The total cost of pursuing a degree (tuition combined with all other expenses) in these countries can cost as much as US$70,000 each year, and international students usually aren’t eligible for federal financial aid from the U.S. or Canadian governments.
The good news is there are a number of options available to you when studying overseas, including international student loans for African students. In this brief introduction, we’ll look at the cost of studying abroad in North America, what financing options might be available and how best to research international student loans for African students.
The cost of studying abroad in the U.S. or Canada
Colleges and universities in the U.S. and Canada are among the best in the world. So, as you might expect, the cost of studying at these institutions can be pretty high. Of course, where you choose to study can make a big difference in the cost of your international education. Tuition and fees at private colleges and universities in major cities are likely much higher than the cost of studying at public universities, state colleges and community colleges in smaller towns.
The cost to study in the U.S. or Canada will include:
- Tuition: Tuition will be your main expense and may run as high as US$50,000 and CAD$30,000 per year.
- Room and board: Room and board includes living in an on-campus dorm or an off-campus apartment, plus a meal plan or cost of groceries. These expenses may be as high as US$25,000.
- Fees: Most institutions charge fees that total as much as several thousand dollars over the course of a typical four-year degree program. These often include student activity fees, residence hall fees, new student fees and even international student fees to cover the cost of orientation.
- Books and supplies: Textbooks and supplies such as backpacks and scientific calculators may be as much as US$1,500 per semester.
- Transportation: The cost of transportation usually includes a parking permit for campus or a pass for local buses and subways. Campus parking passes can often cost US$100 to $500 per year, and local public transportation can cost students anywhere from US$50 to $100 per month for transit passes in major cities. In smaller cities or towns, the cost could be lower.

Types of aid available to African students
As an African student studying in North America, you won’t be eligible for subsidized federal loans from the U.S. or Canadian government. Like many international students, you may be relying on personal savings and help from your family to support your education. However, if these funds don’t cover all the costs of studying abroad, you may be eligible for several types of international student loans for African students.
Loans with a cosigner
Many banks and student loan lenders offer loans to students who have a cosigner. In the U.S. for example, a cosigner must be a U.S. citizen or permanent resident with a good credit history and stable income. Cosigners are responsible for covering your loan payments if you’re unable to make them yourself. It’s a big responsibility, which is why most cosigners are family members or family friends.
Loans without a cosigner
If you don’t have friends or family in North America who can serve as a cosigner, there are options for an education loan without a cosigner. International student loans for African students without a cosigner are available from a number of lenders. When making loans without a cosigner, lenders will consider your career path and academic success instead of relying on a your a cosigner’s credit history. Lenders may also consider your home country, the school you want to study at and when you plan to graduate.

Where to find international student loans for African students
To quickly find the best options for international student loans for African students, try entering your information into the International Student Loan Comparison Tool. After providing details about your home country, where you want to study and whether you have a cosigner, you’ll get a list of options for private international student loans you may be eligible for. This helpful student loan comparison tool also provides details about each lender and makes it easy to quickly apply to the lender that seems best for you.
The great thing about the comparison tool is that it does all the initial research for you, so you can spend time reviewing a short list of lenders and loans for which you’re most likely to be eligible.

No-cosigner student loans
Discover international student loans that don’t require a cosigner. Our loan comparison tool can help you find a lender that offers the best option for you.
Learn MoreHow to apply for international student loans
Whether you’re looking for Nigeria student loans, Ghana student loans or loans for students from other African countries, the application process is often pretty straightforward – depending on the lender.
- Check your eligibility: Use the Comparison Tool to find companies that provide loans that meet your needs.
- Complete an application: In addition to providing information about yourself, you may be asked for documents that include:
- Proof of identification
- Proof of residence
- Academic records
- Valid passport and visa
- Proof of admission to your university
- A list of any extracurricular certificates, if relevant
- Provide cosigner information: If you’re applying for international student loans for African students with a cosigner, your cosigner will need to provide proof of identification, proof of residence and proof of income.
After the lender reviews and approves your application, they’ll let you know about the student loan interest rate and repayment terms. If you agree to the terms, your loan will be approved and funds will be disbursed to your school, usually within six weeks. Keep in mind that every lender will have a different application process so it’s important to stay in contact with them throughout the entire journey.
International Student Loan: Invaluable information for foreign students
At International Student Loan, we understand how challenging it is for African students and other international students to navigate the financial options to study in the U.S. or Canada. That’s why, since 1998, we have worked hard to simplify this journey. From articles and blogs on our website to our International Student Loan Comparison Tool, we offer resources designed to help you find the best options to make your dream of studying abroad a reality.

Find my international student loan
Our loan comparison tool can help you find an international student loan that’s right for you.
Find My LoanFAQs
What expenses are covered by international student loans for African students?
Your student loan will typically cover most school-related expenses. These may include tuition, room and board, books, transportation and other costs of education. However, the kinds of expenses that your loan can be used for vary by lender. Make sure to familiarize yourself with what expenses your lender’s loan can cover!
How much money can African students borrow?
International student loans for African students usually allow individuals to borrow an amount equal to the cost of all school expenses, less any other financial aid, grants or scholarships you receive.
How can I find a cosigner?
Most international students ask family members or friends who live in the United States or Canada to be a cosigner.
What determines the interest rate on international student loans?
Interest rates on international student loans for African students depend on several factors:
- Credit scores: Both the student's and any cosigner's credit scores are fundamental.
- Market conditions: Economic trends significantly influence loan rates.
- Loan terms: Longer terms or larger loan amounts often mean higher rates.
- Educational factors: The chosen educational institution and field of study can affect rates, with prestigious programs often securing better terms.
- Geopolitical stability: The economic and political stability of a student’s home and host country can impact rates.
- Income and employment: Stable income and solid employment history can lead to more favorable rates.
These elements combine to determine the risk level and the corresponding interest rate for the loan.

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