Financing Options for International Students

Available to international students studying on a valid, non-immigrant visa who applied and qualified for need- based financial aid.

Annual loan limits are based on the student’s year in school and are outlined in the four-year financial aid letter.

Macalester understands the idea of taking on a loan can be concerning for many families and therefore takes great care to ensure the MCISL is as favorable as possible. 

To learn more about the terms and conditions of the MCISL, visit https://www.macalester.edu/financial-aid/loans/mcisl/.

Macalester alums who encounter questions or concerns about repaying their MCISL at any point after leaving Macalester are encouraged to contact Macalester directly to explore various options.

Note: Students choosing not to accept the full MCISL amount in a given year are responsible for making up the difference. Macalester cannot replace the MCISL with additional scholarship.  

Generally awarded to students who are in need of funds beyond the limits of the MCISL.

• No payments are required and no interest accrues while half-time enrollment is maintained.
• Required payments begin six months following graduation or withdrawal from Macalester.
• Interest rate during repayment is fixed at 6%.
• Standard repayment period is ten years.

Additional information is available at: www.macalester.edu/financialaid/loans/macloan/

While not common, in some cases, your country’s government or local bank may offer their own loans which could be used for education purposes. These are often referred to as alternative, supplemental, or private loans. Students/families will need to check with their local bank/financial institution. Private loans should be seen as an option of last resort.

This optional plan allows families to make multiple payments each semester.
• Available to families with Automatic Bank Payment (requires a U.S. Bank Account) OR a credit card.  Note: There is a 2.75% transaction fee for payments made with a credit card.
• Families may pay all or part of educational costs through the payment plan.
• $85 annual non-refundable enrollment fee.
• Option of making 9 to 12 monthly payments.
• Starting date ranges from April 1 to August 3, depending on the plan.
• Automatic deduction occurs on the 5th of the month.
The first monthly payment is due according to an established schedule for each plan. For more information, visit mycollegepaymentplan.com/macalester-college.