You can borrow with fixed interest rates between 7.99% () and 13.99% (). These will be the maximum rates and will never increase. However, MPOWER offers borrowers 3 ways to qualify for discounts:
1) 0.50% rate discount by repaying your loan through automatic withdrawal,
2) an additional 0.50% discount for making 6 consecutive on-time payments while repaying your loan through automatic withdrawal,
3) and another 0.50% discount for reporting proof of graduation and employment
If you qualify for all these discounts, your rate will range between 6.49% () and 12.49% ().