Studying in the United States is a dream for many Ghanaian students, but the cost of tuition, housing, and living expenses can be overwhelming. Scholarships are great, but they may not always cover everything. That’s where student loans come in.
If you’re a Ghanaian student looking for funding in the USA, here are the main loan options available to you.
1. Federal Student Loans (Not Available to International Students)
Unfortunately, U.S. government (federal) student loans are only for U.S. citizens and permanent residents. Ghanaian students don’t qualify for these.
This means you must focus on private loans, international lenders, or school-specific funding.
2. Private Student Loans (With a U.S. Co-Signer)
Most U.S. banks and private lenders (like Sallie Mae, Discover, or Citizens Bank) offer loans to international students, but they require a co-signer.
• The co-signer must be a U.S. citizen or permanent resident with good credit.
• This option is best if you have family or close relatives in the U.S.
3. No Co-Signer Loans for Ghanaian Students
If you don’t have a U.S. co-signer, don’t worry. There are international lenders that specifically serve students from Ghana and other countries:
• MPOWER Financing
• Available for students at over 400 U.S. universities.
• No co-signer required.
• Loan amounts: up to $100,000 (maximum $50,000 per academic year).
• Focuses on your future career potential.
• Prodigy Finance
• Great for postgraduate programs (MBA, engineering, law, medicine).
• No co-signer or collateral required.
• Works with top universities in the USA.
• Future Finance (UK-based, sometimes extends to U.S. universities)
• Limited availability but worth checking if your U.S. school is a partner.
4. University-Specific Loan Programs
Some U.S. universities have their own funding and loan programs for international students. For example:
• Harvard, MIT, Yale, and Stanford offer need-based financial aid that functions like a loan or grant.
• Other schools partner with Prodigy Finance or MPOWER to give easier access to loans.
Always check with the financial aid office of your university.
5. Alternative Options
• Scholarships & Grants: Apply for Ghanaian government scholarships, Fulbright Program, or private foundations.
• Work Opportunities: International students on F-1 visas can work on-campus or apply for OPT (Optional Practical Training) after graduation.
Key Tips for Ghanaian Students
1. Start early – loan and scholarship applications take time.
2. Choose universities partnered with lenders (MPOWER, Prodigy).
3. Mix funding sources – combine scholarships, part-time work, and loans.
4. Plan repayment – understand interest rates and repayment schedules before signing.
