Education Loan Options for International Students in the U.S.

Education Loan Options for College Students Studying Abroad

In the United States, the total student population is upwards of twenty million.

  • About five percent, or one million of those students, are international students.
  • The majority of these international students come from China, India and Korea and typically pursue a degree or program in one of the STEM fields. ‘Although many international students come to the United States for education opportunities, most of the funding opportunities for international students are slight.
  • This is because international students lack a United States citizenship, do not have a credit history, and do not have ready access to a United States cosigner.
  • Because of those reasons, traditional banking institutions do not typically cater to the international student population and it may be difficult to find international student loans.

The Different Options

There are typically three avenues to go down in terms of cosigners – not having a cosigner, having a United States cosigner, or having a cosigner from your home country.

  • A cosigner is someone who will sign for your student loan with the knowledge that if you, the student, cannot or do not pay the loan back, then the responsibility of that debt falls on them.
  • In terms of securing loans, it is easiest to do so with a United States cosigner, and hardest to do so without a cosigner.

No Cosigner

There are private lending options that can serve the needs of international students seeking education loans. These private lenders can offer education loans to numerous programs and schools in the United States and some in Canada, Europe and elsewhere around the globe. Nomad Credit can help identify the schools and programs that these lenders may be at and connect international students with those lenders.

With a Cosigner

Besides federal loans (which are not available to international students), almost all other types of education loans require a cosigner.

  • Most institutions require a cosigner who is either a United States citizen or a United States resident for the past two years with a more than stable credit score.
  • Cosigners must show a stable income, and the past ability to pay back loans and debts.
  • Since the cosigner essentially becomes responsible for the loan being taken out, lenders are specifically interested in prior history of paying back debts.
  • With a cosigner, options for receiving educational loans are much more vast.
  • Nomad Credit can help link international students looking for international student loans with compatible lenders.

It also is possible to have a cosigner from a country that is not the United States. Many foreign lenders will lend to students from their country studying abroad if that respective student has a cosigner from that country.

Studying Abroad in Europe or Elsewhere

Generally speaking, international students wishing to study abroad in Europe or elsewhere still have options.

  • There are some lenders who offer loans without a cosigner to a select number of programs in Europe.
  • A domestic lender from an international student’s home country may have an education loan program for students who have a cosigner from the student’s home country, too.
  • Nomad Credit has partnered with lenders who provide education loans with no cosigners and Indian cosigners for those studying in Europe and elsewhere around the globe.

There are several lenders that may serve international students for international student loans, and Nomad Credit can connect international students to them. For more information, visit We will happily help you find available options for education loans or study loans. If you have any questions, send an email to and we will be glad to answer!

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