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Best Student Loans for Studying Abroad in August 2025

You can use federal and private student loans to cover the cost of study abroad programs.

Author
By Jamie Johnson

Written by

Jamie Johnson

Freelance writer

Jamie Johnson has over eight years of finance experience, with expertise on mortgages, student loans, and small businesses. Her work has been featured at Credit Karma, Bankrate, and The Balance.

Written by

Jamie Johnson

Freelance writer

Jamie Johnson has over eight years of finance experience, with expertise on mortgages, student loans, and small businesses. Her work has been featured at Credit Karma, Bankrate, and The Balance.

Edited by Renee Fleck

Written by

Renee Fleck

Renee Fleck is a student loans editor with over six years of experience. Her work has been featured in Fast Company, Morning Brew, and Sidebar.io, among other online publications. She is fluent in Spanish and French and enjoys traveling to new places.

Written by

Renee Fleck

Renee Fleck is a student loans editor with over six years of experience. Her work has been featured in Fast Company, Morning Brew, and Sidebar.io, among other online publications. She is fluent in Spanish and French and enjoys traveling to new places.

Reviewed by Richard Richtmyer

Written by

Richard Richtmyer

Richard Richtmyer is a senior editor with over 20 years of finance experience. He's an expert on student loans, capital markets, investing, real estate, technology, business, government, and politics.

Written by

Richard Richtmyer

Richard Richtmyer is a senior editor with over 20 years of finance experience. He's an expert on student loans, capital markets, investing, real estate, technology, business, government, and politics.

Updated August 13, 2025

Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as “Credible.”

Featured

Interest in studying abroad is growing fast. Nearly 50% more U.S. students studied abroad for credit in the 2022-23 academic year compared to the year before, according to NAFSA: Association of International Educators.

If you need help covering the cost of study abroad, student loans can help. Federal student loans are the best place to start, but they typically won't cover your full program expenses. To fill the gap, College Ave and Sallie Mae offer some of the best private student loans for studying abroad, due to their low interest rates and flexible repayment options.

Here's a look at the best student loans for studying abroad and how you can reduce your total borrowing costs.

Current private student loan rates

Can you get student loans to study abroad?

Both federal and private student loans can be used for study abroad programs. However, federal loans have annual borrowing limits that may fall short of your needs.

“Federal aid may not cover the full cost of studying abroad, especially when factoring in travel, living expenses, and currency fluctuations,” says Ohan Kayikchyan, certified financial planner and doctor of economics.

That's where private student loans can help. Most private lenders let you borrow as much as the full cost of attendance, including flights, housing, and other expenses. So if you've maxed out your federal aid, a private loan can help cover the gap.

Editor insight: “I recommend building a detailed budget early so you know exactly how much money you'll need. Studying abroad isn't one-size-fits-all. Your destination, program length, travel dates, and day-to-day spending habits all play a role in your overall cost.”

— Richard Richtmyer, Senior Student Loans Editor, Credible

Best private student loans for studying abroad

Advertiser Disclosure

We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.

College Ave: Best for Extended Grace Periods

College Ave

4.8

Credible Rating

To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.

on Credible's website

Min. Credit Score

Does not disclose

Fixed APR

2.89 - 17.99%

Variable APR

4.24 - 17.99%

Loan Amount

$1,000 up to 100% of the school-certified cost of attendance

Term

5, 8, 10, 15 (20 for health professionals)

Expert Insights

College Ave offers a wide range of borrower-controlled features that makes it especially compelling for those who want predictability and planning power with their student loans. From 5 to 20-year terms and multiple in-school payment options to profession-specific grace periods, College Ave offers more structure and flexibility than many of its competitors.

Advertiser Disclosure

We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.

Sallie Mae: Best for Specialized Loans

Sallie Mae

4.4

Credible Rating

To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.

on Credible's website

Min. Credit Score

Does not disclose

Fixed APR

2.89 - 17.49%

Variable APR

4.37 - 16.99%

Loan Amount

$1,000 up to 100% of school-certified cost of attendance

Term

10 - 20

Expert Insights

Sallie Mae stands out from the competition with one of the broadest selections of specialized private student loans on the market. Loans cover everything from undergraduate degrees to medical residencies, bar study, flight training, and trade schools. This makes Sallie Mae a good option for students pursuing specialized or less traditional educational paths.

Advertiser Disclosure

We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.

Citizens: Best for Multiyear Approval

Citizens

4.3

Credible Rating

To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.

on Credible's website

Min. Credit Score

640

Fixed APR

3.24 - 14.99%

Variable APR

4.99 - 15.47%

Loan Amount

$1,000 to $400,000 (depending on degree)

Term

5, 10, 15

Expert Insights

Citizens could be a great fit for borrowers who already bank with the lender and want to save more on their student loans. Customers can lower their interest rate by 0.25 percentage points with a loyalty discount, and by another 0.25 percentage points for enrolling in autopay. Citizens also offers multiyear approval, making it easier to get additional loans without repeated hard credit checks.

Advertiser Disclosure

We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.

MEFA: Best for Borrowers With Good Credit

MEFA

3

Credible Rating

To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.

on Credible's website

Min. Credit Score

670

Fixed APR

3.29 - 8.89%

Variable APR

-

Loan Amount

$1,500 up to school’s certified cost of attendance less aid

Term

10, 15

Expert Insights

MEFA is best for borrowers with strong credit who want stable, low-cost college financing without the extras. It offers low, fixed-interest rates and zero fees. But there are no variable rates, autopay discounts, or short-term repayment options. If you meet its credit standards, MEFA's nonprofit model makes it a reliable, no-frills alternative to traditional private lenders.

Advertiser Disclosure

We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.

Ascent: Best for No-Cosigner Loans

Ascent

4.9

Credible Rating

To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.

on Credible's website

Min. Credit Score

Does not disclose

Fixed APR

2.89 - 14.93%

Variable APR

4.34 - 15.00%

Loan Amount

$2,001 to $400,000

Term

5, 7, 10, 12, 15, 20

Expert Insights

Ascent stands out for offering private student loans to students without a cosigner and who have limited credit. Its outcomes-based loan uses factors such as academic performance and graduation timeline instead of credit to determine eligibility. Students can also qualify for a cash-back graduation reward and choose from a wide range of repayment plans.

Advertiser Disclosure

We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.

Abe: Best for Payment Relief Options

Abe

4.3

Credible Rating

To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.

on Credible's website

Min. Credit Score

660

Fixed APR

-

Variable APR

-

Loan Amount

$1,000 to $99,999 annually $180,000 aggregate limit)

Term

5, 7, 10, 15, 20

Expert Insights

Few private lenders match the borrower protections Abe offers. You'll find options like in-school default protection, extended grace periods, and multiple types of forbearance — including for job loss and illness. These features make Abe an especially good fit for students who want a safety net during unpredictable times.

Advertiser Disclosure

We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.

Nelnet Bank: Best for Competitive Rates

nelnet

4.2

Credible Rating

To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.

on Credible's website

Min. Credit Score

Mid to high 600’s FICO

Fixed APR

-

Variable APR

-

Loan Amount

$1,000 to $500,000

Term

5, 10, 15

Expert Insights

Nelnet Bank stands out among private student loan lenders for offering low starting rates and high loan limits across undergraduate, graduate, and health professional programs. You can qualify for a Nelnet Bank student loan with mid-600s credit or apply with a cosigner to improve your chances of approval and secure a better rate.

Advertiser Disclosure

We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.

SoFi: Best for Member Perks

SoFi

4.3

Credible Rating

To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.

on Credible's website

Min. Credit Score

Does not disclose

Fixed APR

-

Variable APR

-

Loan Amount

$1,000 to $100,000

Term

5, 7, 10, 15

Expert Insights

SoFi offers borrower-friendly benefits rarely seen among student loan lenders. Perks include cash back for strong grades, a loyalty discount on future loans, and cosigner release after just 12 months. With flexible terms and competitive rates, SoFi is a standout option for students seeking long-term value.

Advertiser Disclosure

We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.

ELFI: Best for flexible repayment

ELFI

4.2

Credible Rating

To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.

on Credible's website

Min. Credit Score

680

Fixed APR

2.99 - 14.22%

Variable APR

5.00 - 13.97%

Loan Amount

$1,000 up to cost of attendance

Term

5, 7, 10, 15

Expert Insights

ELFI stands out for offering a broad range of repayment terms — 5, 7, 10, or 15 years — so you can tailor your loan to fit your budget and timeline. Whether you want to pay off your loan quickly or stretch payments over time, ELFI gives you the tools to choose. This flexibility makes it a strong option if you're seeking maximum control over your repayment plan.

Advertiser Disclosure

We receive compensation from the companies below if you purchase a product. Amount of compensation does not impact the ranking or placement of a particular product. Not all available financial products and offers from all financial institutions have been reviewed by this website. This content is not provided by Credible or any of the Providers on the Credible website. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Credible.

Custom Choice: Best for Discounts and Rewards

Custom Choice

4.5

Credible Rating

To determine the best student loan companies, Credible evaluated lenders based on several different categories, including: rates and fees, loan terms, eligibility, repayment options, and customer support. We assigned a score out of five stars to each lender based on our findings.
Read our full methodology.

on Credible's website

Min. Credit Score

Does not disclose

Fixed APR

3.24 - 15.71%

Variable APR

4.19 - 16.39%

Loan Amount

$1,000 to $99,999 annually $180,000 aggregate limit)

Term

7, 10, 15

Expert Insights

Custom Choice offers a compelling combination of rate discounts, graduation rewards, and zero fees. You can reduce your interest rate by 0.25 percentage points with autopay and earn a 2% principal reduction after graduating. With no fees, cosigner release after 36 payments, and hardship forbearance, it's a good option for students seeking both savings and support.

Why you can trust our Credible experts

The Credible editorial team is independent and unbiased. Partners do not influence our editorial content. To help you find the best student loan for your situation, we conduct thorough research and analyze thousands of lender data points. Using data-driven methodologies, we score criteria that are important to you. This allows us to objectively rank student loan lenders and products. To learn more, read our methodology below.

Methodology

To determine the best student loan lenders for studying abroad, Credible collected more than 1,000 points of data on two dozen companies and evaluated them on several different categories: repayment options, eligibility, interest rates, loan terms, and customer support. We assigned a score out of five stars to each lender based on our findings. Below are the weightings assigned to the general categories for the best student loan companies — which comprise individual criteria that are also weighted.

  • Repayment options: 30%
  • Eligibility: 25%
  • Interest rates: 20%
  • Loan terms: 15%
  • Customer support: 10%

While the best lender for you will depend on your unique needs and financial circumstances, these findings should help answer your questions and assist you in your search for the best student loan.

Learn more about our methodology.

Best federal student loans for studying abroad

You can use federal student loans to fund your study abroad program if your school participates in the federal student aid program. Federal loans come with benefits like lower interest rates than you're likely to get from private lenders, flexible repayment plans, and forgiveness programs.

Here are the main types of federal student loans to consider:

  • Direct Subsidized Loans: Direct Subsidized Loans are available to undergraduate students who demonstrate financial need on the FAFSA. The interest rate is 6.39% for loans disbursed between July 1, 2025, and July 1, 2026. The government covers interest while you're in school and during a 6-month grace period after leaving school.
  • Direct Unsubsidized Loans: Direct Unsubsidized Loans are available to all eligible undergraduate, graduate, and professional students, regardless of financial need. The interest rate is 6.39% for undergraduates and 7.94% for graduate and professional students for loans disbursed between July 1, 2025, and July 1, 2026. You're responsible for paying all interest that accrues, including while you're in school.
  • Direct PLUS loans: Direct PLUS loans are available to parents of dependent undergraduate students and graduate and professional students. The interest rate is 8.94% for loans disbursed between July 1, 2025, and July 1, 2026.

How to choose the right study abroad loan

Here are the most significant factors to consider when comparing private student loans for studying abroad:

  • Annual Percentage Rate (APR): APR includes both the interest rate and any fees. Each lender sets its own range, and your rate will depend on your credit. In general, the lower the APR, the less your loan will cost overall.
  • Fixed vs. variable rates: Fixed rates stay the same for the life of the loan, so your monthly payments won't change. Variable rates can start lower but may rise over time, making your payments less predictable.
  • Repayment terms: Most lenders offer repayment terms between 5 and 15 years, though some go up to 20 years. Shorter terms mean higher monthly payments but less interest paid over time. Longer terms lower your monthly payment but increase the total cost of your loan.
  • Cosigner requirements: If you have a poor or limited credit history, you may need to apply with a cosigner. Most lenders allow one, and applying with a cosigner can improve your chances of approval and help you qualify for a better interest rate.

“Look for a lender that offers good rates, flexible repayment terms, and strong customer service,” says Dan Kennedy, chief information officer at College Ave, who has more than 30 years of experience in the financial services industry.

“You can also check out a student loan calculator to estimate your total and monthly loan payments,” he advises.

Tips for reducing study abroad costs

Student loans can help you pay for study abroad, but the less you borrow, the better. Taking on more debt than you need can lead to financial stress and limit your options after graduation.

Start by exploring scholarships and grants, since these don't have to be repaid. Many schools offer funding specifically for study abroad programs. Check with your university's study abroad office to see what's available. You can also search for private scholarships through sites like GoAbroad.com and Scholarships.com.

Once you've exhausted free aid, there are other ways to lower your overall costs.

“Choosing a program sponsored or approved by your home university is key, as it ensures access to federal aid and may allow you to pay your regular tuition rather than international rates,” says Kayikchyan.

It's also important to consider the full cost of your program, not just tuition.

“The country and school a student chooses, distance from home, program length, and local cost of living all influence total cost,” says Kennedy. He recommends shorter programs or choosing destinations with a lower cost of living to save money.

Kayikchyan adds, “Planning is essential — booking flights early and budgeting for local cost-of-living differences can lead to meaningful savings. I also suggest students explore exchange programs where room and board are included or significantly discounted.”

FAQ

Which education loan is best for abroad?

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How do you study abroad if you can't afford it?

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How do you pay for studying abroad?

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Can I use FAFSA for study abroad programs?

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Are there grants or scholarships for studying abroad?

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Meet the expert:
Jamie Johnson

Jamie Johnson has over eight years of finance experience, with expertise on mortgages, student loans, and small businesses. Her work has been featured at Credit Karma, Bankrate, and The Balance.