FAQs
How can Pakistani students approach relatives in the U.S. about cosigning a student loan?
How can Pakistani students approach relatives in the U.S. about cosigning a student loan?When approaching U.S.-based relatives about cosigning, Pakistani students should first research and prepare a detailed presentation about the specific loan terms, including interest rates, repayment schedules and total cost calculations in both dollars and rupees. Schedule a formal conversation rather than making an impromptu request, and clearly explain your academic plans, career goals, and how your degree will translate to employment opportunities. Prepare a comprehensive postgraduation financial plan showing how you’ll manage loan repayments through on-campus jobs, optional practical training (OPT) employment, and potential H-1B sponsorship. Offering additional security measures, such as having your parents in Pakistan sign a legally binding document promising to reimburse the cosigner if necessary, can also help ease concerns.
What alternative financing options exist for Pakistani students who cannot secure a cosigner for U.S. education?
What alternative financing options exist for Pakistani students who cannot secure a cosigner for U.S. education?Pakistani students without access to a U.S. cosigner have several alternatives beyond traditional loans. MPOWER specialises in no-cosigner loans for international students based on future earning potential rather than current credit history. Additionally, many Pakistani students combine multiple funding sources including merit scholarships from U.S. universities, graduate assistantships which provide tuition waivers and stipends, education loans from Pakistani financial institutions like HBL or NBP, and the Fulbright Program specifically available for Pakistani students pursuing master’s and PhD degrees in the United States.
How does having a cosigned U.S. loan impact a Pakistani student’s financial future when returning to Pakistan?
How does having a cosigned U.S. loan impact a Pakistani student’s financial future when returning to Pakistan?When Pakistani students with cosigned U.S. loans return to Pakistan, it’s helpful to be aware of a few important financial considerations. Repaying in U.S. dollars while earning in Pakistani rupees can increase overall loan costs if the exchange rate shifts unfavorably—but planning ahead can help manage this risk. Some international payments may include transfer fees of around 2–3%, although affordable remittance options are available to help minimize such charges. While U.S. credit history doesn’t directly transfer to Pakistan’s credit system, some premium banking relationships may offer ways to leverage international credit experience. It’s also a good idea to consult a local tax advisor to explore any available benefits on education loan interest under Pakistan’s current tax laws.
What are the specific advantages of MPOWER’s no-cosigner loans for Pakistani engineering and technology students?
What are the specific advantages of MPOWER’s no-cosigner loans for Pakistani engineering and technology students?MPOWER’s no-cosigner loans offer particular advantages for Pakistani engineering and technology students through their career path underwriting model that recognises the strong earning potential of these degrees. Pakistani students in STEM fields qualify for a three-year optional practical training period in the U.S. after graduation, providing extended income opportunity in dollars to repay loans. MPOWER offers interest rate considerations for students from top Pakistani technical institutions like the National University of Sciences & Technology, Lahore University of Management Sciences and the University of Engineering and Technology, along with other criteria to recognise potential future success. Additionally, MPOWER provides career support services including job placement assistance and interview preparation specifically tailored for international students navigating the U.S. job market, plus networking opportunities with successful Pakistani professionals in the U.S. technology sector.
