What are the best international student loans of 2024? There are many amazing opportunities for academic and personal growth when it comes to studying abroad. However, this comes with an expensive price. The constant rise of tuition fees globally is nothing to write home about. International students often face this challenge when it comes to financing their education overseas.
To meet the needs of these students, specialized lenders and financial institutions offer various international loan options customized to meet the special requirements of students who are interested in pursuing their academic dreams in another country.
In 2024, exploring the world of international student loans needs careful decision-making and consideration of factors like eligibility criteria, interest rates, repayment terms, and many more. In this blog post, we will be exploring some of the best international student loan lenders to consider as you make plans to finance your education abroad. Without further ado, let’s dive into it.
Best International Student Loans of 2024
Without providing an exhausting list, here are some of the best international student loans of 2024 and convincing reasons to choose them:
- Sallie Mae.
- College Ave.
- Ascent Undergraduate International Student Loans.
- Earnest.
- Citizens Bank.
- SoFi.
- MPower Private Student Loan.
- Prodigy Finance.
- Stride.
- Sparrow Student Loans.
Sallie Mae
Sallie Mae is one of the most popular international student loan lenders in the United States. Furthermore, their services are available and accessible for non-citizen students who are interested in pursuing their education abroad. In other words, if you are a foreign student and you want to study in a qualified academic institution in the USA, you can consider Sallie Mae. Additionally, they offer different repayment options and do not charge prepayment penalties or origination fees.
College Ave
This is another international student loan lender that does not charge application fees and offers different repayment term options. However, to take out or secure a loan, you will need to have a cosigner. In addition, for international students who want to enroll at a qualified university or college, you can consider College Ave loans.
Ascent Undergraduate International Student Loans
One of the best international student loans of 2024 is Ascent undergraduate international student loans. Non-permanent resident students or non-US citizen students studying at a qualified United States institution are quailed for an Ascent loan. There are no origination, application, or prepayment fees. But if you want to secure a loan, you need to have a cosigner.
Earnest
If you have a valid United States social security number and you are attending a qualified United States academic institution, you are one step closer to securing an Earnest loan. It is also among the best international student loans of 2024. Meanwhile, their loan amounts differ based on the school costs and the applicant’s circumstances. As for their loan terms, there are personalized plans to check out without worry about prepayment, origination, or disbursement fees.
Citizens Bank
As a foreign student looking to further your academic pursuit in another country, it may be hard to secure a good loan. One of the international student loan lenders I highly recommend to you is Citizens Bank. This financial institution provides loans to foreign students who are attending an eligible academic institution in the USA. What’s more, their interest rates vary as well as their loan amounts.
SoFi
This is another well-known international student loan in the United States. They offer fixed rates and variable rates from 1.26% APR approximately. Apart from this, SoFi offers different repayment options and loan amounts. However, you need to be a foreign student with a valid social security number to qualify for an international student loan.
MPower Private Student Loan
DACA and international students who are studying at eligible U.S. institutions can qualify for MPower Financing private student loans. Moreover, they offer fixed interest rates of 6.25% APR approximately. But you do not have to get worked up about upfront fees because they are not charged.
Prodigy Finance
For international postgraduate students studying in eligible countries and programs around the world, they can qualify for a loan at Prodigy Finance. Furthermore, they offer personalized repayment terms based on your career aspirations and future income. Co-signer and collateral are not required to secure a loan.
Stride
Unlike traditional loans, with Stride, you can get an income share agreement where you can pay back a fixed percentage of your income for a particular number of years after you graduate. International or foreign students are eligible for a Stride Funding loan.
Sparrow Student Loans
Lastly, we have Sparrow student loans. Just because this is the last one on the list does not mean it is not a good option. On the contrary, this is among the best international student loan lenders in the USA and 2024. There are no disbursement, application, or origination fees applied when you or after you apply.
Tips For Comparing
During the international student loan application process, you will come across multiple options. However, it is important to compare carefully before choosing to make the best decisions to meet your financial needs. Here are some of these factors:
- Loan terms.
- Interest rates.
- Fees.
- Cosigner requirements.
- Loan amounts.
- Comparison tools and resources.
- Customer service.
- Repayment terms.
- Loan eligibility requirements.
- Loan approval speed.
When you compare these factors carefully, you can find a good international student loan lender that meets your repayment preferences, financial needs, and academic plans.