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Best International Student Loans For Visa Holder And Students - How To Money Investment

Best International Student Loans For Visa Holder And Students

If you’re an international student studying in the United States, you know that you face barriers to funding your education. First, the Department of Education does not offer loans for international students. And, second, it can be more difficult to find work when you’re studying abroad.

If you’re looking to study in the US, you may need to take out private student loans to finish your studies. These are also the types of loans that DACA recipients may need to use to fund their education.

Below, we compare the best lenders that offer international student loans.

Best International Student Loan Providers

The Best International Student Loans

In-School Deferment Options

Interest-only payments 

$25 fixed payments

Full deferment

Undergrads: 15 years
20 years

$1,000-total cost of attendance

Interest-only payments 

$25 fixed payments

Full deferment

Interest-only payments

Full deferment

Prodigy Finance

Prodigy Finance international student loans are designed for foreign masters students coming from emerging markets (which includes the Indian sub-continent, China, much of South America, much of Central America, all of Africa, and parts of Eastern Europe).

Students do not pay on the loans during school, and the repayment periods after graduation range from 7 to 20 years. Prodigy Finance does charge a maximum administration fee of 4% which is added to your loan total and paid back through your monthly payments.

Read our full review of Prodigy Finance.


Ascent offers loans for international students with or without a cosigner. To qualify for no cosigner loans you must be a junior or senior in college or a graduate student.

Borrowers have a variety of repayment options including deferring all payments until graduation. Repayment terms can vary between 5 to 15 years. It’s important to note that Ascent’s loans can be either fixed or variable interest rate.

Ascent offers a cosigner release program on their international student loans. After 24 months of on-time payments, your cosigner may be released from your student loan. This means they will no longer have a financial obligation to pay the loan if you can’t make the payment.

Learn more about Ascent in our full review.

MPower Financing

MPower Financing is a company dedicated to helping international students, asylum seekers, and DACA recipients fund their educational aspiration. The company offers fixed interest-rate 10-year international student loans to undergraduate juniors and seniors and graduate students.

MPower loans don’t require a cosigner, credit history, or collateral and all majors and degrees are supported. During school, you will make interest-only payments. Your required repayment period starts 6 months after you graduate and there are no penalties if you pay off your loan early. 


Stilt is a lender that offers loans to immigrants and the underserved. While their loans aren’t technically student loans (they’re personal loans that can be used towards any expenses), international students with visas are eligible to apply.

You don’t need a US cosigner to apply for a loan with Stilt. However, you will be required to begin making payments immediately, so they’re probably going to want to see that you’re employed. Also, the maximum loan amount per loan is fairly low at $5,000, with a $25,000 aggregate loan limit.

Read our full review of Stilt to learn more about their personal loans.


Discover is one of the few private loan lenders that’s currently offering interest rates that are lower than federally-funded student loans. If you have a US cosigner with strong credit, you may be able to take out international student loans with them at very inexpensive rates.

These loans have flexible repayment options including deferring payments in school. Loan repayment terms can be up to 20 years depending on the type of loan you take out.

Get more details about Discover student loans in our full review.

Citizens One

If you have a US based co-signer, Citizens One bank offers very low-cost  loans for international students. The rates are close to or even below the rates on mortgages in the United States.

Students can defer loans for up to 8 years during school, which could  make this an excellent choice for people pursuing medical or engineering PhD programs.

How To Reduce Your Need For International Student Loans

Studying in the United States can be an expensive college option, especially if you qualify for free or low-cost schooling in your home country. However, many students find that the international exposure, and the high quality of education is worth living abroad for several years.

If you’re a foreign student, you may be able to reduce the number of international student loans you take out during college by applying for scholarships and grants. Or you could try taking on roles such as a teaching or research assistant. Depending on your program, research assistant roles may pay for all your educational costs and provide you with a living stipend too.

Related: The 50 Best Ways to Save Money in College

Final Thoughts

Whenever possible, try to avoid taking on debt to pay for educational costs. But if you do need to take out international student loans, be sure to compare rates from multiple lenders.

Finally, if you do take out international student loans, you may want to consider refinancing them within a few years of graduating. This could allow you to dramatically reduce the interest you pay over the life of your loans. 

If you continue living in the United States after graduating, you could use a service like Credible to compare loans and get the best rates. Or check out our list of the top student loan refinancing companies..

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