🏦 Page 1 of 4

Education loans with no collateral

No property to pledge, nobody abroad to sign for you. Some lenders will still lend — against what you are likely to earn, not what your family owns.

📉 What it costs
Interest rate

11% – 17%

Typical APR with no collateral and no co-signer. A secured loan from a bank at home is usually much cheaper — try that first.

🚫 What you do not need
No security

4 things

Property or land to pledge · A co-signer abroad · A credit history in the destination country · A guarantor with a salary slip.

What would you pay back each month?

Move the sliders. Nothing you enter leaves your browser.

How much you borrow $40,000
Interest rate 15.0% No-collateral loans usually sit between 11% and 17%.
Years to repay 10 years
Before repayments start 24 months Your course plus any grace period. Interest still builds during it.
$0 a month, once repayments start
Borrowed $0 Interest $0
Total you repay$0
That is—

Interest is added while you study, then the monthly figure is worked out on that larger balance — which is how these loans actually run. An estimate for planning, not a quote, and not financial advice.

Lenders that ask for no collateral and no co-signer

The two best-known options for international students. We take no money from either — figures are quoted from their own sites and change often, so confirm before you apply.

MPOWER Financing

Not taking new loans for 2026 — waitlist only
Collateral or co-signer
Neither required
How much
US$2,001 to US$100,000 in total, fixed rate
Where you can study
50+ eligible universities in the US and Canada
Who can apply
Citizens of 150+ eligible countries
Rates
From 9.99% (10.89% APR), including a 0.25% discount for automatic payments

Checked 1 October 2026 against MPOWER Financing.

Prodigy Finance

Masters degrees only
Collateral or co-signer
Neither required (their terms apply)
How much
Up to US$220,000, depending on eligibility
Where you can study
Masters courses in countries including the US, UK, Germany, France, Canada and Australia
Who can apply
International masters students at the schools and courses they support
Rates
Variable, from 10.75%; their representative example is 13.26% APR

Checked 1 October 2026 against Prodigy Finance.

Neither suits you? A secured loan from a bank in your own country is usually far cheaper, if your family can offer security. Ask there first.

What they check instead

A student loan application with no security rests on five things. Miss the first and nothing else counts.

An offer letterFrom a university on the lender’s approved list. No offer, no loan — this is the one that stops most people.
Your course and schoolThey lend against your future earnings, so a masters at a well-ranked university gets better terms than an unranked diploma.
Passport and visaOr proof the visa application is underway.
Academic transcriptsTranslated and certified if they are not in English.
A bank accountIn your own country to start. You will open one in your destination after you arrive.

Checked 7 September 2026 against LendEDU — MPOWER and Prodigy Finance reviews, 2026.

Questions about education loans

How do I get an education loan without collateral?

You apply to a lender that assesses your future earnings rather than your family’s assets. An education loan with no collateral needs a university offer letter, your transcripts and a passport — not property, and not a co-signer abroad.

The catch is the rate. Unsecured student loans cost more than secured ones, because the lender carries the risk.

What are the requirements for a study loan?

The student loan requirements that matter: an offer from a university on the lender’s approved list, certified transcripts, a passport, and a visa application under way. Some lenders add a minimum course length or restrict which subjects they will fund.

Student loan criteria vary by lender, so being rejected by one says little about the next.

Are there government loans for students studying abroad?

Sometimes, and they are almost always cheaper. Several countries run a government student loan scheme for citizens studying overseas — India, Nigeria, Kenya, Sri Lanka and others have one in some form.

Check your own government’s scheme before any private lender. The interest on a government loan for students is usually a fraction of a commercial rate.