New England institutions have long been in the forefront of recruiting foreign students. Recently, the numbers of foreign students studying in the United States has declined partly as a result of visa problems, widespread perceptions that the United States no longer welcomes foreign students and increasing anti-Americanism abroad. The primary barrier to increasing numbers of foreign students, however, has been, and still is, lack of financing. Foreign students are not eligible for most forms of student financial assistance. The result is that a majority of international students in their colleges come from families that are able to pay full tuition. Studying at an American university has for the most part been a luxury item for non-U.S. families. The rapidly expanding middle class worldwide has largely been shut out of U.S. higher education because of financial constraints. However, this could change. The author states that a well-engineered cross-national student loan program could democratize and expand international student enrollment the way the early guaranteed student loan program expanded college opportunity for U.S. students. A number of fundamental changes abroad have made it possible to think about a loan program for foreign students coming to the United States.