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Making sense of student aid for international students

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Navigating the U.S. financial landscape as an international postgraduate can be challenging, but understanding the different kinds of aid available is the first step toward a confident start. Unlike domestic students who can turn to federal aid programs, international postgraduates must piece together a blend of resources that includes loans, scholarships and personal support.

This article explores what’s out there, how to combine these options strategically and where to look when you need a helping hand along the way.

Your funding toolkit: What’s available and where to look

Financial support for international students in the U.S. comes from several sources, each playing a role in the bigger picture of your budget. Here’s what you should know:

Scholarships and grants are the gold standard. They don’t require repayment and can significantly reduce the amount you need to borrow. Some awards come directly from your university – targeted at international postgraduates in fields like STEM or public policy – while others are offered by home-country governments and international foundations.

Private education loans fill the gap for most postgraduates. Options include specialized international student loans in the U.S., which consider your program and future potential rather than a long credit history. Others include personal education loans and private lenders that work with your university to offer better rates or flexibility.

Personal savings and family contributions remain a cornerstone for many. While not always enough to cover tuition, these resources help with upfront costs like visa fees and early housing deposits.

Insert Image alt text hereA university financial aid advisor showing a brochure to an international student in a welcoming office, with soft daylight coming through the window

MPOWER Scholarships

International student scholarships are designed with your needs in mind.

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Building a student aid funding strategy

The best financial plans combine scholarships, loans and family funds thoughtfully. Start by identifying international scholarships and grants that match your program or home country – these are your best option because they don’t need to be repaid. Then look at your savings and what your family can contribute. This forms your baseline for budgeting.

From there, you’ll have a clearer picture of the gap you need to fill. That’s where private education loans come in. Take time to compare your options – look at interest rates, repayment timelines and whether a cosigner is required. A lender that understands the visa and work transitions you’ll face after graduation can be a crucial ally.

Finally, get familiar with your university’s emergency aid programs before you need them. Knowing where to turn can reduce stress if something unexpected happens during your studies.

Small costs, big impact: Understanding what’s covered by your student aid

It’s easy to focus on tuition alone, but most international postgraduates know that rent, insurance and transit add up fast. When evaluating loans, grants or other forms of international student aid, be sure to check what’s included:

  • Housing and meal plans can be just as costly as your classes.
  • Health insurance for international students is mandatory for most and can be a big expense if not included.
  • Research fees, lab supplies and travel to academic conferences all factor in.

A good funding strategy considers these real-life costs – not just the tuition number on your admission letter.

Insert Image alt text hereInternational postgraduate student at a busy career fair, holding a notebook and tote bag, scanning the room with curiosity and determination about post-study opportunities

MPOWER Financing: a partner for your postgraduate journey

MPOWER Financing was created for international postgraduates who are building their future from scratch in a new country. No cosigner, no collateral – just a belief in your potential and your program.

  • Eligibility focused on your future: Your university and field of study matter more than your credit history.
  • Fixed, predictable payments: No surprises, no hidden fees – just clarity about what you owe.
  • Fully online application: Apply from wherever you are, with a digital process designed to meet you where you’re at.
  • Up to US$100,000 in funding: Enough to cover the full cost of attendance, from rent to research. An MPOWER loan can cover university-invoiced expenses, like tuition, when studying in Canada, and tuition plus living expenses when studying in the U.S.
  • Resources for success: Through MPOWER’s Path2Success platform, you’ll find job search help, resume tools and guidance on (optional practical training) OPT and STEM OPT transitions.

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FAQs

Can I get financial aid if I’m not a U.S. citizen?

Yes! While you can’t access federal aid, there are scholarships, U.S. education loans for international students and other forms of financial aid just for international students.

How do I find scholarships that work for me?

Check your university’s financial aid office and external sites that list awards by field of study or home country.  For example IEFA.com and InternationalScholarship.com have scholarship databases tailored for international students.  MPOWER scholarships, for example, support future leaders and are designed to help as many students as possible.

What costs should I include in my budget?

Rent, health insurance, travel, research costs and daily living expenses all add up quickly – factor them in!

Can emergency funds help me in a crisis?

Yes. Many universities have small grants, short-term loans or emergency funds for international students in the usa who experience sudden housing or medical emergencies.

Is it worth getting a loan if I already have some savings?

It depends. Using a loan can help you cover gaps without draining all your or your family’s savings, giving you more stability later.


*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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