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Student loans for Bangladeshi students for postgraduate study in the U.S. or Canada

Many Bangladeshi students have a goal to do postgraduate study abroad in the U.S. or Canada. However, the cost of education at U.S. and Canadian schools can be quite high. If your scholarships, grants and college savings aren’t enough to cover all the costs of studying overseas, international student loans can fill in the gap.

Options for student loans in Bangladesh

The cost for postgraduate education in the U.S. or Canada is a shock to many Bangladeshi students. Depending on the location of your chosen school, a STEM master’s degree may cost as much as US$75,000 or more. In addition to tuition, you’ll need to think about the cost of fees, room and board, books and supplies, transportation, and international health insurance.

If you qualify, international scholarships and grants are one of the best ways to pay for school. These awards are based on merit or financial need, and they don’t need to be paid back as long as all requirements are met. Fellowships are another option for graduate students. These awards provide funding for your education along with opportunities for teaching, research and other activities. Many institutions also offer work-study positions where international students can earn money by working at on-campus jobs.

However, even with large merit-based scholarships, grant awards, fellowships and work-study opportunities, you may still find there’s a gap in your ability to cover the entire cost of your education. That’s where international student loans programs can help.

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International student loans for Bangladeshi students

The U.S. and Canadian governments have several student loan programs, but these are typically reserved for students who are citizens of the United States or Canada. There are some exceptions, however, so you should always check with the admissions office of your chosen school about the possibilities.

For most Bangladeshi students, private student loans from banks and other financial institutions will likely be the best option. When planning for postgraduate study in the U.S. or Canada, you can apply for two types of student loans in Bangladesh.

  • Secured loans. Since lending to students can be risky, financial institutions often secure student loans by requiring collateral or a cosigner. Collateral is an asset like land, a home or jewelry that the lender can claim if the loan is not repaid. Cosigners are people who promise to pay back the loan if you cannot. Cosigners must be residents of the U.S. or Canada and have a solid credit history and verifiable income. For international students, cosigners are typically a family member or close family friend.
  • Unsecured loans. Since many international students don’t have family or friends living in the U.S. or Canada, it can be hard to find a cosigner. That’s when an unsecured loan – a “no-cosigner loan” – can be helpful. Rather than considering credit history, revenue and financial situation, lenders offering no-cosigner loans look at your academic record and future potential.

Tips for finding international student loans for postgraduate studies for Bangladeshi students

Borrowing money for postgraduate study in the U.S. or Canada is a big financial decision. That’s why it’s important to carefully compare all your options. Here are some tips for finding international student loans that are a good fit for you.

  • Shop around. Every private lender offers loans with different interest rates, fees, borrowing criteria and repayment terms. Some offer more support for international students than others. Be sure to check with trusted sources like the Better Business Bureau (BBB) or TrustPilot to read reviews from students who have worked with the lender before.
  • Start now. Looking for lenders and comparing student loan products takes time, so you’ll want to start the process several months before you plan to start school.
  • Compare products closely. As you consider student loans from different lenders, be sure to look closely at the terms of each loan, such as:
    1. Qualification requirements. Some lenders require cosigners, while others do not. If you can’t find a cosigner – or don’t want to apply with a cosigner – you can focus your search to lenders that offer no-cosigner loans.
    2. Interest rates. The interest rate determines the amount of money you’ll have to pay back to the lender on top of the original amount you borrow. The lower your rate, the less you’ll pay overall. Fixed interest rates remain the same throughout the life of your loan, so you’ll have predictable payments while variable interest rates rise and fall with the economy – your payments will fluctuate as economic conditions change.
    3. Fees. Most lenders have fees for origination, disbursement and other services. Be sure you understand all fees and calculate these costs into the total cost of the loan.
    4. Repayment terms. Repayment terms include the length of time you’ll have to pay back the loan – most lenders offer a 10-year repayment term. You’ll also want to check if the repayment terms require you to start paying immediately, or whether you can wait until you have finished your studies and are earning income.
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No-cosigner student loans for Bangladeshi students

As a leader in international student financing, MPOWER Financing offers loans that don’t require a cosigner or collateral. When it comes to international student loans for postgraduate studies, applying for an MPOWER loan is a quick and affordable way to finance your education without requiring help from your family.

MPOWER’s no-cosigner student loans are based on your future earnings, rather than your history or your current financial situation. Offering funding up to US$100,000 total, MPOWER loans have fixed competitive interest rates that will never increase. With a quick eligibility check and a simple application process, MPOWER is dedicated to making it as easy as possible to finance your education.

Loan terms

MPOWER provides:

  • Funding from US$2,001 to US$100,000 total.
  • Loans for up to 100% of your education expenses, including living expenses for schools in the U.S.
  • Fixed interest rates – your rate and your monthly payment will stay the same throughout the life of your loan.
  • A 0.25% interest rate discount for automatic payments.
  • 10-year repayment plans – you’ll have plenty of time after you graduate to pay off your loan.
  • Interest-only payments while you’re in school and for six months after you graduate.
  • No application fees paid out-of-pocket – you’ll pay nothing until your first interest-only loan payment.
  • No prepayment penalties for paying off your loan early.

Advantages

When you work with MPOWER Financing, you’re getting much more than a student loan. MPOWER’s Path2Success program provides support to help you succeed in your transition to studying at university, living abroad and building your career.

  • Visa support includes a free visa support letter and visa prep course to prepare you for your visa interview.
  • Financial services include a prequalified U.S. credit card and bank account, providing access to U.S. currency as soon as you enter the country.
  • Career services include a customized internship and job search tool for students with an F-1 visa, along with tools to help you build a resume and apply for employment opportunities.

MPOWER Student Loan

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FAQs

Does MPOWER Financing offer student loans in Bangladesh?

MPOWER does not offer student loans in Bangladesh, but rather to Bangladeshi students who are enrolled at one of 400+ schools in the United States or Canada.

What can MPOWER student loans be used for?

MPOWER private education loans can cover up to 100% of your education expenses in the U.S., including tuition, fees, books and supplies, transportation, and living expenses. In Canada, funds can be used for tuition primarily.

Am I eligible for an MPOWER loan?

You may be able to apply for MPOWER student loans in Bangladesh if you are:

  • An undergraduate or graduate student within two years of graduating (including bout to begin a new 1-year or 2-year education program)
  • An international student, a DACA recipient, a refugee, an asylum-seeker or U.S. citizen
  • Accepted at or attending one of 400+ eligible schools in the U.S. or Canada
When should I apply for a student loan in Bangladesh?

It may take between several weeks and several months to complete the lending process, so it’s important to apply for your MPOWER student loan early. Applying two or three months before the semester starts should be enough time to ensure your funds come through in time.

Does MPOWER offer scholarships?

Yes! MPOWER Financing international student scholarships are designed to help create globally minded, culturally competent graduates who can take on the world’s most pressing problems in science, business, technology and public policy. MPOWER offers scholarships for women in STEM and MBA students and a wide variety of international students through its unique monthly scholarship opportunities.

*Rates as low as 9.99% (10.89% APR) available only for the fall 2025 semester and you must submit your application by December 31, 2024. This interest rate and APR includes a 0.25% discount for automatic recurring payments and a 0.75% discount from our limited-time early planner promotion.

DISCLAIMER – Subject to credit approval, loans are made by Bank of Lake Mills or MPOWER Financing, PBC. Bank of Lake Mills does not have an ownership interest in MPOWER Financing. Neither MPOWER Financing nor Bank of Lake Mills is affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. None of the information contained in this website constitutes a recommendation, solicitation or offer by MPOWER Financing or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.

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