Can’t find a cosigner? Here’s how to still secure an education loan
For many international students, getting accepted into a U.S. or Canadian university is only half the battle. The next hurdle? Figuring out how to pay for it – especially if you don’t have a U.S.-based cosigner.
Traditional private lenders often require a cosigner with local credit history, income or collateral. But that’s a deal-breaker for most international applicants, whose families are abroad and unfamiliar with North American financial systems. It’s a frustrating barrier – and one that stops thousands of students from enrolling each year.
But there’s good news: Securing a private student loan without a cosigner is possible. You just need to know which options are designed for your situation, and what lenders actually look for beyond a credit score.
Why cosigners are a sticking point for international students
Most private lenders in the U.S. and Canada rely heavily on credit scores, debt-to-income ratios and other financial indicators to decide who qualifies for loans. Since international students often have no local credit history, lenders require a cosigner – someone who agrees to repay the loan if you can’t.
But here’s the problem:
- Most international students don’t have close family or friends in the U.S. or Canada.
- Even if they do, few people are willing (or able) to take on the legal risk of cosigning.
- The cosigner requirement adds stress, delays applications or blocks enrollment altogether.
These highlight the importance of international student loan company options that focus on your future, not your current credit. This challenge isn’t about motivation – it’s about access. And that’s where alternative lending models come in.
What lenders look for when you don’t have a cosigner
Lenders that work with international students take a different approach. Instead of requiring someone else’s credit profile, they assess your future potential.
That means they may evaluate:
- Your university and degree program
- Whether your degree leads to high employability (e.g., STEM, MBA, public health)
- Your academic record and financial need
- Your current visa and enrollment status
- Your estimated earning potential after graduation
In this model, education loans without cosigner options become realistic paths forward, focusing on your potential, not just your past.
Types of no-cosigner loan options worth exploring
If you’re struggling to find a cosigner, here are some alternatives to consider:
1. Purpose-built international student lenders
These companies specialize in funding students without U.S. or Canadian financial history. They often partner directly with universities and work across multiple countries. MPOWER Financing is a leading education loan lender, with loans that cover tuition and, in the U.S., living expenses, too – no cosigner, no collateral required.
2. Government or development bank programs
Some students may qualify for home-country scholarships or loan programs through their government or central bank. These can sometimes be used abroad, but usually require returning home after graduation.
3. University-based aid
While rare, some universities offer no-cosigner institutional loans for international university students. These are typically small and require strong academic performance or departmental nomination.
4. Hybrid approaches
Some students combine scholarships for international students, savings and small no-cosigner loans to bridge the gap. It’s not always about one perfect solution – it’s about combining smart resources together.
A better path to funding for students without local financial support
MPOWER Financing was created specifically for international and DACA students who don’t have access to traditional loan systems. MPOWER’s no-cosigner student loans are available to international students attending over 500 approved schools in the U.S. and Canada – and focus on your future potential, not your current credit profile.
With MPOWER personal student loans without a cosigner, international students can:
- Borrow US$2,001 to US$100,000 to cover tuition, housing and insurance.
- Lock in fixed inflation-proof interest rates with no hidden fees.
- Access Path2Success, a free career support platform with job tools, student visa guidance and resume prep.
- Apply entirely online, with decisions based on academic and professional promise – not financial backing.
For international students without cosigners, MPOWER Financing offers more than international funding – it offers entry into a system that was created with you in mind.
You don’t need a cosigner to move forward
It’s easy to feel stuck when a cosigner stands between you and your degree. But the truth is, you’re not out of options – you just need to pivot to solutions designed for international students.
By exploring the right lenders, using future-focused criteria and asking the right questions early, you can find a way forward that works for your goals – and gets you one step closer to the classroom.
