MPOWER Student Loan Financing is a platform that assists students who want to study in North America and beyond financially. Finding student loan lenders that supports student studying in North America is difficult. And it is almost not possible when the student isn’t a citizen or permanent resident.
The platform deploys a funding solution for students all around the world. It provides loans to students studying in U.S. or Canada without the need for a cosigner or credit check.
MPOWER Financing | MPOWER Student Loans
The loans are offered to United States students who are attending eligible United States universities. The interest can be paid only when you are in school or for six months after graduation. Applicants are left for just 10 years loan term with full interest and principal payment completed.
U.S. Citizen, Permanent Resident, and DACA Undergraduate Student Loans
United States citizens. Permanent residents and DACA students going for bachelor’s degrees are eligible for the undergraduate loan of MPOWER Financing with multiple loan discounts. Keep in mind that there is no prepayment penalty.
Loan Terms for Domestic Undergraduate Loans
- Fixed Rates – 9.99% (10.91% APR)
- Loan Amounts – $2,001 to $25,000
- Loan Terms – 10 years
U.S. Citizen, Permanent Resident, and DACA Graduate Student Loans
This is an option for graduate students who are leaving school. It offers a low-interest rate which keeps it at the top position among other loans offered by MPOWER Financing.
Loan Terms for Domestic Graduate Loans
- Fixed Rates – 7.99% (8.89% APR)
- Loan Amounts – $2,001 to $25,000
- Loan Terms – 10 years
International Undergraduate Student Loans
International students on a 2 year of graduation can be eligible for an undergraduate student loan. Applicants are expected to have been admitted before applying or already attending one of the MPOWER Financing partner schools in the United States.
Loan Terms for International Undergraduate Students
- Fixed Rates – 13.99% (14.98% APR)
- Loan Amounts – $2,001 to $25,000
- Loan Terms – 10 years
International Graduate School Loans
Students who are registered in a program of fewer than 2 years of graduation are qualified for the MPOWER international graduate school loans. There is also room for multiple interest rate discounts and no prepayment penalties when paying the loan early.
Loan Terms for International Graduate Students
- Fixed Rates – 11.99% (12.94% APR)
- Loan Amounts – $2,001 to $25,000
- Loan Terms – 10 years
How to Apply for MPOWER Financing Student Loan
- Launch any web browser
- Click on the search box and enter the URL https://www.mpowerfinancing.com/get-a-loan/
- Click on Apply Now close to the Sign in at the right section. You can also navigate to the Get A Loan section and click on Apply Now from the drop-down list
- Select the best option that describes information about yourself
- Then, select an option about how you heard about the platform
- Click “Next”
- Provide the required information, which includes:
- University
- Degree
- Expected graduation date (month & year)
- First name
- Last name
- Mobile number
- Citizenship country
- Loan amount requested
- Select one or more academic periods
- Click on the box to accept your review and agreement to Privacy Policy
- And Click “CHECK NOW”
You will be notified of your eligibility either by your provided mail or instantly. If eligible, you can request the loan and get directions on how to receive the funds.
Required Documents
- List of school expenses involved like tuition, housing, and textbooks
- Resume or CV (this is optional for undergraduates)
- Standardized test scores (for graduates)
- An English proficiency exam scores
- College admission letter
- Past transcripts or diploma
- A passport
- Secondary photo ID from your home country
- Supporting evidence of funds like bank statements
And that’s it.
