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Students on campus on a sunny dayUS-Based Loans - UK-Based Loans - International Loans

As the cost of higher education rises in the US and UK, more students require loans to fund all or part of their studies, which may be available from a lender in the US or UK.

When considering a loan to finance education, be sure to examine carefully all of the terms and conditions of the loan. Explore repayment options, as the conditions of each loan scheme will vary. Interest rates may also add to the total cost of the loan, particularly if it is accrued while you are studying. Although you might find all of the general information about costs and interest rates when enquiring about a particular loan scheme, it is important to read the fine print before signing any agreement.

US-Based Loans

The availability of US-based loans for non-US citizens is limited. In almost all cases, US-based loan programmes require non-US citizens to have a creditworthy US citizen or permanent resident to act as a co-signer. If you believe you are eligible for a loan from a US-based lender, please contact the financial aid office of the US University at which you intend to study. The office will likely maintain a list of lenders commonly used by students.

Please note, if you (the student) are an American or dual US-UK citizen, you can apply for US federal loans through the FAFSA website.

UK-Based Loans

Given the limited availability of loans from US banks, UK students requiring loans tend to apply for a personal loan from a UK bank and use it toward US study.

Career Development Loans (CDL) may also be available for students who meet the following criteria: are pursuing a professional or vocational course; intend to return to the UK/EU to live, train, or work; are not receiving funding from another UK government source; and attend a university that is registered with the Learning and Skills Council (LSC). The LSC operates the loan scheme in conjunction with Barclays, Co-operative Bank and the Royal Bank of Scotland.  Courses may be full-time, part-time, or distance learning and may be used for up to two year’s duration. A university may register with the Learning and Skills Council free of charge. For additional information about eligibility and application procedures, please see the DirectGov webpage on Career Development Loans, or pick up a brief guide to the CDL scheme from any of the participating banks.

International Loans

Some international loan providers can disburse loans to UK students at US universities through their institution’s financial aid office. An example of such a provider is Prodigy Finance. Please note the US-UK Fulbright Commission – EducationUSA does not endorse any loan provider and cannot advise on financial products.