Loans from your home country

Find out if you are eligible to take out a loan in your home country. Contact your federal government or an educational advisor in your country to learn your options.

Private loans

You may be able to secure student loans from a private lender to support your education. Private loans are granted by non-IU affiliated lending institutions.

Before you investigate private loan funding in the United States, consider whether you are eligible for loans in your home country.

How does a private loan work?

You will borrow a private loan in your name, but because loan approval depends on a credit check, you will probably need to find a U.S. citizen or permanent resident to co-sign the loan with you.

Do your research. The terms, conditions, and eligibility requirements vary widely for private loans, so it is important to carefully consider the full financial implications before you borrow.

How do I find a private lender?

You have the right to select the private lender of your choice. Neither IU nor the Office of International Services (OIS) is liable for the services provided by the lender you choose.

There are many online resources that provide information about private loans. Here are a few:

  • At IU, Student Central on Union can help you identify private loan sources.
  • International Student Loan Center provides access to loans to international students with a co-signer who is a U.S. citizen or permanent resident.
  • Global Student Loan Corporation and the HSBC Bank of India have designed an international student loan program to provide funding to students from India to attend U.S. colleges and universities. A U.S. citizen or permanent resident co-signer is not required, but you must find a co-signer in India.

Always carefully consider the terms of a loan before you borrow, and investigate other funding sources, such as scholarships and fellowships. Never borrow money that you cannot pay back.