Pursuing a degree in the United States is a big investment, and many international students need financial support to afford tuition and living expenses. While scholarships can help, they are often competitive and limited. That’s where student loans come in.
In this guide, you’ll learn about the best student loans in the USA for international students, their eligibility criteria, and how to apply—whether you plan to study at Arizona State University, Rowan University, or any other U.S. institution.
Why Student Loans Are Important
International students often face:
- High tuition fees (especially at top universities)
- Additional living, housing, and textbook costs
- Currency exchange challenges and limited savings
A student loan can help bridge the gap so you can focus on your education without constant financial stress.
Types of Student Loans Available
There are two main types of student loans for international students in the U.S.:
1. University-Sponsored or Campus Loans
Some universities like Arizona State University and Rowan University offer small campus-based loans to international students. These loans:
- Are usually low-interest
- Require enrollment as a full-time student
- Have flexible repayment schedules
- May require a U.S. co-signer
Contact your university’s financial aid office to check eligibility.
2. Private International Student Loans
Several private lenders specialize in loans for international students, such as:
- Prodigy Finance – No co-signer required for many graduate programs
- MPower Financing – No collateral or U.S. credit history required
- Sallie Mae – Offers loans with a U.S. co-signer
- Discover Student Loans – Competitive interest rates and flexible repayment options
These lenders often cover tuition, housing, and living expenses.
Eligibility Requirements
While requirements vary by lender, most international student loans require:
- Enrollment at an eligible U.S. university
- A valid student visa (usually F-1 or J-1)
- A U.S. co-signer (for most private loans)
- Proof of financial need
- Academic transcripts or admission letter
If you don’t have a co-signer, focus on lenders like Prodigy or MPower that specialize in no co-signer loans.
Average Loan Amounts and Interest Rates
- Loan amounts typically range from $5,000 to $50,000+ per year
- Interest rates usually fall between 5% and 12% depending on credit history and lender
- Many loans offer a 6–12 month grace period after graduation before repayment begins
Compare interest rates, repayment terms, and hidden fees before choosing a lender.
How to Apply for an International Student Loan
- Research and compare multiple loan providers
- Check if your university has preferred lenders
- Prepare your admission letter, visa, transcripts, and financial documents
- Apply online through the lender’s portal
- Wait for approval and loan disbursement (usually sent directly to your school)
Start your loan search at least 3–6 months before your semester begins.
Tips to Reduce Loan Costs
- Apply for scholarships alongside loans
- Choose the shortest repayment period you can afford
- Pay interest while in school to reduce total cost
- Avoid borrowing more than you need
Final Thoughts
Getting a student loan as an international student in the USA is possible — and often necessary to achieve your educational dreams. With careful planning, you can choose a loan that fits your needs and budget, whether you’re studying at Arizona State University, Rowan University, or any other U.S. college.