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International Student
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No Cosigner Loans

Studying inside the United States is expensive and after all of the family funds, scholarships, and other "free" money available to you has been accounted for, sometimes it’s still not enough. Loans are a great way for international students to fill the gap when trying to fund their education, but one hurdle that often stands in the way is finding a cosigner. Most loans available to international students require a cosigner that is a US citizen or permanent resident, has lived in the US for the past two years and has good credit. Finding a cosigner that will meet this criteria can be challenging and puts a halt to many students being able to apply for a loan.

Although most lenders require an eligible cosigner to join the application, there are some loans that do not require you to have a cosigner. Instead of determining your eligibility based on your cosigner, loans without a cosigner look at factors like:

  • How soon you will graduate
  • Your career potential
  • If you attend a school on the approved list

Each lender has their own eligibility criteria. Because of this it’s important to compare each lender- including their eligibility requirements. If you would like to find an international student loan that doesn’t require a cosigner make sure you use our loan comparison tool above. There you can enter details on your specific situation (like if you don’t have a cosigner) and receive a list of lenders that you’re eligible to apply for a loan through.

If a loan without a cosigner is available to you, then you will want to explore its terms and conditions. Each loan will have its own interest rate and repayment terms and it’s important to know these before signing up for a loan. Although it can be exciting to find a lender that will work with you as an international student, your school, and doesn't require a cosigner- you will still want to ensure you’re aware of your responsibility as a borrower.

Steps to Finding a No Cosigner Loan

To get started on your search for a loan that doesn’t require a cosigner you can follow these simple steps:

  1. Use our Loan Comparison Tool above
  2. Compare lenders
  3. Apply for a loan directly through the lender

Before applying for a loan without a cosigner, gather each document needed for the application. Common documents that you will need to have on hand when applying for a loan that doesn't require a cosigner include:

  • Resume
  • University Transcripts (past and current)
  • Standardized Test Scores
  • University Invoice or Financial Summary
  • Employment Letter or Pay Stub
  • Address Verification
  • Your I-20 or Financial Plan

After you’ve followed these steps and have been approved for a loan your funds will be automatically disbursed to your university. The time frame will vary from one lender to the next, with a lender like MPOWER it takes less than a week to receive a full approval, and offers are typically made within 1 business day.

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