Juno’s Negotiated Student Loans for US Universities: A Complete Guide for International Students

Education abroad can be expensive. Student loans can often be a solution for international students to cover the costs. Juno is an online platform that helps students find lenders with negotiated rates.¹ Read on to learn more about Juno, how it works, and how the platform can be used to finance higher studies in the US.

This article is about Juno, a facilitator of student loans. Not to be confused with Juno.finance, a different financial technology company offering Checking Accounts in the US.

What does Juno offer international students?

Juno helps match student borrowers with lenders for:

• Undergraduate loans.
• Graduate loans, including MBA.
• Refinancing for existing student loans.

When you create a Juno profile and submit your details, the platform calls for bids from interested lenders. Juno identifies the most attractive bid, typically with the lowest interest rate, and connects the lender and student.

An attractive aspect for international students is that Juno doesn’t require the borrowers to have any US credit history, and there is no credit check. Some loan offers do not require any collateral, downpayment, or co-signer — but these are only available to qualifying borrowers.

Juno Deals For International Students Going to the USA

For international students pursuing higher education in the USA, Juno offers:

First Deal for Graduate Students²

This offer facilitates student loans with a variable interest rate, meaning the interest rate can change during the loan tenure. This deal allows students to borrow up to 100% of their education expenses, excluding any aid or scholarship. The current interest rate for First Deal starts from 9.54%* APR.

Second Deal for Graduate and Undergraduate Students²

This offer facilitates student loans with a fixed interest rate, meaning the interest rate does not change during the loan tenure. While a US co-signer is not required under this deal, having one can help lower the interest rate on the loan. The current interest for Second Deal is 13.99%* before discounts.

Juno offers discounts for setting up Autopay, and international students who take out a loan for more than USD 40,000 can get a free iPad.

Refinancing your existing student loan³

International students living in the US can consider Juno for refinancing their existing loan. If you qualify for a lower interest rate, this deal can help reduce your debt. With an autopay discount, the fixed interest rate on a refinanced loan can be as low as 4.99%*. Only borrowers who are employed in the US, or are about to be, can take advantage of this option.

The minimum loan amount is USD 5,000, and students can get a USD 500 cash incentive as a sign-up bonus.

Option to add a US Cosigners on the Loan⁴

Juno allows international students to add a US citizen or permanent resident as a cosigner to their application, enabling students to access loans from US lenders as well. With some lenders, you can request cosigner release after making timely monthly payments (usually 36 to 48 months). You can also refinance the loan solely in your name once you start working and have built a good US credit history.

Eligibility to Apply for Loans on the Juno Platform

The loan eligibility depends on the student’s profile matching with a partner lender on the Juno platform. The primary prerequisites are:

• You must show acceptance as a full-time student into a US university.
• You have documents demonstrating valid immigration status in the US.

Getting Started with Juno

To get started, create a new account on the Juno platform and provide your details, including your name, address, income, educational background, and the loan amount requested.

1. Juno collects your information and uses their platform to request bids from interested lenders.
2. The platform negotiates the interest rates with the lender and offers the rates to the borrowers.
3. At this stage, borrowers can accept the offer and proceed with the lender to complete the loan application and formalities.
4. The borrower will need to provide all KYC documents, including proof of income, the acceptance letter from the university, and any additional documents as requested by the lender. If applicable, you can share cosigner documents with the lender.
5. Once all your documents and information have been submitted, you can wait for approval from the lender.

The approval will come directly from the lender, not the Juno platform. The approval will come directly from the lender, not the Juno platform. For any assistance, you can contact Juno customer support by calling +1- 201-482-1269 or by emailing hello@joinjuno.com.

Getting the Money from Lenders

Signing up and applying on the Juno Platform can be fast. The loan approval process depends on multiple factors, like the availability of lenders. So, the loan approval time can vary from one lender to another.

Once approved, the loans are generally disbursed before the start of the semester. Borrowers can contact their lenders and ensure the funds are released to the university or college on time.

Start your international journey with Wise

Opening an overseas account is one of the first things you will need to figure out when you arrive abroad for your studies. Check out the Wise multi-currency account available for residents living in supported countries. Enjoy an account as worldly as you are and spend just like a local when you travel abroad with a linked debit card, while also paying less in fees.