Every college in the U.S. offers financial aid and scholarship programs specifically for international students to help make higher education more affordable and accessible. These programs include a variety of need-based and merit-based scholarships that recognize academic excellence, leadership, and unique talents. While federal financial aid is generally not available to international students, many universities provide their own institutional aid, which may cover partial or full tuition costs. Universities often partner with external organizations and foundations to offer specialized scholarships targeting international students from specific regions or fields of study. These financial aid opportunities are complemented by resources and guidance from university financial aid offices, which assist international students in navigating the application process and securing the necessary funding for their studies.
Financial Aid
Every college in the U.S. offers financial aid and scholarship programs specifically for international students to help make higher education more affordable and accessible. These programs include a variety of need-based and merit-based scholarships that recognize academic excellence, leadership, and unique talents. While federal financial aid is generally not available to international students, many universities provide their own institutional aid, which may cover partial or full tuition costs. Universities often partner with external organizations and foundations to offer specialized scholarships targeting international students from specific regions or fields of study. These financial aid opportunities are complemented by resources and guidance from university financial aid offices, which assist international students in navigating the application process and securing the necessary funding for their studies.
Types of Financial Aid for International Students in the USA
International Student Loan:
Federal student loans are popular with US students studying in the US, but they are not available to international students. But, international students are eligible for international student loans, specialized private education loans available to international students studying in the US.
Repayment Process - vary depending on the loan option you choose. Since most international students are not able to work while they study in the US, repayment must be considered as an extremely important feature in your loan. You will need to consider how much the monthly payments will be, when payments will begin, and how long you will be able to defer paying back the loan. The repayment period generally ranges from 10-25 years. The standard repayment plan options are: Full Deferral – Students are able to defer payment until 6 months after graduation as long as full-time status is maintained. Students can defer payments for a maximum of four years, which is the typical length of a degree. Interest Only – International students only pay the interest while in school, up to four consecutive years, and can defer the principal until 45 days after graduation, or when the student drops their course load to part-time. Immediate Repayment – Payments on both interest and principal are due immediately once the loan has been dispersed.
Scholarship
InternationalScholarships.com is a website that offers a free scholarship search. The International Scholarship Search makes everything easier to find a scholarship for students wishing to study abroad. At the site, you will find comprehensive listing scholarships to assist college and university students from US or other places.
International Organizations
There are many international organizations, such as the Fulbright Commission, who grant aid to students all over the world.
A Option you might consider
MPOWER
- No cosigner/collateral: Loans tailored to your potential, not your past
- Fixed interest rates: Fixed rates, starting from 12.99% (13.98% APR), ensuring predictable repayments
- Autopay discount: 0.25% interest rate reduction by enrolling in auto pay
- Flexible 10-year loans: Ability to repay early with no penalty or fee
- Up to $100K funding: Reliable funding from US$2,001 to US$100,000 total
- Efficient online application: Quick, hassle-free process with immediate conditional approvals for many students
- Visa support and career strategy services: Comprehensive assistance, including our unique Path2Success program
- Build your credit history: Improved U.S. credit score through timely loan repayments
- Global inclusivity: Loans open to students from over 200 countries
How it works: [International student with regular interest rate] The annual percentage rate (APR) is calculated using the following assumptions: A loan is approved in the amount of US$10,000 with a 5% origination fee of US$500. The student will start making payments 45 days after loan disbursement. Payments will be interest only until graduation, plus an additional six-month grace period. The remaining months of repayment are calculated using a 120-month amortization schedule. All payments are made on time; a forbearance is never used; and there is no prepayment of any principal.
For further Loan resources and Scholarship websites:
- https://www.internationalstudentloan.com/
- https://www.envisageinternational.com/
- https://www.iefa.org/
Questions:
Who is eligible to apply for international student loans?
Students who are not US citizens or non-citizen permanent residents and who are attending an eligible US college or university may apply for international student loans.
What can international student loans be used for?
International student loans can be used for education-related expenses such as tuition, books, fees, insurance, and room and board.
What is the maximum loan amount I can apply for?
You can apply for up to the total cost of education, minus other aid, as determined by your school. In order to determine your maximum loan amount, you will need to contact your school’s financial aid office. After you apply and receive credit approval for you and your co-signer, your school must certify the amount of the loan.
