What interest rate can I expect?

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% ().

 

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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.