Private Student Loans for Non-U.S. Citizens

Posted by Frank Gogol

Do you have aspirations to study in the U.S.? Some of the most prestigious schools in the world are in America. Perhaps you’ve already been accepted into a course, but you’re still worried about the cost of tuition fees.

How will you as an immigrant finance your education when American tuition fees are so expensive (compared to other countries). Here you can find some more information about private student loans for non-U.S. citizens. It could possibly be your best option.

Cost of Education in the U.S.

Tuition fees in the U.S. have become quite expensive. The average tuition fees have risen by over 200% in public institutions and by 130% at private schools over the past 30 years. During the academic year of 2017-2018, a moderate college budget amounted to $25’290 for an in-state public college. Private colleges cost about $50’900 during that same year. The most expensive colleges in the U.S. cost more than $70’000 per year.

The costs above is also only for tuition fees. It doesn’t even include your housing, living, or transportation costs. Planning to cover your tuition fees is very important, but also make sure you can cover your living expenses as well. If you don’t have the money yourself you don’t have to worry. Use private student loans for non-U.S. citizens to cover tuition and some of your living expenses if needed.

Why Non-U.S. Citizens Do Not Qualify for Federal Financial Aid

Non-U.S. citizens hold citizenship abroad. They were most probably born in a different country and therefore don’t enjoy any of the privileges and rights granted to U.S. citizens. It’s possible to get an F1 student visa and study here. But if you’re not a citizen you won’t be able to get access to federal student aid. The reason is simply that you aren’t a citizen and only citizens get access to federal financial aid.

If your an immigrant you might also have some difficulty getting access to student loans. Why is that so? Traditional lenders like banks are hesitant to supply credit to immigrants since they might easily move back to their home country. Then many more types of eligibility criteria like proper documentation and the correct visa types could disqualify you. That is why, if you are a foreign student, you need to consider private student loans for non-U.S. citizens.

What are “Private” Student Loans?

What are private student loans? Unlike federal student loans supplied by the government, private loans are predominantly supplied by private lenders. Companies and institutions that offer loans that hold no relation with the government are considered private lenders.

Private student loans have different eligibility criteria when compared to federal student loans. It’s often easier to be approved for a private student loan, especially if you’re a non-U.S. citizen. There are many kinds of private lenders who offer student loans. Credit unions and online lenders are just a few of them. Look for private lenders willing to offer student loans to people in your situation.

How to Find Private Student Loans for Non-U.S. Citizens

So where do you even start your search for private student loans for non-U.S. citizens? What are the more important things you need to look out for? Here are some tips to help you find the private student loans you need.

Know What You Need

Wise planning helps any endeavor to succeed. Count the cost of your studies and determine how much funding you’ll need to get your qualification. You don’t want to reach your second semester and run out of money. Remember to add any possible living expenses required in the process like expensive apartment deposits.

Perhaps you even need some extra money to cover your health insurance. Make sure you take everything into account when you decide what loan amount you need to apply for. Some lenders may even require proof from your school of the total cost of tuition fees for your course. Do some research, budget well, and keep to your budget to make sure you apply for the correct loan amount.

Shop Around

Don’t just accept the first private lender you find. Do more research and look for alternatives. You might even be eligible for an international scholarship.

Get pre-approved at different lenders and compare the interest rates they offer you. Lower interest rates lead to cheaper monthly payments. Loans with lower interest rates are much easier to repay as well and you’ll end up repaying less in the long run.

Pick the Best Lender for Your Situation

All lenders aren’t the same. Some have intricate loan agreements that charge you penalty fees when you make early payments. Other lenders might have positive initiatives like a grace period for the first few months after you’ve graduated. These lenders don’t require any repayment during those months which helps you manage your money easier while you hunt for a job after graduation day.

Find the lender that understands your lifestyle and needs. Remember once you sign a loan agreement you are bound by a contract. You can always refinance your student debt to a different lender after a few months of repayment. But you are undoubtedly stuck with the lender you choose (at least for a while). So make sure you find the lender that meets your needs the best.

How to Apply for Private Student Loans for Non-U.S. Citizens

It’s much easier than you think. Some online lenders don’t even require a credit score. They have alternative ways to judge your creditworthiness. They also offer private student loans for non-U.S. citizens. You just need to meet with their basic eligibility criteria and apply.

Some lenders don’t have dedicated student loans, but they offer personal loans. You can use a personal loan for whatever you want, even to finance your qualification. Personal loans are generally unsecured since you don’t have to submit collateral for it. There are also lenders who offer no-guarantor student loans.

Here’s the typical application process you can expect for a personal loan.


Apply online for the loan amount you need. Submit the required documentation and provide your best possible application. Stronger applications get better loan offers.


The lender will contact you with regards to your application. Provide any additional information if required. Soon you’ll have your loan offer. Some lenders send a promissory note with your loan offer. Sign and return that note if you wish to accept the loan offer.


The loan then gets disbursed into your U.S. bank account within a reasonable number of days (some lenders will be as quick as 2-3 business days). Now you need to set up your repayment method. You can choose an autopay method online to help you pay on time every month.

It’s that simple! Now you just need to go pay your tuition fees and study for your tests.

Personal Loans
 for International Students!

Check Loan Options

Loans for up to $35,000. No cosigner required. No prepayment penalty.


Studying in the U.S. can be very costly. Some of the most prestigious schools in the world are in America and the demand for education is also very high. Tuition fees are soaring and that forces many people to borrow to cover the cost. Immigrants and non-U.S. citizens especially struggle to pay for college since many of them aren’t eligible for federal student aid. What can you do and how can you pay for college?

You can consider private student loans for non-U.S. citizens. The eligibility criteria are not that stringent. Even people without credit scores can qualify for private student loans. Whether you are from the U.S. or from abroad, you can get a private loan to finance your education. Apply today for a private student loan to pay for your tuition fees.

Read previous post:
Guide to Certificates of Naturalization

The Certificate of Naturalization is given to lawful permanent residents of the U.S. who have lived and worked in the...