Loans for Students – What are the options?
February 11th, 2019 by Al C

Are you planning to study abroad? There are International Student Loans available for students in your position who need funding. This might be for a semester or a full degree program.

Here at International Student Loan, we’re here to help. Find the information you’ll need to make an informed choice and apply for funding.

What a student loan can cover:

Tuition fees, books, accommodation, transportation, health insurance, and anything else an international student might need.

We’ve prepared this post as a one-stop overview of the information you’ll need whether you’re a student, parent, student- or financial-aid-advisor!
We hope you’ll find the student loan that works for you!

Financial Aid for Non-US citizens studying in the US:

International Student Loan

There are International Student Loans available for non-US citizens studying at a college or university in the United States. It’s very common for foreign students to apply for loans to help pay for college.
Studying abroad can be very expensive once all the costs have been added up.

We have a student loan comparison tool will match you with eligible loan options which you can review and choose the loan that works best for your circumstances.

Most international students inside the US will need a cosigner when applying for a loan. They must be a US citizen or permanent resident who has lived in the US for the past 2 years and has good credit history.

Find out more here.

Financial Aid for Non-US citizens studying in the US at select schools (No Cosigner Loans):

No Cosigner Loan

As mentioned above, most international students inside the US will need a cosigner when applying for a loan. Although a cosigner is required in most cases, international students attending a small number of colleges and universities in the US are able to apply for a no cosigner loan. If you aren’t able to find a cosigner then a no cosigner loan could be a good option for you.

Most international students in the US do not have credit history. With no cosigner loans the loan approval is based on the cosigner’s credit history, along with your academic success and career path.

Find out more here.

Financial Aid for US citizens studying abroad through a US school:

Study Abroad Loan

If you are a US citizen or permanent resident you may be eligible for a study abroad loan if you are participating in a study abroad program at an approved school in the United States. You must receive credit at your home college or university. If you are not sure if your school is eligible, see our complete list of eligible schools.

Our loan comparison tool lets you compare loans and find the loan that’s most suitable to meet your needs – and you can apply right online.

Find out more here.

Financial Aid for US citizens enrolled directly at a foreign school:

Foreign Enrolled Loan

If you’re a US citizen or permanent resident planning to enrol directly with an approved foreign school to complete an entire degree program overseas, you may be eligible for a Foreign Enrolled Loan.

There are hundreds of medical, dental, law and business schools, colleges and universities around the world that are approved.

Find out more here.

US citizens applying for federal loans:

Federal Student Stafford Loan

US students that need a student loan should complete the FAFSA and apply for Stafford Loans as well as applying for a Study Abroad Loan or Foreign Enrolled Loan.

Stafford loans are fixed-rate loans for undergraduate and graduate students attending college at least half time. They are provided under a federal government program, so interest rates can be very competitive.

Find out more here.

More About Student Loans for Foreign Students:

International Student Loan provides student loan information so that you are better informed and equipped to make the right decision on funding your studies. Whether you are looking for international student loans, foreign enrolled loans, or study abroad loans, we aim to always provide you with the very best of foreign student loan opportunities.

Finding a student loan for your international education can be difficult – but it doesn’t have to be with the help of internationalstudentloan.com

7 Comments

  1. Miqda says:

    I have no cosigner and non us resident please let me know how can i apply for loan to study in carribean medical universities

    • Al Clunnie says:

      Hi Miqda,

      Unfortunately, our loan programs are for international students from anywhere in the world studying in the United States (or select schools in Canada), 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.

      If you would like more information about international student loans for studying in the US or Canada please let me know.

      For information and listings of scholarships available around the world, please visit: https://www.InternationalScholarships.com

  2. Samir Shah says:

    My daughter intends to study for her graduate school in USA. Can she get a student loan. We are from India. Please guide me for getting a student loan.

  3. Augustine Tomboi says:

    Sister, am from Sierra Leone, and need help to study acalifonia institute of technology, so please assist me to be connected

    • Al Clunnie says:

      Thank you for your comment.

      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.

Join the conversation