Best International Student Loans of July 2026
Unlike U.S. citizens or eligible noncitizen students, international students do not have access to federal student loans, and scholarship opportunities are more limited. If you’re an international student who needs to borrow money to fund your studies and living expenses, you may need to turn to private lenders that specialize in student loans for international students.
Unfortunately, there isn’t a vast array of options for these loans. Research lenders that serve international students to determine which is most likely to suit your needs.
You may be eligible for international private student loans if:
- You are not a U.S. citizen or an eligible noncitizen, which includes permanent residents, U.S. nationals and those who have T-1 status or a Form I-94.
- You are enrolled at least part time in an educational program at an eligible college or university. “Typically, the university or college will have a role in certifying the loan for the lender,” says Kenneth Ferreira, assistant vice president for student financial services at Suffolk University.
- You have an established credit history or a creditworthy cosigner. Lenders mostly base private student loan approval on creditworthiness. The challenge is that international students do not have a credit history in the U.S. or parents in this country who can borrow on their behalf. So, most lenders require a loan cosigner who is a U.S. citizen or eligible noncitizen.
“The cosigner would need to have acceptable credit scores and credit history,” says Kevin Towns, director of financial aid at the University of Michigan–Dearborn. That way, if the student does not repay the loan, the cosigner pays the debt.
According to lenders that serve international students, you may need these documents when you apply:
- Admission letter
- Passport or other ID
- Proof of residence
- Bank statements
- Other financial documents showing liabilities and assets
- Application form
International students have fewer lenders to choose from than domestic students do, but it still pays to check the few available options. Because students may not be familiar with lender terminology and the loan process, Ferreira recommends that they work with their college’s financial aid office to help them decipher the terms and conditions.
- Interest rate. It’s important to check the rate and whether it’s variable or fixed. Variable rates may sometimes start low, but they will change over time – and not necessarily in your favor.
- Repayment requirements. Some lenders may require interest or complete payments right away while the student is still in school. Others allow borrowers to defer all payments until after graduation.
- Term. Lenders may allow borrowers to choose from different term lengths. You should compare the monthly costs of each option to see which is affordable and consider the total cost over the life of the loan.
- Hardship options. Find out if the lender offers any programs, such as forbearance, which allows you to pause payments if you have a temporary financial setback or become unemployed.
- Cosigner release. Though this is unusual for international student loans, ask potential lenders whether you can release the cosigner from their obligation once certain conditions are met.
Besides private student loans, international students may be eligible for scholarships, grants and fellowships. Here are a few alternative ways to pay:
- Foreign student aid from the college itself. Many prominent universities have grant funds set aside to help international students cover tuition costs.
- Study abroad scholarships from your home country. If you can’t get financial aid from an American college, some foreign countries offer grants and scholarships to help their citizens pay for college abroad.
- International financial aid from third-party organizations. Several international organizations, such as the Fulbright Foreign Student Program and the Open Society Foundations, offer student aid for noncitizens studying abroad in the United States.
No, international students studying in the U.S. are not eligible for federal student loans. To qualify for federal aid, a student must be a U.S. citizen or an eligible noncitizen, such as a U.S. national or permanent resident. The Education Department website has more information about noncitizens eligible for federal financial aid.
The best loan is one that meets your individual needs. When researching lenders, consider whether you are likely to be approved for the amount you need, whether the monthly payments will be manageable and whether the repayment terms offer enough flexibility.
Since international students studying abroad in the U.S. must usually turn to private student loans, how much the borrower can qualify for depends on the lender. Some private student loan lenders have higher maximum borrowing limits than others. However, private lenders will only let students borrow up to the school’s cost of attendance.
Banks, credit unions and online lenders offer private student loans for international students who do not qualify for federal aid.
