International student success story: From Bangladesh to Temple University

Bangladeshi postgraduate student Md Mahbub Alam is pursuing  a master’s degree in the U.S. to improve his career prospects thanks to an MPOWER Financing student loan.

Gaining a career advantage through a U.S. education 

Mahbub is enrolled in a postgraduate business analytics program at Temple University in Pennsylvania. With more than a decade of professional experience, he believes his U.S. degree will be well worth the investment. “I have a certain level of experience, and if I get the master’s background from the United States, I think that it will give me a great boost in my career,” Mahbub says.

Here’s how Mahbub’s journey from Bangladesh to Temple University unfolded and how an MPOWER Financing student loan helped him along the way.

Savings were not enough for studying abroad

Before coming to the United States, Mahbub earned his undergraduate degree in Bangladesh and immediately began saving money toward a master’s program. He diligently began building his career, spending many years in fintech and telecommunications. Mahbub then started a master’s program at the leading private university in Bangladesh but decided to pause his studies because he believed that better education was available in the United States. He was excited to pursue his lifelong dream of studying abroad in the U.S.

While Mahbub had enough money to cover his living expenses, he lacked the funds for tuition. So, he next began exploring student loans in Bangladesh.

Even though he had saved a good amount of money, it wasn’t enough to earn his master’s because he had a family to support, as well. “I think that at that time I thought that if I take the loan for my tuition fee, it will be easy for me to continue,” he says.

Funding an education abroad with an MPOWER Financing student loan

When Mahbub began researching international student loan in Bangladesh, he was unaware of MPOWER Financing. He quickly discovered most lenders require a cosigner, or guarantor, a challenge for many international students without such support. The cosigner requirement makes it nearly impossible for many international students to pursue their study abroad aspirations.

After extensive research into financing his education, Mahbub found a few lenders who don’t require collateral or a cosigner. MPOWER was one of them. Mahbub says choosing MPOWER Financing relieved a significant amount of pressure and allowed him to focus on his studies rather than financial concerns. He recommends MPOWER loans to his friends and colleagues in both his home country and the U.S.

“If someone is searching for a loan, then definitely I will recommend MPOWER. I think that MPOWER is the best option if you do not have a cosigner.”

Transition to the U.S.

Unlike many students, Mahbub moved to the U.S. with his family – his wife and two daughters. Having dependents while settling in a foreign country added additional stress and pressure. However, Mahbub says the transition ended up being less difficult than he imagined, even though he no longer had an income.

He says his kids struggled the most to adapt to their new home and country, but, after a couple of months, they settled in, and his older daughter began attending a local school.

During the transition, Mahbub says he took advice from American writer Darren Hardy. “When you start a new thing,” Mahbub paraphrases,  “[there are] lots of struggles. Tough things will come. But after a few days … you will see that the thing was not so tough.” This philosophy enabled him to keep moving forward and not give up on studying abroad.

Now settled with his family in the U.S. pursuing his degree, Mahub thinks about his future plans.  After graduation, he plans to stay in the U.S. for at least three years to gain experience in the U.S. market. However, he’s not ruling out the possibility of returning to Bangladesh. Mahbub is confident that having a U.S. degree will enable him to secure good employment opportunities in his home country at internationally recognized firms.

Advice for fellow international students from Bangladesh

Mahbub believes a person’s determination to learn and willingness to invest their time are the two key elements that matter when pursuing one’s dreams.

And if they want to secure their future, whatever their financial condition, they should take whatever steps needed to move forward. “If somebody from Bangladesh wants to complete his master’s or MBA from the United States, especially, I recommend [the] U.S., even Canada, they should go for it.” 

If you’re interested in joining students, like Mahbub, who are studying overseas, start an application to check your eligibility today, it takes less than one minute!

 

Apply Now

International student success story: From the Philippines to a master’s in industrial engineering in Canada

Life sometimes offers opportunities we could never have imagined. That’s what happened to Troy Agujar, an international student from the Philippines pursuing a master’s degree in industrial engineering at the University of Windsor in Canada. 

Troy hadn’t thought about studying abroad until he helped a friend find a school in Australia. Going through the process sparked his own interest. Initially, he was scared at the thought of studying abroad, but he pushed through his fears and moved forward. Now he’s grateful he chose this path. 

Choosing a university and the program

While helping his friend pursue study abroad, Troy soon realized international education came with a hefty price tag. 

Not letting that hold him back, Troy began searching for countries offering an affordable, quality education. Canada emerged as a promising destination with reputable institutions and reasonable tuition fees. The master’s program in industrial engineering at the University of Windsor especially appealed to Troy because it aligned perfectly with his academic background and career aspirations.

Funding education abroad

While the University of Windsor’s expenses were closer to what Troy could afford, he still needed outside funding to cover the remaining costs. 

Troy explored scholarships first but determined awards wouldn’t cover all of his expenses. So, he began looking into a study abroad education loan for international students. During an online search, Troy quickly found MPOWER Financing. 

“The first thing that came out [in the Google Search] was MPOWER Financing. I saw that it gives out loans even though you don’t have a collateral or cosigner, and it sounds way too good to be true. I read some posts on Facebook and tried to find out if this was really legit.”

Convinced he had found a solid resource, Troy submitted an online application, and MPOWER approved his loan. He couldn’t have been happier. 

“With MPOWER, it gives you freedom to choose which university you want to study in and without those intimidating requirements [for scholarships].” 

Troy’s plan after graduation

Now, with graduation on the horizon, Troy envisions a career in manufacturing that leverages his proximity to Michigan, a hub for industrial activity in the U.S. He’s confident he’ll secure a fulfilling position and gain invaluable experience in the global market before returning to the Philippines. His ultimate goal is to impart the knowledge acquired abroad to fellow engineers, enriching his homeland’s industrial landscape.

“I would love to make or create a business back home. There are a lot of business ideas that I have, and I would love to introduce in Cebu. I could go for the biggest companies back home in the Philippines.”

Advice for fellow Filipino students

Troy’s advice to Filipino students considering education abroad is meticulous financial planning. He says students should analyze their budgets carefully to reduce financial stress and be able to focus on academics.

“It’s really important how you consider your plans and how you are going to pay for the interest on top of daily expenses. You have to lay out your plan first and then go ahead and apply for the loan.”

Last thoughts: From the Philippines to Canada

Troy’s journey is a testament to the power of determination and resilience. He confronted the challenges of studying abroad with determination and is realizing his dream of earning a master’s in industrial engineering. 

MPOWER Financing provided the financial support Troy needed to turn his aspirations into reality. MPOWER is ready to help more students like Troy achieve their academic goals. No dream is too big; no obstacle too great.

Interested in financing your education as an international student abroad? Start an application and check your eligibility in less than a minute.

 

Apply Now

International student success story: From Argentina to Carnegie Mellon

Argentinian postgraduate student Daniel Garaguso was excited about the prospect of studying overseas and a future career in the pharmaceutical industry helping to provide treatments that end suffering. He’d been admitted to one of the most prestigious schools in the U.S. and even had scholarships, but he didn’t have enough funds to cover all his expenses. Eventually, he found the resources to fund his education abroad. Here’s Daniel’s story.

Funding a postgraduate degree abroad

Daniel was excited about his admission to the MBA program at Carnegie Mellon University in Pittsburgh, Pennsylvania. He knew the value a postgraduate degree in the U.S. would bring.

“Having a master’s degree puts you in a position where you become a specialist, targeting a special segment of your career or something you want to achieve,” he says. “That’s why I wanted to pursue a master’s degree. I thought it would give me the best opportunity to find the right companies, build my network and show all my proficiency to the international market.”

But the money he’d been able to pull together through savings and scholarships just wasn’t enough, and he knew he needed a loan.

“I knew it was worth it, and I knew that the return on my investment in this career would be much higher than the cost, but I needed a company to finance and have that loan.”

Unfavorable and fluctuating exchange rates made paying for a U.S. education with Argentine pesos challenging. Daniel decided a fixed-rate student loan in U.S. dollars was the way to go. He started his research by talking to fellow South American students who’d secured education funding through MPOWER Financing’s no-collateral student loans.

How MPOWER Financing can help international students from Argentina

Funding an overseas education can be a challenge for any international student. Lenders like MPOWER Financing can help students overcome the barriers created at home by recessions, inflation and unfavorable exchange rates with funds in U.S. dollars disbursed directly to a school in the U.S. or Canada. Daniel knew an MPOWER loan was the key to a future international career:

“I was a little worried because I knew that without funding, I wasn’t going to make it. I still remember when I received an email saying that my loan was approved. It was indeed the start of something so great and beautiful that has happened to me and my family.”

Future career goals 

Daniel is driven by his desire to help people suffering from diseases. It’s what propelled him into the pharmaceutical industry and continues to drive him.

“I dream (of) leading projects that will bring new drugs, new products, new treatments – things that will … mean something to stop pain and suffering in this world.”

Advice for future international students

Daniel strongly encourages every international student to trust themselves and have a clear financial plan. 

“I know you have skills, I know you have these dreams and this hunger to succeed. But it’s not going to be easy. It will be challenging, and that’s why it’s very important to cover your funding (for) your school. Because by doing so you can focus all your strength on the fight to earn your place in the international market. Just be prepared, be confident and have a lot of self-esteem.”

Final thoughts

Daniel Garaguso’s journey from Argentina to an MBA in the U.S. mirrors the challenges faced by many international students. Daniel has successfully navigated the complexities of financing his education, combining savings, scholarships and an education loan through MPOWER Financing. With a passion for making a meaningful impact in the world, Daniel is  an inspiration to others with global aspirations. 

Interested in financing your education as an international student abroad? Start an application and check your eligibility in less than a minute.

 

Apply Now

International student success story: From China to Syracuse University

In the midst of the COVID-19 pandemic, Liang Dawen faced rising tuition costs and uncertainty that he could continue pursuing a master’s degree in the United States. With support from MPOWER Financing, he found the financial assistance he needed to continue his studies.

Liang chose to study abroad in the U.S. to take his knowledge of computer science and information technology to the next level. He’d worked in the computer science industry for more than 15 years but knew a master’s degree would drive long-term career growth. 

After unexpected financial hardship, he turned to MPOWER Financing for funding to continue his studies in the U.S. Read more to learn about Liang Dawen’s study abroad journey and how MPOWER supported his study abroad goals.

A solution to unexpected financial challenges when studying abroad 

Liang had planned carefully for studying abroad, but he couldn’t plan for the pandemic and how it would disrupt his life. Liang’s story is an example of how MPOWER Financing supports international students at all stages of their journey. In his second academic year at Syracuse University, Liang found himself short of funds when the pandemic affected his family’s ability to continue helping him to pay for school. He even contemplated returning home to China. Refusing to quit, he began searching for a solution and discovered MPOWER.

MPOWER Financing is a fintech company that empowers international students, DACA recipients and refugees to attend universities in the U.S. and Canada through loans, scholarships and its Path2Success program, which includes career development resources. Former international students founded the company to help students from around the world study abroad. 

Liang found MPOWER just in time as he needed to come up with funds quickly.  Many loan providers take several weeks to respond, but MPOWER gave him a rapid response in just a couple of days.

“I felt that MPOWER specifically provides loans to STEM students and assesses the student’s potential, their ability to work in the United States and repay the loan,” said Liang in an interview with MPOWER Financing conducted in Chinese and translated here into English. “I think it’s a very solid and practical product. It’s not like they’re assessing my eligibility for approval based on credit when I have no credit history in the U.S.”

After finding MPOWER, Liang was able to continue his program at Syracuse University and receive the funding he needed to remain in the U.S.

Adjusting from life in China to American culture

Culture shock is an inevitable part of studying abroad. For Liang, the biggest challenge was language. In China, he was used to British English and spellings. American English proved very different.

“As long as you spend enough time in the United States and don’t limit yourself to only interacting with Chinese students, you’ll inevitably encounter different accents and American expressions that differ from British English,” said Liang. 

Liang particularly admires the individualistic and free spirit that thrives in American culture. He was used to a more traditional society and needed to adapt and engage with different cultural groups. 

Liang shared that his experiences in the U.S. have supported his understanding of diverse cultures and confidence while navigating the workforce abroad. 

Advice for studying abroad

Liang has a few tips for students exploring study abroad opportunities or currently in school abroad. He believes it’s important to focus on academics to ensure you remain on track, and he advises living with students from different countries. 

“This can make your entire life immersed in English and not give yourself too much space to speak Chinese everyday. Speaking Chinese all the time can weaken your determination to learn English,” said Liang. 

Financial support is available for international students to study abroad

Despite the very real possibility he’d have to quit school, Liang earned his master’s degree from Syracuse in 2023. His success shows there’s support for international students at any stage of their journey. 

Applying for an MPOWER Financing loan is an easy and straightforward process. It takes less than one minute, check if you’re eligible for a loan today! 

 

Apply Now

International student success story: From Colombia to the U.S.

Colombian student Andres Felipe Tocaruncho is a young scholar driven by a desire for knowledge and cultural enrichment. Eager to broaden his educational horizons outside his homeland, Andres decided to explore academic opportunities in the U.S., but he needed help paying for it. Let’s take a closer look at Andres’ story and how he was able to afford his education abroad.

Financing his education abroad

Prior to coming to the U.S., Andres earned an undergraduate degree in systems engineering and industrial engineering in Colombia. After graduation, he focused on developing his career in data analytics. After a couple of years working, however, Andres realized that the demand for data analytics and management was rapidly increasing and to stay up to date with it, he would have to pursue a master’s degree.

That led him to pursue a master’s in business analytics at Hult International Business School in Boston – a program he believed would complement his undergraduate degree in systems engineering and industrial engineering, as businesses today depend heavily on data management.

When Andres found himself needing additional funds while at Hult, his school advisors  encouraged him to look into MPOWER Financing. His experience with MPOWER, he says, has been very positive.

“The application was very straightforward. The steps are quite quick, very concise. Any questions one may have, you can contact them, and they are very attentive to respond as quickly as possible. They have interest rates that are quite competitive in the market, so it’s a very good option. One can have confidence that it is safe and honest. So far, my experience has been very good.”

Financial empowerment

Andres appreciates MPOWER’s fixed-rate student loan as it helps him with budgeting – because his monthly payments never change. He also likes that he can always check the MPOWER Portal to see what he owes over time.

“The first payments are much lower than the subsequent ones. The initial payments are quite manageable, especially because you’re not receiving any income, but from then on, MPOWER takes care of showing me what the monthly payments will be, at a fixed rate, and it’s very easy to handle everything in that aspect.”

Studying abroad in the U.S.

Andres has enjoyed his experience in the U.S. so far. He believes the cultural diversity and variety of knowledge he gains daily is important to his personal growth.

“Meeting new people, being able to communicate with other cultures, exploring a city I didn’t know, and learning about new topics have been very important to me.”  

Plans for the future

After graduation, Andres plans to return to Colombia and share his knowledge with fellow professionals. He aspires to earn a promotion to a managerial position and continue to advance in his career. Andres is confident his U.S. degree and experience abroad will help him secure a position in the future.

“I feel very happy with the decision I’m making right now. I feel that I’m in a good school, and the program is very good – the business analytics program I’m currently in is excellent and highly recognized in the business world.”

Advice for fellow international students

Andres has taken a practical approach to studying abroad. He recommends researching where you plan to live and estimating expenses, including accommodations, transportation, food and other variables. Creating a spending plan outlining all of his needs has helped Andres have a realistic understanding of the cost of life abroad. 

“Create a monthly budget to understand how much money you need, taking into account your savings or the money you will bring, and, above all, know how much you need to borrow to live. It’s important to always be well organized with finances to achieve everything.”

Final thoughts: From Colombia to the U.S.

Andres’ story highlights the transformative impact of international education and the importance of financial empowerment. His experience of studying abroad and financing his education through MPOWER Financing reveals the value of accessible funding options. 

As he prepares to contribute his expertise to Colombia, Andres emphasizes the need for thorough research and financial planning when studying abroad. His journey shows that with determination and support, opportunities for international study programs are limitless.

Interested in financing your education as an international student abroad? Start an application and check your eligibility in less than a minute.

 

Apply Now

How to finance your computer science degree as an international student

A postgraduate degree in computer science can open the door to a high-paying career after graduation. But first you’ll need to figure out how to pay for it. While international students are not eligible for federal financial aid they can pursue other options, such as grants, international student scholarships and private student loans. 

Here are five tips for financing your computer science degree as an international student. 

1. Choose an affordable school

Before choosing a university for your master’s program, it’s worth comparing tuition costs at multiple schools. According to College Board, the average annual cost of tuition and fees is US$29,150 at public four-year colleges for out-of–state students and US$41,540 at private colleges. Over four years, you could be looking at a price tag anywhere from US$116,600 to US$166,160.

However, some colleges charge much higher tuition rates than others. If you’re looking to reduce costs, pick a school that has both the computer science program you want and a price tag that works with your budget. 

2. Apply for grants and scholarships 

Grants and scholarships are funding sources that you don’t have to pay back. One example of a STEM scholarship available for postgraduate computer science students and other STEM master’s students is the MPOWER Women in STEM Scholarship. Every year, MPOWER awards three scholarships between US$1,000 and US$6,000 to women enrolled in a STEM degree program in the U.S. or Canada.

You can find additional opportunities with scholarship search engines, such as International Student’s scholarship search, FastWeb, College Board, Peterson’s and Scholarships.com. You can also reach out to your school’s international student services office to inquire about additional opportunities. 

3. Pursue other financial aid opportunities 

Although as an international student you can’t access federal financial aid, you may qualify for institutional aid from your college or university. Reach out to the admissions office, as well as international student services, to find out whether the school offers any aid for international students. Princeton, for example, says it meets the financial needs of all students, including international students, through grants, work-study or student loans. 

You might also explore your home country’s education department or other local organizations to find funding for students studying in the United States. Japan’s Yanai Tadashi Foundation, for example, offers up to US$95,000 in scholarships to Japanese students who want to study in the U.S. 

4. Earn money with a part-time job 

You can work part time as an international student after your first year of full-time study if you get the appropriate authorization. Reach out to your Designated School Official (DSO) about the terms of your visa. 

In order to work as an international student, you’ll need to apply for Curricular Practical Training (CPT) or Optional Practical Training (OPT). Both programs have their own specific requirements and guidelines about when and how much you can work. 

You can learn more about the differences between CPT and OPT here. 

5. Consider borrowing a student loan 

Once you’ve exhausted your options for grants and scholarships, you might consider borrowing a private student loan. Private student loans offer funds you can use toward tuition and living costs. Keep in mind though, you’ll have to pay back the amount you borrow, plus interest charges. 

MPOWER Financing designs loans for international students studying in the U.S. and Canada.  Unlike many other private lenders, MPOWER doesn’t require you to apply with a cosigner or back the loan with any of your personal property. MPOWER assesses your credit worthiness for an education loan based on your future earnings, and computer science can often lead to great paying jobs, which helps your loan evaluation.  Also, MPOWER offers fixed interest rates, along with a rate discount for automated payments. 

Check your eligibility to see if MPOWER can help you finance your degree and support your future career in computer science. 

 

Apply Now 

Ecobank partners with MPOWER Financing to offer African students education loans for study in the U.S. and Canada

Lomé, Togo, May 8, 2024 –  Ecobank, the leading independent pan-African banking group with a presence in 35 African countries has partnered with MPOWER Financing, a mission-driven fintech firm and the leading provider of no-cosigner education loans, to offer a convenient process for students to apply for funding. 

Ecobank customers across Africa will now be able to seamlessly start their MPOWER Financing student loan applications for studies in the U.S. and Canada through Ecobank’s digital banking platforms.  

MPOWER’s loans are collateral-free and cosigner-free, and students benefit from visa preparation training, financial services and job search assistance through MPOWER’s Path2Success program. As a mission-driven organization, MPOWER Financing is committed to making loans that are financially sustainable for students and recommends that the total amount borrowed for studies be less than the salary one can reasonably expect to earn following the first year after graduation.

“Our collaboration with MPOWER Financing represents Ecobank’s unwavering commitment to achieving our ‘Better Way, Better Africa’ goal,” said Adeola Ogunyemi, head of Consumer Banking, Ecobank Nigeria. “We are committed to supporting our customers to achieve their dreams, and making an MPOWER educational loan available to our customers will make quality education accessible to them. As scholars and professionals in their respective fields, they’ll contribute to the development of the continent.”

“We’re thrilled to be partnering with Ecobank to help a greater number of students across Africa gain access to a top graduate education in the U.S. or Canada”, said MPOWER Financing CEO Manu Smadja. “Since our inception, 10 years ago, MPOWER has financed thousands of students from Nigeria, Ghana, Kenya, Ethiopia and Zimbabwe, to name just a few countries, and we’re excited to ‘eMPOWER’ tens of thousands more through this partnership.” 

MPOWER Financing was founded by international students to open opportunities to students around the world. “As a Pan-African banking leader, we recognize the importance of quality education in shaping our continent’s productivity and future leaders, and our partnership with MPOWER Financing to facilitate access to education loans is an avenue to invest in the growth and a brighter future for the African youth population,” Ogunyemi says.

“We believe the partnership between MPOWER Financing and EcoBank is significant,” said Munya Chiura, head of Africa Business Development at MPOWER Financing.“ According to the recent MPOWER Financing Social Impact Report, 88% of our students pursue advanced degrees in cutting edge technology and finance fields that will power the economy of tomorrow.” 

 

About MPOWER Financing

Headquartered in Washington, D.C., and with employees worldwide, MPOWER Financing is a mission-driven fintech company and the leading provider of global education loans. Its proprietary algorithm analyzes overseas and domestic credit data as well as future earning potential to serve promising international students. MPOWER works with over 500 top universities across the U.S. and Canada to provide financing to students from over 200 countries. The MPOWER team primarily consists of former international students and provides students with visa preparation training, personal financial education and career support to prepare them for their professional careers after graduation.

MPOWER is a Certified B-Corp and has been named a Great Place To Work, one of the best fintechs to work for and the best tech workplace for diversity. The company is hiring for Sales, Marketing and Operational positions worldwide.

 

About Ecobank Transnational Incorporated (‘ETI’ or ‘The Group’)

Ecobank Group is the leading private pan-African banking group with unrivalled African expertise. Present in 35 sub-Saharan African countries, as well as France, the U.K., the UAE and China, its pan-African platform provides a single gateway for payments, cash management, trade and investments. The Group employs over 15,000 people and offers consumer, commercial, corporate and investment banking products, services and solutions across multiple channels, including digital, to over 32 million customers. For further information, please visit www.ecobank.com.

MPOWER Financing issues inaugural securitization of international student loans, achieves ‘A’ ratings on senior class

Goldman Sachs & Co. LLC served as Structuring Agent and Joint Bookrunner on the first international student loan securitization by a U.S.-domiciled private student lending platform that unlocks access to graduate degrees, primarily in STEM and business. Deutsche Bank Securities Inc. also served as a Joint Bookrunner.

WASHINGTON, DC, May 21, 2024 – MPOWER Financing (“MPOWER”), a mission-driven fintech firm and the leader in international student financing, today announced the completion of its first securitization, MPOWER Education Trust 2024-A (“MPOWR 2024-A”). The $215.2 million collateral pool is composed of U.S. dollar-denominated, fixed-rate loans made to primarily graduate international students at leading U.S. colleges and universities. It is the first securitization of international student loans by a U.S.-domiciled private student lending platform.  

Along with $300+ million of warehouse commitments that MPOWER secured last year from Goldman Sachs, Deutsche Bank and Värde Partners, this securitization enables MPOWER to put more than $500 million towards its rapidly growing portfolio of loans issued to international students attending leading colleges and universities across the United States and Canada.

Goldman Sachs & Co. LLC served as Structuring Agent and Joint Bookrunner, alongside Deutsche Bank Securities Inc. as Joint Bookrunner. MPOWR 2024-A consisted of three tranches of notes totaling $198.1 million (collectively the “Notes”). Morningstar DBRS (“DBRS”) & Kroll Bond Rating Agency (“KBRA”) rated the Class A Notes ‘A’(sf)/‘A’(sf), respectively. DBRS rated the Class B Notes and Class C Notes ‘BBB’(sf) and ‘BB’(sf), respectively. The securitization’s initial investors include blue-chip names spanning asset management, pension plans, and insurance funds. MPOWER plans for this to be the first of a series of programmatic asset-backed securitization offerings.

“This securitization is a testament to the capital markets recognizing our ability to originate attractive, high-credit quality student loans,” said Christopher Zaki, head of Capital Markets at MPOWER. “These investors were impressed by our decade-long history of robust credit quality across different rate environments and by our student population: predominantly graduate students, primarily in STEM and business fields, who are investing in their professional futures. Our portfolio is characterized by global diversification and offers investor returns that are uncorrelated with traditional asset classes. With this securitization, we have demonstrated the strength of our business model. Our well-diversified and efficient capital strategy positions us to accelerate our strong growth in loan originations and value creation for both our shareholders and students.”

“This rated securitization shows that international students are A-rated, both in terms of their academic potential and their credit behavior. The transaction is the culmination of 10 years of MPOWER’s work in international student lending and is a significant milestone for the company,” said Manu Smadja, chief executive officer of MPOWER. “The power of our financing is truly transformational: 93% of our students say that a loan with MPOWER was imperative for their ability to complete their education. We’re helping students – many of whom are first-generation college students from the Global South – make a quantum leap for themselves and their families. Beyond the positive impact on students, this transaction enables us to help higher education institutions recruit a larger and more diverse international student population, while empowering the workforce of tomorrow and having a significant positive impact on the U.S. and Canadian economies.”

 

About MPOWER Financing

MPOWER Financing, headquartered in Washington, D.C., and with employees worldwide, is a mission-driven fintech company and the leading provider of global education loans. Its proprietary algorithm analyzes overseas and domestic credit data as well as future earning potential to serve promising international students. MPOWER works with top universities across the U.S. and Canada to provide financing to students from around the world. The MPOWER team consists of former international students and provides students with career guidance and immigration support to prepare them for their professional careers after graduation.

MPOWER is a Certified B-Corp and Great Place To Work, one of the best fintechs to work for  and the best tech workplace for diversity. The company is hiring for various positions worldwide.

EY Announces Manu Smadja of MPOWER Financing as an Entrepreneur Of The Year® 2024 Mid-Atlantic Award Finalist

The award, which celebrates ambitious entrepreneurs who are shaping the future, recognizes MPOWER Financing’s role in promoting access to education for talented students worldwide

Washington, DC, April 24, 2024 – Ernst & Young LLP (EY US) announced this week that Emmanuel (Manu) Smadja, CEO and co-founder of MPOWER Financing, was named an Entrepreneur Of The Year® 2024 Mid-Atlantic Award finalist.

Entrepreneur Of The Year is the preeminent competitive business award for leaders who disrupt markets, revolutionize sectors and have a transformational impact on lives. Smadja was one of 30 regional entrepreneurs selected as a finalist based on his demonstration of building long-term value through entrepreneurial spirit, purpose, growth and impact, among other core contributions and attributes. 

“It’s an honor to be recognized alongside 29 other visionary finalists for Entrepreneur of the Year,” said Smadja. “Since founding MPOWER Financing 10 years ago, our team has worked tirelessly to create a world where access to education is borderless. I think of this award as a recognition of the impact the whole team at MPOWER is having by democratizing access to education.”

MPOWER Financing is a Washington, D.C.-based, mission-driven fintech firm and the leading provider of non-cosigned loans to promising students from around the world. To date, MPOWER has provided over 20,000 loans to students from 163 countries pursuing higher education across the United States and Canada. In addition to providing global education loans, the firm provides career guidance and immigration support to prepare students for success after graduation.

“Our graduates are citizens of the world,” said Smadja. “They are founding companies, running for office and making scientific discoveries. We’re inspired by their stories and are honored that they chose us as their partner on their educational journey – 93% of our students say that a loan with MPOWER was imperative for their ability to complete their education. We’re helping these students – many of whom are first-generation college students from the Global South – improve their lives and the lives of their families.”

Entrepreneur Of The Year is founded and produced by Ernst & Young LLP, and honors business leaders for their ingenuity, courage and entrepreneurial spirit. Over the past four decades, the program has recognized entrepreneurs with big ideas and bold actions that reshape our world. The Mid-Atlantic program celebrates entrepreneurs from Maryland, Virginia and Washington, D.C. Regional award winners will be announced on June 20.

 

About MPOWER Financing

Headquartered in Washington, D.C., and with employees worldwide, MPOWER Financing is a mission-driven fintech company and the leading provider of global education loans. Its proprietary algorithm analyzes overseas and domestic credit data as well as future earning potential to serve promising international students. MPOWER works with over 500 top universities across the U.S. and Canada to provide financing to students from over 200 countries. The MPOWER team primarily consists of former international students and provides students with career guidance and immigration support to prepare them for their professional careers after graduation.

MPOWER is a Certified B-Corp and has been named a Great Place To Work, one of the best fintechs to work for and the best tech workplace for diversity. The company is hiring for various positions worldwide.

 

About Entrepreneur Of The Year® 

Founded in 1986, Entrepreneur Of The Year® has celebrated more than 11,000 ambitious visionaries who are leading successful, dynamic businesses in the U.S., and it has since expanded to nearly 80 countries and territories globally.

The US program consists of 17 regional programs whose panels of independent judges select the regional award winners every June. Those winners compete for national recognition at the Strategic Growth Forum® in November where National finalists and award winners are announced. The overall National winner represents the U.S. at the World Entrepreneur Of The Year® competition. Visit ey.com/us/eoy.

 

About EY

EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets.Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.

Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a U.K. company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

MPOWER Financing partners with Catalyst GEM to help international students secure an F-1 student visa

The strategic partnership aims to ensure that promising students from around the world have the greatest possible chance of securing an F-1 student visa

WASHINGTON, DC, May 1, 2024: MPOWER Financing, a mission-driven fintech firm and the leading provider of no-cosigner loans to promising international students, has announced a partnership with Catalyst GEM, a firm that facilitates the educational journeys of international students and supports U.S.-based institutions. This strategic alliance aims to assist high-achieving students globally in navigating the U.S. visa application process and securing their F-1 student visas.

“Our partnership with Catalyst GEM is just one more example of how MPOWER provides customers with benefits beyond funding,” said Lisa Kaplan, head of Product and Digital Platforms at MPOWER Financing. “Catalyst GEM’s world-class expertise helps our customers prepare for their visa interviews, which is a key step in realizing their dream to study abroad. This collaboration will help thousands of aspiring international students from around the world navigate the complex visa process with confidence.”

Catalyst GEM provides cutting-edge technology and dedicated support, enabling institutions to streamline admissions and enhance student enrollment experiences. The organization also supports colleges and institutions with innovative software solutions to revolutionize the international admissions process.

“Our partnership with MPOWER Financing perfectly aligns with our mission,” said John Evans, founder and CEO of Catalyst GEM. “MPOWER provides international students the opportunity to participate in and succeed in the wonderful American higher education system. However, many international students still fail to secure an F-1 student visa. Our comprehensive F-1 Visa Preparation Course helps ensure they are fully prepared for the visa process and can navigate it confidently. International students have as little as 90 seconds to convince a visa officer of their legitimacy, but most simply don’t know what to expect. Our course directly addresses this problem by providing them with the required knowledge, counseling and resources.”

 

About MPOWER Financing

Headquartered in Washington, D.C., and with employees worldwide, MPOWER Financing is a mission-driven fintech company and the leading provider of global education loans. Its proprietary algorithm analyzes overseas and domestic credit data as well as future earning potential to serve promising international students. MPOWER works with over 500 top universities across the U.S. and Canada to provide financing to students from over 200 countries. The MPOWER team primarily consists of former international students and provides students with personal financial education and career support to prepare them for their professional careers after graduation.

MPOWER is a Certified B-Corp and has been named a Great Place To Work, one of the best fintechs to work for and the best tech workplace for diversity. The company is hiring for various positions worldwide.

 

About Catalyst GEM

Headquartered in Fort Lauderdale, Catalyst GEM provides software and services to help U.S. institutions optimize and scale international enrollment. Their solutions provide institutions with a competitive advantage by building the right market channels, optimizing the admissions process and helping prepare applicants for the student visa process. Our team has decades of experience and expertise in the international education sector, which we leverage to help our clients develop and execute winning international plans.