Student loans and scholarships for international students from Brazil
Studying abroad has always been attractive for students around the globe, and Brazilian students are no exception. According to the Open Doors 2023 report, Brazil is the leading country in Latin America with students pursuing a college education in the United States.
Thousands of Brazilian students move to the U.S. each year to earn undergraduate or graduate degrees. Michael Cerqueira, an MPOWER ambassador from Brazil, says he knows why. “Studying abroad is always a very important aspect of your career path. This gives you new perspectives; (it) improves your networking, improving your chances as you look for work.”
As a Brazilian international student, you might wonder how to finance your education abroad. Fortunately, there are multiple available options worthy of consideration. Below, we’ll explore private student loans and scholarships for international students in the U.S.
Student loans for international students
As an international student, your best option for funding is a loan from a private lender. The requirements for international students to get a student loan differ from lender to lender. The majority of lenders require clients to have a cosigner and to be within a specific number of years from their graduation date.
As an international student in a foreign country, including Brazil, finding a cosigner can be a struggle. MPOWER Financing understands and designed its loans so they don’t require collateral or a cosigner. That means you won’t need to ask a person to take full responsibility for your loan if you fail to repay it.
What Brazilians should know about an international student loan from MPOWER Financing
MPOWER provides student loans for undergraduate and graduate students from across the globe who plan on studying in the U.S. and Canada. The company was founded by former international students who understand the complexities and obstacles students face when pursuing an education abroad.
Each MPOWER loan student can borrow between US$2,001 and US$100,000 with repayment terms of 10 years. MPOWER’s interest rate is always fixed, which means students don’t have to worry about fluctuating market conditions or devaluation because the loans are in U.S. dollars.
In addition to funding, students with MPOWER student loans automatically have access to visa support and career services through the Path2Success program, which helps students before, during and after their study abroad journey.
If you’re considering applying for an MPOWER student loan, make sure to use the student loan prequalification tool to check how much funding you qualify for. The amount will depend on your future potential, program and university choice. The tool lets you simultaneously compare funding options at up to eight schools.
Is a student loan for an international student from Brazil a good idea?
Choosing a student loan as an international student from Brazil can be a strategic and beneficial investment in your future. By opting for financial assistance, you open doors to a world-class education in the United States, exposing yourself to a diverse and dynamic learning environment. This experience not only enriches your academic journey but also allows you to immerse yourself in the U.S. market, gaining valuable insights and connections that can significantly contribute to your professional growth.
Viewing the loan as an investment underscores the notion that education is a powerful asset. It’s an asset that empowers you to discover your full potential and cultivate skills that are not only personally fulfilling but also highly sought after in the global job market.
In this video, Michael talks about his experience leaving Brazil to study abroad in the United States and why getting a loan was the right decision for him.
Scholarships for international students
In addition to student loans, there are many scholarships available for international students to fund their education. Scholarships are based on various criteria like academic merit, financial need, leadership qualities and extracurricular achievements.
The best perk of obtaining a scholarship is that you don’t have to pay it back. Make sure to check available MPOWER Financing scholarships and research databases like International Student’s scholarship search and College Board to find the best one for you.
Final thoughts: Private loans and scholarships for Brazilian students
A private student loan can be an investment in your future, allowing you to study in the United States, expand your opportunities and build connections in a new country. Scholarships don’t need to be paid back and allow you to fill any financial gaps in your educational expenses. As a Brazilian student excited by the idea of studying abroad, you should know there are financial resources to explore, and it’s possible to fund your education in the U.S.!
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