Pursuing a postgraduate degree in the U.S. or Canada offers incredible opportunities, but the cost can be a major challenge for international students. Fortunately, financial assistance for postgraduate students is available. International students can apply for scholarships, grants and student loans for postgraduate degrees, including no-cosigner loans that make funding more accessible. This brief overview explores financial aid for international student master’s programs, highlights the benefits of no-cosigner loans and explains how to apply for them. With the right financial assistance for postgraduate students, studying abroad can become an achievable goal rather than a financial burden.
Types of financial assistance for postgraduate students
As an international student, you likely cannot qualify for federal loans or grants from the U.S. or Canadian governments. But don’t worry – there are still plenty of options for financial assistance for postgraduate studies. From international scholarships and assistantships to private student loans, there are many ways to cover tuition and living expenses. Here are some possibilities for funding your degree:
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Get the financial information you need to take charge of your future
The advantages of a no-cosigner loan
An international student loan without a cosigner eliminates the need for a family member, friend or other guarantor. Instead of assessing credit history, lenders evaluate academic background, career potential and earning ability. No-cosigner loans recognize a student’s potential success, making them a powerful option for financial assistance for postgraduate students.
Here are some key benefits of no-cosigner loans:
How to apply for student loans
Applying for a student loan as an international student involves several important steps.
When comparing different international student loan offers, consider the following factors:
MPOWER Financing: No-cosigner loans and student assistance
MPOWER Financing is an international student loan company that provides financial assistance for postgraduate students from other countries studying in the U.S. and Canada. In addition to offering no-cosigner loans at fixed, competitive interest rates, MPOWER offers a range of student loan services such as visa and career support that help with the process of immigrating to North America, succeeding in your studies and finding an internship or job.
When you choose to work with MPOWER, you can:
MPOWER Financing student loan
A loan based on your future earnings
FAQs
Many universities, nonprofit organizations and private institutions offer scholarships for international postgraduate students. You can check university websites, scholarship databases and organizations that support students from your home country.
If you’re not eligible for scholarships or assistantships, you can explore private student loans, financial aid programs in your home country and part-time, on-campus employment to help cover your expenses.
Yes, many student loans in the U.S. can be used to cover a variety of educational costs, including tuition, housing, books, meal plans and transportation. In Canada, loan funds typically cover tuition and other university-invoiced expenses. Be sure to check the specific terms of your loan and what your university will allow.
Repayment terms are different for each lender. Some require in-school, interest-only payments, which help you reduce the overall cost of the loan, while others offer a grace period until after graduation before you need to start making payments. It’s important to remember that interest on your loan will accrue even if you’re not repaying, so you will end up paying more over the life of the loan.
Some lenders offer deferment options. It’s best to communicate with your lender as soon as possible if you experience financial difficulties.
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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