International students appearing for Student F1 Visa interview will usually have Higher Education loan approved from the bank. In India students usually get loan from banks like SBI, ICICI, HDFC, Canara Bank and so on. Student loan APR much higher compared to student loans in US.

In order to attract more International Student’s, Business schools in last few months begin the process of creating student loan programs for International students without co-signer.

To get student loan in US, there should be a co-signer. But, for international students, it’s hard to get a co-signer, unless student has relatives who can co-sign on the loan. If the student’ doesn’t pay the loan, then bank will come after the co-signer to pay back the loan amount.

No Cosigner Student loan for International Students in USA  is available for certain MBA programs

No Cosigner Student loan for International Students in USA

Recently following Business Schools have introduced  No Co-Signer student loan for International students

  1. University of Chicago
  2. Harvard University
  3. Pennsylvania’s Wharton School
  4. Yale School of Management

According to Graduate Management Admission Council (GMAC) about 40 business schools in the United States and Europe, beginning with the 2009-10 academic year.

Interest Rates – Student Loans

Interest rates for student loan vary between countries, but getting student loan in US seems to be much better option than from India.

  • Student Loan Interest Rates – India – 12% and above
  • Student Loan APR – USA – 5%+

There is a huge difference between interest rates, which could save lot of money. Due to recession, there will be decrease in number of International Students planning to attend US Universities, even though more students applied for admission.

Another major reason students are hesitant is due to difficulty on getting H1B Visa, due to strict H-1B Visa rules and regulations, followed by USCIS. If they get loan to study in US, if if they cannot find job, it will be hard to pay back the loan amount.

Universities with Engineering and science  programs should start offering student loans without co-signer for International Students, it can definitely attract many students. But, will universities come forward?

  • mahshid

    hi I’ve admitted to the Florida institute of technology and I’ve won the scholarship with the worth of 14000$ and the left of the expenses is 33000$ which I should pay for every two semester am from Iran and I can’t find a US co-signer but I have a Canadian one whom can co-sign me where can I find such a loan gift aid and so on that can help me affording my expanses.
    I need some help please.

  • http://[email protected] Bode

    I need information

  • Anuja

    Banks don’t tie up with the universities so fast.

  • Sungil Kim

    Could I get a student loan? Im an international student and will be graduating from Utah Valley University in 2010. Please let me know.. thanks

  • James

    I am an international student and have gotten admission to a school in Canada. I want to know if I can get Canadian visa for my wife and enter together with her or I have to enter Canada first and later apply for visa for her?

  • Luis

    Hi, I was an international student graduated from college. With my studies from my country and from the college I was able to apply for an H1-b visa which I was approved with the company that I'm currently working on. I've worked with this company for almost two years including OPT and have reasonable income. Now I want to keep studying to get a bachelor and don't know if I could get a loan with a US citizen co-signer. I also have a good credit but it's new; only two years of credit history.

    Thank you in advance!!!

  • Kim McDowell

    Hi I'm an international student that have fight to be where i am today. The only child in my family to every receive a degree. I've accomplish my A.A.S and working now on my BA. However it's hard for me and my family to pay for my education but with the will of god and family support i've got this far and am not someone that gives up. However my parents are getting older and working for a income is getting harder and harder for them and i would like an break to take that stress of them. If i can please fine out if there is a way i can apply for a loan being an international student and prove am good for it in paying it back would be great to know. I have no co-signer but i know once i complete my MBA i will be able to pay it back with my income. Thanks in advance and look forward for your response

  • Vishal


    I am working in US on H1B and have a good credit history. My sister recently joined a MS program here and was wondering whether I can get a student loan for my sister from US banks, if I am the co-signer ? How does that work ? Do I have to pay some monthly amount towards the loan or the payment starts only after the graduation ?

    Please advise !



    • easwaran

      hi vishal

      the loan amount is payable by your sister after completion of her studies,

      in case she fails to get a job or fails to pay her due

      you as co-signor will be asked to pay

      since she is your sister you can support her is it not my friend

      even if she is not your sister my friend, kindly help a person who is need of help, do not worry about the future.

      life has many surprises buddy.

      it will turn the joblessness in to job fullness

      it is wellness of the mind

      my dear vishal

      hurt never, help ever

      keep cheerful buddy

      love and greetings



      • Vishal

        Of course I am going to help my sister ! I just thought it will be easier if I can get a loan for her, so that she doesn’t have to depend upon me. She doesn’t have a credit history, so I hope my credit history will be of some help to her. Please do let me know if we can get a loan here in US on H1B ..cause most of the banks I checked need a co-signer who is a Citizen or perm resident.

        Thanks !

        • HSB

          You cannot get loan for an F1 student without co-signer, unless the university has tie-up with banks to provide such loans.

          • Vishal

            HSB, Yes I know that and I will be the co-signer provided they accept me as a co-signer !..I'm on a H1B visa and have a good credit history for the past 7 years. Its just that every student loan application which I checked, says they need a co-signer who is a US Citizen or permanent resident …

            So my question is — can someone get a student loan with a H1B visa holder as a co-signer or not ?



            • easwaran

              hi vishal

              you are right, u need citizenship to be eligible for co signor.inspite of 7yrs in usa, and your credit account being fine

              what to do friend

              ask a fellow who is working with you perhaps us national

              i do not know indian who has acquried his us citizen status will guide you,

              any way try my friend.

              hope your sister gets some financial aid

              ta,ga,ra and what ever it is

              i pray to the almighty to guide you in this troubled time

              keep smiling

              keep safe

              my dear, i respect your courage

              i respect your kindness in helping your sister

              wishing you all the very best

              keep trying

              never ever give up my dear



            • shardul

              Hey Vishal,

              I am in a similar situation as yours. My sister is on an H1B over there and I am going there to do my MS. Did u get any regarding this if a loan can be sanctioned on these grounds?

    • Anuja

      You cannot get loan for an F1 student without co-signer, unless the university has tie-up with banks to provide such loans. You need to be a US citizen to get such loans. H1B visa is not sufficient.

  • easwaran

    to the kind attention of mr.chandra

    this is the work out

    assuming i take a loan of 10,00,000 loan for my son education from an Indian bank at the interest rate of 12% i will be paying to the bank at the end of one year Rs1,20,000 /

    in the case of us bank loan

    at today's us $ vs Indian money rate lets us say i get US$20,000 loan i will be paying at the end of year us $ 1000 at the rate of 5%

    from the above calculations one will save at the least 50k per year

    what this blog HSB said is correct.

    is it not

    i may be wrong , any further calculations are most welcome

    that way we will be wiser

    thanks for your posting



    • HSB

      Wonderful calculation. Alos, money will be used per semester. You will not take $20,000 loan in single semester. It will be taken out as needed.

  • easwaran

    beloved HSB

    it is amazing to see your quick and very detailed report.

    hats off to you for serving in a selfless way.

    i am very much indebted to you

    yes you are absolutely correct in saying

    "Universities with Engineering and science programs should start offering student loans without co-signer for International Students, it can definitely attract many students. But, will universities come forward?

    hope wisdom dawns on the authorities early

    once again thanks for beautiful response

    with love and immense gratitude



  • chandra

    Thought the interest rates may seem to look lower. Work it out in terms of Indian rupees and US dollars. Dont think there should be much difference.

    Comments invited

    • HSB

      Can you give an example of the work out in terms of INR and USD?