Student Loans For Immigrants

There are several loan companies that offer loans to immigrants for those who meet the eligibility criteria, for the process of student loan for immigrants lets have a detail look to know about the immigrants eligibility for federal financial aid , private student loan and many more.

Updated by Priya shah on 7th January 2020


Those individuals that are immigrants with undocumented identity are ineligible for the federal benefits and funds, but you are eligible to get aid from the university. Some states have permission to allow undocumented migrants but some don’t, in spite of undocumented immigrants are properly eligible for most of the private loans and benefits as well. Most of the immigrants think they are not eligible for student loans.

It’s just the assumption that student loans are not available for immigrants but actually, the options and benefits are available for international students and immigrants specifically (non-citizens) who are on student visas. Mostly student that may be immigrants or casual may need to meet higher requirements and need to take an extra step to get a loan, so it’s very important to know the proper step to take and know the best option.  The below article has all the information that you may need to know specifically for immigrant students.  

Table of content

How to start with the process of student loan for immigrants

It is important to understand the factors that are related to taking student loans. Or else you can easily get trapped in the unfavorable terms and conditions that you have not expected. Below there is a certain acceptance that may help you out taking a student loan. 

What loan amount are we suppose to take?

The very first step that we need to know while deciding the size of the loan amount needed to get through the school. The interest rate will grow with the volume of your specified loan, so loans must be taken as per requirements because more loans can land you up paying a larger rate of interest. After graduation, your important consideration will be your future earning, if your studies are in the field with the potential for significant income that can definitely help you reach the level of income with little more benefits.

Documentation required for immigrants or international students

Mostly some of the documents are usually requested by the financial institutions for a student loan application:

  • college acceptance

  • Approved visa

  • The U.S. address

Fixing interest rates

Interest rates vary based on the lender and the circumstances of the applicant. If you are going for the federal student loan you typically have a lower rate of interest but unfortunately immigrants and international are not eligible for the federal student loans. 

They have certain factors that determine the interest rates of the student loans that include term credit history, cosigner, and duration/length. Normally the interest rate for the student loan comes in between2% to 14%.

Worried about your student loans? Find the best student loan for you

Terms and conditions

Precisely the variation of the loan amount for student loans falls under various repayment plans like:

  • Standard and extended repayment: This repayment plan involves onetime monthly payments with a fixed rate of interest throughout the loan period, mostly below 10 years.

  • Graduated repayment: This repayment option increases over the length of the term with the plans. The borrower can make substantial payments years after they graduate as soon as they start earning.

  • Income-based repayment: The income-based repayment option is very much similar to graduated repayment, but instead of the interest increment at a fixed rate it is directly combined to your income with a safer option. 

Are immigrants eligible for federal financial aid?

According to the terms and condition of the U.S. Department of education, they strictly limit the eligibility of the federal student aid which include student loans to the citizen of the US and those who are noncitizen too. 

Noncitizens include us U.S nationals, permanent residents, and people who have been recognized as refugees, parolees whose applications have been granted. The noncitizens who are true of the financial aid in order to determine eligibility before applying for federal financial aid. Moreover, the requirement of FAFSA is for non-citizens to enter their alien registration number and social security as part of the application process. 

The requirement of both these numbers for FAFSA will prevent many immigrants( both legal and illegal)  from applying to for the federal financial aid ], that will be checked against us department of the homeland security database. Moreover, as the additional term, the applicants have to provide proof from the U.S Customs and immigration services that intent to be citizens or residents in order to qualify the financial aid.

Are immigrants eligible for private student loans?

We always have second-best options that are private student loans .for those students who are commonly not eligible for the federal student loans, they have an existing option called private student loan. They are comparatively easy to get eligible than federal student loans. 

They have several loan companies that offer loans to immigrants who meet the basic eligibility criteria. But with that cosigner is very much required for most of the loans for the immigrants. The cosigner is always creditworthy to us citizens or permanent residents who have been a while or for some set of times in the U.S. 

The student has to go through the application process with proper personal information along with the financial information of the cosigner, as required. The remaining process of the interest rate will depend on the credit history of the borrower as well as the cosigner. 


Either federal or private immigrants are still in the range of the options available to fund the education of international students on a visa. While immigrants don’t have exactly the same access to credit as u.s citizen. Sometimes it is difficult to understand the rates and terms that institutions offer and most important finding a lender that fully meets the criteria according to the terms and conditions suitable for the relevant circumstances, which is the most important step. With a proper understanding of the conditions, the student may get their degree and commence the loan as soon as possible.