International Student Loan FAQ
Frequently Asked Questions about International Student Loans
International Student Loans
How do I apply for a student loan?
You can compare lenders and apply right online. Instant approval of your
loan can be as quick as a few weeks. Click here to
start your loan application.
Who is eligible to apply for international student loans?
- Students who are not U.S. citizens or permanent residents and who are attending an eligible U.S. college or
- Borrowers are almost always required to have a creditworthy cosigner who is a U.S. citizen or a non-citizen
permanent resident. We encourage you to use our loan comparison tool to see which loans you are eligible for.
What loans are available?
We have designed the first ever international student loan comparison tool that will match you with lenders based on
your needs. Simply complete a quick application and we will match you with all of the available lenders. To see
which loans work for you, check out our international student loan comparison tool. With these loan options,
students can borrow up to the full cost of their education, minus other aid received. Our loans help students save
money, build good credit, and pay off their student loan faster.
What can international student loans be used for?
International student loans, like all private education loans, can be used for education-related expenses including
such things as tuition, books, fees, insurance, transportation, room and board and other school-related
What is the maximum loan amount that I can apply for?
You can apply for up to the total cost of education, minus other aid, as determined by your school. To determine your
maximum loan amount, or what can be included in your loan, you will need to contact your school's financial aid
office. After you apply and receive credit approval, your school must certify the amount of the loan..
I'm a non-US citizen nor a US-permanent resident studying in a destination outside the US, am I eligible for a
Unfortunately, our loan programs are for international students from anywhere in the world studying in the United
States, or for US students studying abroad. We do not currently have a program for international students studying
elsewhere in the world, even with a US co-signer.
What if no lenders appear on my comparison tool?
Unfortunately if there are no lenders that appear after you do the comparison tool, then we do not have a loan
program for the school. Our best advice is to contact your school, as they should know if there are any loan
programs available to their international students.
When I take out a student loan, how much do I pay back and when?
The interest rate and repayment will depend on the loan option and lender you select. After you select the loan
that works best for you, you will need to review the terms or contact the lender directly with your questions. If
your loan requires a cosigner the interest rate is calculated based on an index plus a margin that will add an
additional percentage interest rate depending on your cosigner's creditworthiness. Based on their creditworthiness,
an additional interest rate will be added to the index which will be the total interest rate you owe and at that
point you can determine whether you'd like to proceed. Every lender's range varies so it is important to do the
loan comparison and review the interest rate and repayment terms.
What if I do not have a co-signer? What if my co-signer is a non-US citizen? Or, how can I find a co-signer?
A co-signer is required for almost all international student loan programs. The co-signer must be a US citizen or
US permanent resident, with good credit, who has lived in the US for the past two years. Non-US citizens or non-US
permanent residents cannot act as a cosigner. Although we are not able to assist with finding a co-signer, it is
common to ask close friends or family members. Students attending select colleges and universities and who meet
specific criteria are able to apply for a loan without a cosigner. If you do not have a cosigner you will want to
see if you're eligible for a no-cosigner loan by using our international student loan comparison tool.
Can I apply for an international student loan before being accepted to my school?
While you can begin the loan application prior to being accepted to your school, you will need to be accepted with
your student visa to finalize the loan.
What if I need to show proof of funds before I obtain a visa? Can I show this loan as satisfying this
Some students are able to use loan approval as proof of funds, but it's not easy and it's up to
the school and consular officer if they'll accept a loan approval as proper funds. You would need to apply for the
loan now, list the school you plan to attend, get initially approved, then use that initial approval to complete
your acceptance to the school.
I need proof of funds before I can enroll, can I use loans?
Typically you need to be admitted and enrolled, and have your visa, in order to apply. Some students are able to use
loan approval as proof of funds, but its not easy and its up to the school and consular officer if they'll accept a
loan approval as proper funds. You would need to apply for the loan now, list the school you plan to attend, get
initially approved, then use that initial approval to complete your acceptance to the school.
You will also have to provide a valid student visa in order to finalize the loan. After you apply and receive credit
approval, your school must certify the amount of the loan. The proceeds are then disbursed directly to the school.
My school is not on the list, can I still get a loan?
If your school does not appear on our eligible school list, then we unfortunately do not have a loan program for you.
We recommend contacting your school directly as they may know if there are any loan programs available to their
Are there application deadlines?
No. You may apply for an International Student Loan at any time.
If I obtained a loan last year, can I get another loan again this year?
Yes. You can reapply each academic term for a loan.
What is an International Student Loan?
Federal student loans are popular with US students in the USA, but they are not available to international students.
International Student Loans are specialized private education loans that are available for international students
who are studying in the USA. International students will have to apply with a qualified co-signer most of the time
and should only apply for international student loans after exhausting all scholarships, personal funds and other
options. If you're not able to find a cosigner keep in mind that loans without a cosigner are available to students
at select colleges and universities.
Lenders that require you to have a cosigner will typically give better terms for better credit history, so when you
apply find a co-signer with the best credit history to improve your rates and fees.