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What’s a fair interest rate? Understanding APR for international students

If you’re exploring private international student loans to study in the U.S. or Canada, one of the first things you’ll see is a number with a percent sign: the interest rate. But what does that number really mean – and how do you know if it’s “good”?

For international postgraduate students, understanding interest rate and APR (Annual Percentage Rate) is critical. These numbers directly affect how much you’ll repay over time, how big your monthly payments are and whether one loan offer is truly better than another.

Here’s how to break it all down and make sense of what’s fair, what’s expensive and what to watch for.

Interest rate versus APR: Know the difference

Interest rate is the percentage the lender charges you annually on the amount you borrow. It’s the base cost of the loan.

APR, or Annual Percentage Rate, is the true cost of the loan per year – including interest, fees and other charges expressed as an annual rate.

Example:
If a student loan offers a 12% interest rate but charges a 5% origination fee, your APR might be closer to 13.5% or 14%. This is the number that tells you what you’re actually paying.

Why it matters:
Many lenders advertise only the student loan interest rate. But APR is what you should compare between offers. It’s the more honest number that takes into account application, insurance and other fees that lenders charge.

So, what’s a “good” interest rate for international students?

Let’s be real: international students in the U.S. and Canada don’t have access to subsidized government loans. That means your rates will likely be higher than U.S. citizen loans – but that doesn’t mean they are unfair.

Here’s what to know:

If your student loan lender doesn’t clearly show the APR or won’t provide it before disbursement, that’s a red flag.

What affects your rate as an international student?

Unlike domestic borrowers, you may not have a U.S. credit history or local income. So lenders assess your:

Mission-driven lenders like MPOWER Financing base your eligibility on your future potential, not just your financial past.

Don’t just look at the rate – look at what comes with it

A “good” rate doesn’t mean much if the rest of the loan terms don’t fit your life.

Before you commit, ask:

In many cases, an international student loan with a slightly higher APR – but better flexibility – might be the smarter choice.

Transparency and trust matter more than just numbers

MPOWER Financing is one of the few student loan lenders that offers fixed-rate student loans and no-cosigner student loans with no hidden fees. Instead of relying on a credit score or requiring collateral, MPOWER looks at your academic program, career track and graduation timeline.

With MPOWER, you get:

When comparing interest rates, MPOWER helps you understand the full picture – not just the headline number.

Your best interest starts with understanding interest

The rate you borrow today affects your life for years. That’s why it’s worth learning the difference between 11% and 16%, between fixed and variable, and between “low” and “transparent.”

Always ask for the APR. Always check the repayment terms. And if you’re unsure, slow down and get help from someone you trust – whether that’s your school’s financial aid office or a lender who’s used to supporting international students.

Types of schools – what international students should look for

Tuition fees for international postgraduate students are often the initial focus when comparing schools. However, success depends on much more than cost. It’s about finding a school where you’ll thrive academically, socially and professionally.

If you’re an international postgraduate student navigating the U.S. or Canadian education systems for the first time, the choices can feel overwhelming. Private or public? Ivy league or local college? City or small town? Rankings or affordability? The list goes on.

With hundreds of options and countless cultural differences to consider, it’s easy to get caught up in flashy university names and global rankings. But the truth is, your decision should be less about name recognition and more about finding somewhere that can support your growth both inside and outside of the classroom. Whether you’re just starting your international education journey or exploring the idea of transferring programs, here’s what to keep in mind as you search for the right school.

What to consider when exploring international education options

As an international postgraduate student, you’ll want to choose a strong academic program based on your interests and career goals. But you’ll also need support adjusting to life in a new country and a clear path to career opportunities after graduation. From academics to affordability, here are five key factors to help guide your decision and set you up for long-term success.

Choose the program, not the brand

Focus on the quality of your specific academic program rather than the school’s name or rank. A well-matched program with experienced faculty and practical learning opportunities will serve you far better than prestige alone.

Dig into course offerings, program strengths, student outcomes and research or internship opportunities. Your success starts with choosing the academic environment that fits your goals, not the one with the most name recognition.

Many universities publish graduate outcome data by program, including job placement rates and average starting salaries. So, be sure to check with your desired department.

It’s also worth connecting with current students or alumni to get a clear understanding of what the program is really like, both academically and culturally. Additionally, you might be able to explore recorded lectures, syllabi and faculty profiles online – all of which can give you a solid preview of how the program operates and whether the learning style matches your needs.

Look for a campus that supports international students

The right school will offer dedicated support to help international students transition and thrive. This includes guidance on maintaining your international student visa, finding health care and housing options, looking for on-campus jobs and taking advantage of programs that promote culture inclusion.

Some universities go further by offering peer mentorship programs, mental health counselors trained in cross-cultural issues or workshops geared toward adapting to the U.S. or Canadian classroom environment. These added services can make a significant difference in your first-year experience.

International support services can be a lifeline when you’re far from home. So, make sure your campus’ international student and scholar services (ISSS) office is active and accessible before you apply.

Prioritize real-world career preparation

Career services, curricular practical training (CPT) access and alumni networks can make a significant difference in your ability to land internships and jobs during school and after graduation. Look for schools that offer hands-on career support, such as job fairs, resume workshops, employer visits and one-on-one advising.

Public universities and mid-sized institutions are often well-connected within their local communities, offering direct access to industry partnerships (even if they aren’t top-ranked globally). Schools that emphasize experiential learning often give international students a competitive edge in applying for optional practical training (OPT), postgraduate work permits or employer-sponsored roles.

What matters most is how well a school prepares you for life after graduation, not just where it falls on a ranking list.

Understand the full cost of studying abroad

Don’t stop at just reviewing tuition and fees for international students. The total cost of an international education also includes housing, transportation, meals, health insurance, supplies and more. Depending on the city or region, these additional expenses can vary widely. A school with a slightly higher tuition in an affordable city might actually be less expensive overall than one in a high-cost metro area.

Compare total expenses across locations to make a well-informed financial decision. Additionally, you’ll want to check for scholarship opportunities, availability of on-campus jobs and payment plan options to help support the cost of your program.

Be strategic about value

A more expensive or highly prestigious school isn’t always the best investment. Beyond the top-tier global institutions, most employers focus on skills, experience and outcomes instead of the university name on your degree.

Choose a school that offers strong academic and career results. Ask yourself what kind of return each program offers. Will you graduate with industry certifications? Will you have opportunities to work on real-world projects or collaborative research? Is the alumni network active and engaged in your field? These types of questions can help measure outcomes beyond just the cost of tuition fees for international students.

Value is about getting the education, support and experience you need to succeed without overextending your budget and overpaying for a name alone.

Find an international education experience that fits your future goals

Choosing where to study abroad is one of the biggest decisions you’ll make. That’s why it’s important to find a school that will support your personal goals, professional ambitions and overall well-being as an international student.

You need more than just a well-known name or an affordable tuition. You deserve a program that will help you build real-world skills, a community that understands your unique needs and a campus environment where you feel seen and supported.

As you compare programs and tuition fees for international students, keep your goals and values front and center. Don’t lose sight of the big picture as you prepare for your adventure abroad: Ask the deeper questions; look beyond rankings; and prioritize support, value and opportunity.

If you need help narrowing your options, use MPOWER Financing’s school list to simplify your search. We support students at schools with strong student services and international outcomes. See the full list and take the next step toward your international education goals.

Breaking barriers, building futures: Inside MPOWER’s mission-driven culture

At MPOWER Financing, our mission is bold but simple: to make global education accessible to high-potential students from around the world. But behind this mission lies something even more powerful – our people. In 2025, we were named the #1 Best Fintech to Work For by American Banker – the culmination of seven consecutive years of American Banker recognition as a Best Fintech to Work For. This recognition wasn’t just earned – it was lived every day by a team that embodies inclusion, compassion and excellence. It’s about building a culture that mirrors the global, inclusive, high-achieving spirit of the very students we serve.

A culture as diverse as our students. We don’t just serve global citizens – we are global citizens. With 79% of our U.S.-based staff identifying as immigrants or racial minorities, and our team speaking 36 languages, diversity isn’t a buzzword at MPOWER – it’s our superpower. From engineering to customer service, every voice shapes our journey, enriching how we understand, connect with and support the students we serve from 182 countries.

At MPOWER, culture is not an HR initiative – it’s a way of being. Regular town halls, skip-level conversations with leadership and paid volunteer days ensure communication is open, transparent and impactful. Flexible parental leave and a culture of work-life balance support working parents, caregivers and everyone in between. 

Women make up 39% of our workforce – surpassing the U.S. industry averages, while still leaving room for improvement. Women lead key functions across engineering and marketing. In departments like talent and legal, women make up more than 50% of the team. We’re proud to match our internal commitment to gender equity with our external impact, including scholarships and support programs for women in STEM.

Growth at MPOWER is continuous. We invest in our team like we do our students – with scholarships, education stipends, mentorships, flexible work and space to thrive. Our inclusive, feedback-driven culture means everyone has a seat – and a voice – at the table. Every employee receives an annual development allowance, access to LinkedIn Learning and opportunities for advanced certifications and graduate education. Our leadership actively invests in mentoring, cross-functional collaboration and clear career pathways to help every team member thrive. 

As we empower students to pursue their education and careers abroad, we also walk alongside them. Thirty percent of our team have taken out education loans themselves – 40% among our managers and leaders. This shared experience creates deep empathy and fuels our passion to make financial inclusion a reality for all. 

A workplace that reflects the world we want to build. MPOWER’s values – oldness, compassion, excellence, inclusion, integrity and data-driven decisions – guide every hire, every policy and every team ritual. We believe our internal culture is our greatest differentiator, not just in attracting top talent, but in retaining it. Our employees don’t just work here – they grow, lead and belong.

In 2025 and beyond, we aren’t just building a fintech company. We’re building a movement – of people, for people and powered by purpose.

Living on a student budget in the U.S.: Tips you won’t find on TikTok

Budgeting for college studentsisn’t about skipping coffee or couponing your way through grad school. It’s about making smart, sustainable choices that protect your mental health, academic success and financial future – all while navigating a country you may be brand new to.

TikTok might show you how to turn instant ramen into gourmet meals, but it rarely talks about budgeting for visa fees, curricular practical training (CPT) delays or the shock of first-month rent. That’s where this guide comes in.

Here’s how to actually live well on a student budget in the U.S. – without going broke, burning out or relying on tips that don’t apply to your life.

Set up your financial baseline before your first class

Most students studying overseas underestimate how expensive the first 30–60 days in the U.S. will be. Before classes even start, you’ll need to budget for:

Create a one-time “startup budget” and treat it separately from your monthly living costs. This helps you avoid financial panic in the first weeks and gives you a more accurate view of what you’ll need.

Monthly budget strategies that work in the real world

Once you’re settled, your study abroad budgetneeds to shift into maintenance mode. Here are the practices that actually make a difference:

Build a 50–30–20 framework (with a student twist)

If you’re relying on international graduate student loans or limited income, this may look more like 70–20–10 – but the structure still helps.

Don’t chase the cheapest rent – chase total value
A cheaper apartment far from campus might cost more in bus fare, rideshares or time lost. Run the full math, including location, utilities and safety.

Use student status to your advantage
Many banks, software tools, transit systems, museums and even grocery stores offer student discounts – some only if you ask. Keep your university ID on you and always check.

Limit subscriptions and group expenses
Streaming platforms, rideshares and delivery services drain budgets fast. Find roommates who’ll split accounts or rotate meal prep. Small decisions add up.

Find flexible income, if your visa allows
If eligible under CPT or on-campus work, look for roles that align with your studies. Even tutoring in your native language can offer strong hourly rates with minimal hours.

Budgeting through uncertainty

International students face financial variables most domestic students don’t – like waiting on EAD (employment authorization document) approval, renewing a visa or job delays during optional practical training (OPT).

Here’s how to prepare:

Budgeting isn’t just about spending less. It’s about managing volatility and creating a system that won’t collapse if your plans shift.

Smart financing tools when budgets fall short

Even the most responsible students hit moments where budgeting isn’t enough. Maybe it’s a surprise move, tech issue or the time between graduation and your first job.

That’s where flexible financing can help bridge the gap.

MPOWER Financing offers no-cosigner student loans designed specifically for international students in the U.S. and Canada. You can borrow between US$2,001 and US$100,000 to cover:

MPOWER also provides free access to Path2Success, a support platform with tools to help students job-hunt, track expenses and plan for OPT or STEM OPT transitions. With transparent loan terms and fixed interest rates, you can budget with confidence – even if your financial needs evolve during your degree.

Real budgeting is about freedom, not just frugality

Living on a student budget doesn’t mean saying no to everything. It means making intentional trade-offs so you can say yes to the experiences and outcomes that matter most – your education, your career and your stability.

Start with a system that fits your visa status, academic pace and cultural reality. Build flexibility into your plan. And when needed, don’t be afraid to lean on tools and education loan financing designed for students like you.

How to research careers abroad and pick the right school

An international education in the U.S. can open the door to new career pathways, help you climb the ladder within your field or be a stepping stone to further study.

If you want to attend an international study program but lack clarity around your future career goals, it can be hard to know which programs will set you up for success down the line. When weighing your options, it’s important to consider not only which degree programs align with your interests and fit within your budget, but also which universities offer the best international student job opportunities, graduate outcomes and career services for international students.

Here are a few tips on how to solidify your career goals, explore degree options and find the right international study program in the U.S.

International education tip 1: Self-reflect to clarify your career goals

Students are often inclined to choose a degree program first and think about a career much later. Wrong order! To determine the best postgraduate program to pursue, you’ll be better off with a long-term vision of the work you want to do and the career you want to have.

So, how do you clarify your long-term career goals? Start by reflecting on your interests, values and skills. Think back on previous educational and professional experiences. What academic courses or job opportunities felt meaningful and energizing? In which experiences did you encounter success?

To narrow in on a career path, try answering the following questions:

  1. Interests: What school subjects capture your attention? What fields or industries appeal to you?
  2. Values: What impact do you want your work to have on the world?
  3. Skills: In what work or classes do you excel?
  4. Personality: Do you prefer to work with people or data? Do you prefer to work alone or with a team? Are you creative?
  5. Lifestyle: Where do you want to live? How much money do you want to make?

International education tip 2: Cross-reference your passions with high-paying, high-demand jobs

Once you’ve made a shortlist of potential career paths, make sure to research the U.S. job market. There are plenty of job opportunities for international student graduates, but pursuing a career in an industry with a high growth rate improves your odds of employment and career longevity.

According to the Bureau of Labor Statistics, most of the fastest-growing occupations in the U.S. are in the following industries:

The growth rates for jobs in these industries, like nurse practitioner, data scientist and information security analyst are all predicted to grow more than 30% in the next few years. These careers also tend to offer strong salaries. Nurse practitioners, data scientists and information security analysts, for instance, all make an average of US$100,000+ per year.

International education tip 3: Choose an affordable degree program with a strong return on investment (ROI)

With a clear picture of your career path, you’ll be better able to identify which degree programs will set you in the right direction.

It’s important to research your program options carefully. Even within the same field of study, different degree programs vary in terms of duration, graduation requirements and cost.

For most students, scholarships and savings won’t cover all their international education expenses. Private international student loans can bridge the gap. To keep your student loan repayments manageable,  U.S. News & World Report recommends keeping your debt-to-income ratio below 8%. This means choosing affordable degree programs that lead to lucrative careers.

Here are four options for postgraduate degrees in growing fields that can lead to strong starting salaries, positive long-term ROIs and low debt-to-income ratios:

Mechanical engineering

Nursing

Accounting

Computer science and information technology

The above degrees also qualify for a 24-month STEM OPT extension, allowing you to work in the U.S. for up to three years after your international education. To confirm whether your degree program is STEM-designated, check out your university website or  the international student center on campus.

For a streamlined loan repayment process, check out international student loans from MPOWER Financing. MPOWER offers no-cosigner student loans with competitive, fixed interest rates and no prepayment penalty to make your repayment process as stress-free as possible.


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International education tip 4: Choose career-forward schools

When choosing a university abroad, you’ll evaluate schools for criteria like location, cost and reputation. Don’t forget to look for schools with career-forward infrastructure, from co-op and internship opportunities to career services for international students.

Here are three criteria to look for during your school hunt to ensure the best career outcomes after graduation:

1. Real-world learning opportunities

U.S. employers look for soft skills like communication, leadership and collaboration just as much as they look for technical skills. For international students in particular, having U.S. work experience on your resume gives you a competitive edge during the hiring process.

Look for universities that offer international student job opportunities through their degree programs. A number of MPOWER-eligible schools offer curricular practical training (CPT) for international students, which incorporates off-campus co-op or internship experiences into course requirements. Students have the opportunity to apply curricular learning in real-world settings, network within their industries and hone their soft skills.

2. Career advising

Check that your preferred universities have robust career services that equip international students with professional connections and know-how to thrive after school. Ask whether your target school provides:

3. Strong alumni outcomes

Alumni outcomes can indicate how well a particular university or degree program prepares its students for the job market. Use platforms like LinkedIn to connect with international alumni from your target universities to discover where graduates have found employment and what roles they’ve landed.

Don’t be afraid to reach out to alumni and ask about their graduate school experiences. They can provide useful insight into what the degree program did or did not prepare them for in their careers, as well as what on-campus resources and international student job opportunities they took advantage of.

Start with confidence – check if your dream program and school is on the MPOWER eligible school list

The first step to a lucrative and fulfilling career in your desired field is the right degree program at the right school. It’s worth spending the time and effort to reflect on your goals and research your options carefully.

MPOWER only selects schools with proven career outcomes for international students.

For unparalleled student outcomes and the opportunity to fund your degree with no-cosigner, no-collateral international student loans from MPOWER, get your degree from one of MPOWER’s 500+ eligible schools in the U.S. and Canada.

 

MPOWER’s eligible schools

Affordability vs. prestige – When do both matter?

Every year, university applicants face a common dilemma: When granted admittance to multiple universities, should they choose an expensive, high-ranked school or a more affordable option?

With the price of higher education in the U.S. rising, domestic and international students alike have begun to question the long-held assumption that a pricey, elite education will, eventually, offer big returns. While well-respected, brand-name universities can certainly expand career opportunities for some, it’s not a guarantee. So which schools actually offer the best return on investment (ROI) on your international education?

Below, we answer some of the most commonly asked questions from prospective students wondering whether to choose the university’s brand name or to focus on the cost of a postgraduate degreeDoes prestige make a difference in career outcomes?

Yes, a prestigious international education can make a difference in career outcomes – but only at the very top. A study conducted by the Harvard-based nonprofit Opportunity Insights found that attending an Ivy League or “Ivy-plus” school, such as Stanford or Duke, can greatly increase a graduate’s chances of working for a prestigious company and increase one’s future earnings. Data from Georgetown University’s Center on Education and the Workforce confirmed that the median 10-year ROI for Ivy League graduates is nearly double that of graduates from state schools or smaller private liberal arts schools.

This is especially true for students entering competitive, high-salary sectors such as finance, business and consulting, where networking and name recognition can make a big difference during the hiring process.

But Ivy League schools are exceedingly hard to get into, with acceptance rates at Harvard, Stanford and Columbia dropping below 5%. So what choice should you make for your international education if you don’t get accepted to one of the top 10-20 universities nationwide? Does prestige still count?

What schools offer the best ROI on your international education?

The Georgetown University data shows that, while Ivy League schools offer a high 10-year median ROI at US$265,500, the next 63 top schools in the U.S. offer a solid 10-year median ROI of US$135,000. Moreover, the public flagships in each state, like the University of Virginia or UMass Amherst, generally outperform elite private schools outside the Ivies by 9%, with a median 10-year ROI of US$148,000.

Conclusion? The allure of an elite school can be enticing, but you should make your decision based on real outcomes over optics. Most of the time, when given the choice between private and pricey or public and affordable, public and affordable is the way to go.

How do I estimate the ROI of my international education?

If you’re trying to determine which of your potential universities will offer the best long-term returns, make sure to consider the following factors:

Total cost

Tuition doesn’t account for the total cost of your education – you also have to budget for the cost of housing, books and materials, health insurance and more.

The total cost of a program can be significantly altered by a factor like location, which determines the price of rent, food and transportation. While attending a university in a big city may give you access to a wider array of internship and job opportunities, it will also cost a lot more than studying in a college town.

Field of study

Your intended field of study makes a big difference in your estimated ROI. It may be worth shelling out the money for a prestigious degree program if you plan on entering a high-demand, high-paying field like finance, tech or health care. On the other hand, if you plan to pursue a less lucrative field, it may be prudent to choose a more affordable degree option, especially if the career you are pursuing is less brand oriented, i.e. healthcare.

For insight into which degree programs offer the highest returns, check out MPOWER Financing’s commonly selected majors for international students.

Graduate outcomes

Use platforms like LinkedIn to learn about the company placements and job titles of graduates from your target schools. You can also reach out to career services at your prospective universities to learn more about alumni salary ranges, postgraduate employment rates and top employers. Alumni outcome data can give you a clearer picture of what your professional life might look like after a particular degree program and help you determine which schools are most worth your money.

If you turn to international student resources such as college guides for help comparing schools, make sure they factor alumni outcomes into their rankings. The 2025 Princeton Review of Best Value Colleges, for instance, evaluates based on several criteria, including graduation rates, student debt and alumni salaries.

At the end of the day, there are several elements that influence ROI, from location to financial aid to field of study. All these factors need to be carefully considered when estimating the financial return of a degree program.

How much debt should I be willing to take on for an elite international education?

In the U.S. and Canada, financial aid is  limited for international postgraduate students. Borrowing money from private education lenders like MPOWER Financing can make an international education possible, but borrowing becomes a problem when students don’t think critically about their anticipated salaries after graduation.

Before borrowing money for your degree, you should:

For international student loans with competitive interest rates, no prepayment penalty and a streamlined repayment process, check out MPOWER Financing. With MPOWER’s no-cosigner, no-collateral international student loans, you’ll not only open the door to your dream international education but also gain access to holistic student services through MPOWER’s Path2Success program.

Want to get started? Check your eligibility today.

Get the best of both worlds – affordable schools with real ROI

MPOWER is here to help you make the best financial decisions for your future.

Trying to find a graduate program in the U.S. or Canada with strong alumni outcomes and high ROI? Check out MPOWER’s 500+ eligible schools.


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Test optional explained — Why you should take the GRE/GMAT anyway

Standardized test scores are an optional application component for many postgraduate programs in the U.S. and Canada. Students who are juggling multiple requirements of an international education – like securing a visa and writing a personal statement – might be relieved to drop the GRE or GMAT from their study abroad checklist.

But just because test scores are optional, doesn’t mean they’re not meaningful. Including strong GRE/GMAT scores in an application can potentially give students an edge with admissions.

Here are six reasons to prepare for the GRE/GMAT.

1. “Test optional” isn’t “test blind”

Some postgraduate programs state that submitting test scores is optional, or proclaim that their admissions process is “test blind”. Test-optional guidelines give students the choice to submit scores. Students who don’t provide their test scores are not penalized.

The important distinction between “test optional” and “test blind” is that “test-blind” programs won’t take submitted scores into consideration when deciding whether to admit you.

With “test-optional” programs, strong test scores can still significantly strengthen your application, especially if you have an average GPA or earned your undergraduate degree from a lesser-known institution.

2. Test scores can unlock scholarships

Skipping the GRE/GMAT exams might seem like an easy way to save money. Depending on the test you take, it could cost US$220-US$300, not including time and prep materials. But taking these exams could be worth much more in the long run.

Investing in the GRE/GMAT can help you access international postgraduate scholarships. Even if your postgraduate program says its admissions process is test-optional, merit-based scholarships might rely on test scores as a factor when choosing award recipients.

If you receive a scholarship award, this financial aid can offset the exam fees and dramatically reduce your out-of-pocket expenses for school.

3. Stand out in competitive pools

Submitting high standardized test scores positions you as a stronger candidate, in general, but test scores are especially important when applying to ultra-competitive programs.

Admissions committees are likely evaluating qualifications from other students whose GPA, work experience and academic acclaim are similar to yours. With so many other exceptional students in the candidate pool, your GRE/GMAT score can be the tie-breaker that sets you apart.

4. Standardized scores build trust

Admissions committees might be unfamiliar with transcripts, or other academic records, from your home country. The GRE/GMAT are the most common proficiency exams taken by postgraduate students in the U.S. and Canada.

By volunteering your GRE/GMAT scores, admissions committees have a consistent and familiar benchmark to assess your application against all other candidates.

5. Signals commitment and seriousness

Choosing to take the test, when it’s not a mandatory requirement for admission, indirectly reveals a few characteristics about you as a student. It demonstrates initiative and a willingness to go above and beyond toward your international education.

It also signals your serious intentions to get into the program. Students don’t typically decide to take the GRE/GMAT on a whim – it takes long-term planning. From gathering review materials and studying extensively, to making a financial commitment, taking these exams shows that you’re a motivated student who doesn’t do the bare minimum.

6. Visa credibility support

Although the DS-160 application for a U.S. student visa doesn’t explicitly ask for GRE/GMAT scores, having them available can help, indirectly. During the visa interview process, a consular officer asks many questions about your study plans, including your academic readiness.

Bringing your GRE/GMAT scores to the interview as supporting documents demonstrates that you’re academically capable of succeeding in your chosen program. It also shows that you’ve taken thoughtful steps to prepare for this next step in your international education.

When skipping standardized tests might make sense

There are some scenarios where opting out of the GRE/GMAT might be acceptable:

Although there are some valid justifications for ignoring an optional test, they’re typically extreme reasons. Even then, these reasons have their own considerations.

For example, you might apply to a couple of programs that are test-blind, but the other three programs on your top five list might require score submissions. Unless you intend on only applying to test-blind programs, you’d need to prepare for – and take – the GRE/GMAT in advance anyway. And although your application might be highly competitive, there’s no guarantee that other students don’t have equally extraordinary qualifications.

If you’re unsure if having the GRE/GMAT on your study abroad checklist is worth it, reframe this task as an investment in your future and your journey toward international education success.  

Want to know which test-optional schools actually deliver results?

Submitting your strong test scores can give you an edge in the admissions process. The next step for accepted students is fine tuning how to pay for their education. If you still need financial support after gathering aid, like international postgraduate scholarships, MPOWER Financing can help.

Whether you’re pursuing an MBA, engineering or other postgraduate program, MPOWER’s school network includes the most reputable, accredited colleges and universities in the U.S. and Canada.  

 

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Need funds fast? MPOWER has you covered for the fall 2025 semester

International students sometimes face the challenge of needing top up funding to continue their education. Fortunately, MPOWER Financing is here to provide a straightforward solution. For postgraduate STEM and business degrees, MPOWER loans are available to students at 500+ universities in North America. With our support, your postgraduate education can proceed without interruption, backed by resources tailored just for you.

 

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Speedy and straightforward funding is available from MPOWER Financing

Simplifying your journey: Visa and career assistance with MPOWER

Navigating the visa process is easier with MPOWER by your side. We’ve partnered  with trusted global visa experts to offer you a free exclusive Visa Support Course.

This customized online course covers:

Career resources

Access to free career resources is at your fingertips with MPOWER Financing. We provide tools and networks to help you succeed in your professional journey. MPOWER has partnered with a dedicated career platform for international students studying in the U.S.

Students get free exclusive access to:

 

MPOWER is committed to supporting students’ academic aspirations, ensuring financial hurdles are minimized. Take the next step in your academic career with MPOWER Financing – where education meets opportunity. Apply now and empower your future with confidence and clarity.

 

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Budgeting as an F-1 visa student living in the U.S.

Living in the U.S. as an international student on an F-1 visa means balancing tight work restrictions with real financial responsibilities. Tuition is only part of the equation. Rent, food, transportation, visa renewals and emergency costs can all add up fast – and budgeting for college students requires more than just cutting back on takeout.

The good news? With the right system, you can build a budget that helps you feel stable and focused – without feeling deprived. This guide is built specifically for F-1 visa students like you, who need to stretch limited funds across unpredictable timelines.

Understand what your visa allows (and limits)

The first step in building a working budget is knowing where your money can – and can’t – come from.

Under F-1 visa requirements and regulations:

That means your income during school is likely limited, especially in your first year. Your budget needs to be designed with those limits in mind – no assumptions about side gigs or freelance work.

That’s why knowing about work authorization for international students is essential before planning any job income.

Break your budget into real-life categories

Traditional budget templates don’t always apply well to international students. Try adapting this breakdown:

Fixed expenses (60–70%)

Academic expenses (10–15%)

Daily living (10–15%)

Emergency fund or cushion (5–10%)

Tip: Use apps like Mint, YNAB or a simple spreadsheet to categorize your expenses monthly. Visualizing your spending helps you stay grounded – and catch problems early. For students tight on funds, knowing how to build credit in the U.S. can also make it easier to manage future loan or housing costs.

Tactics to stretch your budget further

Here are some strategies that actually work for F-1 visa students:

Cook at home in batches
Buying groceries in bulk and meal prepping a few times a week saves money and time – and helps avoid expensive food delivery.

Find housing with shared expenses
Living with roommates who share utilities, internet and even meals can lower monthly costs substantially. Just make sure your lease and legal arrangements are clear.

Use your student ID everywhere
Many local businesses, software providers, museums and public transit systems offer student discounts – some you’ll only get if you ask.

Shop used or borrow textbooks
Use your university library’s reserve copies, online rental sites or student Facebook groups to avoid paying US$100+ per book.

Apply for internal scholarships and assistantships
Even small awards or part-time roles (especially in your second year) can make a big difference.

Building financial flexibility with support from MPOWER Financing

When your on-campus income is limited and costs are rising, it’s hard to budget your way out of every shortfall. That’s where outside financial support and education loan providers can help bridge the gap.

MPOWER Financing provides no-cosigner student loans for F-1 visa students pursuing degrees at approved schools in the U.S. and Canada. Loan amounts range from US$2,001 to US$100,000, and funds can be used for education-related expenses, even beyond tuition, including:

Note: In Canada, an MPOWER loan can cover university-invoiced expenses.

You’ll also get access to Path2Success, MPOWER’s free career and financial planning platform designed specifically for international students navigating OPT, STEM extensions and entry into the workforce.

If your budget needs help staying stable across semesters – or between graduation and your first paycheck – MPOWER gives you more options without needing a cosigner, credit history or collateral.

Your budget is your safety net

F-1 students face unique financial challenges while studying overseas, but that doesn’t mean you’re stuck. A smart, flexible budget – paired with the right support – gives you the ability to focus on your studies, take smart risks and protect your visa status.

Plan early. Track often. And don’t be afraid to ask for help or use tools made for international students. Your money should serve your degree – not the other way around.

Smart financial moves before applying for an international student loan

If you’re considering a personal education loan to fund your education in the U.S. or Canada, the application isn’t the first step – it’s the middle. What you do in the months leading up to your application can shape your loan eligibility, interest rates, borrowing strategy and even your peace of mind once the money lands.

For international students, loan access often comes with more complexity – limited credit history, unfamiliar systems, visa-related timing issues. But with a few smart financial moves upfront, you can reduce those challenges and approach your loan decision with more clarity and control.

Here’s what to do before you apply.

Research and assess what you actually need to borrow

It’s tempting to request the full amount a lender offers. But overborrowing means more interest paid over the life of a loan, more pressure after graduation and less financial freedom long term.

Instead:

Use this total to determine what you truly need to borrow – not just what’s available.

Organize your financial documents early

Most education loan providers – especially those serving international students – will ask for:

Start gathering these before you apply. This avoids delays and shows lenders you’re prepared and serious.

Bonus: Getting organized early makes it easier to apply for international scholarships, not just loans.

Build or understand your credit profile (if applicable)

If you’ve been living in the U.S. or Canada for a while, check if you have a local credit file. Even a small credit history – like a secured card or utility payments – can influence the terms of private loans for international students.

If not, don’t worry. Some lenders, including MPOWER Financing, don’t require a credit history or cosigner. But it’s still smart to:

Even without a score, showing financial responsibility matters.

Know what kind of lender works for you

International students usually can’t access government-backed loans. That means private education loan lenders are your primary option – but not all are built the same.

Before applying, ask what your lender requires and offers:

These questions help you filter out predatory or inflexible lenders before you’re too far into the process.

Where MPOWER Financing fits in

MPOWER Financing is designed specifically for international postgraduate students pursuing degrees in the U.S. and Canada. Unlike traditional lenders, MPOWER doesn’t require a cosigner or local credit history.

If you’re preparing to apply, here’s what you’ll find:

Starting your international student loan search with MPOWER means you’re working with a team that understands your situation – and supports you throughout your study abroad journey.

A little planning goes a long way

Applying for a student loan is more than filling out a form – it’s a financial milestone that will follow you for years. But with the right steps ahead of time, you can borrow smarter, avoid common pitfalls and make sure your loan supports your goals instead of limiting them.

Start early, ask questions and choose partners that work for you – not just around you.


*Rates as low as 9.99% (10.89% 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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