Yes, international students are able to use Sparrow to receive prequalified rates from our lending partners. Two of our lending partners focus specifically on international student loans, and several other lenders allow international students to borrow if they have a U.S. citizen or permanent resident as a cosigner.
If you’re an international student with a U.S. citizen or permanent resident as a cosigner:
Sparrow works with several lenders that lend to international students who have a U.S. citizen or permanent resident as a cosigner.
Ascent
Ascent is an award-winning lender, committed to revolutionizing how you pay for college. Ascent was named Best Private Student Loan for 2021 by Forbes Advisor and NerdWallet.
Sallie Mae
Sallie Mae is one of the largest private student loan lenders in the industry.
SoFi
SoFi offers competitive interest rates, a diverse set of repayment options, and exclusive member benefits.
If you’re an international student without a U.S. citizen cosigner:
Sparrow works with two lenders -- MPOWER and Prodigy -- to provide student loans for international students studying in the United States without a cosigner.
MPOWER
MPOWER allows students to borrow up to $50,000 per loan with a $100,000 lifetime loan limit. To be eligible with MPOWER you must meet the following requirements:
You are currently admitted to or enrolled in a school in the U.S. or Canada that MPOWER supports.
You are within 2 years of graduating from your program.
You would like the funds to be disbursed within the next 12 months.
You must reside in either the U.S. or Canada (the country of your school) while you are in school.
You must be accepted to or enrolled in an eligible program.
You are not a citizen of a restricted country or subject to individual sanctions.
The best way to determine if you are eligible is to complete MPOWER's eligibility check. The eligibility check verifies that you meet the basic requirements to begin the application process. However, MPOWER will only determine if you can be approved for a loan after their team reviews the complete application and supporting documents.
NOTE: You do not need to have a credit history or cosigner.
Prodigy
Prodigy provides graduate student loans to international students with no cosigner. Prodigy allows students to borrow $15,000 ($35,000 in certain U.S. states) up to $220,000. To be eligible with Prodigy, you must meet the following requirements (subject to affordability check):
You must be admitted to a school and program Prodigy supports.
You must be looking to study abroad.
You must come from one of the countries Prodigy supports.
If you meet these 3 criteria, you can complete a quick online application to get a quote. In most cases, you'll receive your quote immediately. It will include the amount you qualify for, the interest rate, loan term, and any fees that will apply.