Make your study abroad dream a reality
No cosigner. No collateral. Just simple, secure funding for U.S. and Canadian schools.
Make your study abroad dream a reality
No cosigner. No collateral. Just simple, secure funding for U.S. and Canadian schools.
Empowering your journey, not just funding it
Our international student loans are designed to support your aspirations – not tie them down. With no cosigner or collateral required, you can confidently take the next step in your education and build a future on your own terms.
*Rates as low as 9.99% (10.89% APR). This interest rate and APR includes a 0.25% discount for automatic recurring payments.
You may qualify for an MPOWER loan if you’re:
What you receive with an MPOWER loan
No upfront fees – you pay nothing until your first interest-only payment.
Fund up to 100% of education costs, including living expenses (U.S. schools only).
Get visa help, career support and build your U.S. credit with on-time payments.
MPOWER loan terms at a glance
| Fixed Interest rates (Fixed for the life of the loan) |
MPOWER’s fixed interest rates are as low as 9.99% (10.89% APR). This rate includes a 0.25% discount for automatic recurring payments. |
| Interest rate discount | 0.25% discount with auto pay |
| Interest rate type | Fixed – This means your rate won’t change and your payment will remain the same even in a rising interest rate environment. |
| Term | 10-year repayment |
| In-school payment | Interest-only payments while in school and for six months after graduation.
Note: The interest-only period is capped to a maximum of 30 months from the date of disbursement. |
| Prepayment penalty | None |
| Building U.S. credit history | Yes – Timely repayment of your MPOWER student loan builds credit history. |
| Collateral or cosigner | Never required |
| Visa support letter (to obtain I-20 from your school) | Free |
| Career services | Free |
| Global payments | Free – Pay from anywhere, anytime |
Find out if you qualify for a student loan—fast, easy and risk-free.
Check eligibility
MPOWER has been a true game-changer in my journey as an international student. From offering a smooth and student-friendly loan process to granting me the September Monthly Scholarship, they’ve not only supported my education financially but also uplifted my confidence. Their genuine commitment to empowering students like me makes MPOWER a source of encouragement and opportunity in my academic path.
The MPOWER loan application process was seamless! I applied for funding in 2022 after gaining admission to Yeshiva University for a master’s program. Due to constraints, I requested a deferral from the spring intake to the fall 2023 intake, which MPOWER honored after I provided the new offer letter. They offered excellent visa preparation webinars and consistently checked on my progress. While studying, I make interest-only payments at a fixed rate. MPOWER’s customer support is outstanding, and they provided career guidance and employment readiness programs. I highly recommend MPOWER to STEM candidates anytime!
It all started back in 2023. I was just scrolling through the internet when I came across MPOWER. I had no idea then that it would lead me to where I am now: a proud graduate with my master’s degree as of January, and now beginning a new chapter as a working professional here in Canada. As an international student for two years, the journey was nothing short of a rollercoaster, and honestly, it felt like more downs than ups at times. But looking back, if I had to make the choice all over again, I’d still choose MPOWER. Forever grateful.
Getting support from MPOWER Financing was a game-changer that helped me pursue my MSc in Integrated Petroleum Geosciences at the University of Alberta, Canada. Fueled by my passion for education and impact, I took a bold step and never looked back. No regrets! MPOWER empowered and believed in my dream, and here I am today, watching my dreams come true. To every international student out there: Don’t let obstacles stop you. If your dreams are valid, they are worth fighting for. Keep pushing! Your future is worth it! Nothing is impossible when you stay determined and believe in yourself!
Being far from home and pursuing a degree in a new country is both exciting and challenging. One of the biggest hurdles as an international student was finding financial support, but MPOWER made it possible. Their support played a key role in helping me move forward with my education and future, and I'm incredibly grateful for that. Beyond financial support, their team has been kind, responsive and encouraging throughout the process.
Our most common funding-related questions and answers.
MPOWER provides funding for students at 500+ schools across the U.S. and Canada. View the complete school list or check your loan eligibility to see if the school you are admitted to or enrolled in is one of them.
MPOWER loans can be used for university-related expenses, including but not limited to tuition, books, meal plans, housing, and health insurance at most schools when studying in the U.S. We suggest reaching out to your school with any concerns about how your funds may be allocated.
You can apply for a loan a maximum of 12 months prior to when you need the money for school. Check out this video for more tips.
Here’s a helpful tip: try not to request more than your anticipated starting salary after graduation. If you’re still unsure of the amount you’ll need, our loan application can help you better understand your financial plan and how much money to request. You 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 can issue visa support letters at no cost to assist our applicants, upon final credit approval.
Please select the option below that best describes you:
a) Document checklist if you’re admitted or recently enrolled
b) Document checklist if you have completed at least one semester
How to read the document checklist: The document checklist represents the documents that may be needed from you during the application process. In this checklist, you will see “Included” and “Not applicable” columns.
Disclaimer: Not all the documents in this checklist will be applicable to your situation. If you are unclear about some of the documents mentioned in our checklist, please reach out to us.
Refinancing lets you replace your home-country education loan with a U.S.-based loan—often at lower interest rates, release your cosigner/collateral, all with no need for additional cosigner or collateral.
DISCLAIMER – Subject to credit approval, loans are made by Bank of Lake Mills or MPOWER Financing, PBC. Bank of Lake Mills does not have an ownership interest in MPOWER Financing. Neither MPOWER Financing nor Bank of Lake Mills is affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. None of the information contained in this website constitutes a recommendation, solicitation or offer by MPOWER Financing or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.
2025 © MPOWER Financing, Public Benefit Corporation NMLS ID #1233542
 U.S. office |
 India office |
| 1101 Connecticut Ave. NW Suite 900, Washington, DC 20036 | The Cube at Karle Town Center, 9th Floor, 100 Ft, Nada Prabhu Kempe Gowda Main Road, Next to Nagavara, Bengaluru, Karnataka 560045, India |
