Submit Your Application by Aug 31, 2025 to earn $100 cash back once funded. Learn more about the MPOWER Career Accelerator for our customers.

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:

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.

Learn more

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.

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: 

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.   

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.

How to use CPT to gain work experience as a business major

Curricular practical training, known as CPT, allows international students to work in their chosen field while enrolled in an undergraduate or postgraduate program, creating an international student job opportunity. 

International students studying business in the U.S. can use CPT to enhance their resumes, build a professional network and apply what they’ve learned in the classroom to real-world situations. Here’s how to apply for CPT, how CPT can jumpstart your career in business and how MPOWER can help you make the most of your CPT experience.

CPT for international students authorization process

You can use CPT as an international student to supplement your postgraduate education and gain practical experience. Here are the steps for gaining CPT authorization:

1. Determine your eligibility

In order to qualify for CPT, you must be a full-time F-1 student at a Student and Exchange Visitor Program (SEVP)-certified college or university. Your school must consider employment to be an integral part of your academic curriculum. 

Off-campus international student job opportunities like CPT become available after one academic year of full-time enrollment. Some exceptions may exist for postgraduate programs that require immediate employment as part of their curriculum.

You must use your CPT authorization before you graduate. 

2. Find a job opportunity that aligns with your curricular goals

CPT for international students must not only align with, but also be required by your course of study. To find an appropriate CPT opportunity, start your job hunt early. Make use of your university’s career counselors and networking events.

MPOWER customers can find their CPT opportunity using MPOWER’s F-1 internship and job search tool. To streamline your CPT authorization process and make the most of your CPT opportunity, become an MPOWER customer. With MPOWER, you can finance your degree at any of MPOWER’s 500+ eligible schools with a no-cosigner, no-collateral loan for up to US$100,000.

3. Use your school’s established process to request CPT

 A designated school official (DSO) will review your application, confirm your eligibility and authorize your CPT. You must wait until the designated start date on your CPT authorization to begin your international student job opportunity.

For more information on CPT for international students, check out the resources from organizations like USCIS, NAFSA, and MPOWER.

The importance of CPT for international students in business

CPT can enhance the education and career readiness of a student in any field, but students pursuing a postgraduate business degree may find the program particularly useful.

The job market can be oversaturated with highly qualified business graduates. CPT can help international students gain the competitive edge they need to secure their dream jobs after graduating.

To maximize your professional growth with CPT as an international student in business, you can:

CPT for international students FAQs

Can I use CPT for a full-time job?

Yes – with CPT for international students, you can work up to 40 hours per week. However, if you choose to work full time at your CPT opportunity for 12 months or more, you’ll lose your eligibility for OPT later on. To ensure your future OPT eligibility, it’s best to work part time (20 hours or less per week) or less than 12 months.

Can I apply for CPT for a job that is not related to my major field of study?

No – your CPT international student job opportunity counts toward your credits for your degree; therefore, it must align with your major field of study. To find a compatible opportunity, you can utilize your school’s career center, network with your professors and browse CPT employer sponsorship lists such as MyVisaJobs.

Can you start a business with CPT?

For the most part, no – CPT for international students requires you to work for an employer other than yourself. However, if you are a business or entrepreneurship major committed to starting a company through your CPT, there may be ways to do so.

If you have an American citizen co-founder, you can help them passively (without payment) while they get the startup off the ground. Once you’ve incorporated the company in the U.S., applied for an EIN number, secured a U.S. mailing address and acquired a business license, you may be able to apply for CPT authorization with your company, so long as the company and your position there align with your degree program.

There are no guarantees you’ll gain CPT authorization for your startup. For clarification, contact a DSO at your college or university.

Final thoughts: Using CPT for international students to gain work experience as a business major

In a competitive, relationship-oriented industry like business, gaining work experience during your studies can significantly improve your chances of securing a dream role after graduation. 

MPOWER customers find the best CPT international student job opportunities with MPOWER’s unique career services. Explore MPOWER’s loan options today to gain access to competitive interest rates and holistic support for your CPT experience.

Common mistakes international students make when applying for an education student loan

From understanding loan terms to properly assessing funds and expenses, students navigating the education student loan process face a steep learning curve.

If you’re applying for an international student loan, this may be the first major financial decision of your life. MPOWER Financing wants you to tackle this process fully informed. Read on to discover the ins and outs of the loan application process, common mistakes to avoid and why you should consider financing your postgraduate international education with a no-cosigner international student loan from MPOWER.

 

Apply Now

 

How do loans work for international students?

International students have a variety of loan options. Of the available private education lenders, NerdWallet and CNBC identify MPOWER’s no-cosigner international student loan as the best private loan option for postgraduate international students studying in the U.S.

You can use education student loans to cover all education-related expenses during your study abroad journey in the U.S., including tuition, housing, books and health insurance. In Canada, loan funds can cover tuition and any other university-invoiced expense.

Here are the major steps of the education student loan process for international students:

1. Identify potential lenders for your education student loans

Research potential education lenders. Different loan options will have different loan terms such as:

 

Some education lenders may offer unique benefits. For instance, All MPOWER students gain access to MPOWER’s Path2Success Program, which provides international students with visa support, financial empowerment and career services.

Research your options thoroughly and identify the education student loans with the terms and conditions that best suit your needs.

2. Check your eligibility for your educational student loans

Make sure you meet your education lender’s criteria, from visa requirements to academic performance. Some lenders may also require a minimum credit score or a U.S. cosigner. 

3. Can international students get student loans without a cosigner?

MPOWER understands that international students without credit or an available U.S. cosigner may struggle to qualify for most private student loans in the U.S. and Canada. That’s why MPOWER offers no-collateral, no-cosigner international student loans with no minimum credit score requirement.

4. Determine the amount you need to borrow with your education student loan

It’s important to borrow enough to cover your education expenses without accidentally overborrowing and landing yourself in unnecessary debt down the line. Carefully add up your education expenses. Then, subtract all your existing funding, from personal savings to financial aid to anticipated income. The result should be the amount you need to borrow.

You can borrow up to US$100,000 with MPOWER to cover your education expenses. When you apply, MPOWER asks you to list your funding sources to help you determine the right amount for your no-cosigner international student loan.

5. Gather documentation 

You’ll need to provide:

6. Fill out the education student loan application

Fill out your loan application carefully. If you submit an inaccurate or incomplete application, you risk delaying the process or having your application rejected. Consider asking a family member or friend who has been through the loan process before for assistance.

What are three considerations when getting a student loan?

A no-cosigner international student loan from MPOWER can make your dream of studying in the U.S. possible. All loans, however, come with the following considerations:

 

Despite these thoughts, most students studying in the U.S. choose to take out student loans. It is noteworthy that MPOWER makes its loan decisions based on a student’s future earning potential and the program of study a student will be pursuing. As a result, MPOWER has confidence in an approved student’s ability to handle education loan repayment.

With proper financial education and planning, you can take out education student loans without compromising your future credit or life plans.

Common mistakes to avoid when applying for an education student loan

Overlooking the fine print

Review every loan offer carefully. Make sure you understand the implications of your loan’s terms. Missing key details, such as a sizable application fee or strict repayment conditions, can create undue financial challenges down the road.

Misunderstanding interest rates

The interest rate is one of the most important details of your loan offer. It’s important to know your loan’s interest rate and understand whether it’s variable or fixed.  Fixed interest rates are a hedge against inflation, which can be important in unpredictable times. 

That said, the interest rate isn’t the only important condition of your loan offer. Don’t select an offer based on interest rate alone and neglect to consider fees, repayment terms and customer service, which all contribute to your borrowing experience.

Missing tuition deadlines

Though most private education student loans don’t have application deadlines, your college or university will have tuition deadlines, likely at the beginning of each semester. To secure the necessary funds in time, MPOWER suggests you apply for your student loans as soon as you apply to a school.

To apply for a no-cosigner international student loan from MPOWER, check your eligibility today.

Final thoughts: Avoiding common mistakes when applying for a no-cosigner international student loan

If you feel daunted by the student loan process, you’re not alone. You can peruse MPOWER’s blog for more information about applying for education student loans and to learn about the advantages of financing your education with a no-cosigner international student loan.

How Indian students can prepare financial documents for their international student visa interview

When planning to study in the United States, one of the biggest hurdles is preparing financial documents for your international student visa. As an Indian student, you must demonstrate you have sufficient financial resources to cover your tuition, living expenses and other related costs. Without clear proof of your ability to pay for your education in the U.S., your visa application could be delayed or even denied. Therefore, you want to have a firm understanding of which documents you need and how to present them to ensure a smooth visa application process.

What is acceptable proof of funds for a U.S. student visa?

You must provide proof of funds for your international student visa application in order to show you can financially support yourself during your studies in the U.S. This includes showing funds to cover not only tuition and fees but also living expenses, health insurance and travel costs.

The U.S. government requires financial documentation that demonstrates you have enough funds to cover at least the first year of your education. They specifically look for consistent, reliable documentation that shows funds are readily available to prevent gaps in funding for your education while overseas. This includes supporting documents detailing the sources of funding, such as personal or family savings, scholarships and international student loans.

What are the documents required for a U.S. visa interview in India?

As an Indian student planning to study in the U.S., you must prove you have sufficient financial resources to cover the cost of attendance. There are a number of ways to show proof of funds for a U.S. visa application, including:

 

It’s common to submit more than one proof-of-funds document if you’ll be using multiple funding sources. Most international students use a combination of family savings, scholarships and loans for study abroad.

Tips for preparing financial documents for your international student visa

Preparing your financial documents for your international student visa application requires careful attention and organization. Here are some practical tips to ensure you submit accurate documentation to avoid delays in processing:

  1. Ensure all documents are recent and updated. Financial documents – including bank statements, loan approval letters and scholarship award letters – are current and reflect your most recent financial situation.
  2. Provide clear and concise information. Avoid clutter or unnecessary details that may confuse the visa officer. The more straightforward the information, the better your chances of approval.
  3. Organize documents by category. Organize your financial documents into clear categories such as “personal savings,” “scholarships” and “student loans” to help the visa officer easily navigate your application.
  4. Prepare translations. If any of your documents are not in English, ensure you provide certified translations of those documents.
  5. Show consistency. Double-check information matches across all documents. For example, if you include a sponsorship letter, make sure the amount matches figures shown in your sponsor’s bank statements. Any discrepancies can raise questions and slow down the approval process.
  6. Get help from professionals. If you’re unsure about the process, seek professional advice to help meet visa requirements.

MPOWER Financing helps international students navigate the visa process. 

How MPOWER can help you with your international student visa

MPOWER Financing understands that securing an international student visa can be a complex process. MPOWER offers comprehensive student loans services to help international students like you access the funds you need to study in the U.S.

In addition to offering no-collateral loans for study abroad, MPOWER Financing also provides free visa support letters to assist you in meeting visa requirements. MPOWER works with you to ensure your documentation is complete and accurate, helping you avoid delays in the visa application process.

MPOWER has partnered with the global visa experts at Catalyst GEM to offer an exclusive and free visa support course. The reason: One out of every three prospective international students currently fails the visa process and a key factor is a lack of adequate preparation. The F-1 Visa Essentials Preparation Course is a customized online course to help you understand all the elements of the F-1 visa process and maximize your chances of a positive outcome. For an additional fee, Catalyst Gem can conduct mock interviews that provide you feedback so you’re fully prepared for your visa interview.

MPOWER also offers it’s Path2Success program which includes financial services and career support specifically for international students – ensuring you have the tools and resources you need to succeed both during your studies and after graduation.

Smart ways to manage student loan payments for international students

There are several smart ways to reduce the total cost of a private education loan. A large student loan can lead to significant monthly payments and cause your balance to grow quickly, making it harder to stay on top of your finances in a new country. However, there are several repayment strategies you can use to minimize the overall cost of your student loans — starting with reducing your interest rate.

How can I reduce the interest rate on my student loan?

Reducing private education loan rates can significantly lower the total cost of your loan. One of the easiest ways to reduce your interest rate is by enrolling in automatic payments. Many lenders offer an interest rate discount (e.g., 0.25%) when you sign up for their auto pay program. While this might seem like a small reduction, it can result in noticeable savings over time.

What strategies can you use to reduce the total cost of a student loan?

Reducing the total cost of your student loans isn’t just about lowering your interest rates. It’s also about being strategic with your loan repayment plan and overall financial habits. Here are some practical strategies to help reduce your education student loan costs:

1. Take advantage of discount programs for private education loan rates

As mentioned, automatic payments can offer an interest rate discount. In addition, some lenders offer loyalty discounts for borrowers who maintain a relationship for an extended period. Some even offer graduation incentives. So, always ask about available discounts or promotions for your situation.

2. Make extra payments on your student debt

Paying more than the required minimum each month can help reduce the cost of your student loans over time. Even small extra payments can make a big difference. Just make sure the extra payment is a “principal-only payment” to ensure it goes directly toward reducing your loan balance rather than future payments.

3. Create a detailed budget

Managing your student loan repayment begins with having a clear understanding of your finances. Creating a detailed budget helps you see where your money is currently going and how you can allocate more money to pay down your student loans faster. Additionally, a well-structured budget can help you avoid missing payments, which could negatively affect your credit history and make it harder to reduce your private education loan rates through refinancing in the future.

4. Monitor your credit score

Your credit score is one of the most important factors in determining your interest rate on loans. Maintaining a good credit score can help you qualify for lower private education loan rates or better refinancing terms. So, it’s important to make on-time payments and regularly check your credit report to spot any errors or fraud. Watching your credit score rise can also motivate you to continue making smart financial decisions!

5. Build financial literacy

Educating yourself about personal finances can empower you to make informed decisions about managing your student loans and beyond. There are many free resources available online, along with opportunities through university support services.

MPOWER Financing offers free financial empowerment resources to help international students throughout their study abroad experience. Here are just a few for quick reference:

 

Financial literacy tools are literally at your fingertips – from social media to online finance platforms to this very blog. You just have to be willing to explore and find what resonates with you.

Managing education student loan repayment the smart way

Managing your student loan repayment requires a combination of strategies. Remember that every little bit counts. Whether it’s taking advantage of an autopay discount, finding ways to make extra payments or sticking to a healthy budget, these actions can reduce your private education loan rates and build long-term financial stability as an international student.

Explore MPOWER Financing’s resources today and take control of your student loan repayment and financial future!

How to handle unexpected financial emergencies as an international student

For international students studying abroad on a budget, managing the financial demands of a postgraduate degree can be particularly stressful. Beyond the high cost of tuition, international students also contend with travel expenses, devalued national currencies and the inaccessibility of financial aid.

With all these pre-existing challenges, things may feel particularly dire when an unexpected financial emergency strikes. However, financial assistance for postgraduate students exists in many forms, from institutional emergency funds to economic hardship employment.

Here’s a summary of the ways you can tackle the financial challenges of studying abroad and how MPOWER’s financial support can help.

 

Learn more

 

Five tips: Financial basics for postgraduate students

It’s important to make use of all the available resources for students studying abroad on a budget. Here are five tips for managing your finances before an emergency strikes:

1. Access financial aid

You may be able to access institutional aid through scholarships, grants and assistantships at your university. Contact your school’s International Student Services (ISS) center and financial aid office to learn more about your options. Additionally, consider talking to your home country’s ministry or Department of Education to inquire about financial assistance for postgraduate students.

You can also apply for international scholarships from private organizations. Check out IEFA, International Scholarships, and MPOWER’s graduate scholarships for opportunities.

2. Make a study abroad budget

Once you’ve reduced your out-of-pocket expenses by applying for financial aid, it’s time to create a thorough study abroad budget. Estimating all of your income and expenses beforehand will help you spend within your means. 

3. Make an emergency fund

Be sure to set aside some money in your budget for emergencies. You should keep your emergency fund easily accessible but separate from the cash you spend everyday. If possible, place the money in a savings account with a high annual yield so your fund naturally accrues over time.

4. Find part-time work

Most colleges and universities offer financial assistance for postgraduate students in the form of on-campus part-time employment. Look over these basic guidelines for F-1 student on-campus employment to make sure you qualify.

To best prepare for financial emergencies, transfer part of each paycheck into your emergency fund.

5. Use MPOWER’s financial support

Cover any outstanding expenses with an international student loan from MPOWER. International students often struggle to access private student loans because private lenders require a U.S. cosigner or collateral. Luckily, select education lenders like MPOWER offer no-cosigner, no-collateral loans for students studying abroad on a budget.

MPOWER wants you to be financially empowered. Check out MPOWER’s online resources for more financial empowerment for postgraduate students.

How to deal with financial emergencies as an international student studying abroad on a budget

Even with all the financial planning in the world, you can’t anticipate everything. If you find yourself facing a major unexpected financial emergency, be it a medical issue or natural disaster, here’s how to access emergency funding and employment as an international student studying abroad on a budget:

What is emergency financial assistance for international students?

Emergency financial assistance provides international students with short-term financial support amidst unexpected financial hardships. You can access these funds through your university or through organizations like the Institute of International Education (IIE).

Every fund has different eligibility requirements and different amounts of funding on offer. You’ll have to prove that grave circumstances demand emergency assistance.

Contact your financial aid office to see if emergency financial assistance for postgraduate students exists at your school.

How to apply for economic hardship as an international student:

If your school does not have an emergency fund, you can still apply for economic hardship employment, which allows students studying abroad on a budget to work up to 20 hours a week off-campus while registered as a full-time student.

To secure financial assistance as a postgraduate student through economic hardship employment, you must: 

  1. Schedule a meeting with your ISS center to discuss your circumstances and determine your eligibility.
  2. Provide your ISS counselor with the following documents:
    • Severe hardship request form and personal statement (may vary by school)
    • Transcript
    • F-1 visa page
    • I-20 form
    • Completed I-765 form (an application for employment authorization)
  3. Your ISS counselor will submit your forms and provide you with a new I-20 form, including your employment recommendation.
  4. Send the above documents, as well as your new I-20 and two full-face passport-style photos to the U.S. Citizenship and Immigration Services (USCIS) for review. Confirm your filing location with the USCIS mailing instructions.

Final thoughts: Handling unexpected financial emergencies as an international student studying abroad on a budget

Financial hardship can be scary, but by planning ahead and knowing how to access financial assistance for postgraduate students, you can manage unexpected financial emergencies without sacrificing your education.

For help covering costs at any of MPOWER’s 500+ eligible schools, you can borrow up to US$100,000 with a no-cosigner, no-collateral student loan from MPOWER. All MPOWER customers get automatic access to a U.S. bank account and credit card, helping you develop the financial security you’ll need as a postgraduate student.

To get started with an accessible, fixed-interest rate loan from MPOWER, check your eligibility today.

What to do when your student visa application is denied

What to do when your student visa application is denied

It takes considerable time, money and energy to secure an international student visa for study in the U.S. Receiving a visa application rejection can feel discouraging after months of preparation.

According to the U.S. Department of State, 41% of F-1 international student visa applicants were denied in 2024 –  the highest on record. If you were denied an international student visa, you’ll need to understand the reason for the decision and how to improve your application when you reapply.

5 common reasons for international student visa denials

Although each student’s situation is unique, there are a handful of reasons why student visa applications are typically rejected.

1. No ties to your home country

As a F-1 visa holder, you must demonstrate your intent to leave the U.S. after finishing your academic program. In other words, you must prove you’re not planning on immigrating to the U.S. after completing your studies. This is referenced as INA section 214(b).

To prove your intent to leave the U.S., your application must include evidence you have strong ties to your home country. For example, this might include a marriage license with a spouse or a deed to property that links you back to your homeland.

2. Insufficient financial funding

Another reason a consulate might deny your student visa application is if you didn’t provide sufficient proof of funds. International visa students must have a financial plan to cover school tuition and the cost of living in the U.S. while completing their studies.

In your application, include supporting financial documentation, like bank statements, scholarship or grant awards, and education student loans. If you’re an MPOWER Financing student, the visa support letter is emailed to you for this purpose.

3. Application issues

There are a lot of moving pieces in an international visa application, including the application form itself and any supporting documents you must provide. If your application or documents are incomplete, have errors or false information, this misstep can result in a rejection.

A denied application that references INA section 221(g) means your visa application, or the required supporting documentation, were incomplete. This code reference might also mean the officer reviewing your application couldn’t determine your eligibility, based on your application and needs more time to process it.

4. Institution or academic goals raises red flags

The school or academic plans that you present might be what sets off alarms. If the institution or program you’re enrolled in isn’t accredited, for example, a consulate officer might find reason to reject your application.  

Additionally, being unable to articulate your academic plan or misrepresenting your intentions for studying in the U.S. might raise suspicions and negatively impact your visa application decision.

5. Unsuccessful visa interview

The F-1 student visa interview takes approximately 10 to 15 minutes, but it’s a major factor in whether your application is approved or denied. A common reason international students are denied a visa is because they presented themselves, or their statements, poorly during the interview.

Be prepared to honestly and confidently discuss your study plans, academic background, finances and plans after graduating from school. Also, make sure you’re dressed professionally, arrive on time and maintain appropriate eye contact with your visa officer during the interview.

What to do if a student visa is rejected?

If your international student visa application was denied, consider these next steps.

Identify the reason for the international student visa denial

Generally, if your application is rejected, you can reapply for a student visa by strengthening your application and repeating the same process. This means more of your time and money (you’ll need to pay another application fee).

To improve your application the second time around, make sure you know exactly why your application was rejected. The consulate officer’s decision might have been due to one or more of the reasons listed above.

If, for instance, the rejection was due to insufficient funds to study and live in the U.S. while you’re in school, find additional sources of savings. If you’ve maximized your out-of-pocket savings from home, consider borrowing an education student loan for study abroad. MPOWER Financing has helped more than 20,000 international students fund their postgraduate studies.

Address the issue thoughtfully and swiftly

When reassessing your international visa application, thoroughly gather all new information that substantially addresses the reason for the denial. Be deliberate about making corrections to any issues from your previous application and do so in a timely manner. If you performed poorly in the visa interview, now is the time to practice your statements.

Students with an MPOWER Financing international student loan can access visa application support to strengthen their visa application. MPOWER offers a free visa support letter as evidence of funding. MPOWER also has partnered with the global visa experts Catalyst Gem to provide resources, including mock interview prep and live Q&A sessions with a knowledgeable F-1 visa counselor.

Although there’s no timeline for reapplying for an F-1 visa, certain situations have a deadline. For example, if the reason for the denial was because of missing supporting documentation, you must submit it within one year from the rejection date to avoid having to re-apply and pay another application fee.

Reapply for an international student visa

Unfortunately, if the U.S. consulate rejects your international student visa application, there’s no formal appeals process for reconsideration. If the denial is due to more than just missing or incomplete documentation, you’ll need to re-do and re-submit your application, complete the visa interview, and pay the US$185 application fee.

Tips for improving your application

Keep these helpful tips for getting an F-1 visa, whether it’s you’re a first-time applicant or you’re reapplying:

Going through the international student visa process more than once can feel stressful. Understanding the reason your application was rejected in the first place can empower you to make corrections the next time, if needed.

Postgraduate universities and funding in Illinois

Illinois, located in the heart of the U.S. Midwest, not only boasts gorgeous natural scenery, the vibrant city of Chicago and some of the best academic institutions worldwide, but also hosts the fifth-largest population of international students in the U.S. With an international student loan without a cosigner from MPOWER Financing, students from across the globe can access Illinois’ low cost of living, high quality of life and ample opportunities for educational and professional development.

Wondering if Illinois is the right place for your postgraduate international education? Read on to discover all Illinois has to offer, academically and beyond, and how an MPOWER loan for studying abroad can help you finance your studies in the U.S.

Why study in Illinois with an MPOWER loan for studying abroad? 

Each year, international postgraduate students flock to Illinois. Many choose to study in Chicago for its diversity, world-class cultural and academic institutions and internship opportunities. Outside of Chicago, students enjoy Illinois’ low cost of living and wide range of outdoor recreational activities.

Illinois has a strong economy with key industries in manufacturing, agriculture, life sciences and information technology. In fact, Illinois is among the top 10 states for IT jobs.

Many of Illinois’ universities, such as the University of Chicago, rank among the top in the country – they also, however, have some of the highest tuition fees in the country.

To make an elite education in Illinois possible, consider funding your study abroad with an international student loan without a cosigner from MPOWER. International students can borrow up to US$100,000 with an MPOWER loan for studying abroad. To get a quick, conditional loan offer, check your eligibility today.

At which Illinois university should I study with an MPOWER international student loan without a cosigner? 

You can finance your education with an MPOWER loan for studying abroad at any of MPOWER’s 500+ eligible schools. MPOWER constantly reevaluates and expands its eligible schools list to ensure it includes the best academic institutions in the U.S. and Canada. Here are some of the top MPOWER-eligible schools* in Illinois and their commonly selected majors:

University of Chicago (UChicago) 

One of the best universities nationally, UChicago emphasizes the importance of free speech, diversity of opinion and interdisciplinary thought. International students compose about 24% of UChicago’s student body. UChicago has particularly strong postgraduate programs in:

University of Illinois – Urbana-Champaign (UIUC) 

Located in the charming university town of Urbana-Champaign (voted the best food town in the midwest), UIUC is a large, public research institution committed to creating a high-quality university experience for its students and a positive societal impact on the world. Popular postgraduate programs include:

University of Illinois – Chicago (UIC) 

For a more financially accessible option, international students studying in Illinois with an international student loan without a cosigner should consider UIC. UIC aims to provide the widest range of students possible with a top education. Popular postgraduate programs include:

Funding your Illinois education with loans for studying abroad 

Once you’ve selected your preferred Illinois university, it’s time to determine how to finance your postgraduate degree. Most international students rely on a combination of personal funds, financial aid and student loans for studying abroad.

Financial aid 

Financial aid can be hard to come by for international students studying in the U.S. Most international students are not eligible for federal aid and also struggle to meet the strict eligibility requirements for institutional aid. For instance, though UIUC offers some international student scholarships, they are highly competitive and limited to eligible students.

To reduce your overall expenses, consider exploring on-campus employment, graduate assistantships and externally funded international scholarships. UIC and EducationUSA have compiled lists of scholarships and awards for international students studying in the U.S.

Student loans for study abroad 

If financial aid and personal funds don’t cover the entirety of your study abroad expenses, you can finance the rest of your postgraduate degree with a private international student loan without a cosigner from MPOWER. 

With no required U.S. cosigner, collateral or minimum credit score, MPOWER is a great option for international students without a U.S. credit score. Moreover, by making timely, fixed-interest payments, MPOWER students develop strong credit in the U.S., setting them up for financial success after graduation.

MPOWER students enjoy more than just stable, inflation-proof interest rates and a streamlined loan application process. Every MPOWER student gains access to MPOWER’s Path2Success Program, which offers a range of free visa, financial and career support including a free visa support letter and exclusive visa training, as well as customized job search tools.

To benefit from all MPOWER offers, check out MPOWER’s international student loans without a cosigner today.

Final thoughts: Funding your Illinois education with MPOWER loans for study abroad

From its world-renowned academic institutions to its thriving health and IT industries, Illinois could be the ideal place for you to kickstart your dream postgraduate education and career.

Make that dream a reality with an international student loan without a cosigner from MPOWER. It takes less than a minute to check your eligibility.

 

Get Started

 

*Schools mentioned in this post do not endorse MPOWER’s loans and MPOWER is not affiliated with the schools noted in this message.


*Rates as low as 9.99% (11.16% APR). This interest rate and APR includes a 0.25% discount for automatic recurring payments.

DISCLAIMER – Subject to credit approval, loans are made by Bank of Lake Mills or MPOWER Financing, PBC. Bank of Lake Mills does not have an ownership interest in MPOWER Financing. Neither MPOWER Financing nor Bank of Lake Mills is affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. None of the information contained in this website constitutes a recommendation, solicitation or offer by MPOWER Financing or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.

2025 © MPOWER Financing, Public Benefit Corporation NMLS ID #1233542

U.S. office India office
1101 Connecticut Ave. NW Suite 900, Washington, DC 20036 The Cube at Karle Town Center, 9th Floor, 100 Ft, Nada Prabhu Kempe Gowda Main Road, Next to Nagavara, Bengaluru, Karnataka 560045, India

Apply Now