MPOWER refinances education loans from around the world up to US$100,000 with no cosigner.
International US


Refinance your student loan in the U.S. and gain independence

Release your cosigner and collateral, and simplify your payments

Check Eligibility

Simplify payments and gain flexibility

You’ve earned a degree from a top university, started a great career and built a life for yourself in the U.S. Isn’t it time to reap the rewards of your hard work?

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Qualify for interest rate as low as 9.99% (APR 11.52%*).
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Release your cosigner and collateral.
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Gain U.S. tax benefit against your interest repayments upto $2,500/year.
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Build U.S. credit history via timely payments.
*Includes a 0.25% discount for enrolling in automatic payments. Subject to credit approval.
Simplify payments

Am I eligible for an MPOWER loan?

You could be eligible if you: 

Have at least 12 months valid work authorization
Have at least 12 months valid work authorization (including H-1B, F-1 OPT and STEM OPT).
worked in the U.S. for at least three months full-time
Live in the U.S. and have worked in the U.S. for at least three months full-time postgraduation.

How does the online application work?

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1. Prequalify

Check to see if you are eligible.

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2. Upload documents

Submit documents supporting your application on dashboard.

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3. Disbursement

We will disburse funds directly into your original lender’s account.

CHECK ELIGIBILITY

International student testimonials

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I would recommend MPOWER to all the students and employed people here who want to enjoy the tax benefits, lower interest rates and independence.
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Salil Tari | tech consultant, at PwC

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I had a brilliant experience with MPOWER and would recommend it to everyone who wants to refinance their education loan.
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Pratibha Tiwari | MS in information systems and data analyst

Our loan terms

Refi loan terms

Minimum Loan Amount US$2,001
Maximum Loan Аmount US$100,000
Fixed interest rates
(Fixed for the life of the loan.)		 MPOWER’s fixed interest rates are as low as 9.99% (11.52% 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
Prepayment penalty None

Other considerations

Building U.S. credit history Yes – Timely repayment of your MPOWER student loan builds credit history across all credit bureaus.
Release Collateral or cosigner Never required at MPOWER. Get your co-applicants & collateral (if any) freed from your education loan obligations.
Enjoy Tax Benefits Claim up to US$2,500/year in student loan interest tax deductions as per IRS regulations.
Enjoy Employer Matching Benefits Get a tax free assistance upto US$5250/year for your US based refinanced education loan with MPOWER under IRS guidelines (Check with your employer first).
Global payments Free – Global citizen? Move across to any corner of the globe and still repay your loan easily.

How you benefit from refinancing with MPOWER

MPOWER IconMPOWER
Indian FlagTypical Indian lenders
Release your cosigner and collateral check mark no outline mark
Qualify for tax benefits up to $2500/year and employer matching benefits up to $5250/year check mark no outline mark
Reduce monthly payments and total interest check mark no outline mark
Lock in a fixed interest rate check mark no outline mark
Guaranteed no prepayment penalty check mark no outline mark
Build U.S. credit history through timely repayments check mark no outline mark
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Release your cosigner and take care of your family

Did your parents cosign your loan? Are they feeling stressed about their financial obligation, unable to cosign a loan for a sibling, invest in their business or just retire?

They’ve taken care of you; now you have the opportunity to return the favor and give your family more freedom. When you refinance your loan with MPOWER, you’ll be able to pay off your home-country loan and release your cosigner and collateral.

Take advantage of employer matching to pay off your loan sooner

U.S. employers can make up to US$5,250 in student loan payments to an employee each year tax-free. But, only U.S. student loans like MPOWER's qualify. Refinancing is a win-win for you and your employer to pay off your loan sooner. Don't leave money on the table.

Frequently asked questions

Identification documents:

  • Upload a clear and valid copy of your passport or a government-issued photo ID from your country of citizenship.

Employment documents:

  • Provide a copy of your job offer letter.
  • Submit your pay stubs for the most recent three months.

Address proof documents:

  • Utility bills (e.g., electricity, water, gas) or insurance company bills
  • Signed lease agreements
  • Bank statements or loan documents
  • Government-issued photo ID or document
  • Property tax bills or income tax returns

The origination fee for refinancing is 6.50% of your loan amount. This fee isn’t paid upfront and is added to your loan balance at disbursement.

Example: If your disbursed loan amount is US $10,000, the origination fee would be US $650, which is 6.5% of US $10,000. Thus, your total loan amount would be US $10,650.

No, there is no prepayment penalty for paying off your refinanced student loan with MPOWER. You can make additional payments or pay off your loan early without incurring any extra fees.

You can lower your interest rate by setting up automatic recurring payments (auto pay) to receive a 0.25% discount on your interest rate. While negotiating the interest rate isn’t an option, enrolling in auto pay and consistently making on-time payments can significantly lower your overall borrowing costs over time.

If your MPOWER loan application was declined, you can reapply after a waiting period. Here are some important things to keep in mind:
Review the decline letter:

  • Understand the reasons: You will have received a detailed letter explaining why your application was declined. Review this letter to understand the reasons and identify any actions you can take.
  • Address the decline reasons: Before reapplying, address the issues mentioned in the decline letter. This can improve your chances of a successful application or help if you decide to request an appeal.

You can submit a new application 90 days after being declined. Please note that the loan decision may also remain unchanged if your circumstances have not changed.

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.

2026 © 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
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