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International student loans are a great way to help fund your education when you need to fill the financial gap. However, international students often face numerous hurdles when it comes to getting a loan, including not having a cosigner and trying to borrow from a lender that doesn’t work with international students. Since 2014 MPOWER Financing has been working to help students overcome these funding challenges - here’s how!
About MPOWER Loan
MPOWER loans are designed with international students in mind, and because of this, they don’t require collateral or a cosigner. Instead of looking at the creditworthiness of a cosigner, MPOWER looks at other factors, including your future earning potential.
If approved for a no-cosigner loan through MPOWER Financing, international students going to the U.S.can use the funds for many university-related expenses, including tuition, books, meal plans, housing, and health insurance. Students studying in Canada at approved universities can apply funding to their tuition costs.
Students have the flexibility of borrowing what they need - from as little as $2,001 up to $100,000 total ($50,000 per academic period).
MPOWER Loan Repayment
Students with an MPOWER Financing loan will have fixed interest rates for the entire duration if approved for a loan. Borrowers can receive a one-time discount of 0.25% on their interest rates by enabling automatic loan repayment through their bank account.
Before graduation, international students will make interest-only payments toward their loan repayment. Upon graduation, students will have a six-month grace period before a ten-year repayment term begins.
Why do students choose MPOWER?
MPOWER helps international students achieve their education dreams in the U.S. and Canada. With its unique future credit model, MPOWER gives loans to students based on their future earning potential. Plus, MPOWER customers have access to a unique Path2Success career services program and a visa support letter - at no additional cost. These are just a few items that separate MPOWER in the educational loan market from any other loan provider and make MPOWER the preferred choice for students.
MPOWER has partnered with schools throughout the United States; if you attend an eligible school, you could qualify for a no-cosigner loan. Applying is the only way to know if you’re eligible. Take the first step and use our loan comparison tool above to check if you can apply for an MPOWER loan. If an MPOWER loan is available to you, you can enjoy a timely digital process from approval to disbursement - allowing you to count on funding when you need it most.