Approximately 200,000 students from India pursue higher educational opportunities in the United States. Unfortunately, the high price of American degrees can often be cost-prohibitive to many international students. However, this doesn’t mean that your dream of studying in the U.S. is impossible. Our program can help you attain the high-quality American education you seek. Here’s a closer look at what all Indian students who wish to study in the United States should know.
The United States is widely regarded as having the world’s best higher education system. This is for several reasons, including:
American degrees are highly valued by global employers. Because of this, many Indian students often look to the United States for undergraduate and graduate-level studies. There are, however, some challenges for Indian students when it comes to studying in the United States. While the application process is rigorous, the main hurdle waiting for many students after they’ve been accepted is cost. American universities have some of the highest tuition fees in the world.
While navigating the student loan process is a challenge for students all over the world, Indian students face unique barriers that limit their loan eligibility. This is largely because traditional banks and lenders have certain basic requirements that render international students ineligible for qualifying for a loan. These include:
While these factors may be good indicators of whether domestic students are strong candidates for financial support, they disqualify the vast majority of Indian applicants before they can even apply.
While Indian students without ample financial resources may be limited or have no options, MPOWER Financing has been disrupting the student loan market to make loans more accessible. Co-founded by two former international students in the United States, who are well-acquainted with student loan struggles, MPOWER has just three conditions for Indian student loan candidates:
If this sounds simple, that’s because it’s designed to be. MPOWER doesn’t believe that red tape should stand between anyone and their international education aspirations.
There are many benefits of an MPOWER education loan, including the following:
Variable interest rate student loans put students at the mercy of changing rates. This can make it difficult to plan. With MPOWER, you get a fixed interest rate so you can budget accordingly.
MPOWER is also the only lender to offer three interest rate discounts to help you potentially save thousands of dollars.
A U.S. credit history gives you access to many things. Every time you make a payment on your MPOWER loan, MPOWER shares that information with American credit bureaus so you can establish and start building your credit. This will position you to take advantage of future financial opportunities, such as car loans and credit cards.
As long as you’re in the U.S. — either as a student or worker — and earning income in American dollars, your monthly loan payments will not be subject to exchange rate fluctuations. This also means you won’t have to deal with costly wire transfers between MPOWER and your banking institution.
Depending on the specifics of your employment and U.S. laws, your student loan interest may be tax-deductible.
MPOWER is all about bridging the gap between international students and their goals. This isn’t limited to education. We also provide critical career support with Path2Success, a comprehensive program consisting of resume review and interview preparation, internships and full-time jobs, networking, and a monthly newsletter covering everything from career trends to volunteer opportunities.
If you’re an Indian student searching for scholarship support for your studies in the United States or Canada, we can help there, too. Unlike many scholarships for international students which have strict restrictions and entry fees, MPOWER scholarships are designed to be accessible.
Our current scholarships for Indian students include:
When you borrow from MPOWER, we’ll also point you in the direction of complementary scholarship opportunities.
Our application process is relatively straightforward. First, you’ll determine your eligibility and complete the four-part online application. Next, you’ll receive a conditional offer, after which you’ll be asked to upload necessary documents and complete a final assessment. This will culminate in final approval and your disbursement. Once that process is over, our team will still be available to offer guidance throughout the process.
Have questions? Here’s a closer look at some frequently asked questions about MPOWER:
The eligibility check takes only 30 seconds. After you complete the online application, upload your documents, and answer a few short questions, your part of the process is done. Our team will review your application and offer you a final decision within the next three to five days.
After you’ve received your final loan offer, your school will need to verify your enrollment and assess your financial need based on their own records and methods. The amount of time this takes depends on the school, but the average time is usually between two and four weeks.
Your APR depends on the interest rate you receive with your conditional offer. And remember: You can use MPOWERS’s interest rate discounts to reduce it. You’ll also have the peace of mind that comes with knowing your rate won’t change if interest rates rise.
Credit history and credit scores are used by the majority of American lenders for many different things. Without a credit history, it’s hard for lenders to determine your creditworthiness — which means you may not be eligible for low rates or as much credit as you need. MPOWER gives you the chance to demonstrate your creditworthiness by building credit.
If you’re an Indian student looking to leverage the benefits of studying in the United States, MPOWER represents a new and exciting alternative. To see if you qualify for an MPOWER loan, check your eligibility today!
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.
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