Best International Student Loans Without Cosigners in 2023

Best International Student Loans Without Cosigners in 2023 – Getting loans for international students without a cosigner in the United States is almost impossible. But be rest assured, there is always an option.

If you are a foreign student looking for loans for international students without Cosigners, in this article, you’ll findthem all.

Just read to the end and you’ll get all the details you need to know.

What is a Cosigner?

As a foreign student in the United States of America or coming to the US, you will be required to have a cosigner any time you want to apply for a loan.

A cosigner is a person who consents to the legal responsibility for a contract. If someone cosigns your loan, it means that they promise to pay it back if you are unable to make your loan payments.

If eventually, you don’t get to repay your loans, the creditor may sue you and your cosigner. Your creditor could even withdraw money directly from you and your cosigner’s paychecks or bank accounts if care is not taken.

Even in the worst cases,  the lender might notify the credit bureaus about the late payments in both your name and the cosigner’s name, which might damage the quality of both of your Credits.

Cosigners exist because creditors want someone to stand in for individuals who want loans but aren’t qualified. The co-signer must be better than the borrower in terms of credit score and must comply with the lender’s requirements. If otherwise, you won’t be eligible for a loan even if you have a co-signer.

No Consigners Loans

In the United States, Universities and Colleges can be expensive. Due to this, many students take loans to pay tuition and other basic needs. For Americans, the U.S. government provides options for loans with low interest, no cosigner, and multiple repayment plans.

But, as an international student, loans for international students without cosigners can be hard. Especially for those who know no one in the United States, which could even jeopardize their admission.

Fortunately, there are alternatives, so if you can’t find a cosigner, you need not worry. The loan options that would be explained subsequently could be a great choice for you.

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Wondering how international student loans without a cosigner work? When approving an international student loan without a cosigner, Instead of considering you and your cosigner’s credit history, the lender will look at your academic success and career path. Your place of origin, your graduation date, and the institution you attend are also a few things they will take into account.

Both Federal and Non-governmental lenders provide loans for international students. Each of these lenders provides loans for international students, with its qualifications for eligibility. Meanwhile, there are only a few selected lenders that provide international student loans without cosigners.

However, before choosing a lender, you must do your research and find loans that will offer you terms that will meet your needs.  Below are some of the international student loans without a cosigner that you can apply for.

Federal Student Loans for International Students Without Cosigners

The majority of Federal student loans come without a cosigner. The bigger problem is, for international students, if you aren’t asked to bring in a Cosigner, the eligibility requirements for the loans might be difficult to meet.

Fortunately, aside from these loans, the US government makes provisions for other financial aid schemes. You can require for student loans by filling out FAFSA.  This will help you determine your eligibility for further federal financial help, including scholarships, grants, and work-study programs.

Highlighted below are some types of federal student loans you may be eligible for.

●     Direct Subsidized Loans

These loans offer students low, fixed interest rates and flexible repayment terms. Based on their financial need, the government offers these loans to students, and during the grace period (six months after graduation when payments aren’t yet due), it pays the interest that has accrued.

●     Direct Unsubsidized Loans

Unlike Subsidized Loans, Direct Unsubsidized Loans are accessible to all students, regardless of their financial needs. However, the government does not refund accrued interest while students are enrolled in classes or at any other time. Nonetheless, these loans do include a variety of repayment alternatives and the same low-interest rate.

●     Direct PLUS Loans

This is also one of the federal international student loans without a cosigner. Here, only graduate students (Grad PLUS Loans) and student parents can apply for these loans (Parent PLUS Loans). Despite having greater interest rates than the other two categories of loans, it still has a variety of attractive repayment options.

Private Student Loans for International Students Without Cosigners

No doubt, Federal student loans for international students without cosigners can be difficult. If eventually, you aren’t ineligible for federal student loans, don’t be discouraged! There is always a light at the end of the tunnel.

There are also private student loans without cosigners for international students that you can apply for. However, it is important to note that private student loans don’t offer benefits such as income-driven repayment plans and student loan forgiveness, like federal loans.

Below are three online lenders designed specifically to offer loans for international students without a cosigner;

●     Stilt

Stilt’s loans are specifically designed for foreign students and others who might have trouble receiving a private or federal loan in the US. This company lends to immigrants who can’t find a cosigner, such as foreign students and DACA holders.

Stilt’s loans have competitive interest rates that start at 7.99%.  Their loan application procedure is also quick and you can get approval after applying in just 24 hours. After the promissory note is signed, the money may be in your account as soon as one business day later.

Interestingly, Stilt doesn’t partner with any universities or other academic institutions. Therefore,  you are eligible to apply regardless of the university you attend. If all you have ever wanted is to refinance your international student loan without a cosigner, Silt loans is a perfect option.

Another amazing benefit of this loan is that Slit can also assist you to build your credit score.

●     MPOWER

Just like Slit, Mpower also focuses on international students. To make up for the absence of cosigners,  MPOWER usually lends money to students they believe have a good chance of succeeding in the workforce.

This company collaborates with universities and exclusively offers loans for a select number of majors. To be eligible for Mpower loans,  you must be enrolled in one of the MPOWER-eligible schools and be in your last two years of study.

This company offers a minimum interest rate of 11.99% and the loans have a maximum of 10 years as repayment periods. Due to this, it can be difficult for undergraduate students and students at lower-tier academic institutes to qualify and be eligible.

However, loan processing for MPOWER  takes 3 weeks on average and the funds are disbursed directly to the school, not to the student.

●     Prodigy Finance

Another student loan for international students without a cosigner is Prodigy Finance. Over the years, they have grown tremendously and have seen great success. Sadly, as much as they have interesting offers for those after student loans for international students without a cosigner, their qualification guidelines are tough. This makes it a bit difficult for some students.

Also, this company has a limited list of university partners and is focused on o-cosigner student loans for international students who attend Master’s programs. Prodigy offers loans only to students at the highest-ranked universities and even restricts the areas of study that they will fund.

Additionally, Prodigy loans come from a U.K.-based company, and the repayments are not recorded to American credit bureaus. Due to this, they cannot raise your credit score as Slit does.

Other Financial Aid Options for International Students

For many foreign students, getting private student loans is a probability. It’s a two-way thing, you can get an approved loan or not. Instead of clinching on probabilities, you might as well try other financial aid options.

Below are two additional ways to get financial aid aside from international student loans without a cosigner.

Private & Academic Scholarships

One of the greatest financial options for students is scholarships. There are numerous scholarships enough for students of every type of skill and academic excellence.

In fact, some scholarship options will cover your entire tuition, feeding, and accommodations. All you need do is a dime Google search and you’ll find hundreds of scholarships to apply for. Interestingly, the more you apply for, the better chance you have at getting money and several grants.

Unlike loans, scholarships offer a huge and better advantage: you will never have to repay them and they don’t require difficult requirements.

Family & Personal Savings

Paying as much as you can for your tuition upfront, will help you greatly as you will be able to save a lot of money over time when it comes to college costs.

The number of loans you have to take on will be reduced.  Even if it means making some sacrifices, try to save up for your college education upfront.


Securing a loan as a foreign student in the United States is hard to come by. Especially, if you don’t have a cosigner, it might even be impossible. Nonetheless, that doesn’t mean that it’s over, there are always other options. With the above information, you would be able to secure a loan or a scholarship to make the most of your education in the U.S.!

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