About MPOWER Financing Program
MPOWER Financing allows international students to obtain loans to cover the cost of their education in the United States or Canada without having a cosigner or collateral by basing approval on the applicant’s anticipated level of future income. When students are in their final two years of schooling and have been approved or enrolled in one of the institutions supported by the corporation, they are eligible to receive fixed interest rates. Students who are qualified and participate in autopay receive a reduction in the applicable interest rate. Students are eligible for additional benefits through MPOWER, such as financial aid in the form of scholarships and assistance in the form of career support programs.
A loan that is contingent upon your future income
You can quickly and affordably support your study on your own with the assistance of an international student loans. Since the program does not require a cosigner or collateral for our loans, they can help you become more independent.
Put your trust in cheap interest rates and high limits.
- Advances ranging from $2,001 to $100,000 US dollars
- Rates of interest that are both competitive and fixed and which will never go up
- Get a reduction in the interest rate that you pay.
Offer of a loan with conditions made quickly.
- No prepayment penalty
- Students at more than 400 United States and Canadian institutions receive support.
Advantages that extend beyond the cash provided
- Visa support
- Career development guidance
- Access to information on subjects that are of the utmost importance to students studying abroad
Who’s eligible for funding?
If you meet any one of the following requirements, you may be eligible for a student loan through MPOWER:
- An undergraduate or graduate student who will graduate within the next two years or is preparing to enter a program that lasts either one or two years.
- An international student, a recipient of DACA, a citizen of the United States, a refugee, or someone seeking asylum.
- Accepted into or currently enrolled in one of our more than 400 accredited schools in the United States or Canada.
Find your interest rates and terms
Terms of the loans
MPOWER student loans offer perks in addition to financial assistance to every category of student, including the following:
- There are no out-of-pocket expenses, and you won’t have to pay until your first interest-only loan installment.
- Pay up to one hundred percent of all educational costs, including living costs, for students attending schools in the United States.
- Paying your bills on time will help you establish a positive credit history in the United States and get you visa support and career services.
Advantages of Obtaining Student Loans
- Students who, without assistance from student loans, could not afford to attend college can now do so.
- Student loans are available regardless of a borrower’s credit history.
- Compared to private loans, student loans typically come with lower interest rates.
- Loan terms are locked in when the interest rate remains constant throughout the loan’s duration.
- The repayment of many student loans is only required after the recipient has earned their degree, and some loans even offer additional payment postponement or cancellation alternatives.
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- Student loans typically come with flexible repayment plans that consider both the borrower’s salary and the cost of living in the area where they live.
The Downsides of Obtaining Student Loans
- A limit is placed on the overall amount of government help that any person can get.
- If you withdraw from school before completing it, you are immediately responsible for repaying the loan.
- You may need cosigners to get a private student loan.
- The total cost of your student loans will depend on the amount you borrow and the interest rate.
- A lower credit score could be the result of defaulting on college loans.
- The interest rates on private student loans may shift.
- Students’ credit histories and other factors may prevent them from qualifying for certain loans.