Foreign Enrolled Loan

Foreign Enrolled Loan

U.S. students can apply for a Study Abroad Loan if they're planning to study abroad for a short period of time like a semester or year.

U.S. students can apply for a Study Abroad Loan if they're planning to study abroad for a short period of time like a semester or year.

Many U.S. students don’t just want to study abroad for a semester or two, they want to complete their entire degree program overseas.

If you’re one of them and plan on enrolling directly at a university abroad, you may soon find that your funding options are much more limited compared to your peers studying in the USA

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With fewer financial aid options, and the potential for exchange rates eating away at the value of a dollar, you may find that you need additional help financing your international college experience.

If you want to study abroad full-time, you should apply for a Foreign Enrolled Loan.

Our comparison tool finds study abroad loans - with reasonable interest rates - that provide complete funding to cover your education costs while studying outside the United States.

Hundreds of foreign schools are approved for Foreign Enrolled Loans. Medical schools, business and law schools, and more! And more schools are approved all the time. Our Student Loan Comparison Tool can show you in under 10 seconds if your school is approved.

There are no application fees or out-of-pocket expenses, and you can apply online. The application process can be completed in 2 weeks or less.

Please note that the offerings from many lenders may have changed due to the impact of the coronavirus outbreak. So please check carefully when you apply for your student loan.

Undergraduate and graduate students can apply for the Foreign Enrolled Loan as long as they meet the federal student aid eligibility requirements and those of the private lender.


Preparing for the Application Process

The most economical way to fund your international education is to borrow as much as you can on Federal Student Loans - so make sure you complete your FAFSA and get your federal funding.

Typically, you will need more financial assistance than is available through the Stafford Loan Program, and if this is the case for you, you can borrow the remaining funds from a private lender.

The Process

The Process

You can use our comparison tool or check our list of eligible schools to see if your chosen school is eligible for a foreign enrolled loan. If your school is listed, you will be matched with lenders that offer loans that meet your requirements.

Checking eligibility takes less than 10 seconds using our tool, and if you’re matched with a lender you can complete the entire process online.

Most lenders will provide initial approval within a few weeks or less.

Cosigner Recommended for All Applicants

Cosigner Recommended for All Applicants

A cosigner is not required for a student loan, but is strongly recommended. There are very few students who have good enough income or credit history to qualify without a cosigner, so we recommend that everyone apply with a cosigner to increase your likelihood of being approved - and obtain a more favorable interest rate based on the creditworthiness (credit history) of your cosigner.

The cosigner must be a U.S. citizen or permanent resident, with a good credit score, income history and who has lived in the USA for the past 2 years.

Your cosigner must be aware that their credit history and score will be reviewed by the lender. Upon the loan's approval, the cosigner's credit history is updated to reflect that they have cosigned on a loan. They will be responsible for payment of the loan should the primary borrower (you) not repay the loan.


Advantages of these loans

  • The loan amount can be up to the total cost of your education as determined by your school (minus any other aid received)
  • Check your eligibility online in less than 10 seconds
  • Apply online and get approval in a few weeks
  • No application fee and no out-of-pocket costs

International Student Loan FAQ

How do I apply?

You can compare lenders and apply for your international student loan right online. Approval of your loan can be as quick as a few weeks. Click here to start your online application.

Who is eligible to apply?

  • U.S. citizens
  • U.S. permanent residents (with appropriate CIS documentation)
  • Citizen of certain Pacific islands (the freely associated states)
  • Eligible non-citizens (with appropriate CIS documentation)

You must be
Enrolled at least part time, in a degree-granting program, at an eligible institution abroad
Participating in a study abroad program that is sponsored or recognized by your eligible home institution in the U.S.
Studying at undergraduate OR graduate level

Do all international schools offer federal financial aid?

No. The school must be accredited by an agency recognized by the U.S. Secretary of Education and be eligible to participate in federal student aid and federal loan programs. Federal financial aid is available only to students attending eligible institutions.

If my school doesn’t participate in the federal program, can I apply for a private student loan instead?

No. Schools must be approved by the Department of Education to offer the private student loans listed above.

How do I start the process?

First, complete and submit the FAFSA. You can fill out the FAFSA online at

We recommend that you use as much federal funding as possible before seeking a private foreign enrolled loan.

You may apply for a private loan at any time, though - whether you have already completed the FAFSA, or if you missed the FAFSA application deadline, or even if you simply chose not to complete the FAFSA.

Begin the loan application process here.

When will my funds be disbursed?

Disbursement dates are set by the school in accordance with federal regulations. The first disbursement date on a federal loan cannot be any earlier than 30 days before the first day of the loan period.

Funds will be disbursed to the school, unless they request otherwise. (Some institutions are required to delay delivery of federal funds to first-year undergraduates who are first-time borrowers.)

Are there any regulations about cashing my student loan checks for study abroad?

International students need to know about important federal regulations affecting the transfer of money abroad. The Currency and Foreign Transactions Reporting Act restricts the total amount of endorsed checks that are transported into or out of the United States. You can find out more at

What is the maximum loan amount I can apply for?

Foreign Enrolled Students can apply for up to the total cost of your international education, minus other aid you are receiving in the form of scholarships etc., as determined by your school. To determine your maximum loan amount, or what can be included in your loan, you should contact your school's financial aid office.

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