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International student aid: Understanding your options

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For international postgraduates in the U.S., financing your degree is rarely a single-source solution. Between tuition, housing, health insurance and daily costs, you’re constantly balancing immediate needs and long-term plans. That’s where international student aid comes in – an umbrella term that covers a range of resources designed to help you build a funding plan that’s both realistic and resilient.

But navigating this world can be overwhelming. Let’s break it down: what aid options are out there, where most of your funding will likely come from and how to avoid the most common missteps.

What options fall under “international student aid”?

When people say “student aid” in the U.S., they often mean federal student loans and grants – funding international students can’t access. But there’s still a broad set of resources for international postgraduates:

  • Scholarships and institutional grants: Many universities offer scholarships specifically for international students, whether based on merit, need or research potential. These funds don’t need to be repaid and can significantly reduce your loan burden.
  • Emergency funds for international students in the U.S.: Small, one-time grants or no-interest loans designed to cover sudden crises like health emergencies or urgent family travel.
  • On-campus work: Jobs within F-1 visa rules (like library or research assistant roles) help cover daily expenses and build professional skills.
  • Loans for international university students: Private education loans that fill the gap after scholarships and savings – these often end up being the bulk of your funding.

Each of these sources plays a role and the mix you choose depends on your program, your goals and  visa policies.

International students sitting in a cozy café, reviewing a digital scholarship application on a laptop and taking notes in a small notebook.

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Where most international postgraduates find the bulk of their funding

The reality for most international postgraduates in the U.S. is that private student loans end up being the backbone of their funding plan. Here’s why:

  • No federal loan access: Federal student aid is off-limits to international students, making private loans the main borrowing option.
  • Coverage for living expenses: Private loans in the U.S. typically cover tuition and living costs – critical when housing and insurance can cost as much as tuition itself. Private loans in Canada may be limited to university-invoiced expenses like tuition.
  • Flexible eligibility: Some lenders require a U.S.-based cosigner, while others,like MPOWER Financing, don’t – opening the door for students without local family ties.
  • Alignment with academic timelines: Unlike personal loans, private education loans are structured to match your program’s length, with repayment tailored to the program as well.

This doesn’t mean loans should be your only resource – but they’re often the largest piece of the puzzle, bridging the gap between scholarships, work, personal savings and other forms of student aid for international students.

Common mistakes international students make when seeking aid

Even smart, driven students can trip up when navigating international student loans in U.S.. Here’s what to watch out for:

  • Underestimating living costs: Tuition might be your biggest number, but rent, health insurance and food can double your real costs. Choose aid that covers your full cost of attendance.
  • Overrelying on emergency funds: Emergency funds are for true crises – not long-term funding. Build a buffer or apply for loans that include living costs.
  • Ignoring repayment timelines: It’s tempting to focus on getting money now, but understand how interest rates and repayment schedules will shape your future.
  • Applying too late: Some scholarships and university funds have early deadlines – don’t wait until you’re already in the U.S. to start looking.

Avoiding these mistakes doesn’t just save money – it protects your mental health and ensures you can focus on your degree, not just your bank balance.

International student meeting with a campus financial advisor; a clear “International Student Services” sign is visible in the background, symbolizing personalized aid guidance.

About MPOWER Financing

At MPOWER Financing, financial support for international postgraduates isn’t just about numbers on a loan document – it’s about building a foundation for your future. Unlike traditional lenders who might see you as a credit risk, MPOWER looks beyond your past and focuses on what matters: your degree program, your drive and your career potential.

MPOWER’s loans are crafted to cover not just tuition but also the essential costs of living in the U.S., from housing and insurance to daily expenses that make life as a student possible. (Loans for study in Canada are typically limited to tuition and other university-invoiced expenses.)

There’s no cosigner required and no need for collateral – just a clear, transparent process you can navigate from anywhere in the world.

But what truly sets MPOWER apart is the way they support students beyond the loan itself. Their Path2Success program offers free practical help for every stage of your journey, from budgeting and building a credit history to preparing for your career during optional practical training (OPT) and STEM OPT. Their team, many of whom were once international students themselves, understands the emotional and practical challenges of studying abroad. They know that real financial support means flexibility, trust and a partnership that respects your ambitions.

For international postgraduates, MPOWER is more than a lender – it’s a guide and a champion for the long path from campus to career.

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FAQs

What’s included under “international student aid” in the U.S.?

It covers scholarships, university grants, emergency funds and private loans for living costs and tuition – since federal aid isn’t an option.

Why are private loans so important for international postgraduates?

They’re often the biggest source of financial support for international students in the U.S. after scholarships, covering rent, insurance and other essential living costs.

Are there mistakes international students often make when seeking aid?

Yes – underestimating living expenses, waiting too long to apply or relying on emergency funds for long-term needs.

Can I work on campus to help with daily expenses?

Yes! F-1 visa holders can work on campus part time, which helps reduce what you need to borrow and adds valuable work experience.

How do I find the best loan for my situation?

Look for lenders that understand your visa status and future plans and that offer flexible repayment terms that work for your academic journey.


*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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