Am I eligible?
You could be eligible if you are:
A DACA recipient (more information can be found here)
Admitted to or attending one of our 350 schools in the United States
A current or prospective undergraduate or graduate student within 2 years of graduating
All MPOWER Scholarships are open to DACA students
MPOWER will never share any information about your DACA status with outside parties
We support DACA students
Reduced rates on our no-cosigner loans for DACA students
Graduate DACA students: 7.99% introductory rate (8.89% APR), reduced to 6.49% (7.52% APR) if you qualify for all 3 interest rate discounts
Undergraduate DACA students: 9.99% introductory rate (10.91% APR), reduced to 8.49% (9.56% APR) if you qualify for all 3 interest rate discounts
1.50% interest rate discounts available:
- 0.50% for autopay sign-up
- 0.50% for 6 months of autopay payments
- 0.50% upon proof of graduation and full-time employment
Words From our Founder
Manu Smadja, CEO and co-founder of MPOWER Financing
“We started offering loans to DACA students because we wanted to help them overcome all the hurdles they face: they can’t access federal loans or grants, and their parents often have limited credit history, which can preclude them from qualifying as co-signers on a private loan. That made our no-cosigner loan a perfect fit.”
How does the loan process work
Receive a final approval once we validate your uploaded documents. We will also provide a visa support letter if you need it.
Check to see if you and your school are eligible
Complete your online application in under 30 minutes.
Receive a final approval once we validate your uploaded documents. We will also provide a visa support letter if you need it.
Receive a conditional offer decision immediately
Upload your documents to the MPOWER dashboard, watch an intro video and complete a short assessment.
Receive a final approval once we validate your uploaded documents. We will also provide a visa support letter if you need it.
Receive a final approval once we validate your uploaded documents. We will also provide a visa support letter if you need it.
Relax while your school certifies your enrollment status. Once done, we disburse your funds directly to the school on their requested date.
Check to see if you and your school are eligible
Complete your online application in under 30 minutes.
Receive a conditional offer decision immediately
Upload your documents to the MPOWER dashboard, watch an intro video and complete a short assessment.
Receive a final approval once we validate your uploaded documents. We will also provide a visa support letter if you need it.
Relax while your school certifies your enrollment status. Once done, we disburse your funds directly to the school on their requested date.
Calculate Your Student Loan Payments
frequently asked questions about our student loan program
DACA students are eligible to apply for an MPOWER student loan!
If you have already started an application, log in to complete it. If you need to request additional funds from your approved amount, click “Request my funding.”
We're excited to invite you to our community
MPOWER will never share any information about your DACA status with outside parties
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.
2021 © MPOWER Financing, Public Benefit Corporation NMLS ID #1233542. 1101 Connecticut Ave NW Suite 900, Washington, DC 20036