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.

 

Check your eligibility

 

Speedy and straightforward funding is available from MPOWER Financing

• Fully online application process: Determine your eligibility in just 30 seconds! Complete your application in less than 30 minutes, all from your device.
• Lightning-fast approvals: If eligible, get an instant conditional offer  and final approval in as few as three business days. Our process involves minimal paperwork, so you can focus on what matters – your studies.
• No cosigner or collateral required: Simplify getting a loan without the need for cosigners, collateral, paper documents or home visits. We believe in making funding accessible with ease.
• Personalized loan amounts: Borrow between US$2,001 and US$100,000. Whether you need a small top-up or a substantial amount, MPOWER accommodates your individual needs.
• Competitive interest rates: Enjoy low fixed rates starting at 9.99% (11.16 APR) with an automatic payment discount. It’s our way of helping you keep costs manageable.

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:

• Eight comprehensive units, including I-20, DS-160 forms, visa fees, interview scheduling and prep
• Tips on discussing your MPOWER Financing loan offer during the visa process
• Sample visa documents and FAQs

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:

• Curated job boards for roles that accept F-1 visa holders
• Resume-building tools and professional development resources
• OPT, CPT and H-1B visa guidance
• Insights into employers who regularly hire international talent
• Support for both STEM and non-STEM career paths

 

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.

 

Apply Now

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:

• On-campus work is allowed up to 20 hours per week during the academic year.
  
• Off-campus work is only allowed through curricular practical training(CPT) or optional practical training (OPT) and must be approved by your Designated School Official (DSO).
  
• Unauthorized work is a violation of your visa and can risk your status.
  

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%)

• Rent and utilities
  
• Insurance (health, renters if required)
  
• Tuition (if paid monthly or per term)
  

Academic expenses (10–15%)

• Textbooks, software, lab fees
  
• Supplies like notebooks, chargers or graphing calculators
  

Daily living (10–15%)

• Groceries, transit, phone plan
  
• Toiletries and basic household items
  

Emergency fund or cushion (5–10%)

• Unexpected travel, medical expenses, job search delays during OPT
  

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:

• Housing
  
• Visa-related fees
  
• Academic expenses
  

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:

• Research your program’s full cost of attendance, including tuition, housing, health insurance, fees and books.
  
• Factor in one-time expenses like travel, visa appointments and housing deposits.
  
• Estimate living costs based on the city you’ll be in – New York and Minneapolis day-to-day expenses are not the same.
  
• Account for delays in optional practical training (OPT) or job start dates, especially if income will be postponed.
  

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:

• Proof of admission
  
• Passport and visa documents
  
• Academic transcripts or test scores
  
• Cost of attendance from your university
  
• Financial documents from your home country

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:

• Pay any existing bills on time, including rent or utilities.
  
• Keep debt levels low in your home country.
  
• Be ready to explain your financial background clearly and honestly.
  

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:

• Do they require a cosigner? If so, do you have someone who qualifies?
  
• Is the interest rate fixed or variable?
• Do they cover living expenses or just tuition?
• Are there fees or penalties for early repayment?
  
• Can you apply online from abroad?
• Do they offer support for job searches, OPT or transitions after graduation?

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:

• Fixed-rate student loans from US$2,001 to US$100,000 total
  
• Coverage for both tuition and living expenses
  
• A fully digital application process you can start from anywhere in the world
  
• No prepayment penalties, hidden fees or collateral requirements
  
• Free access to Path2Success, a platform with resume help, OPT job filters and financial wellness tools
  

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.

Private vs federal loans: Why most international students only have one option

If you’re researching how to finance your postgraduate degree in the U.S., you’ve probably come across advice about comparing federal and private student loans for international students. But here’s the reality: Most international students aren’t eligible for federal loans at all.

That means the typical U.S. financial aid playbook doesn’t apply – and your path to funding will likely look very different than that of domestic students.

So what exactly are the differences between federal and private education loans? And how can you navigate the private loan landscape with more confidence and less risk? Let’s break it down.

Why federal loans are off-limits for most international students

U.S. federal student loans – including Direct Subsidized and Unsubsidized Loans, PLUS Loans and income-based repayment programs – are only available to:

• U.S. citizens
  
• Permanent residents – Green Card holders
  
• Some eligible non-citizens – such as refugees or asylum seekers
  

If you’re on an F-1, J-1 or other temporary visa, you’re not eligible for federal funding. That means you won’t have access to:

• Government-set interest rates
  
• Income-driven repayment plans
  
• Federal deferment or forgiveness options
  
• Financial aid packages related to FAFSA (Free Application for Federal Student Aid)
  

This is why international students often hear “check with private lenders” as the default advice.

What private international student loans offer instead

Private international student loans are offered by banks, financial institutions and mission-driven lenders like MPOWER Financing. Unlike federal loans, they’re not standardized – and that’s both a challenge and an opportunity.

Things to watch for:

• Eligibility requirements vary: Some lenders require a U.S.-based cosigner; others don’t. Some only lend to citizens or residents of specific countries, i.e., locally-based students.
  
• Student loan interest rates may be fixed or variable – and can differ widely based on credit history or lender type.
  
• Loan limits vary by lender and may only cover tuition, not the full cost of attendance.
  
• Repayment terms differ: Some require immediate repayment, while others offer grace periods.
  
• Support and transparency depend on the lender – some are student-friendly, others are profit-driven.
  

Since there’s no centralized system like FAFSA, it’s up to you to research and compare private lenders directly.

What makes one private loan better than another?

Not all private loans for international studentsare created equal. The best one for you depends on your situation and goals.

Here’s what to prioritize as an international student:

• No-cosigner eligibility: If you don’t have family in the U.S. or Canada, make sure the loan doesn’t require one.
  
• Fixed interest rate: This provides inflation-proof predictable monthly payments and protects you from rate increases.
  
• Full cost coverage: Some lenders cap loans at tuition only. Others let you borrow for living expenses and health costs.
  
• No collateral requirement: You shouldn’t have to offer assets to secure a loan.
  
• Support systems: Look for lenders that offer free job-search help, visa guidance or career planning tools.
  
• Transparent terms: The best lenders clearly explain the APR (annual percentage rate), total repayment, including fees, and any potential penalties upfront.
  

This is about more than getting approved – it’s about setting yourself up for success during and after your degree.

A private lender built for international students

Because most international students don’t qualify for federal aid, MPOWER Financing exists to fill the gap with personal education loans designed around your real circumstances – not your credit score or passport.

MPOWER Financing offers:

• No-cosigner private student loans for approved schools and programs in the U.S. and Canada
  
• Loan amounts from US$2,001 to US$100,000
  
• Fixed interest rates and no prepayment penalties
  
• Support beyond the loan, through Path2Success – a platform with free career tools, optional practical training (OPT) job search guidance, planning resources and practical resume advice tailored for students
  
• No collateral or credit history required – just your academic and professional promise
  

If federal loans aren’t an option – and for most international students, they aren’t – MPOWER gives you a way forward that’s designed with your visa status, career plan and financial future in mind.

Focus on what you can control

It’s easy to feel left out of the federal aid system, but personal loans for international students don’t have to be a last resort. With the right lender, they can be a smart, strategic bridge to your next chapter.

Compare carefully. Ask questions. And choose a loan that fits not just your budget, but your goals after graduation.

How to use a loan calculator (correctly) as an international student

Student loan calculators can be incredibly helpful – if you know how to use them. For international students planning to finance education in the U.S. or Canada, these tools offer a first look at what repayment could actually look like after graduation.

But here’s the catch: Most people use them the wrong way.

They either plug in incomplete information or treat the result as a final answer. In reality, a loan calculator is just a starting point – one that depends on what you input, what assumptions you make and how well you understand the numbers behind the result.

Here’s how to use a loan calculator the right way – and how to make sure it helps you plan smarter, not just feel more confused.

What a student loan calculator actually tells you

A loan calculator estimates how much you’ll pay per month based on key variables:

• Loan amount: How much you’re borrowing
  
• Student loan interest rate: The percentage charged on the loan annually
  
• Loan term: How many years you’ll take to pay it back
  
• Repayment structure: Whether you’re paying interest while in school or deferring until after graduation
  
• Fees or discounts: Some calculators include origination fees or auto pay interest rate reductions
  

The output that contains the cost of student loans usually includes:

• Your monthly payment
  
• The total amount you’ll repay over time
  
• The total interest paid
  

But that only matters if the numbers you enter are realistic – and relevant to your visa timeline, employment prospects and academic path.

Mistakes international students often make when using loan calculators

1. Using a low-ball interest rate
Lenders may advertise “rates as low as…” but your personal offer may differ. Always use the likely rate you’ll receive, not the best-case marketing number. Also, check if the interest rate is fixed or variable – variable will lead to changes in your monthly and overall payment.

2. Leaving out fees
Some student loan types have origination or processing fees that affect your overall loan amount. If the calculator doesn’t ask, add those to your loan total manually.

3. Assuming immediate full-time income
If you’re using optional practical training (OPT) or looking for a job after graduation, it may take time before you earn enough to afford full payments. Plan for a grace period – or adjust your start date accordingly.

4. Ignoring exchange rates or country-specific repayment realities
If you plan to return home and repay in a different currency, factor in conversion risk. Even slight shifts can affect affordability.

5. Thinking the monthly payment is the full story
It’s not just what you owe each month – it’s how long you’ll owe it and how much you’ll pay in total. Always look at total interest paid, not just the monthly line.

How to use a calculator to plan for real life

Treat a loan calculator like a decision tool, not a scoreboard. Here’s how to use it well:

• Run multiple scenarios: What happens if your interest rate is 1% higher? What if you take a year longer to repay?
  
• Compare different repayment structures: Some private loans for international students allow interest-only payments during school; others defer everything. Model both options, as deferral looks attractive but can cost you a lot over the life of the loan.
  
• Estimate a realistic salary after graduation using tools like Glassdoor or PayScale for your field and region.
  
• Add up all education-related costs, including living expenses and visa fees, to calculate your true borrowing needs – not just tuition.
  

Finally, check whether your lender’s calculator is built for international students. Generic tools may not reflect visa grace periods, OPT timelines or repayment pause options.

Need help making sense of the numbers? MPOWER Financing can support the process

As an international student, you don’t just need a loan – you need a private education loan lender that understands your full financial picture and offers clarity every step of the way.

Here’s how MPOWER Financing supports smarter personal education loanplanning:

• Fixed-rate student loans between US$2,001 and US$100,000 with no hidden fees or cosigner requirement
  
• Transparent documentation, so you understand the full repayment structure up front
  
• Dedicated support teams that can walk you through interest rates, repayment options and budgeting scenarios
  
• Career planning tools through Path2Success, helping you identify internships and jobs available to F-1 students and align job outcomes and income expectations with repayment

Get clarity before you commit

A student loan calculator isn’t about seeing what you can afford – it’s about understanding the commitments you’re making before you sign. Used correctly, it helps you ask smarter questions, spot future challenges and avoid overborrowing.

Take the time to plug in numbers that reflect your life, not someone else’s. Then, make decisions with your eyes wide open – so your degree leads to opportunity, not overwhelm.

How to spot a predatory lender: Red flags for international students

When you’re navigating international tuition costs, international student visa logistics and deadlines from another country, it’s easy to feel overwhelmed – and that’s exactly what some lenders exploit.

Predatory student loan providers often target international students who are unfamiliar with U.S. or Canadian financial systems. Their tactics can seem helpful on the surface, but beneath the fine print lie aggressive terms, vague promises and long-term financial risk.

Knowing how to recognize predatory behavior can help you protect your education and future earnings. Here’s what to look for – before you sign anything.

Why international students are targeted

Unlike domestic students, international students often:

• Lack access to U.S. government-backed loans or aid
  
• Don’t have U.S./Canadian credit history
  
• Need quick funding due to visa or enrollment deadlines
  
• May not fully understand how interest, penalties or repayment terms work in a new system
  
• Feel pressure to accept “any offer” just to secure enrollment
  

This makes international students an attractive target for lenders who use urgency, confusion or misleading incentives to get students to agree to unfavorable terms. Many of these bad actors aren’t part of reputable private education loan lenders, so be vigilant.

Red flags that signal a lender isn’t trustworthy

Be especially cautious if a lender does any of the following:

1. Avoids providing a clear APR
If a lender only advertises a “monthly payment” or base interest rate without explaining the Annual Percentage Rate (APR), they may be hiding the true cost. APR includes fees and shows what you’ll really pay over time.

2. Pressures you to accept immediately
Reputable lenders give you time to read the contract and ask questions. High-pressure tactics like “sign by tonight or lose your offer” are a red flag.

3. Charges steep upfront fees
Some fees are legitimate (like small processing costs), but large upfront charges before disbursement can indicate a scam. No legitimate lender should ask for money just to “hold your loan.”

4. Offers vague or changing terms
If the interest rate, repayment schedule or loan amount keeps changing during the process, stop. You should have a written offer that doesn’t shift based on verbal promises. These tactics often trap those seeking no-cosigner private student loans, because students feel they have no other choice.

5. Makes misleading claims about job placement or visa sponsorship
Some bad actors advertise “guaranteed job outcomes” or claim their loan includes visa help or employment – without backing it up. A loan is not a job offer.

6. Offers loans without verifying your school, enrollment or visa
If a lender is willing to lend large amounts without checking your academic program or student visa status, it’s not a sign of generosity – it’s a setup for aggressive collection later.

7. Doesn’t allow early repayment without penalty
You should be able to pay off your loan early without extra charges. If there are prepayment penalties, it’s a sign the lender profits from dragging repayment out.

8. Has no clear customer support or disclosures
If it’s hard to reach a real person, there’s no transparency about who owns the loan or you can’t find licensing information, walk away.

How to vet a lender (especially from abroad)

Before accepting any offer:

• Read the entire agreement, not just the summary.
  
• Ask your university’s international office or financial aid office if they’re familiar with the lender.
  
• Look up lender reviews from other international students – Reddit, Trustpilot and student forums can offer honest insights.
  
• Ask specific questions:
  

• • Is the interest rate fixed or variable?
    
  • Are there applications, insurance or other fees?
    
  • Can I pay early without penalties?
    
  • What happens if I lose my visa or leave the country?
    
  • What are the grace periods and default policies?
    

 

Reputable lenders welcome these questions. Predatory ones dodge them.

Choosing a lender that puts transparency first

International students shouldn’t have to choose between funding and fairness. MPOWER Financing offers an alternative to traditional models by focusing on:

• No-cosigner student loansdesigned for international students
  
• Fixed interest rates and zero hidden fees
  
• Full coverage of tuition and living expenses in the U.S., all university-invoiced expenses in Canada, with no collateral required
  
• An application process that evaluates students based on their future potential, not financial background
  
• Clear, documented terms – and access to real humans when you have questions
  
• Career tools through Path2Success, including free job-search resources and visa timeline planning
  

MPOWER Financing also shares all terms upfront, allows early repayment without penalties and offers support in multiple languages. If transparency, accessibility and support aren’t part of a lender’s platform, that’s your sign to look elsewhere.

When in doubt, step back – then ask for help

Predatory lenders rely on panic and pressure. Your best defense is taking a breath, reading the fine print and remembering that urgent funding today should never cost you long-term security tomorrow.

For those researching international postgraduate scholarships or international student loan options, take the time to vet them as thoroughly as you would any lender.

Talk to your school. Ask other international students what they’ve done. And know that you have options designed for people just like you.

How to compare international student loans: What most people overlook

When you’re an international student planning to study in the U.S. or Canada, finding the right loan can feel like comparing puzzle pieces from different boxes. The interest rates may be front and center – but they’re just one part of the picture.

What really separates one private international student loan from another isn’t always obvious. Cosigner rules, application speed, support services and repayment flexibility can matter just as much – sometimes more – than the advertised numbers.

This article breaks down what to actually look for when comparing loans, especially if you’re applying from abroad and planning for life after graduation.

Go beyond interest rates: The real questions to ask

Lenders love to showcase their interest rates – but make sure you’re comparing apples to apples. Ask:

• Is the interest rate fixed or variable? Fixed rate student loans are inflation-proof and provide predictable payments. Variable interest rates could spike.
  
• What’s the APR (annual percentage rate), not just the base rate? APR includes fees and gives you the true annualized cost of the loan.
  
• Does the lender offer interest rate discounts for auto pay or academic milestones?
  
• What are the origination or processing fees, and are there fees for insurance and are they clearly stated?
  

Hidden requirements that can limit your options

One of the most overlooked aspects of private loans for international students is what you need to qualify for a loan – beyond the form itself.

Before you apply, check:

• Do you need a cosigner? Most U.S. lenders do. If you don’t have one, narrow your list to no-cosigner options.
  
• Do you need a local credit score or collateral? If you just arrived in the U.S. or Canada, that may be impossible, so you should look for lenders that don’t require these items.
  
• Is your school and degree program eligible? Some lenders only work with specific universities or programs.
  
• Does your lender fund living expenses or just tuition? That matters if you’re planning for rent, groceries or job search costs.
  
• How long does the application process take? If your tuition deadline is soon, speed matters.
  

Personal education loans with fewer requirements may come with slightly higher interest rates – but offer more freedom and fewer barriers to approval.

What flexibility looks like (and why it matters)

It’s not just about getting the loan – it’s about how it works once you have it.

Look for lenders that:

• Allow early repayment with no penalties
• Provide options to pause payments in case of financial hardship
  
• Support international students during transitions like curricular practical training (CPT), optional practical training (OPT) or job delays
  
• Have clear, student-friendly support when you need help
  

Also worth asking: Can you manage the loan online from abroad? Can you pay “interest-only” payments while in school to reduce the amount you are financing?

These details often determine how stressful – or smooth – your loan experience will be.

A better approach for students comparing across borders

MPOWER Financing was designed specifically to meet the needs of international postgraduate students. Unlike traditional lenders, MPOWER focuses on your future potential – not your credit history or a cosigner’s income.

If you’re comparing loans, here’s where MPOWER stands out:

• No cosigner or collateral required
  
• Fixed interest rates that are inflation-proof with loan amounts between US$2,001 and US$100,000
  
• Covers tuition and living expenses in the U.S.; all university-invoiced expenses in Canada
  
• Fast, 100% online application with quick eligibility checks
  
• Access to Path2Success, a free platform with job search tools, resume builders and career prep support
  
• Designed to work with students on an F-1 visa in approved degree programs in the U.S. and Canada
  

For international students who need flexible, realistic funding – and don’t want to depend on others – MPOWER Financing offers clarity and control.

Don’t just compare rates. Compare reality.

Choosing an international student loan is about more than math – it’s about what fits your life, your timeline and your future. Interest rates matter, but so do requirements, freedom and how the lender treats you once the contract is signed.

Students also need to consider education loan financing options that match not only tuition, but the full range of real-world costs.

Ask deeper questions. Look for student loan lenders that work for international students, not just around them. And build a plan that helps you not only fund your education – but move forward with confidence after graduation.

Hidden costs of studying abroad in the U.S. (And how to budget for them)

If you’re preparing to study overseas in the U.S., you’ve probably already looked up your tuition, housing and health insurance costs. But what about the less obvious expenses – the ones that don’t show up on the admissions page but can quietly stretch your budget thin?

For many international students, the true cost of studying abroad only becomes clear after arriving. And by then, it’s often too late to adjust.

Planning for the hidden costs of a U.S. education can make the difference between staying on track – or constantly playing financial catch-up. Here’s what to watch for and how to build a realistic budget that works beyond tuition.

What your tuition bill doesn’t include

Even if your tuition is fixed and predictable, your total cost of attendance is not. These are some of the most common expenses international students underestimate or overlook:

Visa and immigration fees
From SEVIS (Student and Exchange Visitor Information System) fees to student visa appointments and travel to your nearest embassy, you could spend several hundred dollars just to get your paperwork approved.

Relocation and setup costs
Flights, airport transport, bedding, groceries, SIM cards and laptops – your first month can easily cost US$1,000–US$2,000 before you even start classes.

Technology and software
Many programs require specific laptops, software licenses or lab fees. Engineering, architecture or design students may face higher tech-related expenses.

Academic extras
Expect costs for books, lab materials, printing and sometimes required fieldwork or conference travel. These costs often aren’t covered by tuition or scholarships.

Professional development
Suiting up for interviews, traveling to networking events or attending conferences can add up fast – especially if you’re looking for a competitive internship or optional practical training (OPT)  opportunity.

Healthcare gaps
Even with university insurance, you may face co-pays, uncovered services or high costs for dental and vision care. A simple ER visit can run hundreds of dollars out-of-pocket.

Unpaid internships or job delays
If your internship is unpaid or your OPT takes time to process, you may have months where you’re in the country – but without income.

These realities often push students to consider student loans for foreign students to cover true costs, not just tuition.

Budgeting realistically (and proactively)

To avoid financial stress later, you’ll need to move beyond “survive mode” budgeting for college students and think like a planner. Here’s how:

• Create a line-by-line budget for your first six months, including everything from groceries to security deposits.
  
• Build in a monthly buffer for surprise expenses – US$100–US$200 is a good target.
  
• Use average prices for your city – not national estimates. Living in New York is very different from living in Iowa.
  
• Ask your university if there’s an estimated “cost of attendance” breakdown beyond just tuition.
• Map out OPT timelines so you know when income might pause or start late after graduation.

For these gaps, exploring private international student loans can bridge the difference between “just enough” and “enough to thrive.”

Financial tools that fill the gap

Even the best-laid budgets can fall short when an internship opportunity pops up in another city, or when unexpected health or tech expenses hit mid-semester. That’s where flexible funding can help – without derailing your education plans.

MPOWER Financing supports international students with:

• No-cosigner student loans for approved U.S. and Canadian universities
  
• International student loan amounts from US$2,001 to US$100,000, covering not just tuition but also living and academic expenses in the U.S. and all university-invoiced expenses in Canada
  
• Path2Success, a free support platform with tools to help you job search, budget for OPT and navigate career transitions
  
• Fixed, inflation-proof interest rates and no hidden fees, so you can plan with clarity
  

You can also combine MPOWER loans with international scholarships or part-time income – giving you more freedom to handle unplanned costs while focusing on what matters most: your studies.

Studying smart means budgeting smart

A master’s degree abroad is one of the most powerful investments you can make – but it’s not just about tuition. It’s about managing the full picture of student life: visas, health, tech, travel, career and daily living.

Because success abroad isn’t just about getting in – it’s about having the financial space to thrive once you arrive.

Can’t find a cosigner? Here’s how to still secure an education loan

For many international students, getting accepted into a U.S. or Canadian university is only half the battle. The next hurdle? Figuring out how to pay for it – especially if you don’t have a U.S.-based cosigner.

Traditional private lenders often require a cosigner with local credit history, income or collateral. But that’s a deal-breaker for most international applicants, whose families are abroad and unfamiliar with North American financial systems. It’s a frustrating barrier – and one that stops thousands of students from enrolling each year.

But there’s good news: Securing a private student loan without a cosigner is possible. You just need to know which options are designed for your situation, and what lenders actually look for beyond a credit score.

Why cosigners are a sticking point for international students

Most private lenders in the U.S. and Canada rely heavily on credit scores, debt-to-income ratios and other financial indicators to decide who qualifies for loans. Since international students often have no local credit history, lenders require a cosigner – someone who agrees to repay the loan if you can’t.

But here’s the problem:

• Most international students don’t have close family or friends in the U.S. or Canada.
  
• Even if they do, few people are willing (or able) to take on the legal risk of cosigning.
  
• The cosigner requirement adds stress, delays applications or blocks enrollment altogether.

These highlight the importance of international student loan company options that focus on your future, not your current credit. This challenge isn’t about motivation – it’s about access. And that’s where alternative lending models come in.

What lenders look for when you don’t have a cosigner

Lenders that work with international students take a different approach. Instead of requiring someone else’s credit profile, they assess your future potential.

That means they may evaluate:

• Your university and degree program
  
• Whether your degree leads to high employability (e.g., STEM, MBA, public health)
  
• Your academic record and financial need
  
• Your current visa and enrollment status
  
• Your estimated earning potential after graduation
  

In this model, education loans without cosigner options become realistic paths forward, focusing on your potential, not just your past.

Types of no-cosigner loan options worth exploring

If you’re struggling to find a cosigner, here are some alternatives to consider:

1. Purpose-built international student lenders
These companies specialize in funding students without U.S. or Canadian financial history. They often partner directly with universities and work across multiple countries. MPOWER Financing is a leading education loan lender, with loans that cover tuition and, in the U.S., living expenses, too – no cosigner, no collateral required.

2. Government or development bank programs
Some students may qualify for home-country scholarships or loan programs through their government or central bank. These can sometimes be used abroad, but usually require returning home after graduation.

3. University-based aid
While rare, some universities offer no-cosigner institutional loans for international university students. These are typically small and require strong academic performance or departmental nomination.

4. Hybrid approaches
Some students combine scholarships for international students, savings and small no-cosigner loans to bridge the gap. It’s not always about one perfect solution – it’s about combining smart resources together.

A better path to funding for students without local financial support

MPOWER Financing was created specifically for international and DACA students who don’t have access to traditional loan systems. MPOWER’s no-cosigner student loans are available to international students attending over 500 approved schools in the U.S. and Canada – and focus on your future potential, not your current credit profile.

With MPOWER personal student loans without a cosigner, international students can:

• Borrow US$2,001 to US$100,000 to cover tuition, housing and insurance.
  
• Lock in fixed inflation-proof interest rates with no hidden fees.
  
• Access Path2Success, a free career support platform with job tools, student visa guidance and resume prep.
  
• Apply entirely online, with decisions based on academic and professional promise – not financial backing.
  

For international students without cosigners, MPOWER Financing offers more than international funding – it offers entry into a system that was created with you in mind.

You don’t need a cosigner to move forward

It’s easy to feel stuck when a cosigner stands between you and your degree. But the truth is, you’re not out of options – you just need to pivot to solutions designed for international students.

By exploring the right lenders, using future-focused criteria and asking the right questions early, you can find a way forward that works for your goals – and gets you one step closer to the classroom.

Cosigner or no cosigner? What you really need to know before taking a loan

For international students, getting a student loan is never just about money – it’s about trust, timing and future risk. And one of the biggest questions that comes up during the process is: should you find a cosigner or go without one?

In theory, having a cosigner can improve your loan terms. In practice, it introduces legal, financial and emotional complexities – especially if you’re far from home, don’t have a strong network in the U.S. or Canada or aren’t sure what the future holds.

This article breaks down what you really need to know before deciding whether to apply for a loan with or without a cosigner – and what your options are either way.

What a cosigner actually does (and why lenders want one)

When a lender asks for a cosigner, they’re looking for someone to guarantee that your loan will be repaid – even if you can’t. It’s a way for the lender to reduce risk, especially if:

• You don’t have a U.S. or Canadian credit history.
  
• You’re new to the country and haven’t held steady employment.
  
• You’re pursuing a field of study with unclear earning potential.
  
• You’re borrowing a large amount for tuition and living expenses.
  

For many domestic students, a parent or close family member steps in. But for international students, finding someone who lives in the country, has strong credit and is willing to take on this responsibility is often unrealistic. This challenge is why no-cosigner private student loans have become increasingly important for international students.

The benefits and tradeoffs of using a cosigner

If you do have access to a qualified cosigner, there are a few potential advantages:

• Lower interest rates
  
• Higher likelihood of loan approval
  
• Potential access to a wider range of lenders

But the tradeoffs are significant:

• Your cosigner is legally responsible for the loan if you default.
  
• Missed payments can damage both your credit and theirs.
  
• Cosigner relationships can become strained, especially if expectations aren’t clear.
  
• Cosigner release (removing them later) is rare and difficult.
  

In short: A cosigner can unlock better terms – but having one also creates shared risk. If you’re not confident in your ability to repay, or if you don’t want to put someone else in a vulnerable position, it may not be the right path.

What if you don’t have a cosigner?

Not having a cosigner used to be a major obstacle. Today, more funding options exist specifically for students in your position. Lenders like MPOWER Financing offer loans for students without a cosigner based on academic merit, school enrollment and future potential – not credit history or collateral.

These international student loans for African students and other global learners make it easier to study abroad without leaning on family or friends back home.

The no-cosigner lending model avoids the cosigner stress altogether while still offering a realistic way to fund your education. Just make sure to:

• Confirm your school and program are eligible.
  
• Understand your total cost of borrowing, including interest.
  
• Build a repayment plan that aligns with your postgrad income and visa plans.
  
• Use the lender’s resources to prepare for internships or optional practical training (OPT)  opportunities early.

How to make the smartest decision for your future

There’s no one-size-fits-all answer to the cosigner question. Instead, ask yourself:

• Do I have someone who is both eligible and comfortable cosigning?
  
• Can I get a private international student loan with reasonable terms without one?
  
• How confident am I in my ability to repay based on my degree and career plans?
  
• Will I feel more freedom – or more pressure – if someone else is on the hook for my loan?
  

Whether you have a cosigner or choose personal student loans without a cosigner, take time to fully understand the long-term implications. Your education is an investment, and how you fund it will shape more than just your finances – it may also shape your relationships and your options after graduation.

A better alternative for international students without a safety net

For students who want to move forward without tying someone else to their loan, MPOWER Financing offers a different kind of solution. Designed specifically for international postgraduate students, MPOWER provides:

• No-cosigner, no-collateral student loans for approved universities in the U.S. and Canada
  
• Fixed interest inflation-proof rates with flexible amounts (US$2,001 to US$100,000 total)
  
• A 100% online application focused on your potential, not your credit file
  
• Access to Path2Success, a career support platform that helps you maximize your job prospects after graduation

For students who can’t – or prefer not to – ask someone to cosign, MPOWER removes that barrier while offering a clear path to fund your postgraduate education.