If you live in Nigeria, Ghana, South Africa, Kenya, and other African countries and you're looking to travel overseas to study, here are 5 websites you can access student loans from:

1. MPower Financing
2. Lendwise
3. Prodigy Finance
4. Stilt
5. Edfin Wise Abroad Loan

1. MPower Financing

Mpower Financing is a  public-benefit organization that has as its primary goal to lower the costs associated with studying abroad.

Although it has an office in Bangalore, India, Mpower Financing is based in Washington DC. Manu Smadja and Michael Davis, who met while attending INSEAD in Paris, founded it in 2014.

MPOWER loans don't need a co-signer because they were created with overseas students in mind. MPOWER considers other factors in addition to a co-creditworthiness, signer's such as the following:

• good credit history
• Your institution
• your native country
• Your academic and professional potential

International students can utilize the money from an MPOWER no co-signer loan to pay for tuition, books, meal plans, accommodation, and health insurance, among other university-related costs. Students must submit a loan application for each academic period they wish to borrow money, up to a total of $50,000, or $25,000 per academic session.

Students can anticipate fixed interest rates ranging from 11.99% to 13.99% if they are approved for a loan. Additionally, there are three ways for borrowers to be eligible for interest rate reductions:

1. Automate the loan repayment process.
2. Make six consecutive timely automatic withdrawal payments.
3. Your employment and graduation credentials.

International students will make modest, interest-only loan payback payments prior to graduation. Students will have a six-month grace period following graduation before a 10-year payback term starts.

If you attend one of the participating schools in the MPOWER partnership program, you might be qualified for a loan without a cosigner. Applying is the only way to for sure determine your eligibility. Use the loan comparison tool that is accessible to you on the MPOWER website to take the initial step.

For more information, visit mpowerfinancing.com

2. Lendwise 

Lendwise is committed to offering education financing to anyone who wants to pay for their postgraduate courses at renowned universities. Lendwise runs a direct marketplace lending platform, which implies it employs the "classic" or "pure" P2P lending model. It also acts as a platform where investors may fund projects and borrowers can submit loan applications online.

Lendwise Ltd., with its headquarters in the UK, is in charge of running Lendwise. The Financial Conduct Authority of the United Kingdom granted it a credit license (FCA). Lendwise enables you to fund others by making investments in student loans. If you are an individual looking for money, you can also submit an application.

The following are some critical details regarding Lendwise student loans:

• Lendwise loan applications have no impact on credit scores.
• Processing a clean credit history is one of the requirements to be eligible for Lendwise loans. There shouldn't be any defaults, arrears, CCJs, etc. as a result.
• Lendwise loans are mainly used for tuition costs because they send the money right to the university.
• Lendwise lends to students with scholarships/government postgraduate loans. They also provide loans to students who still owe money from their undergraduate studies.
• You must be a UK resident and be pursuing a postgraduate degree or professional qualification that requires financial aid in order to pay your studies in order to be eligible for loans from Landwise. Additionally, they accept applications from students having offers from colleges or business schools in other European nations or from beyond.
• One is not automatically ineligible to apply for a loan if they have a poor credit score. A decent to exceptional credit score, however, raises your overall Lendwise credit score, which raises your likelihood of being approved for the loans.
• You can borrow up to £100,000 from Lendwise with a maximum 10-year repayment period..

For more details, visit www.lendwise.com

3. Prodigy Finance 

For international graduate students pursuing master's degrees in business, engineering, law, or public policy, Prodigy Finance offers loans. Around 850 schools are supported by Prodigy Finance throughout more than 18 nations.

Prodigy Finance offers a straightforward online method to assist students in financing their master's degree. The following steps make up a typical prodigy loan application process:

1. Choosing a school
2. The school's and prodigy support for your program details.
3. Apply and register
4. Start the application
5. Send the application in

Anyone around the world is able to submit an application for a Prodigy student loan. Anywhere you have a safe internet connection, that is. Hard copies of the paperwork are not necessary because the process is handled online.

Student loans from Prodigy Finance are accessible to those in about 150 different nations. Additionally, students from the UK are eligible to apply for loans to study there. However, certain conditions must be met in order to apply for a loan from Prodigy Finance:

1. A school and program they sponsor must admit you.
2. You must be interested in studying abroad.
3. You have to be from the nations they support.t.

A group of alumni, institutional investors, and suitably qualified private investors who benefit both financially and socially together support the student loans of Prodigy Finance.

Visit the Prodigy Finance website at www.prodigyfinance.com to learn more about the company and its requirements.

4. Stilt

Stilt offers loans at rates lower than any other lender to foreign students and professionals who are employed in the United States on F-1, OPT, H-1B, O-1, L-1, and TN visas. Stilt is dedicated to assisting immigrants in securing a more prosperous future.

Instead of requiring a co-signer for online loans, lenders like Stilt consider peripheral criteria, so you can qualify without one.

Important prerequisites for receiving student loans from Stilt include the following:

1. You must have a bank account with a U.S. institution in your name.
2. You must reside in one of the following states: AZ, IL, FL, TX, PA, CA, MI, NY, NJ, UT, WA, GA, VA, OH, and WI. You must also have a U.S. mailing address.
3. B1/B2 visas and a number of other types of visas are ineligible, so you must have one that is legitimate and valid for at least six months.

With no co-signer or previous credit history in the US necessary, Stilt, which was founded by two foreign students, provides low-cost loans to international students.

With an interest rate range of 7.99% to 15.99% and a two-year loan duration, Stilt has made loans to borrowers in more than 150 different nations.

Visit www.stilt.com right away to learn more about Stilt!

5. Edfin Wise Abroad Loan 

This is only available to Nigerians and is powered by EdFin Microfinance Bank. For students who want to study locally or abroad, it provides naira loans. It aids Nigerian students in financing their desire to study in 18+ nations like Canada, the United States, the United Kingdom, Australia, etc.

The following are the prerequisites for applying for the loan:

1. Both the applicant and the guarantors must reside in Lagos.
2. Proof of enrollment and tuition payments by the student
3. Proof of any scholarships awarded to the student
4. Authorization letter from the applicant/student authorizing the transfer of loan proceeds to the institution.

The typical loan size is between 2 and 20 million Naira, with a monthly interest payment of 3.0% flat for the first six months. There is a maximum 24-month loan term.

The following are some advantages of Edfin Wise Abroad loans:

1. It is fully digital and paperless.

2. No need for a credit history or collateral

3. Principal repayment upon graduation

4. A discount on interest rates is offered (terms and conditions apply)

5. Establish a credit history and score, etc.

6. No foreign exchange or insurance fees

7. A letter of support for a visa

Visit https://edfinmfb.com/edfin-wise-abroad-loan for more details about the Edfin Wise Abroad Loan.

Conclusion

Student loans are not the only ways to get financing while travelling abroad to study. Getting University Scholarships and Grants are other methods. However, accessing university scholarships and grants might not be easy. Therefore, instead of forfeiting your dreams of travelling abroad to study, visit the websites mentioned in this blog post and see which of them works best for you. The good thing about student loans is, they will enable you to borrow money and pay it back at a later date, with interest. Some let you pay while in college/university and even after graduation.