International students who want to study in the United States often discover that federal financial aid is off the table, which pushes many toward private lenders that specifically underwrite loans for noncitizens. Getting one of these loans approved comes down to a handful of steps: confirming eligibility, lining up a qualified co-signer, comparing lenders, gathering documents, and submitting an application before a strict school deadline.
Step 1: Confirm You Meet Basic Eligibility
Before applying anywhere, check whether you actually qualify. Most private lenders require that you attend a Title IV accredited, not-for-profit, four-year institution in the U.S., and that you're enrolled at least half-time. Some lenders, like Ascent, specifically serve borrowers who are not U.S. citizens or permanent residents and who don't hold DACA status, while others, like SoFi and Juno, welcome DACA recipients and asylum seekers directly. Earnest requires a physical U.S. address and either a Social Security number or an Individual Taxpayer Identification Number, but not a co-signer's SSN if you don't have one yourself.
Step 2: Line Up a Qualified Co-signer (If Required)
This is usually the biggest hurdle. Most lenders, including Earnest, Ascent, and Citizens Bank, require international borrowers without permanent residency to apply with a co-signer who is a U.S. citizen or permanent resident. Earnest sets the bar at a credit score of 650 or higher, at least three years of credit history, and annual income of at least $35,000. Ascent and Citizens Bank have their own versions of these income and credit checks. SoFi stands apart here: it does not require a co-signer for DACA status or international borrowers who are refinancing, though having one can still improve your rate. Juno also allows applications without a co-signer, but notes that borrowers who add one often land better terms.
Step 3: Compare Lenders on Rates, Fees, and Loan Limits
Rates and borrowing limits vary widely across lenders serving this market. Here's how the main options stack up based on current published ranges.
| Lender | Average APR Range | Average Loan Amounts | Grace Period |
|---|---|---|---|
| Earnest | 2.29% to 16.60% | $1,800 to $132,000 | 9 months |
| Juno | 4.31% to 11.27% | $2,300 to $193,000 | 9 months |
| Ascent | 2.69% to 16.86% | $2,001 to $40,000 | Up to 36 months |
| Citizens Bank | 4.11% to 14.28% | $2,800 to $241,000 | 6 months |
| SoFi | 3.99% to 9.99% | $1,800 to $182,000 | 6 months |
None of these five charge an origination fee, though Ascent and Citizens Bank both allow for late payment fees of up to $25. Earnest and Juno advertise no fees at all, including no late or returned payment charges. Grace periods, the window after graduation before repayment starts, range from six months at SoFi and Citizens Bank up to 36 months for medical school graduates at Ascent.
Step 4: Gather Documentation Before You Apply
Each lender wants proof of your immigration status alongside standard financial paperwork. SoFi asks refinance applicants to show documentation of immigration status, employment, income, and other financial details, plus confirmation that you attended an accredited Title IV school. If you're applying with a co-signer, gather their income verification and credit history too, since lenders will pull a hard credit check on that person. Juno operates differently: it functions as a broker rather than a direct lender, matching you with a partner lender only after you create an account and review offers, so budget extra time for that signup step before you see actual terms.
Step 5: Apply and Choose a Repayment Plan
Once you've picked a lender, the application itself typically takes under an hour online, though final approval and fund disbursement to your school can take one to three weeks depending on the lender and your school's certification process. At that point you'll also select a repayment structure. Options generally include full payments while enrolled, interest-only payments, deferred payment (interest still accrues), or, in Earnest's case, a fixed $25 monthly payment while you're a student on your own loan. SoFi offers repayment terms stretching from five to 20 years, the longest range among these lenders, which can lower monthly payments but increase total interest paid over time.
Costs, Discounts, and Where Rates Can Add Up
Interest rates for these loans can be fixed or variable, and the spread between minimum and maximum APR is wide. Earnest's ceiling of 16.60% and Ascent's 16.86% are among the highest in this comparison, meaning a borrower with weaker credit or a thinner co-signer profile could end up paying substantially more than the advertised minimum. Autopay discounts of 0.25% show up at Ascent, Citizens Bank, and SoFi, and SoFi layers on an additional 0.125% discount for members of its SoFi+ program. Citizens Bank also knocks 0.25% off if you or your co-signer already banks there. Ascent sweetens the deal further with a graduation reward of 1% cash back on your loan balance, capped at $50,000, plus a $250 Amazon gift card for successful referrals.
Common Pitfalls to Avoid
- Assuming every lender treats DACA and asylum status the same way: SoFi and Juno have specific pathways, but requirements around work authorization and pending permanent residency applications differ.
- Underestimating how much a co-signer's credit profile affects your rate. A co-signer just above the minimum threshold, such as Earnest's 650 score, may still only unlock a rate near the higher end of the range.
- Overlooking the grace period mismatch. A six month grace period at SoFi or Citizens Bank leaves less cushion after graduation than the nine months Earnest and Juno offer, or the 36 months Ascent gives medical graduates.
- Forgetting that Citizens Bank's lifetime aggregate limits ($225,000 for most undergrad and grad borrowers, up to $400,000 for some medical students, and refinancing up to $750,000) include any federal loans you already hold.
Which Lender Fits Which Borrower
There's no single best answer, since the right lender depends on your specific status and needs. Earnest suits borrowers without a co-signer requirement complication who want low fees and flexible in school payment options. Juno's appeal lies in its resources tailored to DACA recipients and its broker model that shops your profile across partner lenders. Ascent is the pick for borrowers needing a specialty loan, such as for medical, dental, veterinary, or bootcamp programs, or a co-signer path built specifically for international and DACA exclusions. Citizens Bank works for those who need very high loan ceilings or multi-year loan planning. SoFi remains the standout for refinancing existing student debt, thanks to its low advertised rates and repayment terms stretching up to 20 years.