its Path2Success program includes career-building tools, job search guidance for optional practical training (OPT) and STEM OPT roles and practical financial tips to help you budget and plan as you transition from student to professional.

For international graduate students ready to invest in their degree and future career, MPOWER offers more than financial support for international students in the U.S. – it offers a partner that understands the stakes and the promise of your postgraduate journey.

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FAQs

Can international graduate students get loans in the U.S. without a cosigner?

Yes! Lenders like MPOWER offer no-cosigner loans that evaluate your future potential, not your family finances.

Do graduate loans cover living expenses too?

Most do in the U.S. – covering not just tuition, but also rent, insurance and books.

Are loans from my university a better option?

They can be. University loans sometimes have lower rates or flexible repayment, though availability can be limited.

Will loan repayment affect my visa status after graduation?

No. Loan repayment isn’t tied to your visa directly, but budgeting well can help you stay financially stable during OPT or H-1B transitions.

What’s the biggest mistake to avoid with these loans?

Not reading the fine print! Always check repayment timelines, interest rates and whether the loan covers all the costs you’ll face.

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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