US Cosigner for International Student Loans
January 18th, 2014 by Jennifer Frankel

conversation93127168All private international student loans in the US do require a US cosigner. You may be asking yourself, why? I’m from another country and don’t know anyone in the United States. These student loans are what we refer to as non-collateral loans meaning that you are not putting up a house, car, or other assets to back the loan in case you are unable to repay it.

Because there is no asset backing up your international student loan, lenders require you to have someone in the US with a good credit background to sign on to your application and accept financial responsibility in case of default.

Your Cosigner

To help you fund your US education, you first need to know the qualifications of a cosigner:

  1. US citizen or US permanent resident (green card holder)
  2. Lived in the US for the past 2 years
  3. Age 18 years or older
  4. Good credit history that reflects a history of borrowing, charging and repaying with little to no delayed payments (this is reflected on the credit report)
  5. No delinquencies or bankruptcies pending, filed or discharged in the past two years

Finding your cosigner

We get a lot of questions about finding a US cosigner for international student loans. Here are some tips on how to find a cosigner:

  • Relative – Your family members should be your first stop in trying to find a cosigner. It could be a parent or a long lost third removed cousin. As long as they meet the requirements listed above, then you’ll be in good shape.
  • Friends – You may not know any family members with ties in the US – but you may have friends there! Talk to your friends, and your family member’s friends, and see if they can cosign your loan.
  • Networking – So if you still need help, then you’ll need to ask your friends and family members if they know someone in the US who could help cosign the loan. This may require you talking to family members about their social network – but it’s worth a try!

Remember, not just anyone will cosigner a loan. It’s a huge responsibility as that person is signing onto the contract and is then financially responsible for thousands of dollars in case you cannot pay it back. This can not only put a hole in their pocket, but it can also hurt their credit if they’re unable to pay it back. When you talk to family and friends, be sure to acknowledge this huge undertaking for the success of your US education!

19 Comments

  1. JOSEPH OURE says:

    It will be prudent to also assist the student who cannot get cosigner like me and have thirst of education but is less-fortunate

  2. Tobi says:

    Please can i get a loan, if i have a cosigner in the U.S but my school is an American School in the Carribbeans.

    • Jennifer Frankel says:

      Hi Tobi, to be eligible for these loans you would need to be a US citizens studying in an approved school overseas or a non-US citizen studying in an approved US school. Review the eligible schools here.

  3. Sara says:

    Are international loans available for the caribbean medical schools?

    • Jennifer Frankel says:

      Hi Sara, at this time our international student loans will not work for Caribbean medial schools. I suggest contacting your school to see if they have any recommendations on lenders.

  4. Melistick says:

    Please can i get a loan if my relative is a citizen of canada and lives in canada?

    • Jennifer Frankel says:

      Hi Melistick – thanks for your inquiry. Unfortunately you would need a cosigner who is a US citizen or green card holder who has lived in the US the last two years, with good credit.

  5. Ari says:

    Seriously unless if its an actual family member who would cosign and risk their credits? Credit score is a huge deal! They should open more loans what would not require a cosigner but collateral.

    • Jennifer Frankel says:

      We recommend asking your school’s Development Studies department if they have any scholarships. You can also check out IEFA.org to see if there are any scholarship opportunities in your field.

  6. Taniesia Brown says:

    Hi I’m a Jamaican and would like to study in the US is Monroe College in New York an eligible school to get an international student loan.

  7. Danijel says:

    Hello,
    I am currently studding community college in us. I want to continue my education in Florida, at Fullsail University. are they eligible for international student loan?

    Thank you,

  8. Gaurav says:

    Hi _
    Would a h1b holder with a good credit history be able to cosign the loan ?

    • Jennifer Frankel says:

      Hi Gaurav – your US cosigner must be either a US citizen or green card holder, a H1B holder would not qualify as an eligible cosigner.

  9. Ashkan says:

    Hi,
    one of my relatives they have GREENCARD but they didn’t leave in us of last 2 years , and even now they are not living there . they just go there sometimes!
    can they be co signer?

    • Jennifer Frankel says:

      Unfortunately they could not serve as a cosigner since they would have had to live in the US for the past two years.

  10. Lugolole Titus says:

    Help please

    • Al Clunnie says:

      Thank you for your email.

      We have loan programs available to international students studying at an approved school in the United States. Most international student loans require students to have a co-signer, the co-signer must be a US citizen or permanent resident with good credit and income history and who has lived in the US for the past two years. However, no cosigner loans are available to international students who attend select schools. You will also have to provide a valid student visa in order to finalize the loan. You can apply for up to the total cost of education (some lenders will have a maximum amount you can borrow so you will need to confirm that with them), as determined by your school, minus any other aid received. After you apply and receive credit approval for you and your co-signer, your school must certify the amount of the loan. The proceeds are then disbursed directly to the school.

      You should apply for a loan after you have been accepted and enrolled into an eligible school.

      You can see eligible schools here: https://www.internationalstudentloan.com/eligible_schools/all/

      You can start the application process and find all available lenders here: https://www.internationalstudentloan.com/apply/

      Please let us know if you have any further questions.

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