External Private Loan Sources

A loan is a type of debt. Funds are borrowed for use over a period of time. The money must be repaid according to the terms agreed upon by both borrower and lender, including the interest rate, payment amount and the time frame over which the loan is to be repaid. Loans must be repaid with interest and are usually only granted if the borrower has a reliable method of repayment.

Most commercial loan programs, but not all, require a student borrower to have a co-signer – a person with a steady income who will become responsible for repaying the loan if the student is not able to do so. Loans without a co-signer regularly come with higher interest rates


External Private Student Loans

Some banks allow international students with a qualified U.S. citizen or permanent resident co-signer to apply for loans.  A co-signer is an individual who signs a loan agreement along with the borrower and assumes equal responsibility for repayment; essentially they are responsible for repaying the balance of the loan or debt in the event that the applicant does not.

If you are able to find one a co-signer loan generally comes with a lower interest rate.


UC Lender Lists for Private Loans

Private loans (also known as alternative loans) can help to fill the gap between the cost of education and the amount of other financial aid offered. However, you should always maximize all other resources, which have lower interest rates and better loan terms.

The University of California System offers private lender lists as guides for students and parents, but you're free to use any lender of your choice.

  • Follow the instructions provided by your selected lender, who will notify you of your loan application status and any approved amount.
    • You’ll be required to sign a promissory note, a document that confirms your agreement to repay the loan.
  • Remember that fees and repayment terms vary among lenders.
  • All lender lists are in PDF format.

DISCLAIMER: The University of California – San Diego and the International Students & Programs Office (ISPO) does NOT endorse any lender(s) on the list, nor does it take responsibility for repayment of any loan(s) a student may take out. Financial liabilities lie solely with the student and co-signer, if applicable. Using private loans is an expensive option – borrow only what you truly need.

  • UC Private Lender List                        When selecting a program choose “International”

No Co-Signer Option

On the UC Private Lender List there is one lender that does not require a co-signer.

MPOWER helps international students from over 180 countries studying in the US by offering educational loans that do not require co-signers, collateral, or a US-based credit history. They consider your academic success and career path in the approval process. For more information, please visit the MPOWER website.