Best International Student Loans 2026: Lender Comparison & Rankings

The best international student loan depends on your specific situation: MPOWER Financing leads for no-cosigner Master’s and undergraduate loans (7.99%-13.99% APR, 190+ countries), Prodigy Finance specializes in MBA and select graduate programs, while traditional lenders like Discover and Sallie Mae offer competitive rates (5.99%-12.99% APR) but require US citizen cosigners. No single “best” lender exists—optimal choice depends on degree level, program type, cosigner availability, and citizenship.

• 1,177,766 international students in US (2024/25) – all-time high requiring financing (Source: IIE Open Doors 2025)
• 488,481 graduate students make up largest academic group – primary loan target (Source: IIE Open Doors 2025)
• 7.99%-13.99% APR typical no-cosigner loan rates (2026)
• 5.99%-12.99% APR rates available with qualified US cosigner
• $60,000-$100,000 typical total cost for 2-year Master’s degree
• $88,907 average starting salary for Computer Science graduates (Source: NACE Summer 2025)

Find Your Best Loan Option

Compare rates from multiple lenders. Check eligibility without affecting credit score. Get personalized offers.

Compare Lenders →

Cosigner Requirements (Most Critical Factor)

Why This Matters Most: 90%+ of international students cannot provide US citizen/permanent resident cosigner. Lenders requiring cosigners automatically exclude majority of market.

Our Rating System:

• ★★★★★ No cosigner required: Accessible to all international students
• ★★★☆☆ Cosigner optional: Better rates with cosigner, still available without
• ★☆☆☆☆ Cosigner required: Only for students with US citizen relatives/friends

Interest Rates and Total Cost

What We Compare:

• Fixed vs variable APR ranges
• Difference between lowest and highest rates (rate spread)
• Fees (origination fees, late payment penalties)
• Total cost of borrowing $70,000 over 10 years

Rate Example: 8% APR vs 13% APR on $70,000 loan = $17,000+ difference in total interest paid

Program and Country Eligibility

Coverage Breadth:

• Degree types accepted (Master’s, undergraduate, PhD, professional)
• Number of countries served (100+ vs 190+)
• University approval list size (300+ vs 500+)
• Program-specific restrictions (STEM-only vs all majors)

Repayment Flexibility

• Grace period length (6 months vs longer)
• Deferment and forbearance options
• Prepayment penalties (or lack thereof)
• Income-driven repayment availability

Additional Services and Support

• Career coaching and job placement assistance
• Financial literacy education
• Alumni networking opportunities
• Customer service quality and responsiveness

MPOWER Financing: Best for No-Cosigner Needs

Overview: Founded by international students specifically to solve cosigner problem. Evaluates based on future earning potential, not family wealth or US credit.

Strengths:

• No cosigner required – accessible to 90%+ of international students
• 190+ countries served (widest coverage)
• Master’s AND undergraduate both eligible
• Career support services – resume review, interview prep, job search help
• Flexible amounts: $5,000-$100,000
• No prepayment penalty

Rates: 7.99%-13.99% fixed APR (STEM programs typically 1-2% lower than non-STEM)

Best For: International students without US cosigner, Master’s/undergraduate programs, STEM majors at recognized universities

Application: Online application, 2-3 weeks approval timeline, documents required include passport, I-20, admission letter, transcripts

Prodigy Finance: Best for MBA Students

Overview: Specializes in graduate business programs and select professional degrees at partner institutions.

Strengths:

• No cosigner for partner school programs
• MBA focus with established alumni network
• Community-funded model – alumni invest in current students
• Up to full cost of attendance coverage

Limitations:

• Only select programs at partner schools eligible
• Primarily graduate-level (limited undergraduate)
• Slightly higher rates than MPOWER for equivalent profiles

Rates: 8.99%-14.99% fixed APR

Best For: MBA students at top business schools, master’s in engineering/law/public health at partner institutions

Discover Student Loans: Best Rates WITH Cosigner

Overview: Major traditional lender offering competitive rates for international students who have US citizen/permanent resident cosigners.

Strengths:

• Lowest rates available: 5.99%-12.74% with excellent cosigner
• Cosigner release after 12 months on-time payments
• Cash rewards for good grades (1% of loan balance)
• No fees – no origination, application, or prepayment fees

Critical Limitation: US citizen/permanent resident cosigner with 700+ credit score REQUIRED

Best For: International students with US relatives willing to cosign (aunts/uncles living in US, family friends with citizenship)

University-Specific Programs: Best for Partner Schools

Overview: Some universities partner with specific lenders to offer tailored loan programs for their international students.

Examples:

• Harvard Business School partners with multiple lenders for MBA loans
• MIT has relationships with international student loan providers
• Many state universities offer programs through credit unions

Advantages:

• Pre-negotiated rates for your school
• Streamlined approval (school verifies enrollment directly)
• Sometimes no-cosigner options

How to Find: Contact your university’s international student office or financial aid office

If You Have NO US Cosigner (90%+ of Students)

Best Choice: MPOWER Financing

• Widest no-cosigner coverage (190+ countries)
• Both Master’s AND undergraduate eligible
• Career support helps ensure job placement and repayment
• 7.99%-13.99% competitive for no-cosigner market

Alternative: Prodigy Finance (if at partner school for MBA/select programs)

If You HAVE US Citizen Cosigner

Best Choice: Discover or Sallie Mae

• Rates as low as 5.99%-6.50% with excellent cosigner credit
• Save $10,000-$20,000 in interest over loan life vs no-cosigner options
• Cosigner release available after 12-24 months good payment

Strategy: Start with cosigner loan at low rate → build US credit over 18-24 months → refinance without cosigner once you have 720+ score

If You’re Pursuing MBA

Best Choice: Prodigy Finance OR MPOWER

• Prodigy if your business school is partner (established MBA network)
• MPOWER if broader coverage needed or Prodigy doesn’t cover your school
• Both understand MBA ROI and high post-graduation salaries

If You’re Undergraduate Student

Best Choice: MPOWER Financing

• One of few lenders explicitly supporting undergraduates without cosigner
• 4-year program support (can borrow year-by-year)
• Most other specialized lenders focus exclusively on graduate programs

If You’re STEM Major

Best Choice: MPOWER (1-2% rate advantage for STEM)

• Explicit STEM rate advantages due to higher salaries and 36-month OPT
• Computer Science Master’s at top university might qualify for 8-9% rates
• Salary data supports lower risk: $88,907 CS average starting (Source: NACE 2025)

Step 1: Assess Cosigner Availability

Question: Do you have US citizen/permanent resident willing to cosign $50,000-$100,000 loan?

• YES: Consider Discover, Sallie Mae for lowest rates (5.99%-12.74%)
• NO: Focus on MPOWER, Prodigy Finance, school programs
• MAYBE: Apply both routes, compare final offers

Step 2: Check Program Eligibility

• Verify your degree type (Master’s, undergrad, etc.) qualifies with each lender
• Confirm your university on lender’s approved school list
• Check country eligibility (most lenders serve 150-190+ countries)

Step 3: Compare Total Cost, Not Just Rate

Calculate True Cost:

• Interest rate × loan amount × term = total interest paid
• Add origination fees (if any)
• Consider prepayment plans (paying off early saves interest)

Example:

• Lender A: 8% APR, $0 fees = $28,463 interest on $70k over 10 years
• Lender B: 7.5% APR, 3% origination fee = $28,574 total cost (higher despite lower rate!)

Step 4: Evaluate Repayment Flexibility

• Grace period: 6+ months after graduation critical for job search
• Deferment options: If OPT job search takes longer than expected
• No prepayment penalty: Allows paying off early to save interest
• Income-driven plans: Adjust payments based on post-graduation salary

Step 5: Consider Additional Services

Services That Add Value:

• Career coaching (helps secure job needed for repayment)
• Alumni networking (job connections worth 0.25-0.50% higher rate)
• Financial literacy training
• Responsive customer service (critical when issues arise)

Apply to Multiple Lenders Strategically

Smart Strategy:

1. Pre-qualification: Check eligibility with 2-3 lenders (soft pull, no credit impact)
2. Compare offers: Rates, terms, fees side-by-side
3. Full application: Apply to top 1-2 choices within 14-day window (multiple student loan applications count as single credit inquiry)
4. Accept best offer: Choose lowest total cost with best terms

Strengthen Your Application Profile

• Academic performance: 3.5+ GPA improves rates
• Test scores: Strong GRE/GMAT signals capability
• Work experience: Relevant internships/jobs show employability
• Clear career plan: Articulate how degree leads to specific job opportunities

Timing Matters

Best Application Timeline:

• 3-4 months before semester: Optimal (avoid peak season rush)
• 2 months minimum: Allows time for approval, disbursement, Plan B if needed
• Avoid July-August: Peak application season = slower processing

Ready to Find Your Best Loan?

Check your eligibility with top lenders. Compare rates and terms. No credit score impact for pre-qualification.

Compare Options Now →