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Loan Options for Pakistani Graduate Students Pursuing Higher Education in the US

Many Pakistani students aspire to pursue higher education in the United States, but the associated costs can be quite substantial. Thankfully, there are several loan options available to alleviate this financial burden. This blog outlines various loan options, featuring international private loan providers like Prodigy Finance, MPOWER Financing, and other alternatives.

1. Prodigy Finance

Prodigy Finance is a leading international private loan provider offering loans to international graduate students. They cater to students from over 150 countries who are admitted to top universities around the world.

Key Features:
  • No co-signer or collateral is required
  • Loans are based on future earning potential.
  • Competitive interest rates.
  • Grace period post-graduation before repayment begins.
Eligibility:
  • Admitted to a postgraduate program at one of the universities supported by Prodigy Finance
  • From a country supported by Prodigy Finance, including Pakistan
How to Apply:
  • Visit the Prodigy Finance website and create an account.
  • Fill out the application form with your personal, financial, and academic details.
  • Upload the necessary documents, and wait for the loan assessment and approval.

2. MPOWER Financing

MPOWER Financing provides loans to international students without requiring a co-signer or collateral and supports students from over 190 countries.

Key Features:
  • No co-signer or collateral required.
  • Interest rate discounts available for automatic payments, on-time payments, and proof of graduation or employment
  • Loans can cover tuition, housing, meals, insurance, and other education-related expenses.
Eligibility:
  • Admitted to one of the 400+ schools supported by MPOWER Financing in the US or Canada.
  • International student, DACA recipient, or US citizen/permanent resident.
How to Apply:
  • Visit the MPOWER Financing website and create an account.
  • Complete the online application and provide the necessary documentation.
  • Once approved, review and accept the loan offer.

3. Ascent Funding

Overview:
Ascent Funding offers student loans to both US citizens and international students with a US co-signer. They focus on providing loans that help students achieve their educational goals.
Key Features:
  • Fixed and variable interest rate options.
  • Loans without a co-signer (for qualifying students).
  • Flexible repayment options.
  • Discounts for automatic payments.
Eligibility:
  • Enrolled at least half-time in a degree program at an eligible institution.
  • International students need a US co-signer.
How to Apply:
  • Visit the Ascent Funding website and check eligibility.
  • Complete the online application.
  • Submit required documents for loan processing and approval.

4. Discover Student Loans

Overview:
Discover offers private student loans to international students with a US citizen or permanent resident co-signer. They provide loans for undergraduate and graduate programs.
Key Features:
  • Confirm your acceptance online
  • You may need to sign a promissory note and other legal documents electronically.
Eligibility:
  • International students must have a creditworthy US co-signer.
  • Enrolled at least half-time in an eligible school.
How to Apply:

Take Aways

Prodigy Finance and MPOWER Financing are the most popular funding choices for international students as they do not require a co-signer or collateral. Ascent Funding and Discover Student Loans offer competitive loan options but require a co-signor.