International student loans providers have shown to have low interest rate than Zambian based. It's now possible to apply for student loans within or using international platforms.

international Student Loans

Here are the main providers of student loans in Zambia:

1. Government – Higher Education Loans & Scholarships Board (HELSB)

  • Mandate: Created under Act No. 31 of 2016, HELSB is the primary public institution offering student loans to undergraduates at Zambia’s public universities (e.g., UNZA, CBU, MKU, MU, KMU, CHAU, KNU) 
  • Coverage: Tuition, accommodation, meals, books, and project costs.
  • Repayment: Begins one year after graduation.
  • Interest: Reduced from 15% to 10% effective January 1, 2024 
  • Application: Submit admission letter, NRCs, Grade 12 certificate, photos, handwritten application, recommendation letters, etc. 

2. Commercial Banks & Private Sector

Several banks offer private educational financing, often requiring a guarantor or collateral:

  • Zanaco (Zambia National Commercial Bank): Offers schooling loans (mainly primary/secondary), salary-backed with floating interest rates ; also provides student loans for tertiary via guarantor-based schemes .
  • Absa Bank Zambia: Formerly Barclays, provides student loans to cover tuition, accommodation, books with grace-period repayment and guarantor requirement 
  • First National Bank (FNB) Zambia, Stanbic Bank, Standard Chartered: Each offers educational loan products to students or guardians; terms include proof of admission, identification, and guarantor 
  • Xtenda Financial Services & PremierCredit: Micro-lenders offering unsecured loans up to K150,000 in terms of 3 to 72 months—potentially usable for education 

3. International Student Loan Lenders

Ideal for Zambian students pursuing tertiary education abroad:

  • Prodigy Finance: Loans for Zambian nationals attending international universities, no collateral or co-signer required 
  • MPOWER Financing: Supports Zambians studying in the U.S. or Canada with fixed interest rates, no co-signer or collateral 

4. Microfinance & NGO Options

  • VitPay Zambia: Upcoming educational loan pilot: K2,000–K10,000 for school fees, uniforms, books, repayable monthly 
  • MicroLoan Foundation & Lendwithcare: These primarily support women entrepreneurs, not student-specific loans—but may indirectly free up household finances 

5. Special Schemes & Employer-Sponsored Loans

  • Public Service Pensions Fund (PSPF): Occasionally funds education for public-sector workers’ dependents 
  • Employer-based support: Large companies (mining, telcos) may provide loans or reimburse tuition for staff or their children 

Top International student loans 

Here are the top international student loan options in 2025 for students studying abroad (especially in the U.S., Canada, U.K., and Europe), without needing a co-signer or collateral:

1. Prodigy Finance

  • Best for: Master's students in top global universities (esp. U.S., U.K., Europe)
  • No co-signer or collateral needed
  • Eligibility: Citizens from 150+ countries (including Zambia); attending eligible universities and programs (mostly MBA, STEM, law)
  • Interest Rate: Variable, ~11–14% APR depending on credit model
  • Repayment: Starts 6 months after graduation, term up to 20 years
  • Bonus: Credit-building while studying abroad

🔗 prodigyfinance.com

 2. MPOWER Financing

  • Best for: Undergraduate and graduate students in the U.S. or Canada
  • No co-signer, no collateral
  • Eligibility: Must be enrolled in one of 400+ supported schools
  • Interest Rate: Fixed, ~12.99–13.99% APR; autopay discount available
  • Repayment: Interest-only while in school + 6 months grace; then full repayment for 10 years
  • Bonus: Career coaching, visa support, and scholarships

🔗 mpowerfinancing.com

 3. Future Finance (UK)

  • Best for: Undergraduate and postgraduate students in the U.K.
  • No need for a UK guarantor
  • Eligibility: EU and international students studying in the U.K.
  • Interest Rate: Variable based on credit history and school (~6–14%)
  • Repayment: Interest-only during study; full repayments post-graduation

🔗 futurefinance.com

 4. Lendwise (UK)

  • Best for: Postgraduate study in the U.K. (MBA, MSc, LLM, etc.)
  • No co-signer needed
  • Eligibility: Admitted to eligible programs in top universities
  • Interest Rate: Competitive fixed rates (typically lower than Prodigy/MPOWER)
  • Repayment: Flexible; typically 10-year term

🔗 lendwise.com

5. Ascent International (U.S.) – Coming Soon

  • Currently only for U.S. residents, but Ascent has announced plans to support international students with no co-signer loans in 2025.
  • Worth monitoring for expansion.


Before applying for student loans you are advised to check the interest rates. Take time to compare different providers so you go along with the best option.