Funding Through Student Loans
Understanding student loans, MPOWER Financing, and how to think about debt.
When Full Funding Is Not Available#
The reality is that not every student will find a fully funded Master's program. Some programs offer partial scholarships, and some offer no funding at all. In these cases, you may need to consider student loans.
This chapter will help you understand your options, especially as an international student.
What Is a Student Loan?#
A student loan is money you borrow to pay for your education. You must pay it back after you graduate, usually with interest. The interest means you will pay back more than you borrowed.
Student loans can cover tuition, living expenses, books, and other costs. They are common in America, where many domestic and international students use loans to finance their education.
Loans for International Students#
Most American federal student loans are only available to U.S. citizens and permanent residents. As an international student, you typically cannot access these. However, there are private loan companies that serve international students.
Some private lenders require a cosigner, which is an American citizen or permanent resident who agrees to pay back the loan if you cannot. Finding a cosigner can be difficult if you do not know anyone in America.
Other lenders do not require a cosigner at all, which makes them more accessible for international students.
MPOWER Financing#
MPOWER Financing is a loan company that provides loans to international students studying in America. They do not require a cosigner or collateral. This makes them one of the most accessible loan options for international students who do not have American connections.
MPOWER offers loans for students at approved universities across America. They evaluate your application based on your future earning potential, not just your current financial situation.
Key features of MPOWER:
- No cosigner required
- No collateral required
- Fixed interest rates
- Loans available for tuition and living expenses
- Available to international students from many countries
You can learn more and apply at MPOWER Financing.
Questions to Ask Before Taking a Loan#
Before you borrow money, ask yourself these questions:
How Much Will It Cost in Total?#
Calculate the total cost of your program. Include tuition, fees, living expenses, health insurance, books, and travel. Then look at the loan terms to understand how much you will actually pay back with interest over time.
Can You Afford the Payments?#
After graduating, you will need to make monthly loan payments. Research the average starting salary for graduates of your program and field. Consider whether the degree will increase your earning potential enough to justify the debt.
What Are the Terms?#
Understand the interest rate, repayment period, grace period (time after graduation before payments begin), and any fees. Compare offers from multiple lenders.
What Is Your Backup Plan?#
What happens if you cannot find a job immediately after graduating? Can you still make payments? Understanding the risks before you borrow is essential.
Combining Funding Sources#
Not every student's situation is all-or-nothing. Some students combine partial scholarships with loans. Others work part-time while studying to reduce how much they need to borrow.
Here are some strategies:
- Partial scholarship plus loan: If a program offers you a 50% tuition scholarship, you only need to borrow for the remaining 50% plus living expenses.
- Assistantship plus loan: Some students receive an assistantship that covers tuition but not living expenses. A small loan can cover the gap.
- Part-time work: International students on F-1 visas can work on campus for up to 20 hours per week during the semester. This can help cover day-to-day expenses.
- Summer work: During summer breaks, you may be eligible for full-time employment through Curricular Practical Training (CPT).
The Bottom Line#
Loans are a tool, not a solution for everyone. Borrow only what you need, understand the terms, and have a realistic plan for repayment. If you can find a fully funded program, that is always the better option. But if a loan is the difference between getting a degree that transforms your career and not going at all, it can be worth it, as long as you make an informed decision.
Related Guides#
- MPOWER Financing Review 2026: Student Loans for International Students (No Cosigner)
- MPOWER Financing: Get Up to $100K Student Loans Without Cosigner
- Best Student Loans for International Students in 2026 (No Cosigner Options)
Related Videos#
Chapter Quiz
Answer all questions correctly to unlock the next chapter.
1. What is MPOWER Financing?
2. What should you calculate before taking a student loan?
3. Can students combine partial scholarships with loans?