No-Cosigner Loans: A Shortcut to U.S. & Canadian Funding for Nepali Students
Getting accepted to a postgraduate program at a university abroad is a huge milestone, but for many Nepali students, it is only half the challenge. The other half is finding a way to pay for higher education without collateral, without a cosigner and without overwhelming family pressure.
Traditional student loans in Nepal often require land as security or a family guarantor. If your parents cannot pledge property or meet strict income requirements, you may feel like your study abroad plan is over before it begins.
No-cosigner student loans offer another path. These loans are designed for international students who qualify on their own, without needing a cosigner, collateral or a long credit history. For Nepali students, that can make all the difference.
Why cosigners are a major barrier in Nepal
Most banks in Nepal offer study abroad loans only if a student’s family can provide:
- Land or property as collateral
- A stable source of income in Nepal
- A guarantor with proven repayment history
But not every student has access to that kind of support. Even families who value education may not have the resources to qualify for a loan. And getting a cosigner in the U.S. or Canada is rarely possible for first-time international students.
This system leaves many qualified, hardworking Nepali students with few options, especially if they come from middle- or lower-income households.
What is a no-cosigner international student loan?
A no-cosigner loan is a type of private student loan that is based on your academic potential, not your family’s finances. These Bina dhito loans are issued by international lenders that specialize in supporting global students.
Unlike traditional loans, no-cosigner options do not require:
- A financial guarantor in the U.S. or Canada
- Land or home equity from your family
- An existing credit history
Instead, your eligibility is based on your university, degree program and future earning potential. These loans are typically available to students who have already received admission to a recognized U.S. or Canadian university for a postgraduate STEM or business degree.
MPOWER Financing supports Nepali students with no-cosigner loans
MPOWER Financing specializes in providing no-cosigner loans for international students in the U.S. and Canada. For Nepali students, MPOWER offers a simplified process that removes traditional roadblocks.
Here’s how MPOWER makes it easier:
- No cosigner or collateral required
- Fixed rate student loans with no prepayment penalties
- Loans available to students at over 500 U.S. and Canadian universities
- Support for tuition and living expenses at eligible schools in the U.S.; tuition and university-invoiced expenses in Canada
- Eligibility based on your school, postgraduate program and graduation timeline
- Transparent loan terms in English
- Additional resources through Path2Success, including visa guidance and career support
Nepali students often face uncertainty around loan terms and repayment expectations. MPOWER’s approach is designed to reduce confusion, offer clarity and make higher education more accessible, especially for students who are motivated but unsupported by traditional lenders.
If you’ve been admitted to a university but don’t have a cosigner or collateral, this could be your opportunity to turn that offer letter into a real future.
Why this opportunity matters for Nepali students
For many students in Nepal, education loans are viewed as a family obligation. Parents may sell land, borrow from relatives or co-sign risky loans just to make overseas education possible. This can create stress for both students and families.
No-cosigner loans offer an alternative that allows you to:
- Finance your education independently
- Reduce the financial burden on your family
- Avoid the emotional pressure that comes with pledged assets
- Make decisions based on your goals and future potential, not your family’s bank balance
With the right lender, these loans also come with transparent terms and flexible repayment options, giving you more control over your future.
