Funds to achieve your study abroad dreams

Our loans don’t require a cosigner or collateral - because we believe in your future potential.

A loan based on 

your future earnings

An international student loan with us is an easy and affordable way to fund your education on your own. Our loans help support your independence since we never require a cosigner or collateral.

Rely on low rates and high limits
  • Loans from US$2,001 to US$100,000
  • Fixed and competitive interest rates that will never increase
  • Earn a discount on your interest rate

Loans that fit your life
  • Quick conditional loan offer 
  • No prepayment penalty 
  • Students supported at 400+ U.S. and Canadian schools 

Benefits that go beyond funding
  • Visa support
  • Career development guidance
  • Access to information on topics that matter most to international students

Who’s eligible for funding?

You could be eligible for an MPOWER student loan if you’re:

  • An undergraduate or graduate student within 2 years of graduating or about to begin a 1-year or 2-year program.
  • An international student, DACA recipient, U.S. citizen, refugee, or asylum-seeker.
  • Admitted to or attending one of our 400+ approved schools in the U.S. or Canada.
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Our loan terms

MPOWER student loans provide benefits beyond funding for every type of student:

  • No fees paid out-of-pocket, pay nothing until your first interest-only loan payment
  • Fund up to 100% of education expenses, including living expenses for schools in the U.S.
  • Get visa support, career services, and build your U.S. credit history by making on-time payments

Find your interest rates and terms

Interest Rate Before Discount – Graduate
12.99% (13.98% APR)

– Undergraduate
13.99% (15.01% APR)

Interest Rate Discount 0.25% for signing up for autopay
Interest Rate After Discount – Graduate
12.74% (13.72% APR)

– Undergraduate
13.74% (14.75% APR)

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.
Prepayment Penalty None
Other considerations
U.S. Credit History Building 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

Ready to apply
for funding?

Start my application

What our students say

 Your questions, answered

Our most common funding-related questions and answers.

MPOWER supports 400+ 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.

  • Check Loan Eligibility: Find out if your school and program are eligible. 
  • Initial Application: Fill out and submit the application with a valid, unexpired photo ID.
  • Initial Review: Your application will be reviewed by MPOWER, and you will be contacted within three business days about a conditional offer. In certain circumstances, you may receive a conditional offer immediately after submitting your application.
  • Upload Documents: If you receive a conditional offer from MPOWER, you must next upload the requested documents to your MPOWER dashboard, watch an introduction video, and complete a short assessment.
  • Final Review: MPOWER verifies all your uploaded documents so we can issue a final offer. If the loan is approved, we will also provide you with a visa support letter if requested.
  • School Certification and Disbursement: After you’re approved for a loan, MPOWER submits your loan application to your school for verification. This process is called the certification process, and the timeline is dependent on your school.

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$50,000 per application and US$100,000 maximum (overall). Regardless of the amount you decide to request, we always tell students if they qualify for more or less than their requested amount. 

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) International Student

b) DACA Student

c) Domestic Student

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.

Looking to refinance other
student loans with us?

Explore refinancing options

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.

2022 © MPOWER Financing, Public Benefit Corporation NMLS ID #1233542. 1101 Connecticut Ave NW Suite 900, Washington, DC 20036