Study loans for international students in the U.S.

Pursuing a postgraduate degree in the U.S. can transform your career and open up global opportunities – but paying for it often feels like piecing together a complex puzzle. Without access to federal aid, you’ll need to explore private funding options that align with your goals and your visa status.

That’s where a study loan for international students in the U.S. comes in. These loans can cover everything from tuition to the small, unexpected costs that life abroad throws at you. But knowing how to choose the right loan – and how to make it work alongside other financial resources – is key to staying confident and focused on your studies.

Thinking beyond tuition: The true cost of studying abroad

For many international students, the costs of living in the U.S. can be a shock. It’s not just tuition – it’s rent in competitive housing markets, mandatory health insurance, research fees and even transportation costs if you’re commuting to a research lab or internship.

When you look at loans for international university students, consider whether they cover the full cost of attendance. Some loans only address tuition, while others also cover these every day expenses that can make or break your budget.

It’s not just about getting through your program – it’s about having the financial stability to make the most of every opportunity.

Insert Image alt text hereStudent preparing a simple meal in a shared dorm kitchen, with a laptop open to a loan comparison chart, highlighting practical budgeting while studying abroad.

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Types of study loans and how to decide

There’s no one-size-fits-all loan for international postgraduates. Here’s how they break down:

  • Private education for international students: Many traditional banks and lenders offer these, but they typically require a U.S.-based cosigner – someone with a strong credit history in the U.S. This can be hard to find if you don’t have family connections in the U.S.
  • No-cosigner international student loan programs: Some international education loan lenders understand that many international students don’t have access to a cosigner. These loans evaluate your future potential – your field of study, your university and your career prospects.
  • University-affiliated loan funds: Some universities have smaller loan programs designed for emergencies or special research needs. These can be a helpful supplement if you’re already enrolled.
  • Personal education loan: These are personal loans that can be used for tuition and living costs, though they’re not always tailored for the needs of international students.
  • International student loan refinancing: Not a first step, but an option to consider once you’re working on optional practical training (OPT) or STEM OPT.

Each option has different eligibility requirements and repayment terms – understanding these up front is essential.

Blending loans with other funding sources

A student loan is just one piece of the puzzle. For most international postgraduates, the smartest funding plan layers in multiple resources:

  • Scholarships and grants: Non-repayable and essential. They reduce how much you need to borrow and can free up funds for living expenses.
  • Family and personal savings: Many students rely on these for visa fees, travel or the first few months of rent – costs that aren’t always covered by loans.
  • Part-time work within visa rules: On-campus jobs or internships can help cover daily costs while building skills that support your career after graduation.

The key is to think beyond what’s due this semester and build a plan that works for your entire degree – so you’re not forced to scramble for cash halfway through your program.

Insert Image alt text hereInternational postgraduate student sitting at an outdoor campus bench, reading a loan approval email on their phone with a look of relief and focus.

What it feels like to work with MPOWER Financing as an international student

Imagine applying for international student loans in the U.S. where no one asks for a cosigner and no one demands collateral. That’s the experience MPOWER Financing creates for international postgraduates.

From the moment you start your online application, you’ll notice the difference. Everything is digital and straightforward, designed to work across time zones and continents. There are no piles of paperwork, no trips to a bank branch – just a process that fits around your classes and your life.

MPOWER’s team understands that as an international postgraduate, your future is built on more than grades. They factor in your grades, your university’s reputation and the career you’re aiming for. They know you’re not just a borrower – you’re a researcher, an innovator, an entrepreneur in the making.

Once you’re approved, MPOWER doesn’t stop at funding. Their Path2Success program is a suite of free practical resources that cover what happens next: job searches, resume building and the tricky steps of transitioning to OPT or STEM OPT work authorization. They’re not just supporting your education – they’re helping you build a plan for what comes after graduation.

With MPOWER, your loan is a tool that opens doors, not a burden that weighs you down. It’s a funding option that sees you as a future leader, not just a number on an application.

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FAQs


Do international students have access to personal loans in the U.S.?

Yes. Some lenders offer personal loans that can be used for education, but not all are designed for international students’ needs.

Is it harder to get a loan without a U.S.-based cosigner?

It can be, but lenders like MPOWER have no-cosigner options that evaluate your academic program and future earning potential.

What costs can a study loan cover?

Many private loans for international students cover not just tuition but also rent, health insurance and even unexpected living expenses that come with studying in the U.S.

Can I combine different types of funding?

Definitely. Smart students blend loans, scholarships and part-time work to create a funding plan that meets their full cost of attendance.

How long does it take to apply for a no-cosigner loan?

It varies, but lenders like MPOWER have a digital application process designed to be fast and student-friendly – you can check your eligibility in just 30 seconds

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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