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Loans for students without a cosigner: A guide for international postgraduates

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For many international postgraduate students, finding funding for your degree is a balancing act. Tuition is only part of the picture – housing, textbooks and health insurance can strain even the most carefully planned budget. While many private student loans for non U.S. citizens require a U.S.-based cosigner, that isn’t always an option.

This is why loans for students without a cosigner have become increasingly important. These loan programs open doors for international students who want to invest in their future but don’t have family or financial connections in the U.S.

Here’s what to know about these options, how they work and how to find the best fit for your postgraduate journey.

Types of loans available without a cosigner

When you’re exploring international student loans in the U.S. without a cosigner, you’ll see a few distinct categories:

  • Specialized no-cosigner loans: Lenders like MPOWER Financing evaluate your future earning potential rather than your credit history. These loans are tailored to international students and don’t require collateral.
  • University-specific programs: Some universities partner with local banks or create their own loan programs for international postgraduates. Availability varies, but these can offer favorable rates and flexible repayment.
  • Personal student loans without cosigner: Though less common, some banks or credit unions may offer personal loans that can be used for educational costs. These typically require you to be in the U.S. for a while and may have stricter criteria for international applicants.

Each option has different terms, interest rates and eligibility requirements. It’s crucial to read the details and consider how each loan fits with your broader financial plan.

Why no-cosigner student loans matter for international postgraduates

For international students, navigating the U.S. financial system can be intimidating. Many traditional lenders want a cosigner – someone with established credit in the U.S. who can vouch for you if you miss payments. But for most international postgraduates, this isn’t realistic.

No-cosigner loans for international students level the playing field. They look at what you’re studying and where you’re headed – not whether you have family with a long U.S. credit history. This focus on your academic program and future potential means you can access funding based on what you’re working toward, not just what your family can provide.

It’s an approach that respects the unique position of international postgraduates: driven, resourceful and determined to build a new chapter in the U.S.

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Balancing no-cosigner loans with other funding sources

Even with a no-cosigner loan, most international postgraduates rely on multiple funding streams:

  • International scholarships and grants: These reduce how much you’ll need to borrow. Many universities and organizations offer awards specifically for international postgraduates.
  • Family and personal savings: Often used to cover visa fees, travel or emergency costs.
  • On-campus work and internships: Many students are able to work part time on campus or take on paid internships to help cover living expenses.

No-cosigner loans fill a critical gap between what you can earn or save and what you need to complete your program with confidence.

What to look for in a no-cosigner loan partner

When choosing a no-cosigner loan, look beyond just the interest rate. Consider:

  • Eligibility criteria: Some lenders focus on your academic program and expected future earnings rather than your credit profile.
  • Transparency and clarity: The best lenders clearly outline interest rates, repayment terms and any fees upfront – no surprises later.
  • Support for visa transitions: International postgraduates often move from F-1 to optional practical training (OPT) or STEM OPT. A lender who understands these transitions can be a valuable partner.
  • Flexibility: Some lenders offer grace periods or interest-only payments while you’re still studying – essential if you’re focused on research or an internship.
  • Benefits beyond funding: In addition to funding, some lenders provide tools to help you find internships and job opportunities specifically eligible to F-1 students and offer resume and job search support so you can turn your new postgraduate degree into the beginning of a new career.

These details matter because your loan isn’t just about today – it’s about setting you up for financial stability after graduation.

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MPOWER Financing’s approach to no-cosigner loans for international postgraduates

MPOWER Financing takes a student-first approach to lending – no cosigner or collateral required. Instead, MPOWER considers your academic program, field of study and future earning potential to evaluate your eligibility for graduate student loans for international students. Here’s what sets MPOWER apart:

  • Fully online application: Apply from anywhere, anytime, without paperwork delays.
  • Fixed interest rates: Predictable monthly payments that are inflation-proof, so you can plan your budget with confidence.
  • Loan amounts: Borrow from US$2,001 to US$100,000, enough to cover tuition and living expenses at U.S. schools. Loans for study in Canada typically cover tuition and other university-invoiced expenses.
  • No hidden fees: No prepayment penalties or hidden charges – what you see is what you get.
  • Access to Path2Success: MPOWER’s platform offers exclusive tools to help with job searches during OPT, budgeting resources and resume support.

MPOWER’s focus is clear: to remove barriers and help international postgraduates invest in themselves – on their own terms–to accelerate their career.

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FAQs

Are there really no-cosigner loans available for international students?

Yes! Several lenders now offer loans without requiring a U.S.-based cosigner, using your future earning potential as a basis for approval.

Do these loans cover living costs or only tuition?

Many no-cosigner loans in the U.S. cover the full cost of attendance, including rent, health insurance and even an education-related computer. Loans in Canada may be limited to tuition and other university-invoiced expenses.

Is it more expensive to borrow without a cosigner?

Rates can be slightly higher since there’s more risk for the lender, but this varies by program and lender terms.

Can I use a no-cosigner loan for emergencies or travel?

Generally, these loans (like F-1 student loans)  are for tuition and essential living costs – check with your lender for specific guidelines.

Will borrowing without a cosigner impact my visa status?

No. Loans don’t affect your visa, but repaying on time helps you build a financial track record in the U.S.


*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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