Best Private Student Loans for International Students

Private student loans can help international students cover tuition and education costs when scholarships, savings, and university aid are not enough.

However, finding a lender is more difficult for international students because many U.S. private lenders require:

• U.S. credit history
• A Social Security number
• A creditworthy U.S. cosigner

Most F-1 students are not eligible for U.S. federal student aid unless they also fall into a qualifying eligible-noncitizen category. This makes private education loans an important financing option for some students.

This guide compares the best private student loans for international students in 2026, including options with and without a U.S. cosigner.

Quick Comparison

Private loan rates and approval depend on the applicant, school, program, credit profile, and lender funding availability.

1. Prodigy Finance

Best private student loan without a traditional cosigner

Prodigy Finance specializes in education loans for eligible international postgraduate students.

Its model focuses partly on:

• University
• Degree program
• Applicant profile
• Expected future earning potential

rather than requiring a traditional U.S. cosigner or family collateral for its main international loan product.

Current loan features

Published features include:

• No traditional cosigner for eligible applicants
• No collateral for the main product
• Fully online application
• Funding of up to 100% of cost of attendance for eligible borrowers
• Direct payment to the university

Current 2026 rate example

Prodigy’s Fall 2026 page currently gives a representative example of:

• Variable interest rate: 11.99%
• Representative variable APR: 13.12%
• Administration fee in the example: 4.2%

These numbers are only a representative example and not a guaranteed rate for every borrower.

Important 2026 limitation

Current application availability can depend on:

• Country or region
• Intake
• University
• Degree program
• Funding availability

For example, Prodigy’s current Fall 2026 page specifically states that applications are open for Indian students and directs applicants to a limited supported-school list.

Best for:

• Eligible MBA students
• STEM master’s students
• International postgraduate students without a U.S. cosigner

Main disadvantage:

Variable rates and fees can make the total repayment amount much higher than the original amount borrowed.

2. Ascent

Best for international students with a strong U.S. cosigner

Ascent offers private student loans to international undergraduate and graduate students studying at eligible U.S. institutions.

International student borrowers need a cosigner who:

• Is a U.S. citizen or permanent resident
• Meets credit requirements
• Can provide proof of at least $30,000 in annual income

Current graduate loan rates

For its general graduate school cosigned loan, Ascent currently publishes:

• Variable APR: 3.60%–16.01%
• Fixed APR: 2.69%–16.81%

These rates were listed as effective July 3, 2026 and include applicable automatic-payment discounts.

Repayment terms

Available terms include:

• 7 years
• 10 years
• 12 years
• 15 years

Repayment options may include:

• Deferred repayment
• Interest-only payments
• $25 monthly payments
• Immediate repayment

Eligible borrowers may postpone full principal and interest payments for up to nine months after leaving school.

Main advantages

• Potentially competitive rates for strong applicants
• Fixed and variable rate options
• Multiple repayment structures
• No penalty for early repayment
• Loans for undergraduate and multiple graduate programs

Main disadvantage

Without a qualifying U.S. cosigner, an international student cannot use Ascent’s international student loan option.

3. Sallie Mae

Best for broad undergraduate and graduate loan options

Sallie Mae offers private student loans for many education paths, including:

• Undergraduate degrees
• Graduate school
• MBA programs
• Law school
• Medical school
• Dental school
• Nursing and other health professions

Eligibility for international students

A non-U.S. citizen or non-permanent resident generally must:

• Reside in the United States
• Attend an eligible U.S. institution
• Meet enrollment requirements
• Apply with a creditworthy cosigner who is a U.S. citizen or permanent resident

How much can students borrow?

Eligible borrowers may receive up to 100% of school-certified education costs, less other financial aid.

Eligible costs may include:

• Tuition
• Fees
• Books
• Housing
• Meals
• Travel
• Some required equipment

Main advantages

• Wide range of degree-specific loan products
• Fixed and variable interest options
• No origination fee
• No prepayment penalty
• Different in-school repayment options

Main disadvantage

International students generally need both:

• U.S. residence while studying
• A qualified U.S. cosigner

This makes Sallie Mae inaccessible to many students applying from abroad without American financial connections.

4. MPOWER Financing

Best known no-cosigner option—but not currently available for new 2026 loans

MPOWER has historically offered international student loans without:

• A U.S. cosigner
• Collateral
• U.S. credit history

However, the lender currently states that it has reached its funding capacity and is temporarily unable to offer new loans for 2026. Students can join a waitlist.

What this means

Students should not currently rely on MPOWER as their only funding plan for:

• Visa proof of funds
• Tuition deadlines
• University deposits

It may become available again, but applicants need an active alternative until the lender officially reopens new lending.

Private Loans With vs. Without a Cosigner

Without a U.S. cosigner

Main current specialist option:

• Prodigy Finance for eligible postgraduate borrowers

Advantages:

• No American guarantor
• No traditional U.S. credit history requirement

Disadvantages:

• Limited programs
• Limited universities
• Potentially higher borrowing costs

With a U.S. cosigner

Main options include:

• Ascent
• Sallie Mae

Advantages:

• Broader program eligibility
• Potentially lower interest rates
• More repayment choices

Disadvantages:

• The cosigner becomes legally responsible for repayment
• Missed payments can affect both parties’ credit

Sallie Mae explicitly states that a cosigner shares responsibility for the loan and that missed payments can damage both the student’s and cosigner’s credit.

What Should You Compare Before Choosing a Private Loan?

1. APR

Do not compare only the headline interest rate.

APR can better reflect the cost of borrowing when fees are included.

2. Fixed vs. variable rate

A fixed rate offers predictable payments.

A variable rate may rise or fall with the underlying market benchmark.

3. Fees

Check for:

• Origination fees
• Administration fees
• Late fees

Prodigy’s representative 2026 example includes an administration fee, while Ascent advertises no fees on its college loans and Sallie Mae advertises no origination fee.

4. In-school payments

Compare whether you must:

• Make immediate full payments
• Pay interest only
• Pay a small fixed monthly amount
• Defer payments

Interest may continue accumulating even when payments are postponed.

5. Repayment term

A longer repayment period usually means:

• Lower monthly payments
• More total interest

6. Total amount payable

This is often the most important number.

Prodigy’s current representative example shows a $40,000 amount borrowed becoming a total repayment of more than $113,000 under the stated long-term assumptions.

Private Loans vs. Federal Student Loans

Private student loans generally do not automatically provide all the borrower protections available with federal student loans.

Federal programs may offer benefits such as:

• Certain income-based repayment plans
• Statutory deferment options
• Some forgiveness programs

Private lenders are not required to offer the same protections.

For most F-1 students, however, federal aid is not available unless the student has another qualifying immigration status.

Which Private Student Loan Is Best?

Best without a traditional cosigner:

Prodigy Finance

Best for eligible postgraduate students, subject to current country and school availability.

Best with a strong U.S. cosigner:

Ascent

Its current graduate fixed APR range starts at 2.69% for qualifying borrowers.

Best for the widest range of degree types:

Sallie Mae

It offers loans across undergraduate, graduate, MBA, law, medical, and other professional programs.

Best option to monitor:

MPOWER Financing

It is not currently accepting new 2026 loans but remains worth watching for future funding availability.

Final Thoughts

The best private student loans for international students in 2026 depend primarily on one question:

Do you have a qualified U.S. cosigner?

Without one, the market is limited. Prodigy Finance may be a strong option for eligible postgraduate students, but availability can depend on the applicant’s region, school, and intake.

With a strong U.S. cosigner, students can compare:

• Ascent
• Sallie Mae

Before borrowing:

1. Use scholarships and university aid first.
2. Calculate the exact funding gap.
3. Compare APR and fees.
4. Review the total repayment amount.
5. Never assume the lowest monthly payment means the cheapest loan.

Private education loans can help make international study possible, but a large loan can remain a financial obligation for many years after graduation.

Official Sources

• Federal Student Aid – Eligibility for Non-U.S. Citizens
• Prodigy Finance – International Student Loans
• Prodigy Finance – Fall 2026 Loans
• Prodigy Finance – Supported Schools
• Ascent – International Student Loans
• Sallie Mae – Private Student Loans
• Sallie Mae – Undergraduate Student Loans
• MPOWER Financing – Current Loan Availability