Loans for Indian Students in the U.S.

Loans for Indian Students in the U.S.

Studying in the U.S. as an international student can be very expensive. If you are an Indian student studying in the U.S. on an F-1 visa, you might be wondering how you’ll cover all the fees and expenses bound to pop up. The good news is you have some options.

Below we’ll take a look at scholarships for Indian students, as well as personal loans that Indian students could qualify for to help pay for school.

Are There Student Loans for Indian Students in the U.S.?

There are various student loans for Indian students studying in the U.S. Although some lenders don’t lend money to visa holders, there are others who do. Some lenders might also allow you to apply with a cosigner who is a U.S. citizen or permanent resident to help you meet the qualification criteria.

Types of Financial Support for Indians Students

There are two mains types of financial support that Indian students can apply for:

  1. Scholarships
  2. Personal loans


As an international student, you can apply for various scholarships in the U.S. You’ll probably have to do some research on the type of scholarships available for the program you want to do or the school you will be attending. Some schools don’t have a central financial aid office so scholarships are awarded by a specific department.

You can ask the graduate admissions official or someone else affiliated with your program for assistance. They will probably also have the necessary information about outside organizations who offer scholarships.

Although most scholarships are awarded based on merit, some scholarships also have other qualification criteria. So, don’t disregard this option just because you aren’t at the top of your class.

Personal Loans

Another option to fund your U.S. studies is to take out a personal loan. Unfortunately, not all U.S. lenders offer loans to international students, but there are a few who do. If you are struggling to get a scholarship, taking out a personal loan could be a great option to help achieve your studying dream.

Personal Loans for Indian Students

Many international students make use of a personal loan to fund their studies in the U.S. You can get a personal loan from most private lenders, including banks, credit unions, and online lenders. Personal loans are unsecured loans so you won’t have to provide any collateral (like an asset) to secure the loan.

Different lenders will offer you different rates and terms for your personal loan. In general, loan amounts will vary between $1,000 and $100,000 with repayment terms between 6 months and 7 years. Your credit score will be the biggest factor that influences the rate you’ll get on your personal loan.

Other factors include whether you have a cosigner who is financially strong. Overall, you can expect a rate between 5% and 20%.

The qualification criteria for personal loans typically differs from lender to lender. Generally, lenders will look at a combination of the following factors:

  • Credit score
  • Credit history
  • Income
  • Debt-to-income ratio
  • Employment history
  • Financial behavior
  • Residency status

You will likely be able to get a personal loan as an international student, however, there are a few additional challenges you may encounter.

Some lenders require borrowers to be U.S. citizens or permanent residents. You might come across a few of them in your search for a personal loan. As a solution, you can possibly make use of a cosigner who is a citizen or permanent resident. Alternatively, you can get a loan from those lenders who do offer loans to immigrants and visa holders.

Below we give some more details on our top three U.S. student loan lenders for Indian students in the U.S.

Top 3 Personal Lenders for Indian Students in the U.S.


Stilt has a wide range of credit options international students can choose from. Stilt is one of the few lenders who provides loans to immigrants, visa holders and other non-residents. To qualify for a personal loan, you don’t need a minimum credit score, green card, social security number, or a cosigner. You only need to be employed, have a U.S. bank account, and be a holder of one of the required visas.

What you can expect to get at Stilt:

  • APR between 7.99% and 15.99%
  • Loan terms of 6 months to 2 years
  • Loan amounts between $1,000 to $25,000
  • No origination fees, prepayment penalties, or administration fees


SoFi offers credit to international students and other non-residents. Unlike Stilt, however, you do need a high income and good credit score to qualify. Unfortunately, SoFi doesn’t have the option to apply with a cosigner to improve your chances. So if you are an international student who doesn’t have a strong income or a good credit score, this might be a challenge.

What you can expect to get at SoFi:

  • Loan term of 3 to 7 years
  • Loan amounts between $5,000 and $100,000
  • No minimum credit score requirement
  • No origination fees, prepayment penalties, or administration fees


LendingClub operates similarly to SoFi in that they place a lot of emphasis on your credit history as a borrower. LendingClub requires a minimum credit score of 600 and a credit history of 3 years to qualify. If you are an international student, chances are you haven’t had a chance to build a credit history in the U.S.

If you have a cosigner with a strong credit history, this could boost your chances of being approved. Some of LendingClub’s perks are their flexibility to change your payment due date and their 15-day grace period for late payments.

What you can expect to get at LendingClub:

    • Loan term of 3 to 5 years
    • Loan amounts of $1,000 to $40,000
    • Origination fees of up to 6%
    • No prepayment penalties
    • Late payment penalty of the greater of $15 or 5% of the late payment amount  (but a grace period of 15 days is allowed)


Financial struggles don’t have to be part of the adventure of studying in the U.S. as an international student. If you aren’t able to get a scholarship, you can get one of the U.S. student loans for Indian students we explored above. Then you’ll be able to focus on your studies knowing your finances are taken care of!

Personal Loans
 for Indian Students in the U.S.!

Check Loan Options

Loans for up to $25,000. No cosigner required. No prepayment penalty.
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