Exploring postgraduate universities and funding options in Ohio

Ohio may not be the first state that comes to mind when you imagine studying in the U.S., but the Buckeye State is one of the top destinations for international students studying abroad on a budget. Ohio’s competitive academic institutions, low cost of living and natural beauty attract students from across the globe.

Learn more about why so many international students choose to study at a top Ohio university and how an MPOWER international student loan for postgraduate degrees can support you.

Why study abroad on a budget in Ohio?

If you’re an international student looking to study in the U.S. without breaking the bank, Ohio’s may be the place for you. The state’s relative affordability and Midwestern hospitality ensure that international students enjoy a high quality of life.

Many students studying abroad on a budget flock to schools in the dynamic cities of Columbus, Cleveland and Cincinnati, which offer exciting cultural institutions like the Rock & Roll Hall of Fame in Cleveland. Outside of major cities, international students at Ohio’s smaller liberal arts colleges enjoy an intimate campus culture and exploring the outdoors.

Despite the relatively low cost of living in Ohio, many international students struggle to pay for a postgraduate degree with personal funds alone. If you need help covering costs, consider funding your degree with an MPOWER student loan for postgraduate degrees. With MPOWER, you can borrow up to US$100,000 at a fixed, competitive interest rate without a cosigner or collateral.

Check your eligibility for an MPOWER education student loan today.

 

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Best MPOWER-eligible Ohio universities for studying abroad on a budget

You can fund your education with an MPOWER student loan for postgraduate degrees at many of Ohio’s top universities, including:

The Ohio State University (OSU)

Located in the capital city of Columbus, Ohio, OSU is one of the largest public universities in the U.S., known for its robust academics, popular football team and respected Wexner Medical Center. Popular postgraduate programs include:

• Biological and agricultural engineering
• Analytical chemistry
• Nursing
• Supply chain management

Case Western Reserve University

This private research institution in Cleveland is ideal for students studying abroad on a budget who want a small campus community with access to a big city. It is known, in part, for its special association with the Cleveland Clinic, which prepares students for clinical practice and research in the health sciences. Popular postgraduate programs include:

• Health sciences
• Aerospace engineering
• Accounting

University of Cincinnati (UC)

UC, located in the employment hub of Cincinnati, is the global founder of cooperative education. Students can participate in the school’s renowned co-op program, which emphasizes real-world learning. Popular postgraduate programs include:

• Business management
• Finance
• Applied economics
• Computer engineering

 

Over 500+ eligible schools in the U.S. and Canada accept MPOWER education student loans. MPOWER evaluates all the institutions in its network based on graduation rates, postgraduate employment rates and alumni earnings, setting you up for academic and career success.

Funding your Ohio education with a student loan for postgraduate degrees

Once you’ve decided to pursue your postgraduate education at an MPOWER-eligible Ohio university, it’s time to figure out how to fund your degree program. So what funding options are available for international students studying abroad on a budget?

Financial aid

International students, while not eligible for federal or state financial aid, can apply to their universities for institutional aid in the form of scholarships, grants, fellowships and assistantships. Case Western and UC offer limited departmental assistantships and fellowships. International students at OSU can apply for certain grants and scholarships, but eligibility is restricted to students of particular backgrounds and academic interests.

OSU also provides students with a database of internal and external funding opportunities, ScholarshipUniverse. Students might also wish to pursue scholarship search engines such as MPOWER Financing Scholarships, Study Abroad, FinAid, eduPass and IEFA.

Education student loans for international students

Seeing as international student financial aid is often very limited and selective, you may choose to cover your education with a no-cosigner, no-collateral student loan for postgraduate degrees from MPOWER.

MPOWER is more than your typical education lender. Because MPOWER wants to see you succeed, all MPOWER customers gain access to MPOWER’sPath2Success program, which will guide you through the student visa process, set you up with a U.S. credit card and bank account and provide you with specialized career services for international students.

Final thoughts: Studying in Ohio with an MPOWER student loan for postgraduate degrees

With financial support from an MPOWER education student loan, experience Ohio’s welcoming atmosphere, top-notch postgraduate degree programs and diverse employment opportunities. MPOWER customers enjoy a streamlined loan process and comprehensive support, both during your education and after you graduate.

Jumpstart your international education with MPOWER. It takes less than a minute to get started.

 

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Exploring postgraduate universities and funding options in Pennsylvania

From its vibrant cities and beautiful scenery to its elite universities and rich history, Pennsylvania has much to offer international students looking for a dynamic study abroad experience. However, if you’re hoping to study abroad on a budget, you may struggle to cover the expenses associated with studying for a postgraduate STEM degree in the U.S.

Read on to determine whether Pennsylvania is the right study abroad destination for you and the benefits of funding your education with an MPOWER international student loan for postgraduate degrees.

Why study abroad on a budget in Pennsylvania?

Pennsylvania is a popular destination for international students. It is home not only to some of the best universities in the U.S., but also to great cultural institutions and recreational opportunities. Students studying abroad on a budget in the lively cities of Pittsburgh and Philadelphia can access many museums and theaters for free or at a discounted rate, while those studying in more remote towns may enjoy exploring Pennsylvania’s 100+ state parks.

The cost of living in Pennsylvania may be higher in cities like Pittsburgh and Philadelphia. These cities, however, offer the best internship and employment opportunities in the state, especially in the health care, biotechnology and finance sectors.

With an MPOWER student loan for postgraduate degrees, you can bridge the gap between your funds and the cost of a premium Pennsylvania education. Unlike other education lenders, MPOWER loans don’t require a cosigner or collateral, so you may qualify for an MPOWER education student loan even if you don’t qualify with other lenders. It takes less than a minute to check.

 

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Best MPOWER-eligible Pennsylvania universities for studying abroad on a budget

For help determining the right Pennsylvania university for you, check out MPOWER’s list of 500+ eligible schools.

Here are some of the top MPOWER-eligible universities in Pennsylvania and their commonly selected majors:

University of Pennsylvania (UPenn)

Known as the “Social Ivy” for the active social lives of its students, this intellectually rigorous Ivy League school is one of the oldest academic institutions in the U.S. It’s known, in part, for the Wharton School, one of the best business schools in the world. UPenn’s top postgraduate programs include:

• International business
• Finance
• Marketing

Pennsylvania State University (Penn State)

Students studying abroad on a budget at this top public research institution benefit from the school’s strong academics and passionate sports culture. Popular postgraduate STEM programs include:

• Supply chain management and logistics
• Materials engineering
• Industrial engineering

Carnegie Mellon University (CMU)

CMU is not only an elite technical school but also a leader in the arts. Though located in the city of Pittsburgh, CMU still has a strong campus culture with a large selection of student organizations and campus traditions. Popular postgraduate programs include:

• Computer science
• Electrical engineering
• Artificial intelligence
• Robotics and automation engineering

Funding your Pennsylvania education with a student loan for postgraduate degrees

An international education in the U.S. can be pricey, so it’s important to explore all your funding options from financial aid to education student loans.

Financial aid

Financial aid can be hard to come by for international students studying in the U.S. Fortunately, international students wanting to study abroad on a budget can explore scholarship opportunities through resources such as iefa.org, eduPass, FastWeb, International Study Abroad and MPOWER’s list of graduate student scholarships.

However, as scholarships are often very competitive, students should also seek financial support through their university departments. UPenn, Penn State and CMU all offer departmental assistantships, fellowships and grants.

This database shows which schools provide international students with financial aid in the state of Pennsylvania.

Education student loans for international students

Though scholarships and assistantships can certainly reduce your overall expenses, they likely won’t cover the entirety of your tuition, fees and living costs. Private student loans for postgraduate STEM degrees can cover the rest.

With a no-cosigner, no-collateral MPOWER international student loan, you can borrow up to US$100,000 to finance your study abroad experience in Pennsylvania. MPOWER wants to invest in your success. That’s why MPOWER offers loans based on future earning potential rather than financial history.

To help you make the most of your international education, all MPOWER customers gain access to the Path2Success program, which provides comprehensive student support, from visa assistance before your studies begin to career services after you graduate.

Final thoughts: Studying in Pennsylvania with an MPOWER student loan for postgraduate degrees

Pennsylvania is a great option for students looking for access to active cities, the great outdoors and some of the nation’s top universities to boot.

To finance your Pennsylvania education with an education student loan that doesn’t require a cosigner or collateral, choose MPOWER. You can check your eligibility in under a minute.

 

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Understanding Educational Loan Application Requirements: A Step-by-Step Guide

Planning on studying in the U.S. involves many moving parts, especially if you need additional student aid to pay for school. When applying for a private education student loan from a U.S. lender, you’ll want to know about the lender’s educational loan requirements and how to get started.

What are the requirements for a student loan?

As an international student, you’ll need to meet at least the lender’s minimum education student loan requirements to be a qualified applicant. Each lender has its unique lending guidelines that it adheres to when deciding whether to approve a loan application.

However, lenders, like MPOWER Financing, generally have a few common education loan requirements you should be aware of:

• • Academic transcripts and test scores. You must provide your educational history, including copies of transcripts or diplomas from U.S. universities you attended previously, if applicable. You also must provide your standardized test scores (for example, GRE, GMAT, LSAT, MCAT, or NBDE) and English proficiency test scores.
  • Proof of admission to a recognized institution. When applying for an education student loan, lenders also ask for a copy of the admission letter to the school plan to attend. Many lenders, like MPOWER, have a list of approved schools and academic programs that meet the lender’s education loan requirements.
  • Valid visa status. All international students who want to study in the U.S. and borrow a private student loan must have a valid visa status. (Students can apply for funding before a visa is granted, but will need a valid student visa to enroll and receive funding.)
  • Proof of identity. Provide a color copy of your valid passport, in addition to a secondary form of identification, like a national ID or driver’s license.
  • Proof of residence. Students who are already in the U.S. must provide proof of a U.S. address. For example, a utility bill, rental lease, an addressed letter from the university or a bank statement can fulfill this requirement.
  • Proof of funding sources. Lenders will also ask for proof that you funds to contribute to your education costs, including personal bank statements, pay stubs or scholarship award letters.

How to get a student Loan: Step-by-step

If you’ve determined you fulfill the general educational loan requirements described above, you might be ready to start the application process. Here’s a step-by-step guide to securing international student loan funding.

1. Research and compare lenders

Making time to research a handful of education student loan lenders can help you find the best offer for your financing needs. In addition to having different educational loan requirements, lenders charge different fixed or variable interest rates and fees, and have varying minimum and maximum borrowing limits.

For example, some lenders require a cosigner or collateral to secure the loan, while others, like MPOWER Financing, offer fixed-rate, no-cosigner private student loans.

2. Gather required documents

After comparing multiple lenders and choosing the best one for you, review the lender’s educational loan requirements. Put together any necessary supporting documentation, including academic and financial documents that you’ll need for your application.

3. Fill out a loan application

Applying online  is a convenient and fast option. It takes just 30 seconds to determine your eligibility with MPOWER and about 30 minutes for the complete application.

If you can’t finish your application in one sitting, you can typically save your progress and return to it at a later time.

4. Wait for conditional approval

After submitting your application, the lender will review your information and determine whether you meet its requirements. If you do, your loan application might be conditionally approved. Conditional approval means your application is approved, pending supporting documents or steps.

If you receive conditional approval, your lender will provide a list of items or steps you must complete before final approval.

5. Submit the requested information and sign the agreement

Provide any requested information or documents to your lender and wait for confirmation that it doesn’t require any additional paperwork. The lender will review your submitted documents and confirm whether it’s prepared to finalize the loan.

If it is, you’ll receive the loan agreement, which states your loan details – including principal amount, loan rate, repayment term, repayment options and more. Carefully read the agreement and ensure you understand what you’re agreeing to; if you’re comfortable moving forward, sign the agreement.

Three common loan application hurdles

Getting a loan through a traditional bank can be challenging as an international student for a few reasons.

Lack of credit history

Banks and lenders often refer to a loan applicant’s U.S. credit history to determine their likelihood of repaying the loan. A credit history details past and current borrowing behavior, including payment history, and the applicant’s unpaid debt liability.

International students who want to borrow an education student loan for the first time might not have a U.S. credit record. In these situations, some lenders require applicants to add a U.S. cosigner with strong credit and reliable income on the application. Being a cosigner, however, is a serious financial responsibility, so finding a willing participant can be a hurdle for international students. Some lenders, like MPOWER, offer education funding without the need for a cosigner.  

Unfamiliar legal and financial terminology

The U.S. financial terms might differ from those of your home country, which can present a learning curve during the loan application process. Additionally, you’ll want to fully and clearly understand the legal terminology in an application or loan agreement so you know what you’re agreeing to upon signing a contract. This can be a challenging and time-consuming hurdle to get past.

Visa uncertainties

Ultimately, a key educational loan requirement is to be enrolled in a recognized U.S. school and academic program. However, a student’s enrollment eligibility is also contingent on having an active student visa – or at least, having a student visa that’s in progress and will be secured by the time school starts.  

However, the immigration process operates on its own timeline, independent of loan application deadlines. If a lender is uncertain about your visa status, it could delay or halt the student loan process entirely.

Practical tips for a streamlined application process

• • Document organization: Create a checklist of requirements and supporting documents, and their submission timelines. If you need to request copies of documents from a third party, include their average turnaround time, too.
  • Understanding terms: Familiarize yourself with common loan terminology that you’ll see when shopping around for an education student loan. Some of these terms include “principal,” “APR,” “grace period,” “deferment,” and “fixed or variable interest.”
  • Start the process early. Generally, you can start the education loan application process even if your visa status is still in progress. Keep in mind that loan funds won’t be disbursed until your visa is approved.
  • Meeting deadlines: With the help of the checklist you made earlier, line up deadlines so that school enrollment, your visa application and student loan application sync up as much as possible. Successfully enrolling for your school term and having an approved visa ready might help you minimize any funding delays.

• • Choose a lender that’s dedicated to your success. MPOWER makes the loan process simpler by not requiring a cosigner or collateral, so you can assert your independence. And MPOWER goes further to support  students through exclusive internship and job search resources during school as well as access to a free bank account and credit card so you can access local funds easily.

Make an informed decision before borrowing student loans

Every lender adheres to its own rules regarding educational loan requirements. Generally, you’ll need to meet the lender’s academic, visa and financial requirements to qualify, in addition to providing supporting documents proving your eligibility.

Fortunately, if you need extra funds to pay for school, MPOWER makes the loan application process easy with a simple online form. See if you qualify for MPOWER Financing’s no-cosigner private student loan.

 

How Nigerian students can secure funding for STEM programs abroad

Over 20,000 Nigerian students pursued higher education in the U.S. in the 2023-24 academic year, with the majority focusing on STEM fields. STEM (science, technology, engineering and math) programs dominate among international students, accounting for 56% of all enrolled students.

Enrolling in a STEM program abroad is an exciting opportunity, but it may also present a financial challenge. Fortunately, there are plenty of opportunities for STEM scholarships and study abroad loans for Nigerian students heading to the U.S. or Canada.

If you’re a Nigerian student looking to finance your STEM education, read on to learn about your options for scholarships and loans for study abroad.  

STEM scholarships for Nigerian students

A variety of scholarships are available to Nigerian students who want to earn their STEM degree abroad. Applying for scholarships can seriously pay off, since, unlike study abroad loans for Nigerian students, you don’t have to pay scholarships back, though you may have to meet and maintain conditions. Here are some opportunities to explore.

Scholarships to study in the United States

• Fulbright Foreign Student Program: The Fulbright program provides funding for graduate students. Not only will Fulbright scholars get tuition assistance, but they’ll also get a stipend for housing and travel.
• AAUW International Fellowships: AAUW offers scholarships from US$20,000 to US$50,000 to women pursuing a master’s, doctoral or postdoctoral degree in the U.S.

Scholarships to study in Canada

• Banting Postdoctoral Fellowship: This fellowship provides up to CA$70,000 per year for two years to postdoctoral students researching health, natural sciences, engineering, social sciences or humanities.
• Lester B. Pearson International Scholarship: This scholarship enables outstanding international students to study at the University of Toronto. To apply for this scholarship, you’ll have to be nominated by your school.
• Ontario Graduate Scholarship (OGS): This merit-based scholarship provides up to CA$15,000 annually for two years to master’s and doctoral graduate students at an eligible university in Ontario.  
• Study in Canada Scholarship: This program provides funding for short-term study or research exchanges. It offers up to CA$12,700 and is available to students from various countries, including Nigeria.
• Vanier Canada Graduate Scholarship: This award offers up to CA$50,000 each year for three years for doctoral studies at a Canadian university. Selection criteria include academic excellence, research potential and leadership ability.

Scholarship opportunities for both the U.S. and Canada

• Mastercard Foundation Scholars Program: This program provides scholarships to students, primarily from Africa, facing social and economic barriers to education. It’s available at three universities in the U.S. – Arizona State University, UC Berkeley and the University of Colorado – and two in Canada – McGill University and the University of Toronto.
• MPOWER scholarships: MPOWER Financing offers scholarship awards to international students accepted or enrolled in a full-time degree program at a U.S. or Canadian MPOWER-eligible school. The Women in STEM Scholarship, for example, provides up to US$5,000, while the MPOWER Global Citizen Scholarship award offers up to US$8,000. MPOWER’s monthly scholarship series also awards US$1,000 to three students on the last day of every month. Learn more about MPOWER’s scholarship awards.

Study abroad loans for Nigerian students

Although scholarships are worth pursuing, they can be competitive and may not cover your full cost of attendance. If you need more funding for your STEM degree, student loans for study abroad can help fill the gap and cover the remaining costs.

Unlike scholarships, you have to pay back student loans, with interest. You might find a loan through a bank in your home country, or you could borrow from a lender in your destination country.

MPOWER Financing, for example, offers up to US$100,000 in student loans to international students pursuing their degree in the U.S. or Canada.

MPOWER’s no-cosigner international student loans have fixed, inflation-proof interest rates and a 10-year repayment term, so you don’t have to worry about your student loan payments increasing over time.

Eligibility requirements for international student loans

The eligibility requirements for an international student loan vary by lender. Some lenders want to see that you have a minimum annual income, credit score and a cosigner who’s a U.S. citizen or permanent resident.

MPOWER Financing specializes in international student loans and recognizes that a cosigner requirement can be a major hurdle for Nigerian students. That’s why it doesn’t ask for a cosigner or collateral to qualify for a loan.

Instead, it bases your approval on alternative factors, such as your academic merit and future potential. You can check your eligibility in just 30 seconds, then apply for a loan online and receive a conditional offer within days.

Tips for applying for an international student loan

As you pursue a student loan, consider these tips to make the process as seamless as possible.

• Start early: Securing a student loan can take several weeks or months, so start the process well before your tuition is due. Once you’ve chosen a program, you can start researching lenders and applying for a loan.
• Compare interest rates and terms: If you’re comparing multiple loan options, look for one with a low interest rate, few fees and repayment terms that work for you. A fixed interest rate can be helpful if you don’t want your loan costs to increase over time.
• Gather your documentation: Find out what documents you must provide to the lender. These may include proof of enrollment, academic transcripts and, once you’ve received it, your international student visa. MPOWER has a checklist of documents for graduate students that you can check out.
• Keep in touch with your lender: Your lender may ask for additional documents along the way. Make sure they have your updated contact information, and respond promptly to avoid any delays with the borrowing process.
• Review the details of repayment: Find out if you need to start making payments right away, and develop a budget that includes this obligation. Check out your loan’s monthly payments so you’ll be prepared to pay it back.

Find no-cosigner international student loans for Nigerian students with MPOWER Financing

MPOWER Financing funds loans up to US$100,000 for Nigerian and other international students looking to study in the U.S. or Canada. As mentioned, MPOWER doesn’t require a cosigner or collateral, so you don’t have to worry about finding someone to cosign your loan.

Plus, making on-time payments on your MPOWER loan will help build your credit history in the U.S. A positive credit score can make it easier to rent an apartment, open a credit card or qualify for loans.

Along with no-cosigner international student loans, MPOWER helps Nigerian students through the student visa application process with a free Visa Essentials course and access to mock interviews with visa experts. MPOWER’s financial resources and team of experts can help ease your stress and turn your STEM education dreams into a reality.

FAQ

Are Nigerians eligible for MPOWER Financing?

Nigerian students are eligible to apply for a loan with  MPOWER Financing. You’ll need to be accepted or enrolled in an eligible school. MPOWER supports students at hundreds of schools across the U.S. and Canada.

How can international students fund their studies?

International students can fund their studies with various financing options, including savings, scholarships and international student loans.

What is the DAAD scholarship for Nigerian students?

The German Academic Exchange Service (DAAD) scholarship provides funding for students from Nigeria and other countries to study for their degree in Germany. Some DAAD scholarships are designed specifically for students pursuing their master’s degree in a STEM discipline.

The timeline for Indian students: From loan approval to tuition payment in the U.S.

Studying at a U.S. university is a dream for many Indian students. India became the leading place of origin for international students in the 2023-2024 school year, with 331,602 Indian students pursuing their degree in the U.S.

To turn that dream into a reality, you may need a student loan to pay for tuition and fees. Securing a student education loan can take a few weeks or months, so applying early is key for paying your tuition on time.

Starting the process several months before your tuition bill is due will ensure your funds come through in time.

How to get a student loan for Indian students in the U.S.: Step by step

Here’s the full timeline for getting a student loan for Indian students in the U.S., from your initial application to approval to loan disbursement. Learn how to navigate each step so you can manage your time efficiently and not miss any critical deadlines.

 

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Step 1: Estimate costs  

If you’re applying for the fall semester (which typically begins in August or September and is the most common start date), you should receive your admissions decision in the spring or earlier. At this point, you can start estimating your cost of attendance.

Besides tuition and fees, costs you may need to cover include:

• • Housing, such as a dorm or off-campus apartment
  • Food, whether a dining hall plan or groceries
  • Books and supplies, such as a laptop
  • Transportation and travel
  • Other living expenses, such as a cell phone and clothing

 

Most universities have an estimated cost of attendance on the financial aid section of their websites, but you can adjust the figures to match your lifestyle. Cost may be a key factor when choosing a university.

Step 2: Review your financing options

After you’ve crunched the cost-of-attendance numbers, it’s time to review your financing options. The most affordable payment methods will come from your savings, grants and scholarships.

If you need additional funding, student loans for study abroad could come in handy. As an Indian student, you won’t qualify for federal student loans from the U.S. Department of Education.

However, you can borrow from a private lender, such as a bank or online lender. Some private lenders in the U.S. require you to apply with a cosigner who’s a U.S. citizen or permanent resident.

Good news, MPOWER Financing offers student loans to international students without requiring a cosigner or collateral. Interest rates are fixed and inflation-proof, too, so you don’t have to worry about your payments and borrowing costs increasing over time.

Step 3: Apply for an international student loan

Your next step is to apply for an international student loan. You can apply any time for a private student loan, but you’ll want to get started at least a month before your tuition is due to ensure the funds arrive on time.

For example, if you’ve picked a university by May 1, you could apply for your student loan in May or June. MPOWER Financing lets you apply as early as 12 months before the start of your semester.

You also don’t need your student visa to begin your loan application with MPOWER. However, you will need to provide your visa before securing final loan approval.

It usually takes a few weeks to get your visa, and you can apply for it once you receive your I-20 form from your university. MPOWER provides a free support letter which helps you obtain your I-20 from one of hundreds of universities across the U.S. and Canada.

Step 4: Await student education loan approval

After you’ve submitted your application, you’ll wait for the lender to approve and process your loan. During this time, the lender may ask you to submit additional documentation.

Keep an eye out for any requests from the lender so you can submit these documents promptly. Staying on top of requirements will help the loan process go quickly and smoothly.

The lender may also need to verify your enrollment with your school and certify its official cost of attendance.

Step 5: Loan disbursement and paying your tuition

The final step in the student education loan process is disbursement. Most lenders will send your loan proceeds directly to your university.

The university’s financial aid office will apply the loan to tuition and fees. Then, it will send you any leftover amount for education-related living expenses, such as room, board and supplies.

If you wish to receive funds for living expenses as a direct deposit, you’ll need to open a bank account in the U.S. and provide your account information to the bursar’s office.

Getting an international student loan: Tips for managing your time

The student loan timeline for Indian students in the U.S. varies by lender. MPOWER Financing can perform a final review of your application in three to five business days. The overall length of time also depends on other factors such as document submission.

To avoid a time crunch, start applying for your loan soon after you receive your admission decision and choose a school. For fall intake, this will likely be in April or May. If you’re starting in the spring semester, this may be in October or November.

Here are a few other tips for managing your time efficiently:

• • Create a loan application checklist: Write down everything you need to apply for a loan, such as proof of enrollment, a copy of your passport and anything else the lender requires. MPOWER has a checklist for graduate students that you can use.
  • Write down important deadlines: Find out and record key deadlines, such as when a school requires your enrollment decision and when your tuition bill is due.
  • Use a calendar or planner: Whether you prefer an online calendar or paper planner, a scheduling tool will help you keep track of all these moving parts.
  • Stay in contact with your lender: Respond quickly to requests for additional documents to avoid delaying the loan approval process.

 

MPOWER has helped thousands of Indian and other international students earn their degrees in the U.S. and Canada with study abroad loans. It offers a quick, easy online application process and loans up to US$100,000 with no cosigner or collateral required.

When you get a loan with MPOWER Financing, you’ll also get access to a free visa support letter and visa prep course. Plus, you may qualify for a free credit card and bank account to simplify managing your money in the U.S.

Attending university in the U.S. can be an exciting venture, but it’s also challenging, especially when you’re figuring out your finances. By starting the loan process early, you can reduce stress, compare your options with confidence and make sure your tuition is paid on time.

FAQ

How long does it take to get student loan money once approved?

The timeline to get student loan money once approved varies. Some lenders can disburse loans in a few days, while others might take a few weeks. Most lenders send student loan money directly to the school, so you’ll need to wait for your school to apply your loan to tuition and fees before you’ll receive the leftover amount for living expenses.

How long does it take to get a tuition loan?

It can take a few weeks or months to get a tuition loan. The timing depends on your lender, your school and how promptly you provide required documentation during the loan application process.

 

International student success story: From Bangladesh to the University of Delaware

Dipita David’s academic journey reflects both the opportunities and challenges faced by international students. Originally from Bangladesh, she is now embarking on a new educational chapter pursuing a master’s in business analytics and information management at the University of Delaware. Her successful transition abroad was in part thanks to MPOWER Financing, introduced to her by a family friend who had also benefited from MPOWER’s services for their own study abroad experience.

For Dipita, the loan approval process was refreshingly straightforward. By submitting basic documents such as her passport, academic transcript and offer letter, she secured the financial support she needed, enjoying a quick approval process. Financial hurdles can be daunting for international students, often distracting from their academic goals. With MPOWER Financing’s assistance, these barriers are eased, allowing students like Dipita to focus fully on their studies and ambitions.

MPOWER Financing loans for study abroad

MPOWER Financing is a leader in fintech innovation, empowering international students to pursue their studies in the U.S. and Canada with no cosigner, no collateral education loans. Founded by former international students, MPOWER offers a wealth of support services, including loans, scholarships and the comprehensive Path2Success program. This initiative grants students free access to career, visa and financial resources essential for navigating the complexities of international education.

 

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International student resources with Path2Success

Through Path2Success, MPOWER offers targeted support to help students reach their career goals. By partnering with F1 Hire, MPOWER provides guided internship and job search tools that simplify finding visa-sponsored roles, while a resume builder aligns student qualifications with job requirements, boosting application success.

For international students, these resources are indispensable, enabling them to focus on education and career development without the weight of financial worries. Dipita’s story is a testament to the broader experience of international students and highlights the essential role of supportive financial and career services in achieving academic and professional goals.

 

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International student success story: From Ghana to the U.S.

Paul’s academic journey started in the vibrant streets of Ghana’s capital to the bustling U.S. streets, fueled by determination and grit. A former boss from Ghana’s Ministry of Finance introduced Paul to MPOWER Financing. Paul found MPOWER to be a great resource for international students like himself seeking educational support abroad. The application process was smooth and straightforward, a welcome relief during his transition from Ghana to the U.S.

 

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MPOWER Financing student loans for studying abroad

MPOWER Financing is the leading fintech company empowering international students like Paul to attend universities in the U.S. and Canada through loans, scholarships and its Path2Success program, providing free access to exclusive career, visa and financial resources. Former international students founded MPOWER to help promising students from around the world study abroad.

 

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Living in the U.S. as an international student

Living as an international student in the U.S. presents challenges, especially balancing academic demands with financial constraints. Like many peers, Paul grappled with the complexities of finding sponsorships and job opportunities suitable for F1 visa holders. This experience is a shared narrative among international students, who often navigate limited work options and the pressure to excel academically.

Career support for international students with MPOWER Financing

MPOWER Financing understands the importance of securing a career as an international student. Their Path2Success career services offer targeted support to help students reach their professional goals. Partnering with F1 Hire, MPOWER provides guided internship and job search tool directs students to visa-sponsored roles, making job hunting more streamlined and efficient.

A tailored resume builder matches students’ qualifications to specific job requirements, boosting application success rates. Additionally, MPOWER offers support in aligning students’ profiles and skill sets with ideal job openings.

The free comprehensive directory of F-1 eligible roles, covering both STEM and non-STEM fields, helps students identify employment opportunities. MPOWER’s resources ensure international students have the best possible start to their professional journeys.

Building a life abroad as an international student

Paul’s story doesn’t just stop at personal achievement; he’s planning to pursue a Ph.D. that will align his interests in accounting and data analytics. Paul envisions himself in academia or research, aiming to impact the green environment positively.

For international students like Paul, pursuing postgraduate studies in the U.S. is a blend of aspirations and strategic planning. Often, their experiences in the U.S. are marked by opportunities but also the need to carefully manage time, money and resources. For Paul and 20,000+ others, MPOWER has provided not just financial assistance but also peace of mind to focus on what truly matters: their studies and future contributions to society.

Next step for studying abroad in the U.S.

Paul’s story is a testament to the resilience and tenacity required to thrive abroad. With MPOWER, students manage both financial and educational challenges. Advanced education and exciting careers can be yours, too. With determination and the right support, like Paul, you can bridge the gap between dreams and reality. MPOWER makes quality education accessible by removing financial barriers for postgraduate students globally.

 

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How to balance part-time work and academics as an international student

 

International students studying in the U.S. face a host of challenges, from navigating the student visa process to adapting to a new culture, on top of the ordinary pressures of higher education. Those who seek international student job opportunities during their studies may find the demands of working, studying and living abroad particularly overwhelming.

However, there are steps you can take to manage these challenges. Read on to discover how to balance part-time work with your postgraduate course load, including international student resources to check out and how MPOWER’s student loan services can mitigate the stress of working and studying abroad.

What do international students struggle with the most?

Many international students struggle financially. In addition to the high price of tuition, international students also have to deal with travel expenses, visa fees, devalued national currencies and the inaccessibility of financial aid.

To cover education expenses, some students apply for part-time international student job opportunities. International students studying in the U.S. may be eligible for a few types of employment, such as:

• Curricular practical training (CPT)
• Optional practical training (OPT)
• On-campus employment

Part-time employment can be a great way to make some extra money and gain professional experience. However, many international students also struggle to meet the rigorous academic standards of their postgraduate programs, and adding a part-time job to the equation can make it even harder to excel academically.

Can international students be part-time students?

You may be tempted to cut back on your course load to make time for a part-time job. However, to maintain F-1 student status in the U.S., international students have to be enrolled in a full course of study.

Working part-time as a full-time student is hard, but not impossible. Here are five tips for balancing work and academics as an international student.

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Five tips for balancing international student job opportunities with academics

1. Know your financial requirements and needs

The more acquainted you are with your financial situation, the better you can tailor your international student job opportunity to your needs.

Remember: your priority as a student is your education. Your job should not interfere with the quality or timeliness of your schoolwork. Be sure to create a comprehensive study abroad budget to calculate how much you need to earn through part-time work, and don’t take on more hours than necessary. Ideally, your job should make space for your education – not the other way around.

If you need help understanding your finances, check out MPOWER’s international student resources on financial literacy.

2. Get organized

When balancing various commitments, it’s important to stay organized. Tools like Google Calendar, Notion and other productivity software applications can help you map out your commitments and deadlines so things don’t fall through the cracks.

You’ll also have to hone your time management skills. There are only so many hours in the day, so be sure to avoid the urge to procrastinate. Time management strategies like the Pomodoro Technique (working in increments of 25 minutes separated by five-minute breaks) can help you enhance your productivity.

3. Don’t be afraid to ask for help

If you’re struggling to balance your international student job opportunities with your academics, you don’t have to struggle alone. Most U.S. universities offer free international student resources like tutoring, writing centers and skill-development workshops. These services can give you the structure and tools you need to manage your commitments.

When you feel the pressure mounting, consider scheduling a meeting with a school counselor, reaching out to a friend or visiting your university’s international student center. Studying abroad is tough. Relying on your community for support can make it easier.

4. Stay adaptable

It’s never worth sacrificing your academic performance for an international student job opportunity. If necessary, consider reducing your work hours or looking for a less demanding job.

If you need extra support, there are other ways to cover some of your education expenses. MPOWER offers international student loans of up to US$100,000 for students studying in the U.S. or Canada and you can apply at any point throughout the year. MPOWER students also gain access to student loan services through the Path2Success program, which provides visa assistance, financial support and career services.

5. Take care of yourself

You will only be capable of your best work when you are healthy and happy. Amidst your many commitments, make sure to carve out time for rest, friends and things you enjoy. Eating well, sleeping enough and connecting with people who have similar experiences will improve not only your study abroad experience but also your academic and professional performance.

Final thoughts: Balancing international student job opportunities and academics

Balancing a part-time job with your academic course load will be a challenge, but by staying organized, informed and open to help, you can take it on. Through it all, remember to prioritize self-care.

For more support, check out MPOWER’sinternational student resources.

 

The financial implications of transferring to a new university as an international student

Regardless of how much time you spent researching a U.S. school and graduate program, the curriculum you chose or university experience you imagined might not be what you expected. Some international students realize that they want to pursue a different academic program or simply don’t enjoy their school’s campus culture or location.

In these situations, you might wonder about the possibility of transferring to a new university. Before making any changes to your educational plan, here’s what you need to know about transferring schools as an F-1 student and how it can financially affect you.

Can an international student transfer to another university?

If your university experience doesn’t work out as you hoped, you have the option of transferring to another Student and Exchange Visitor Program (SEVP)-certified school as an active F-1 student.However, there are serious implications you should consider before taking any action.

You first must be accepted by your desired transfer-in school and meet its criteria for enrollment.

Once you’ve received written confirmation of your acceptance, bring it, along with the new school’s designated school official’s (DSO) contact information and the transfer-in school’s SEVIS code, to your current school’s DSO. You’ll need this information to start the electronic SEVIS record transfer process.

Does it cost money to transfer from one university to another?

Although F-1 students can transfer between SEVP-certified institutions, it can be costly. There are various expenses related to transferring to another university that add up if you’re studying abroad on a budget.

1. Transfer application fees

Just as when you applied to your first school, you’ll face fees to process your application and the official transfer. Graduate program transfer application fees differ between universities, but generally, expect to pay about US$100 or more per application.

Chances are you’ll apply to transfer to more than one school since you’re not guaranteed admission into your preferred university. In this case, the application fees alone add up to a few hundred dollars. And this doesn’t include other fees related to the application process, like transcript fees and fees to request standardized test scores.

2. Course credit transferability

If you want to change academic direction entirely by changing your concentration, any course credits you’ve already earned from your original program might not transfer toward your new program. Even if you’re sticking to the same postgraduate degree program at your transfer-in school, your existing credits might not apply at the new university.

Plus, you’ll need to retake the appropriate course at your new school, which could prolong your overall educational timeline. A longer timeline creates a domino effect in all other financial areas of your study period, from tuition to housing and more.    

3. Tuition and financial aid changes

Speaking of tuition, after receiving an acceptance and enrolling in your desired transfer school, you’ll face another bill for tuition and required fees for your enrollment period. Depending on your transfer-in university, the cost of tuition and fees might be higher than at your original school since rates vary between institutions.

Additionally, transferring schools might impact your existing financial aid awards. For example, if you received a scholarship from your current school, you might lose any remaining funding once you transfer out.

4. Housing and living adjustments

Housing costs are likely the next-largest expense during a school transfer. If you currently live in on-campus housing, the school might charge an early cancellation fee to terminate the housing contract.  

You’ll also need to consider the difference in the cost of living for a new city or state. For example, the cost of off-campus housing and other everyday goods will be significantly different if you’re transferring from a school that’s in a small, rural town to a university in a large metropolitan area.

If you’re transferring to a school within a competitive housing market, renting a room or apartment, and related expenses, like utilities, groceries and transportation, will likely be higher. Plus, you’ll need to budget for moving expenses, too.

What are the disadvantages of transferring universities?

Transferring universities can result in greater overall expenses, which might be challenging for students who study abroad on a budget. However, finances aren’t the only disadvantage that transferring schools can have on your study experience in the U.S.

Students who want to transfer schools but have a terminated SEVIS record have a few options to transfer schools. One choice is leaving the U.S. and returning under a new F-1 initial entry status through the new school. However, with this approach, students lose the time accrued at the original school, so it won’t count toward eligibility requirements for practical training.

Five-month rule for F-1 transfer

Transferring institutions also demands strategic timing. F-1 students must resume their education at their desired SEVP-certified transfer school within five months of transferring from their initial school. If the new-school start exceeds this time limit, a student risks losing their visa status.

Tips to financially navigate a school transfer

Transferring to a new school involves many moving pieces as a postgraduate student on a budget. Here are a few ways to overcome the financial hurdle.

• Budget ahead. To study abroad on a budget, you’ll need to compare your current school’s costs of attendance against the new school you’re considering. Ensure you’re including hidden costs, like the ones mentioned above, such as housing, moving costs and adjustments in financial aid. Knowing how much your new school and living situation will cost can help you calculate how much financial aid you may need and how much is left over for your discretionary spending.
• Verify your credits transfer. Confirm which of your existing course credits are accepted by your new school, and whether it can move the dial toward your degree requirements. Having as many credits as possible successfully transferred to your new university saves you time and money.
• Seek scholarship opportunities. Explore whether your new school offers financial assistance for postgraduate students. This might be a scholarship program or grant that can help you pay for any additional expenses incurred by transferring schools. MPOWER Financing also supports students through scholarships ranging from US$500 to US$8,000.
• Explore your financial aid options. If your new school’s cost of attendance and other expenses associated with transferring universities are more than your current funding supports, find other sources offinancial assistance for postgraduate students. MPOWER’s student loan services are tailored to your unique needs and don’t require a cosigner or collateral. Plus, MPOWER offers valuable perks, like career services and visa support.

Plan proactively before transferring schools

As an F-1 student studying in the U.S., you’re permitted to transfer schools if your current university isn’t helping you reach your academic goals. However, because this decision can have a big financial impact and requires careful timing, planning your transition as early as possible is key.

How to navigate OPT and CPT as a STEM major

International students enrolled in a postgraduate STEM program in the U.S. might be interested in gaining practical work experience. Students with an F-1 visa can enhance their education with two career training options: curricular practical training (CPT) and optional practical training (OPT). 

STEM students can leverage these programs to get the most out of their academic experience in the U.S., but understanding the nuances between the two pathways is essential.   

CPT for STEM Students 

International students can earn academic credit or units toward the completion of a STEM curriculum through CPT. Under CPT, STEM students get hands-on experience through an internship or co-op opportunity. CPT is only available after completing at least one academic year at a Student and Exchange Visitor Program (SEVP)-certified institution unless your degree program requires immediate participation in CPT. 

To apply, speak to your designated school officer (DSO) to get authorization. You’ll need Form I-20 showing your DSO’s approval for CPT employment. Additionally, your employer must provide a signed letter or agreement acknowledging the employment restrictions under CPT.

The work opportunity can be either part- or full-time hours, but be mindful of how long you participate in full-time CPT. STEM students who engage in 12 months or more of full-time CPT lose access to OPT; however, unlimited part-time CPT is permitted without affecting OPT eligibility.  

OPT for STEM students

OPT is temporary employment that is directly related to an F-1 student’s major area of study. International students can receive up to 12 months of work authorization. OPT can be performed before (pre-completion) or after graduation (post-completion). If you complete one year of full-time, pre-graduation OPT for the same degree level as post-completion OPT, that standard 12-year period is deducted from your allowed post-completion OPT total. 

Regardless of when you engage in OPT, you can’t start work until after receiving an Employment Authorization Document (EAD) card from the U.S. Citizenship and Immigration Services (USCIS). 

The work performed under OPT can be part or full time, but must be with an employer that’s enrolled in the USCIS E-Verify system and aligns with your degree field. 

To apply for OPT: 

• • Your DSO must recommend you and update your SEVIS record with a new Form I-20 showing their OPT recommendation.
  • Then, you must submit an Application for Employment Authorization (Form I-765) to USCIS and pay the filing fee.

Application timelines depend on which type of OPT you’re interested in. STEM students can apply for pre-completion OPT as early as 90 days before the end of one full academic year. For the standard 12-month post-completion OPT period, you must apply within the first 30 days of receiving your DSO’s recommendation, and apply up to 90 days ahead of graduation. The latest you can submit a post-completion OPT application is 60 days after graduation. 

Once the USCIS approves your application, an Employment Authorization Document (EAD) card will be created within two weeks and mailed. 

STEM OPT Extension 

OPT offers an attractive opportunity for those who graduate in the science, technology, engineering and mathematics fields. STEM OPT jobs for international students can help STEM graduates unlock a 24-month post-completion extension. When your initial post-completion OPT period ends, a 60-day grace period is in effect. You can apply for the STEM OPT extension after the grace period. 

Students seeking the STEM OPT extension must apply within 60 days of receiving the DSO’s OPT recommendation, and up to 90 days before the initial post-completion OPT period expires.

In total, STEM degree holders can remain in the U.S. for a total of up to 36 months to gain practical work experience. However, you can receive an additional 24-month STEM OPT extension for each STEM-degree level earned in the future, like a master’s or doctorate. 

OPT vs. CPT: Key differences for STEM students

Some features of OPT and CPT are similar – for example, the job must directly relate to your area of study and can be fulfilled in a part- or full-time capacity. However, these two pathways have major differences you should be aware of if pursuing postgraduate STEM studies.

OPT	CPT
Can complete before or after graduating	Can only be completed while in school
Recommended by DSO; authorized by USCIS	Approved by DSO
Employment does NOT need to be tied to the program’s required curriculum	Training MUST be tied to academic requirements such as college credit
No employment offer needed	Employment offer letter required
Up to a 36-month duration (initial 12 month term and then 24 month extension)	No limit, but one year of full-time CPT can impact OPT eligibility
Processing time: two to six months	Processing time: approximately two weeks

Getting the most from your OPT or CPT experience

Pursuing OPT or CPT opportunities can help you develop your STEM career. Here are a few tips to ensure your practical training is worthwhile.   

• • Meet with your DSO early. Don’t wait until the last minute to speak with your DSO. Ask about OPT or CPT for international students and how these programs can support your academic and career goals. Discuss the best strategy for your needs, eligibility requirements and application timelines.  

• • Be present at your job. While you’re working in the U.S., take the initiative to connect with your colleagues and managers. CPT and OPT offer a valuable networking opportunity to build meaningful relationships with professionals in your industry. Stay curious by asking questions, and be open to new and challenging tasks while on the job. 
  • Plan for the future. Ensure you stay compliant with visa requirements while engaged in CPT or OPT. You’ll also want to remember key timelines – like the dates you’re allowed to apply for the STEM OPT extension – before your authorized training period expires.

FAQs

Does CPT affect STEM OPT?

Yes. CPT can affect a student’s STEM OPT eligibility if the student completes 12 months or more of full-time CPT. 

Can STEM students have three years of OPT?

Yes, the initial OPT term is 12 months, and a STEM OPT extension provides an additional 24 months.  STEM OPT jobs are for international students who graduate and work in a STEM field qualifying for a total OPT period of three years.

What are STEM programs for OPT?

International students who enroll in a field of study within the sciences, technology, engineering or mathematics are eligible for the STEM OPT extension. See the U.S. Department of Homeland Security’s STEM degree program list to see if your school’s program qualifies, or speak to your designated school officer.