Loans for International Students in the UK: Requirements & Rankings

Studying in the UK is prestigious, and expensive. International tuition fees typically range from $15,000 to 45,000 (£12,000 to 35,000) per year, and that’s before accommodation, visa costs, health coverage, transport, and daily living expenses.

Unlike UK citizens, international students are not eligible for UK government student loans through Student Finance England, Wales, Scotland, or Northern Ireland. So, which student loans are available to international students in the UK?

This post focuses exclusively on verified lenders that finance international students attending UK universities. We selected these loans based on:

• Confirmed availability to international students.
• Transparent eligibility criteria.
• Recognised UK university partnerships.
• Realistic borrowing limits.
• Clearly defined repayment structures.

You’ll notice a pattern as we go through them. Most international student loans in the UK fall into two categories:

1. Lenders that require a co-signer.
2. Lenders that do not.

That distinction affects approval odds, interest rates, and total repayment cost. Now let’s go through the strongest options available.

Prodigy finance

Prodigy finance is one of the most established lenders for international postgraduate students in the UK. It specialises in funding master’s degrees especially MBA, engineering, business analytics, law, and other high-demand programs.

It does not require a co-signer, which makes it accessible to students without family in the UK.

Application process

The entire application process is completed online and available to students from over 150 countries. Students apply directly through Prodigy’s website after receiving an offer from a supported university. No in-person branch visit is required.

Eligibility requirements

• Must be admitted to an eligible UK university (Prodigy maintains a pre-approved list).
• Must be enrolled in an approved postgraduate program (1 – 2 years).
• No co-signer required.

Loan amount

• Can cover up to 100% of tuition fees.
• Sometimes includes limited living expenses.
• No universal cap, depends on the program and funding cycle.

Interest rate and repayment terms

• Variable interest rate.
• Rate fluctuates with global capital markets.
• Interest accrues during study.
• No repayments during study in most cases.
• 6-month grace period after graduation.
• Repayment term: typically 7 – 20 years.

Insurance 

No insurance.

MPOWER

MPOWER financing supports international students studying in select UK universities. It’s a U.S.-based fintech lender, and it operates in partnership with select UK universities. It requires no co-signer nor collateral.

Application process

The entire application process is completed online and available to students from over 100 countries. Students apply directly through MPOWER’s website after receiving an offer from a supported university. No in-person branch visit is required.

Eligibility requirements

• Must be admitted to an eligible UK university (MPOWER maintains a pre-approved list).
• Must be enrolled in an approved postgraduate program (1 – 2 years).
• No co-signer required.
• Citizenship from supported countries.

Loan amount

• Up to approximately £50,000 – 75,000 equivalent (varies by program and funding terms).
• Often structured to support only tuition.

Interest rate and repayment terms

• Fixed interest rate.
• Generally higher than UK bank lending.
• Interest accrues during study.
• Interest-only payments during study.
• 6-month grace period after graduation.
• Repayment term of 10 years.

Insurance 

No insurance required

Sallie Mae

Sallie Mae provides loans to US citizens studying abroad at approved UK universities through its Smart Option Student Loan. It’s important to note that this is only available to US citizens and eligible non-citizens, not all international students, and covers all degree programs.

Application process

• Apply online through Sallie Mae’s portal.
• Many UK universities like University of Westminster and University of Hull have established procedures to certify and process Salie Mae loans for their students.
• After submitting an application and cost documentation, the university’s financial aid office often certifies the loan amount to match the school’s Cost of Attendance (COA).
• Sallie Mae disburses funds to the school or directly to the student’s account, after which the student pays tuition and other approved costs.

Eligibility requirements

• US citizen or eligible non-citizen.
• Enrollment at a UK institution approved for Sallie Mae funding.
• Proof of acceptance and a Cost of Attendance calculation from the university.
• A co-signer is usually needed with a strong credit history (a U.S. based individual).

Loan amount

• The amount depends on the student’s cost of attendance—total expected costs for tuition, room and board, books, supplies, and living expenses.

Unlike some private lenders that cap loan amounts arbitrarily, Sallie Mae bases it’s limits directly on your documented costs for that academic year.

Interest rate and repayment terms

• Interest accrues during study.
• Repayment structures vary, but typical terms include:
  • Deferred Payment: Payments begin after graduation.
  • Interest-only while studying : You pay only interest during school.
  • Immediate repayment: Start principal + interest payments right away.

Rates depend on co-signer credit and whether you choose fixed or variable. Private loans through Sallie Mae carry higher rates than subsidized government loans, but better compared to other private options depending on market conditions and credit profiles.

Insurance 

Insurance is optional.

Future finance

Future finance was established to provide private student loans to help bridge the gap between tuition costs and available funding. It operates primarily in the UK market, lending to domestic and international students. Unlike public student loans (which UK citizens can access through government schemes) Future Finance is not subsidized by and operates on a commercial lending model.

Application process

Application is carried out online, and involves multiple verification steps:

1. Identity and documentation:

• Passport or government issued ID.
• Proof of UK address or visa status.
• Confirmation of course and enrollment.

2. Affordability assessment:

• Employment income.
• Bank statements.
• Guarantor income and credit history.

3. Credit evaluation:

Your financial risk is assessed based on future income projections, existing obligations, and guarantor strength.

International students must provide a guarantor with strong UK/European credit history to be approved.

Eligibility requirements

• Full acceptance into a UK university degree programme.
• Proof of admission and student status.
• Guarantor requirement:

International applicants need a UK-based guarantor – someone resident in the UK with sufficient income and credit history.

• 18+ years of age.
• Full-time undergraduate or postgraduate degrees.

Loan amount

Loan amounts are not fixed across the board. They are based on 

• Confirmed Cost of Attendance (COA).
• Creditworthiness of borrower + guarantor.
• Affordability assessment.

Interest rate and repayment terms

During the course

• Interest accrues from disbursement.
• Some students make interest-only payments.
• Minimum payment plans may be offered.

After graduation

• Principal + interest repayment begins.
• Terms typically range 5 to 15 years.
• Monthly payments depend on rate and loan size.

Insurance 

Insurance is optional.

Lendwise

Lendwise specialises in financing postgraduate and professional education, including MBA programs, master’s degrees, and certain specialized courses.

It operates differently from broader private lenders, it employs a risk and future earnings assessment and may offer both fixed and variable interest rate structures. It has financed international students entering UK universities but often incorporates stricter controls and detailed affordability assessment.

Application process

• Online submission.
• Identity and eligibility verification.
• Course validation with the university.
• Credit and income assessment.
• Potential guarantor requirement.

Lendwise does not simply approve every eligible student, it assesses each credit risk.

Eligibility requirements

• Accepted for full-time postgraduate study at an approved UK university.
• Valid visa and academic documentation.
• Ability to demonstrate repayment capacity (through personal or guarantor income).
• A UK guarantor may be required, depending on nationality and income profile.

Loan amount

• Typically, Lendwise lends tuition amounts and may support partial living costs, but the full cost of attendance is not always guaranteed.

For example:

• MBA students might borrow £30,000 – 60,000+.
• Other master’s programmes may qualify for similar ranges.
• Amounts vary per individual.

Unlike some private lenders that cap loan amounts arbitrarily, Sallie Mae bases its limits directly on your documented costs for that academic year.

Interest rate and repayment terms

• Interest accrues during the study period.
• Repayment begins after graduation with a short grace period of 6 months.
• Repayment terms range from 7 – 15 years depending on the programme.

Insurance 

Insurance is optional.

Important: If you are a frequent traveler and want to stay connected without worrying about expensive roaming or looking for a new SIM at every destination, Holafly’s subscription plans are for you. With a single eSIM, enjoy internet in more than 160 countries for a fixed price and no surprises on your bill. Travel without limits and connect easily and securely! 🚀🌍

Choosing the best international student loan in the the UK

Take a breath and read this carefully:

International student loans in the UK do not work like the UK government loans. There’s no student finance equivalent for foreign nationals. UK banks won’t lend to you on the strength of your student status alone unless you have residency history.

If you walk into this thinking “I’ll just get a loan like domestic students do”. you’re going to be disappointed. The reality is more like this:

You build your loan picture from bits and pieces, a private lender covering tuition, a portion of living expenses, and a repayment plan you can manage once you graduate. A co-signer often makes access easier and interest cheaper, without one, you pay a premium for accessibility.

Student loans for international students in the UK is not a one-size-fits-all system. It’s a patchwork of options that require careful planning and honest financial projections. But when you understand the landscape, you can make sensible decisions.

Plans that may interest you

eSIM Japan

Queendaline Akaemeuwa

English Copywriter

English Copywriter at Holafly, I'm committed to sharing tips that will make your travel experiences memorable.  Over the years as a writer and strategist, I've managed teams across multiple industries - SaaS, tech, real estate, and personal brands. I wrote my first book as a child and have been writing ever since, cooking and reading are a few ways I explore my world.

Read full bio

Related reading