If you’ve researched all the available funding options for you as an international student in the US, and you are still in need of additional financing, your next place to look is an international student loan.
If, like many international students, you didn’t realize that loans were even available for international students, here’s a roundup of 10 things you need to know about international student loans and how to apply for them. We will also point you in the direction of additional useful resources and the loan comparison tool which you can find here.
International Student Loans are specialized private education loans that are available for international students who are studying in the USA or Canada at approved colleges and universities. US students in the USA are able to apply for Federal student loans (provided by the US Government), but these are not available to international students.
In many cases, international students in the US have to apply with a qualified cosigner and should only apply for international student loans after exhausting all scholarships, personal funds, and other options. At select schools in the US and Canada there are loans without a cosigner available for select students to apply for.
Students who are not US citizens or non-citizen permanent residents and who are attending an eligible US college or university. Loans are also available to international students in Canada (including US students) at select universities.
In most cases in the US, borrowers are required to have a credit-worthy cosigner who is a US citizen or permanent resident. However, there are loans available at select schools that do not require a cosigner, depending on your situation as the borrower.
Students who are not US citizens or permanent residents and who are attending schools outside the US/Canada are not currently eligible for an international student loan.
Lenders only work with specific colleges and universities, and not every lender works with international students. This can make it difficult at times to find the right option for your situation.
International Student Loan has a helpful comparison tool which will show the options that are available to you depending on your circumstances – taking into account your course of study, duration of study, field of study and if you’re studying at an approved US or Canadian college or university.
There are loans for students who have a US cosigner, and loans that do not require a co-signer that are available to students in select instances.
International student loans, like all private education loans, can be used for education-related expenses.
The main categories/items that an international student loan can cover are:
The maximum amount that you are able to take out in the form of an international student loan is the total cost of your education minus any other aid (like scholarships, grants, etc) received.
The total cost of your education will vary based on your school and the program’s cost of attendance. After you apply and receive credit approval your school must certify the amount of the loan.
Most international student loan options are only for non-US citizens studying inside the United States. However, we now have loan options at a few select universities for those who want to study in Canada!
A cosigner is required for many international student loan programs, but not all. If a cosigner is required they must be a US citizen or a 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 cosigner, it is common to ask close friends or family members. If you do not have a cosigner you will want to explore lenders that do not require a cosigner.
Before applying for a private student loan, you should know exactly how much you need to borrow. To do this, review the financial aid award letter sent to you by your school. Next, find a loan that meets your needs. You can use our Loan Comparison Tool to help you find a loan that suits you.
You will need to submit your application to the lender. Most international students studying in the United States are required to have a US co-signer. After you have completed your part of the student loan application, your co-signer will need to complete their part of the application.
After submission you will be sent documents relating to your loan application. Follow any instructions carefully, and ensure that you (and your cosigner) sign and return the documents in a timely manner.
When your lender has received and approved all of the documents the money is transferred directly to your school/university, and you will receive your loan proceeds from them once they have been applied to your student account.
The interest rate and repayment terms will depend on the loan option and lender you select. When selecting a lender you will need to review the terms or contact the lender directly with any specific questions. If you go with a lender that requires a cosigner the interest rate is calculated based on factors including your cosigner’s creditworthiness.
If a lender does not require a cosigner the interest and repayment rates are established in a different way. For example, with MPOWER, the interest and repayment is determined based on other factors. While they do not require a credit score, they do need to review a detailed credit report to verify payment history and good standing.
It is possible to begin the loan application process prior to being accepted to your school, however, you will need to be accepted with your student visa to finalize the loan. The first step is to find a lender; see if one is available at your college or university.
We hope you’ve found these 10 things you need to know about international student loans useful for your plans to study in the USA.
For more information check out our posts on 5 international student loan terms you need to know and Student loan repayment explained.
The world we are currently living in is a society that thrives and depends heavily on computers and technology so this 2019-2020.
Gone are the days when we can function at our best without all the needed technological complexities. Now, we not only need the right equipment and computers but also the right minds to work on today’s tech-driven world.
That’s where Indeema comes in.
Indeema is a software company that develops business solutions for its clients using the latest tech. Aside from that, they also believe that having their own contribution to the industry can be best defined by offering scholarships.
Well, that’s just what they did as our friends at Indeema offers a scholarship program worth $1,000 for computer science students and to those who are studying STEM-related courses.
Indeema believes that investing in bright minds and aspiring talents, as well as sharing their resources and knowledge to the right people is one of the best things they can do for the upliftment of society.
To assist high school seniors or freshmen students in the USA, Indeema is offering the $1,000 Scholarship Program for enrolling at a university/ college for:
The company believes that it is in supporting students who are following a path towards computer and tech literacy is the future. Thus, those who are interested in enrolling in computer science, computer engineering, as well as other STEM-related programs, specifically in science, technology, engineering, and mathematics, are eligible to apply for of this scholarship fund.
Indeema is driven by their passion to not only cater quality tech business solutions to their clients but also positively contribute to the overall welfare of the industry. This is why the company’s mission is driving progress with tech skills and science.
The company also lead educational courses and collaborate with research institutions in Lviv and Austria. Furthermore, Indeema also believes that it is important for them to facilitate the development of fresh minds in the IT industry so that it will progress for the betterment of everyone.
Because of this, they decided to finally grant educational scholarships to students in the US who are interested in pursuing careers in computer science and other STEM courses. This is also a strategic move for the company as it is where their main office is located.
Indeema knows that starting can be hard. That’s why they want to create a stepping stone and encourage IT enthusiasts to build their career in this innovative landscape.
Not only will this create brighter minds in the tech industry, but this will also make it easier for them to leverage on their careers, and in the process, help Indeema and the entire tech sector improve.
Any wonderful product or disruptive innovation is done by people like you or like Indeema — passionate dream chasers.
Study hard and work smart, and there will be nothing you can’t achieve!
High school graduates who graduated from a public school are eligible. However, those who have graduated from a private school are also welcome as long as the school they’ve graduated in is accredited.
Students who are going to pursue a degree and career in computer science, computer engineering, and other STEM-related courses are eligible to apply for the scholarship.
Students who are already enrolled or have been accepted for enrollment for a four-year course at any accredited college and university in the US are eligible for the scholarship.
Students who have a high SAT score are eligible. Specifically speaking, only those who have SAT scores of 1350/1600 and above. Also, those that have a cumulative GPA of 3.0 as well as a 27 or higher composite ACT score are eligible for the scholarship.
If you are deeply passionate and interested in computer science, computer engineering, and technology, then you’re a great fit for the scholarship.
If you are interested you can find out more below. You must apply for the $1,000 Scholarship Program by March 1st.
Read more from our blog.
This award is brought to you by IEFA.org and all responsibility for the program lies with the provider – in this case, Indeema. For more information see the listing on IEFA.org and contact the provider directly.
The 2019 International Student Travel Video Contest is open for entries!
International Student are again giving you a chance to win – this year there are 5 unique awards, including the $4,000 grand prize! To enter, you will need to submit a video that you made specifically for the 2019 International Student Travel Video Contest. Your video should be up to 4-minutes long and about one of two things:
That your dream is to be an international student, and that you have a school in mind to attend that you want to tell us about.
That you are currently an international student with a dream trip that you’ve always wanted to take that you want to tell us about.
If your video is selected, you could win one of the following prizes:
The judging panel this year is made up of an esteemed group of professionals in the international education sector, and you can meet the judges here, and all the details and deadlines for the contest can be found here.
Check out some past winners – this year it could be you!
Remember to submit your video for the InternationalStudent.com annual Travel Video Contest before October 15th, 2019.
While you’re with us, find out about how international students can apply for a loan to study in Canada.
The Zuckerman STEM Leadership Program supports future generations of leaders in science, technology, engineering, and math in the United States and Israel and, over time, fosters greater collaboration between the world’s most advanced scientific research centers.
The program provides scholarships through the following initiatives:
The Zuckerman Postdoctoral Scholars Program attracts high achieving postdoctoral scholars from premier universities in the United States to do research at one of seven Israeli universities. Once they complete their research, many Zuckerman postdocs are expected to accept faculty positions at top North American universities, weaving a network of academic collaboration and goodwill that will greatly benefit US Israeli scientific cooperation.
The Zuckerman Israeli Postdoctoral Scholars Program provides additional support to Israeli researchers who have been accepted to a postdoctoral program with a stipend at an American university. Zuckerman Scholars enjoy unique programming and activities specially organized for them by the host universities, such as touring, educational experiences, and social programs.
Candidates for the Zuckerman STEM Leadership Program are assessed based on their academic and research achievements, as well as on personal merit and leadership qualities, without regard to race, religion, gender, ethnicity, or age.
Scholars are expected to return to the home campuses from which they earned their doctorates, and to visit other universities, where they will give talks and be interviewed by faculty and PhD students. They should share insights about their research and about the experience of collaborating with scientists in the United States.
The postdoctoral scholars program will enable the highest achieving postdoctoral researchers from the US to collaborate with leading scientists at Israel’s top research institutions. Leading PhD graduates from these Israeli universities will have an opportunity to accept postdoctoral positions in top US academic institutions.
Find out more and apply for the Zuckerman STEM Leadership Program on IEFA.
Find other scholarships.
Read our blog.
According to The Canadian Bureau for International Education, 572,415 international students studied in Canada in 2018. This represents a 154% increase in international students in Canada since 2010. Canada is now the 4th most popular destination for international students, behind the USA, the UK, and China.
Canada is one of the leading first-world countries known for its economic abundance and high standard of living. Because of this, their educational system gets great reviews and that’s what international students are looking for. Canadian schools are equipped with the latest equipment and with proper resources required to get the best educational experience possible.
Canada is best known for being one of the most tolerance countries when it comes to skin color and nationality. This makes it a prime destination for international students who wish to avoid the risk of encountering racism or xenophobia.
The crime rate is minimal in Canada because of its strict security and safe adherence to the law. Canadians are also naturally peace and law-abiding citizens, making it a great country to study in. No need to worry about distractions and potential safety hazards because its authorities are working round the clock to provide and maintain a safe and secure place conducive for studying.
96% of international students recommend Canada as a study destination, while 60% of international students say that they plan to apply for permanent residence in Canada. This is one of the top reasons why they want to get education loans for international students in the country.
In terms of student numbers, the nationalities with the largest representation of students in Canada are China (with around 28% of the market) and India (with around 25% of the market). US students represent only around 3% of all international students in Canada.
Across Canada, the province with the largest number of international students is Ontario (48% of international students) with the next most populous provinces being British Columbia (24%) and Quebec (12%).
IEFA.org can connect international students with education loan providers where they can access loans without cosigners, collateral, or credit history. These are available to students from 190+ countries pursuing degrees in any academic field.
International student loans are made available to international and DACA students studying in the USA and Canada. Undergraduate and graduate students within two years of graduating are eligible.
These loans can be used for past, current, and future semesters, and you can use the funds to pay for expenses including tuition, accommodation, food, insurance, and books.
Please note that every case is different, but here is an example for informative use only – this is not a guarantee of costs for your individual circumstances.
An international (non-US, non-Canadian) student studying a Master’s-level program borrowing $10,000 USD would expect to repay $100.54 per month during their studies and for 6 months after graduation, and then $141.62 per month thereafter.
Find out more and apply for your International Student Loan in Canada today.
We believe that everyone deserves the right to get a proper education as it creates a better world for all of us. What better way to turn that philosophy into reality by offering scholarships in the U.S. and Canada.
Knowing that these two countries are some of the best places to study and get a college degree because of their high educational standards, it’s best that deserving students get the chance to experience premium education.
This is why we, at International Education Financial Aid (IEFA), are proud to showcase two scholarships for international students in the U.S. and Canada. There are two scholarship types. These are the Global Citizen Scholarship and the Women in STEM Scholarship.
Although the deadlines have passed and the students have been carefully chosen, there’s still a chance that another round of free scholarships will be given soon.
Find out more about these scholarships and stay up to date with another possible round by reading on.
Provided by: MPOWER
Application Deadline: July 15th
About this scholarship:
The Global Citizen Scholarship is geared towards international students who are looking to study either in the U.S.A. or in Canada. The two countries are considered as the top places to get premium education because of its first-world and high-standard educational experience.
To qualify you must be enrolled full-time at a US or Canadian school that MPOWER supports, and you must be an international student allowed to legally study in the U.S. or Canada. U.S. citizens wishing to study in the U.S. and Canadian citizens wishing to study in Canada are not eligible for this scholarship.
This scholarship is not restricted to a field of study – students from all fields can apply.
And although the application deadline has passed, the chances of MPOWER offering another batch of scholarships for international students is very high.
This scholarship has been created and specifically designed to cater to international students who wanted to study in the U.S.A. and Canada. Its aim is to encourage a diverse community of students for the long-term goal of improving the productivity and prosperity of both the two countries and the individual lives of its scholars. In simpler terms, foreign students get the chance to experience American and Canadian college and university-level education at its finest.
Scholarship applicants, should, however, be qualified. Some of the qualifications needed are full-time students who are currently enrolled at a school located in the U.S. or in Canada. And that school should be directly supported by MPOWER.
Furthermore, applicants should be confirmed as official international students who are allowed to legally study either in the U.S. or Canada or in both the two countries.
Students who are U.S. citizens looking forward to studying in the U.S. are exempted and not eligible for the scholarship. The same goes for Canadian citizens who are looking to study in Canada. The aforementioned scenarios are not eligible to get the scholarship.
However, it’s worth noting that the scholarship isn’t restricted to a specific field of study or degree. This means that successful scholars from any field of degree can apply for the scholarship.
Provided by: MPOWER
Application Deadline: July 15th
About this scholarship:
The Women in STEM Scholarship is geared towards female international students who want to study college-level education in the U.S.A. or in Canada. Just like the Global Citizen Scholarship, the World Health Organization policy MPOWER is still the main sponsor and provider of its funds.
The last applications were also submitted last July 15. But the chances of having another batch of STEM scholars is very high because of MPOWER’s continuous support towards the cause.
It is a scholarship fund aimed at women who are geared towards using their STEM degree for the greater good and benefit of society. Those who have the potential to serve as inspirational role models and as advocates for women’s rights are the main target of this scholarship.
Students coming from different countries, except for the U.S. and Canada, are eligible for the scholarship. They should also be currently enrolled in a STEM degree program in any U.S. or Canadian school that is directly supported by MPOWER. Only females and those who are full-time students can apply for this scholarship.
Applicants must also submit a clear and detailed essay describing their academic and professional accomplishments in the STEM program. They should also share their thoughts about their future goals and how they intend to achieve those goals if ever they successfully qualify for the STEM scholarship.
STEM is a description of programs that feature subjects in any field of Science, Technology, Engineering, and Mathematics, hence STEM.
If you are already, or are going to be an international student in the US, it will be required of you to have a cosigner while applying for a loan.
If you do require a cosigner, the cosigner must be a US citizen or permanent resident, and they must have lived in the US for more than 2 years. They should likewise have good credit history. Non-US natives and non-US permanent residents are not allowed to be a cosigner for international student loans.
Despite of the fact that most international student loan applications require a cosigner, students attending a growing number of schools and colleges in the US and Canada can apply for a loan without one.
If you do not have a cosigner, there is guidance on how to find one in the International Student Loan Resources, but looking for a “no cosigner loan” could be the best choice for you.
Since most international students in the US don’t have any financial history there, a cosigner joins the loan application process. Approval for the loan and the interest rate applicable are then based upon the perceived reliability of the cosigner.
The cosigner is lawfully bound to repay the loan if the borrower does not make the payments.
Don’t have a cosigner? If research doesn’t help you find one, see if a loan that doesn’t require a cosigner is available for you.
With loans that do not require a cosigner, rather than using the applicant’s credit history, lenders assess your education and career path, in addition to other factors when making a decision on approval for a loan. These might include your nation of origin, graduation date, and what school you are attending.
The majority of student loans available for international students are solely for non-US natives who will be in the United States. However, a new option helps students apply for loans at a number of colleges in Canada as well!
International Students in Canada may now apply for an international student loan without a cosigner!
International Student Loan has partnered with a lender that can offer loans to students from over 190 countries, including the US, who are attending select schools in Canada. Up to this point it has been hard for international students to finance university education in Canada, but thanks to our partner lenders and International Student Loan, there are now various schools in Canada where no-cosigner loans are available.
International students at eligible schools can apply for a loan to fund the expense of your education including the cost of tuition, lodging, sustenance, insurance, and supplies. As referenced previously, with this sort of loan, rather than focusing on your or your cosigner’s financial record, the loan specialists take into account different factors.
For example, your education and future career, your nation of origin, your expected graduation date and what school you will be studying at will be considered. Students who are not US natives or permanent residents, and who are going to schools outside the US/Canada are not presently qualified for international student loans.
Students who are not US natives or permanent residents, and who are going to schools outside the US/Canada are not presently qualified for international student loans.
International students should use the loan comparison tool to see whether they can apply for a loan without a cosigner and if their chosen school is available. Provided that this is the case, they should then be able to review the terms and conditions of the credit agreement and apply online.
While inquiring about a no-cosigner loan, here are a couple of things you should consider:
When your application has been assessed you will get further information about your loan and the terms and conditions. These will cover the financing cost and the total amount you can obtain. These will differ by loan specialist and depend on your circumstances.
No-cosigner advances through our partner have a fixed rate of interest and enable you to access up to $50,000 in a 2 year period. You should state the amount you might want to borrow on your application.
Once approved for the loan, the funds are disbursed directly to your school or college.
The whole process takes around about a month and a half, so you should plan ahead and ensure that you make your application in time.
To check whether there are no-cosigner loans at your school, start with the loan comparison tool.
Find out more about International Student Loans.
Sponsored by educations.com
Deadline: April 2020
Educations.com believe that students who study abroad become the next generation of globally-minded leaders – and they want more of you to do it!
They’re offering a scholarship of up to €5000 to help cover your tuition fees and get you one step closer to your next great adventure.
The scholarship will be awarded for the fall/autumn semester and is open to students from any country who will be studying a master’s degree abroad at a European university or school.
To apply for this scholarship, you must:
The applicant should have already gone through the whole process of application to be accepted as a regular student in any European school. If not, then applicants should have serious intent to study in any European school.
The applicant must have already applied for entry to any school that is based in Europe as one of their regular students. If this isn’t the case, then the hopeful applicant should show serious intent to study in any European college or university.
The applicant must be currently studying any degree program that is offered by the European college or university. Online courses attended from another country aren’t considered.
In order to benefit from the masters scholarship study fund, applicants should have graduated and finished a bachelor’s (undergraduate) degree. They should also meet the program’s language requirements, especially that Europe is a multilingual continent.
Spanish, French, and German are some of the top languages needed to be learned, depending on location, alongside the universal language, English. The applicant should also be eligible to apply for any study visa that is relevant to his or her desired master’s degree.
The applicant should also have experienced studying abroad. The country where the education took place should also not be the place the applicant was born in. Furthermore, he or she shouldn’t also be a regular resident of the country he or she currently studies in.
The applicant should show an interest in other cultures. This is very important, especially that Europe is a continent where people from different countries and cultures live.
The applicant should understand that the world he’s living in is a globalized world where people from different walks of life and from different corners of the globe live together and in harmony. Showing a positive attitude towards the people around him or her are good signs of becoming a scholar.
The applicant should have a set goal in mind, one where he or she is aimed at contributing something productive and positive to the world through the education that they are likely to get. Showing passion and eagerness to improve their skillset and acquire more knowledge for the betterment of society are good signs of a carefully handpicked scholar.
The applicant should be intellectually superior, both academically and in extracurricular activities as well. Those that are academic achievers are given priority as they are the ones who are most likely to excel.
Furthermore, applicants should show a willingness to improve their grades and do the best of what they can to strive for perfection, despite the fact that all are imperfect in one way or another.
Those who are active and engaged in participating in extracurricular groups and activities are given priority as they show a positive attitude towards their peers. Academic excellence isn’t the only thing considered but social skills as well.
The applicant should show eagerness in starting a new journey of his or her life, knowing that their are endless possibilities around him or her. They should also be excited in sharing their experiences and story with the world, specifically to their families, friends, and peers from their homeplace.
Get more details on the €5000 Scholarship to Study a Master’s in Europe and how to apply.
Don’t miss your chance to participate in this exciting 3D printing competition for international students!
Show 3D HUBS how you used 3D printing to realize your innovative engineering or design project.
They’re looking for inventors, entrepreneurs and creative talents who push the boundaries of 3D printing to solve real-life problems.
They’re accepting submissions in five categories:
The deadline for submissions is June 30th
All submissions must present a physical product or prototype. Whole or part of the design must be fabricated through a 3D printing process. We accept submissions from both individual contributors and teams. All contributors must be either current students (in secondary, undergraduate or postgraduate education) or recent graduates that have completed their studies after July 2018.
The awardees will be selected by a panel of experts based on certain selection criteria. The winner of each category will receive:
The five finalists of each category will receive a copy of The 3D Printing Handbook and an official finalist certificate.
Apply at internationalscholarships.com
Not for you?
Global Citizen Scholarship
Deadline: April 15
Students at select schools can apply for the Global Citizen Scholarship – a $5,000 award granted to students from any country studying in the US and Canada.
Visit internationalscholarships.com for application details and to apply for the Global Citizen Scholarship.
Winners of the Global Citizen Scholarship will be selected based solely on their short essay response. Essays will be judged based on (1) grammar, vocabulary, and clarity, (2) creativity, and (3) insightfulness and power of story. Scholarship essays will be judged blindly by an unbiased committee.
For the latest information about international scholarships please visit InternationalScholarships.com.
Find resources to support your international education on our resources page.
Read our latest blog posts on the International Financial Aid and College Scholarship blog.