Introducing MPOWER: The Essentials

by MPOWER Financing | In In The News | 20 July 2022

This is the second of our 9-part product introduction series. Each month, we’ll walk you through the critical parts of our Student Guide. This month’s blog will teach you all the MPOWER essentials. Next month, I’ll be explaining why an MPOWER loan is different from other student loans.

Who we are

MPOWER is the leader in international student financing, with over 400 supported universities across the United States and Canada.

We’re a community of global citizens who are passionate about access to quality education regardless of background or country of origin. As a Public Benefit Corporation, helping people is at the heart of what we do.

Our mission

MPOWER helps promising global citizens who want to reach their academic and financial dreams. We believe access to a good education should be borderless. To achieve this, we offer no-cosigner, no-collateral loans to international students who are studying in the U.S. and Canada, as well as DACA students and refugees/asylees.

We want to create positive social change in the world by helping promising students who do not have the option to apply for a loan through traditional lenders. Our team is passionate about helping international students get a quality education in the U.S. or Canada, no matter their background or country of origin. 

We feel so strongly about our mission because we’ve been in your shoes — MPOWER  is founded and operated by a committed group of former international students. 

Who can benefit from an MPOWER loan?

MPOWER offers student loans to:

  • International students
  • DACA (Deferred Action for Childhood Arrivals) recipients
  • Asylum seekers
  • Refugees
  • U.S. citizens, Canadian citizens, and permanent residents

We help undergraduate and graduate students who will earn their degree in the next 2 years. To apply, you must be admitted to or enrolled in a degree program at one of our supported schools.

Interested in learning more? Read on to find out why an MPOWER loan could help you. 

Why is MPOWER the best choice for international students? 

We work with over 400 top universities and colleges in the U.S. and Canada. Borrowers can get a loan without having:

  • A cosigner
  • U.S. credit history
  • Collateral 

We can offer loans without these traditional requirements because our future-first credit model considers your academic success and career path, not just your existing financial assets. In addition to funding your program tuition, you can also use our loans for books, housing, health care, and more. 

Features of our loan product:

  • You can borrow between US$2,001 and US$100,000 during an academic year.  
  • Our loan repayment is a 10-year term with no prepayment penalties — you’ll never incur a fee for paying back your loan early. 
  • Make only interest payments while you study and for 6 months after graduation — you’ll pay less while in school and build your U.S. credit history at the same time. 

MPOWER is more than just a loan company — we care about your future. All of our borrowers get immediate access to a portfolio of career-building resources through our Path2Success program. Perks include resume review, networking opportunities, paid internship and full-time employment opportunities, and an exclusive LinkedIn group.

MPOWER Financing by the numbers

Just to sum it up:

  • We work with over 400 top colleges and universities.
  • Our students come from over 200 different countries.
  • 35% of our customers are first-generation students of higher education
  • 76% hail from emerging markets
  • 85% say they couldn’t finance their degree without MPOWER
  • It only takes 1 minute to determine if you’re eligible to apply for an MPOWER loan!

Find out more and see if your program is eligible for an MPOWER loan online. 

Author: View all post by MPOWER Financing

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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.

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