Top 5 U.S. Banks Offering Loans to International Students Without a Credit Score

 

Top 5 U.S. Banks Offering Loans to International Students Without a Credit Score

For many Nigerian students, getting admitted into a U.S. university is only half the battle. The real challenge begins when it’s time to pay. Tuition, housing, books, insurance — the numbers add up fast.

And if you’ve already explored your options, you probably came across this phrase again and again:

“You must have a credit score.”

That single sentence is the reason many brilliant students give up their study abroad dreams.

But the truth is, you don’t always need a U.S. credit score to get a student loan — not anymore.

As demand from international students has grown, a new wave of banks and fintech lenders have stepped in with solutions that don’t rely on traditional credit history. Instead, they look at your future potential, your course of study, or your enrollment at specific U.S. universities.

If you're a Nigerian student planning to study in the U.S., this guide is for you.

Here are the top 5 banks and financial institutions offering student loans without requiring a U.S. credit score or Social Security Number (SSN).

1. MPOWER Financing

Headquarters: Washington, D.C.
Loan Range: $2,001 to $100,000
Eligibility: Undergraduate and graduate students from 190+ countries

MPOWER Financing is easily one of the most trusted lenders for international students. The company is not a traditional bank, but they partner with banks to offer unsecured education loans to students — without needing a cosigner, credit history, or collateral.

Why it works:

• Loans are approved based on your school, degree program, and future income potential

• Available at 400+ universities across the U.S.

• Repayment terms of 10 years with fixed interest rates

• Offers free career support and visa guidance

MPOWER even has scholarship opportunities exclusive to international students — which can help reduce how much you need to borrow.

Best for: Students from Nigeria in graduate programs like STEM, business, or public policy.

2. Prodigy Finance

Headquarters: London (U.S. operations available)
Loan Range: Up to 100% of cost of attendance
Eligibility: International graduate students at top-ranked universities

Prodigy Finance is another big name in the space of credit-free lending. It focuses on postgraduate students (no undergrads), and provides loans to those admitted into a recognized program, especially MBAs, tech, law, or healthcare.

Highlights:

• No credit score or SSN required

• Based on the school’s reputation and your future income potential

• Fixed and variable interest options

• No prepayment penalty

Their network spans over 850 schools in the U.S., Canada, and Europe. Once you're admitted into a qualifying university, you can apply even before you leave Nigeria.

Best for: Graduate students going for high-earning careers in tech, business, or engineering.

3. Discover Student Loans

Headquarters: Riverwoods, Illinois
Loan Range: Up to 100% of education costs
Eligibility: International students with or without a cosigner (in select cases)

Discover is one of the few major U.S. banks that actively works with international students, especially those attending partner universities.

Typically, Discover requires a cosigner, but in specific partner-school cases, it waives credit history requirements based on visa and school documentation.

What to know:

• Offers 0% fees and competitive fixed rates

• 1% cash reward for good grades

• Loan forgiveness in case of death or permanent disability

To apply without a credit history, you usually need to:

• Be accepted to a recognized U.S. institution

• Have a U.S.-issued visa

• Submit school-certified cost of attendance documents

Best for: Well-prepared international students at schools with existing Discover loan arrangements.

4. Sallie Mae (With School Certification)

Headquarters: Newark, Delaware
Loan Range: Up to 100% of education costs
Eligibility: International students through certified universities

Sallie Mae is a legacy name in the U.S. education loan space. While they usually require a U.S. cosigner, some Nigerian students have successfully applied through school-based financial aid offices that pre-certify enrollment and visa status.

These “certified loans” let universities verify your documents and serve as intermediaries, which allows Sallie Mae to offer loans without directly relying on your credit score.

Benefits:

• Competitive fixed and variable interest rates

• 6-month grace period after graduation

• Covers tuition, living expenses, books, and even a laptop

Check with your university's financial aid office to see if they offer Sallie Mae-certified loans for international students.

Best for: Students already enrolled at larger U.S. universities with active financial aid partnerships.

5. Earnest (Partnered with U.S. Schools)

Headquarters: San Francisco, California
Loan Range: $1,000 – $250,000
Eligibility: Graduate students at approved schools

Earnest is a rising name in the loan space, especially among graduate programs. While most of its operations are geared toward U.S. residents, Earnest has worked with schools to open international access in tech-forward institutions.

Their model is focused on:

• Financial need

• School reputation

• Earning potential post-graduation

They don’t use traditional credit scoring but rely on a data-driven approval process that pulls in factors like employment potential and degree ROI (return on investment).

Best for: Tech and business graduate students with strong admission letters.

Tips to Boost Your Loan Approval Odds (Without a Credit Score)

If you're applying from Nigeria or any other international location:

• Choose a well-ranked U.S. university — lenders trust strong institutions

• Go for STEM, Business, Law, or Healthcare programs — higher income potential = higher loan approval odds

• Prepare documents early: visa, admission letter, passport, income plans

• Apply to multiple lenders to compare terms

• Add a partial scholarship or grant — even if small, it shows responsibility

Final Thoughts

For years, international students without a U.S. credit score were locked out of education financing. But in 2025, that’s no longer the case.

Thanks to new lending models that evaluate who you are and where you're going, Nigerian students now have access to real funding — with no cosigner and no credit history.

Before you give up on your dream because of finances, take a second look at:

• MPOWER

• Prodigy Finance

• Discover

• Sallie Mae (via school)

• Earnest (graduate programs)

Each has its own strengths, so choose the one that best fits your program, goals, and budget.