Douglas Olsen
MPOWER Financing provides loans for international students and students with Deferred Action for Childhood Arrivals (DACA) status. The company was founded by international students and offers quick, no-collateral, no-cosigner loans for global students in the U.S. and Canada. MPOWER assesses students' future earning potential and ability to work in the U.S. and repay the loan, rather than focusing on their creditworthiness or credit history.
| Characteristics | Values |
|---|---|
| Target borrowers | International students, DACA recipients, U.S. citizens, refugees, and asylum seekers |
| Loan amount | $2,001 minimum per academic period, $50,000 maximum per academic period, $100,000 total maximum |
| Interest rate | 9.99% |
| APR | 11.16% |
| Repayment term | 10 years |
| Grace period | 6 months |
| Origination fee | 5% (2% for refinance loans) |
| Co-signer required | No |
| Collateral required | No |
| Credit history required | No |
| Visa support | Yes |
| Schools served | 400+ schools in the U.S. and Canada |
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What You'll Learn
- MPOWER loans are available for international students and US citizens studying abroad
- MPOWER offers refinancing for US-based and international student loans
- MPOWER loans are available to students at select schools in the US and Canada
- MPOWER does not require a credit history or cosigner to apply
- MPOWER offers scholarships and additional services to meet the unique needs of students
MPOWER loans are available for international students and US citizens studying abroad
MPOWER Financing offers loans for international students and US citizens studying abroad. The company was founded by international students and provides funding for global students in the US and Canada. MPOWER loans are designed for international students and do not require collateral or a cosigner. The company assesses the student's potential and ability to work in the US and repay the loan.
MPOWER offers loans to students with DACA status, and these students do not need a Social Security number to qualify. MPOWER also provides loans to US citizens and refugees. The company supports students at 500+ schools in the US and Canada, and loans are available to 180+ nationalities.
The application process for an MPOWER loan involves an initial application, initial review, document upload, final review, and school certification and disbursement. The loan application can help students understand their financial plan and how much money to request. Students can request a maximum of US$100,000 per application, with no more than US$50,000 allocated per term, and the total outstanding loan amount cannot exceed US$100,000 at any given time.
MPOWER also offers scholarships and additional services to meet the unique needs of students and graduates. The company provides visa support letters and guidance, and loans may qualify students for US tax deductions of up to $2,500 per year.
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MPOWER offers refinancing for US-based and international student loans
MPOWER Financing provides education loans for international students attending eligible U.S. or Canadian universities. The company also offers refinancing options for international borrowers with education loans from abroad and borrowers with Deferred Action for Childhood Arrivals (DACA) status who are working in the United States.
MPOWER's loan application process helps students better understand their financial plan and how much money they need to request. Students can request a maximum of US$100,000 per application, with no more than US$50,000 allocated per term, and the total outstanding MPOWER loan amount cannot exceed US$100,000 at any given time.
MPOWER's loans are designed specifically for international students and do not require collateral or a cosigner. The company makes loan decisions based on the applicant's future potential, rather than their past. MPOWER offers fixed-rate loans from US$2,001 to US$100,000 total at competitive interest rates, with up to 0.25% in interest rate discounts.
In addition to loans, MPOWER provides visa support letters, exclusive career strategy services, and scholarships to meet the unique needs of international students and graduates. The company also assists students in understanding their loan eligibility and the application process, with initial reviews typically completed within three business days of submitting an application.
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MPOWER loans are available to students at select schools in the US and Canada
MPOWER Financing offers loans to international students and students with Deferred Action for Childhood Arrivals (DACA) status. MPOWER loans are available to students at select schools in the US and Canada. The company supports students at 400-500+ schools in the US and Canada, although one source states that MPOWER works with borrowers from 180+ nationalities.
MPOWER loans are specifically designed with international students in mind. The company does not require collateral or a cosigner, and instead considers the borrower's earning potential and other factors when making underwriting decisions. MPOWER offers a hard-to-find option of non-co-signed loans for international and DACA students. The company also provides visa support letters at no cost to assist applicants.
MPOWER's loan application can help students understand their financial plan and how much money to request. Students can request a maximum of US$100,000 per application, with no more than US$50,000 allocated per term, and the total outstanding MPOWER loan amount cannot exceed US$100,000 at any given time. The interest rate for MPOWER loans is 9.99% (11.16% APR), which includes a 0.25% discount for automatic recurring payments. All MPOWER borrowers are required to make interest-only payments while in school and for six months after graduation, after which they will have a 10-year loan term with full interest plus principal payments.
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MPOWER does not require a credit history or cosigner to apply
MPOWER Financing offers education loans to international students attending eligible universities in the US or Canada. MPOWER does not require a credit history or cosigner to apply for a loan. This is because MPOWER considers the borrower's earning potential when making underwriting decisions, rather than their creditworthiness.
The application process for an MPOWER loan is straightforward. To apply, students must fill out an application form and submit it with a valid, unexpired photo ID. MPOWER will then review the application and contact the applicant within three business days to provide a conditional offer. If the applicant accepts the offer, they must upload the requested documents to their MPOWER dashboard. MPOWER will then verify the documents and issue a final offer.
MPOWER offers loans of up to US$50,000 per term, with a total outstanding loan amount of up to US$100,000. The interest rates for MPOWER loans are competitive, starting at 9.99% (11.16% APR). The company also provides additional services such as visa support letters and scholarships.
MPOWER's mission is to help global students reach their goals by providing financial support and services that meet their unique needs. The company was founded by international students and has been working since 2014 to help students overcome funding challenges.
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MPOWER offers scholarships and additional services to meet the unique needs of students
MPOWER Financing offers education loans and scholarships to international students attending eligible universities in the US and Canada. MPOWER was founded by international students and is committed to helping global students succeed.
MPOWER's loan application process helps students understand their financial plan and how much money they need to request. Students can request a maximum of US$100,000 per application, with no more than US$50,000 allocated per term, and the total outstanding loan amount cannot exceed US$100,000 at any given time. MPOWER also provides visa support letters at no cost to assist applicants.
MPOWER's loans are specifically designed for international students, as they do not require collateral or a cosigner. Instead, MPOWER considers the student's future earning potential and ability to work in the US and repay the loan. MPOWER also offers scholarships, such as the MPOWER Global Citizen Scholarship, which is open to international and DACA students. These scholarships are awarded based on essay submissions that demonstrate the applicant's goals, vision, communication skills, and potential as a leader or change-maker.
In addition to financial support, MPOWER provides visa guidance and other additional services to meet the unique needs of students. MPOWER's fast and smooth loan processing system has been praised by customers, along with their commitment to customer satisfaction, clear communication, and efficient processing.
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Frequently asked questions
No, MPOWER student loans are available for both international students and US citizens. International students must be from one of the countries MPOWER works with. US citizens can also use MPOWER to fund their studies abroad.
MPOWER offers loans to international students without a co-signer or credit history. The company assesses the student's future earning potential and ability to work in the US and repay the loan. Students must be enrolled at one of the 400+ approved schools in the US or Canada.
MPOWER's interest rates are relatively high compared to other lenders. The APR is 11.16%, which includes a 0.25% discount for automatic recurring payments. There is also a 5% origination fee added to the loan balance.
