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.

Student loans and scholarships for international students from Colombia

Interest among international students from Colombia in studying in the U.S. is at an all-time high, and student loans and scholarships can provide a path toward that goal. 

According to the Open Doors 2022/2023 report, there has been a 12.6% increase in the number of Colombian students pursuing study abroad compared to the previous year. With the increased demand for education abroad, more funding opportunities are needed. Let’s take a closer look at two options: student loans and scholarships.

How can you fund your education abroad?

The primary sources of funding for international students, including those from Colombia, are personal funds such as savings or assistance from family members, universities or current employers. However, some students prefer not to rely on gifts or loans from someone close to them. They prefer to take a loan independently, from a private U.S. lender. 

MPOWER Financing is a private U.S. lender offering educational loans to international students planning to study in the U.S. and Canada. MPOWER loans don’t require a cosigner or collateral and offer competitive interest rates and loan amounts ranging from US$2,001 to US$100,000 total.

How does a student loan differ from a personal loan?

Student loans are financial tools to assist international students from Colombia to cover the costs of their education abroad. These loans cater specifically to the unique needs and challenges faced by students studying outside their home country.

It’s important not to confuse student loans with personal loans, which are versatile and can be used for various purposes, such as consolidating debt, covering medical expenses, making a large purchase and funding education. Student loans are specifically designed to finance education-related expenses like tuition. 

What are the benefits of a student loan?

Student loans often offer more favorable interest rates and flexible repayment options tailored to the unique financial circumstances of students. Like personal loans, some student loans may require a cosigner or collateral, but not all lenders require them. MPOWER Financing, for instance, doesn’t require a cosigner or collateral and determines loan decisions based on students’ future earning potential more than their credit history.

What should I take into account when researching student loans for international students?

First, familiarize yourself with the eligibility criteria. It often includes factors like cosigner requirements and enrollment in an eligible academic program. Make sure to learn about the types of loans available, such as private loans or government-sponsored options. Don’t forget to carefully consider their terms, including interest rates, repayment plans and any associated fees.

Additionally, be aware of the application process and gather all necessary documentation well in advance. It’s important to borrow responsibly and only take out what you need to cover educational expenses.

Stay informed about resources and support services available to international students, including financial aid offices, loan counseling and scholarship opportunities to navigate the complexities of student loans.

Finally, look for student loan lenders that offer additional services catering to international students with other needs. For example, MPOWER Financing student loans automatically include visa support and career guidance through the Path2Success program. Free visa support includes a visa support letter and a visa preparation course. Career services include internship and job search guidance for OPT and H-1B visa sponsored roles, a resume builder and a directory of F-1 eligible job roles for STEM and non-STEM degrees.

Why should Colombian students consider studying abroad in the U.S. or Canada? 

One of the main advantages of studying in the U.S. or Canada is having access to world-renowned universities and colleges with the finest academics and innovative research facilities. Additionally, studying in North America provides students with exposure to diverse cultures, fostering a global perspective that’s increasingly valued in today’s interconnected world. 

Pursuing higher education in the U.S. or Canada opens doors to a wide range of career opportunities for Colombian students. It enhances employability and earning potential upon graduation. Despite the financial challenges, such as student loans, the long-term benefits of an international education often outweigh the initial investment. 

Watch the video below to learn about Andres, an international student from Colombia attending Hult International Business School, his experience abroad and why he chose MPOWER Financing.

Check out the scholarships for international students

In addition to student loans, there are scholarships for international students, offering another avenue of financial support for education abroad. Scholarships are funds awarded to students based on various criteria, including academic merit, financial need, extracurricular achievements or demographic background. Scholarship awards are often based on your achievements or background anywhere in the world, whether it’s in your home country of Colombia or somewhere in the Middle East. Each scholarship will have unique qualifying criteria for you to explore. 

Unlike loans, scholarships are particularly attractive because they don’t require repayment, which reduces the financial burden on students post-graduation. Furthermore, scholarships can often cover a wide range of expenses, including tuition, travel costs and living expenses. They can also provide valuable recognition and opportunities for networking, enhancing students’ academic and professional profiles.

Scholarships represent an invaluable resource for international students, enabling them to pursue their educational goals without accruing significant debt, while also fostering academic excellence and diversity within educational institutions. 

Don’t forget to explore available MPOWER scholarships and research databases like International Student’s scholarship search and College Board to find the scholarship tailored to your unique strengths and aspirations.

MPOWERing women in STEM

The STEM workforce has traditionally been associated with the male population. However, over the last decade, gender diversification within the field has been increasing. According to the National Science Foundation, between 2011 and 2021, the number of women in STEM grew by 31%, compared to a 15% increase for men.

MPOWER Financing recognizes the dedication and hard work of women worldwide and strives to close the gender gap with an exclusive scholarship for women in STEM. This scholarship is available annually to all women who have been admitted to or are pursuing a STEM program at an MPOWER-approved school in the United States or Canada. For more information on MPOWER’s efforts, please visit our scholarships for international students page.

Final thoughts: Loans and scholarships for students from Colombia 

As a student from Colombia planning to study overseas, acquiring a private loan and scholarships can help ease the financial burden of school for you or your family. 

You can make your journey abroad memorable and pave the way toward a successful career with an MPOWER Financing student loan. Join other Colombian students like you – apply for an MPOWER loan today!

 

Apply Now

Student loans and scholarships for international students from Mexico

International students tend to be unable to find funding in their home country for studying abroad, and Mexico is no exception. Still, there are plenty of financing options available elsewhere, including private, out-of-country, school lenders and scholarship providers. 

Let’s take a closer look at available funding sources and how international students can access them.

Fund education your abroad with a student loan from MPOWER Financing 

In the U.S., student loans can be federal or private. Federal loans are available only for U.S. citizens and eligible noncitizens. International students who are on F-1, J-1 or TN visas are not eligible for federal loans. The only option for Mexican students to obtain an education loan to study abroad is from private lenders.

MPOWER Financing is a private lender that specializes in offering loans to international students worldwide. MPOWER’s mission is to help foreign nationals get an education abroad without financial hurdles. That’s why MPOWER loans don’t require a cosigner or collateral, and eligible students are able to borrow between US$2,001 and US$100,000.

How to apply for an MPOWER student loan 

Student loans from MPOWER Financing are available to all foreign nationals who are pursuing or going to pursue undergraduate or graduate programs in the U.S. or Canada. Currently, MPOWER supports students at 500+ schools across North America. In order to apply for a loan, students can fill out an easy online application, which takes minutes to complete. Promptly after that, they’ll quickly receive a conditional loan offer letter.

When to apply for an international student loan 

Approval and disbursement of international student loans can take several weeks or even months. Hence, if you’re planning on applying for a loan, starting the application process early ensures that the necessary funds are available in a timely manner. To determine the appropriate timeline for applying for an international student loan, consider your school’s tuition payment deadline, which is typically set at the beginning of each semester. 

MPOWER Financing offers the flexibility for students, like you, to apply for a loan, allowing you to start the application process as early as 12 months before the program start date and as late as two months before commencement.

The application process includes providing personal information and the necessary documentation, such as enrollment letters and school transcripts. Beginning this process three to four months before the required funds are due helps manage potential delays in approval, enrollment certification and disbursement, ensuring that the financial aspect of education is handled efficiently.

Check out scholarships for Mexican students 

Getting a loan from a private lender isn’t the only funding option for students from Mexico. There are many scholarships available that are based on various criteria, such as academic achievements, program of study, country of origin and others.

For example, the University of Texas at El Paso (UTEP) provides a unique scholarship for international students from Mexico. It allows Mexican students to pay the same amount of tuition as residents of Texas and is available only to students attending UTEP. However, it doesn’t mean that Mexican students can get a scholarship or tuition assistance at UTEP only. 

Make sure to explore MPOWER scholarships, International Education and Financial Aid, College Board and International Student’s scholarship search to get a full spectrum of financial aid available to you.

Final thoughts: Loans and scholarships for Mexican students 

If you live in Mexico and need help financing your education abroad, private student loans and scholarships are your best options for funding. Be sure to look for lenders and scholarship providers that cater to international students. 

MPOWER Financing offers scholarships and no-cosigner loans created with international students, like you, in mind. Besides funding, MPOWER loans automatically include visa support and career guidance through the Path2Success program. Free visa support includes visa support letters and a visa preparation course. Career services include internship and job search guidance for OPT and H-1B visa sponsored roles, a resume builder and a directory of F-1 eligible job roles for STEM and non-STEM degrees.

Interested in an MPOWER Financing loan?

 

Apply Now

International study programs: Arts and humanities

If an international study program in the U.S. encompassing multiple liberal arts disciplines is intriguing to you, you might consider a bachelor’s degree in arts and humanities. Some colleges and universities whittle their academic programs to specific liberal arts disciplines, while some schools offer arts and humanities as a broad program. 

In this blog post, we’ll explain what to expect from this program during school and after graduation.

About arts and humanities programs 

As an arts and humanities student in an international study program in the U.S., you’re exposed to a breadth of disciplines related to learning what it is to be human across various cultures. You’ll study history, foreign language, religion, gender studies, sociology, psychology, philosophy, literature and more. 

The program develops your communication and leadership skills while sharpening your aptitude for writing, critical reasoning and problem-solving. Some students spend their undergraduate career studying arts and humanities as part of their path toward a professional degree in medicine and law, as well.

Demand for arts and humanities degrees 

Interest in arts and humanities programs has grown year over year. The Institute of International Education’s (IIE) 2023 Open Doors Report found that arts and humanities had a 3.8% increase in enrollment during the 2022-23 academic year compared to the year prior.

The report states that 15,783 students chose arts and humanities as their international study program. Arts and humanities falls just shy of making the IIE’s top 10 areas of study list.

5 jobs you can get with arts and humanities degrees 

A bachelor’s in arts and humanities affords you diverse career paths, all of which involve skilled communication, problem-solving and teamwork. Here are just a few examples of accessible professions to explore.

1. Public relations specialist 

Public relations specialists try to favorably position the image of public figures, companies, brands and other organizations. 

As a public relations specialist, you’ll write media correspondences, like press releases, media inquiry and interview responses, and speeches. You’ll also research the public’s current opinion about your client, group or company, and you’ll design promotional assets and advertisements to shift opinions toward a desired direction.

According to the U.S. Bureau of Labor Statistics (BLS), public relations specialists earn a median annual wage of US$67,440. Those who were at the top 10% of earners made more than US$128,450 annually. Between 2022 to 2032, demand for public relation specialists is expected to grow 6%. 

2. Technical writer 

When you purchase a product, the packaging might include multiple inserts, such as safety warnings, user manuals, assembly instructions and other guides. A technical writer is responsible for drafting this content to explain technical information in a way that’s clear and accessible to a layperson.

In your work, you’ll need to thoroughly understand the product you’re supplying information about. This requires communicating with product designers and engineers. In addition to writing technical information, you might be responsible for editing the technical writing projects of your peers. 

The BLS states that technical writers earn a median wage of US$79,960 per year, with top earners receiving greater than US$128,110. Technical writers have a positive job outlook that’s projected to grow 7% between 2022 to 2032.  

3. Human resources specialist 

If you enjoy routinely meeting new people and interacting with people at all levels of an organization, a human resources specialist job might be a fit. Human resources specialists use the communication, critical thinking and problem-solving skills they acquired through their degree on a daily basis. 

In this role, you’ll assist with recruiting, screening applicants, preparing contract paperwork and organizing new-employee onboarding. You’re also responsible for maintaining employee records regarding benefits, performance evaluations and compensation all while fostering employee relations on behalf of the company.  

Human resource specialists earn a median salary of US$64,240 annually, though top wages can go beyond US$116,060. Job employment in this profession is projected at a faster-than-average rate of 6% between 2022 to 2032. 

4. Teacher 

If you’re passionate about fostering the development and education of today’s youth, working as a teacher might be your calling. After obtaining an arts and humanities degree, you would need to pursue a teacher’s certificate and could then teach at the primary and secondary school levels. The specific responsibilities you’ll have depend on the grade you teach. Generally, you’re responsible for instructing a group of students in school, creating lesson plans on various subjects, like art, science, reading and writing, and mathematics. 

You’ll also evaluate how well they’re absorbing the information through assignment grading, in-class tests and standardized exams. But academics are just one role that teachers play. Teachers are also charged with managing students’ behavioral development and interaction with their peers. 

Teacher salaries vary by state depending on the grade level taught and whether you teach at a public or private school. Below are the median annual wages for primary and secondary teachers at a public versus private school.

• • Primary-level public school: US$62,190
  • Primary-level private school: US$48,380   
  • Secondary-level public school: US$62,930
  • Secondary-level private school: US$58,640

Between 2022 to 2032, the job outlook for teachers is projected to stay the same. 

5. Event planner

As an event planner, you’re responsible for breathing life into the client’s or organization’s special event. Events you can coordinate span personal and professional gatherings, like weddings and receptions, family reunions, conferences, expos and conventions, and business meetings. 

You’re responsible for coordinating all logistics related to the event, like finding a venue, securing vendor contracts, decor, participant and guest itineraries, transportation and other event-specific requests.   

Event planner salaries vary, depending on whether you’re employed through an agency or run your own small business. In general, event planners earn a median wage of US$52,560, with top salaries reaching beyond US$92,880 per year. If you choose this profession, you can expect its job outlook to climb 8% between 2022 to 2032, according to the BLS.

Final thoughts on arts and humanities degrees 

Earning an arts and humanities degree can be an academically fulfilling pursuit. You’ll be exposed to a range of liberal arts disciplines that enhance your skill set for the job market. 

Securing enough financial aid to study in the U.S. can help you do that. If after exploring other types of financial aid, like scholarships, you need extra aid, consider an MPOWER Financing international student loan.

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International student success story: From the Philippines to a U.S. master’s in business analytics

Maureen (Ree) Lepatan is currently studying business analytics in a U.S. graduate program, but getting there wasn’t easy.

For international students like Ree, finding funding to attend school in the United States is a big financial hurdle. Tuition, fees and living expenses are costly, and many financial institutions don’t give student loans to noncitizens or residents. Fortunately for Ree, her career advisor back home in the Philippines knew about MPOWER Financing, and she was able to apply for and receive a loan to cover her needs.

The Ree dream team

“There are people who really helped me and guided me through – career advisors, coaches and [the] MPOWER team as well,” she says. “A combination of those people [got] me where I am today.”

Navigating the world of borrowing student loans as an international student can be tedious and time-consuming. There aren’t a lot of options and often lenders require that students have a U.S.-based cosigner to get a loan. With MPOWER Financing, you can apply for a loan without a cosigner or collateral and get immediate approval so you can start your education journey right away. 

The cost of being an international student in the United States

Attending college as an international student is extremely expensive. The average cost for an international student to study in America can be anywhere from $6,000 (for community college classes) to more than $55,000 per year, depending on your level of education, the school you’re attending, the program you’re enrolled in and other factors. MPOWER loans let you borrow up to US$100,000 total.

“Going to the U.S. as an international student is a huge, huge investment,” she says. “Not a lot of people can actually afford that, but MPOWER enabled me to have that fund specifically for my education.”

Ree’s return on investment

Ree sees her education in the United States as an investment in her future.

“After investing in my education, I get to upgrade my career,” she says. “I have tons of options. I can go to different places, and I can have [a] higher salary afterwards. And I foresee that the return on investment will be higher.”

She sees herself not only working in data analytics but possibly progressing to become a chief technology officer (CTO) in 10 years’ time. 

“I’m grateful that I have these opportunities ahead of me,” she says.

Paying it forward

Encouraging others who are thinking of studying abroad in the United States comes easy to Ree. She tells others about MPOWER Financing, in particular, because of how her experience has changed the entire trajectory of her education and career.

“It really changed my life because I could have not been in the U.S. if it wasn’t for the support of MPOWER,” she says. “It’s really easy to refer a company if you have a positive experience [with them].”

Ree knows becoming an international student in the U.S. is an undertaking but doesn’t want students to give up.

“It will be a long process, but you will get there,” she says. “And once you get there, then everything is just worth it. Right now, I’m in Boston, and I never thought that I would have a lot of opportunities. The world is my oyster.”

Planning on studying abroad for your master’s degree and interested in a private student loan through MPOWER Financing? 

 

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International student success story: From Pakistan to a master’s in finance in the U.S.

Muhammad Rohan is currently earning his master’s degree in finance at the Hult International Business School in Boston, but he’s already thinking of ways to bring what he’s learned back to his home country of Pakistan.

“The very first thing I want to do here in the U.S. is to learn and establish a business model that I can then scale back to my home country,” he says. “Since Pakistan is a developing country, a lot of opportunities that are here in the U.S. are not there.”

Rohan loves diving into data and analytics, and his experience at Hult encourages growth in business analytics.

“I am currently in my first term at Hult, and it’s not just finance but it’s a mix between STEM and finance,” he says. “We have the basic corporate finance, investments, financial management-related stuff. At the same time, we’re also learning a lot about coding languages and data extraction and how to manage databases. That’s something which is going to be really relevant in the coming years due to the growth of AI and big data.”

Before enrolling in his studies, Rohan faced what seemed like uphill financial challenges to cover the costs of studying abroad in the United States. He shares his story of how he overcame those obstacles to begin his master’s program. 

Finding funding to study abroad

Rohan had saved for college before starting his education in the U.S., but he was still short of his goal. Before applying to graduate school, the Pakistani rupee lost its value against the U.S. dollar. So what he had saved wasn’t enough to cover his education costs. While Rohan was able to get a scholarship, he still needed more funding to pay for school.

Rohan says there aren’t a lot of student loan options for Pakistani students. “In Pakistan, we do not really have the culture of student loans,” Rohan says.

How MPOWER Financing loans help international students 

Because of this, he looked outside of Pakistan, making it a point to explore private student loan lenders who serve international students. Rohan ultimately decided to apply for an MPOWER loan because of the number of  MPOWER-eligible schools (500+), MPOWER’s fixed interest rate loans.

“Being an international student, I looked into MPOWER, and overall it just made more sense,” he says. “The payment process was much more stable, and the best part was that the interest rate was fixed. So I don’t really have to worry about my payments fluctuating month to month or year to year.”

As soon as he received his university acceptance letter, Rohan applied to MPOWER and was approved for a loan, he says. “So that is how I am funding my education.”

Study abroad advice for other international students 

One piece of advice Rohan has for potential international students hoping to study in the United States is to make sure you know what you want to study before arriving in the U.S. 

“Be very sure of what you want to study,” he says. “You don’t just want to waste your money in a program that you may eventually end up not liking.”

Another tip is to have courage and take a risk. It can be overwhelming to study abroad, but he advises students to not be scared of the challenge.

“It’s really challenging, but at the same time, it is possible here,” he says. “The United States has always been the land of opportunity, and it still is. And I believe that if I am putting in hard work, if I am developing the skills, getting down and doing the work, this [is a] challenge I can easily overcome. And also – with greater risk comes greater return.”

 

International student success story: From Nepal to Texas Tech

Roshan Bhandari graduates from Texas Tech University this spring, proud that he’s not only earning a master’s degree in industrial engineering in the U. S., but also that he is becoming financially independent through the help of a no-cosigner student loan from MPOWER Financing.

Pursuing a master’s degree to compete in the job market

Roshan earned his bachelor’s degree in mechanical engineering back home in Nepal and then taught engineering to undergraduate students. He then realized that to do well in a competitive job market, he would have to pursue a master’s degree. 

“In this world, I think just having an undergrad degree is not sufficient with the market being more competitive,” Roshan says. “I felt like I needed to get a master’s degree in a field that is relevant to the current job market. If someone has a master’s degree, he has a better chance to get a job. So that’s why I had my interest in doing my master’s in industrial engineering. I had a few options to go to different countries, but I chose the U.S. for my master’s because of its reputation and [because] engineering is very good here.”

Getting help through an MPOWER Financing student loan

Roshan moved to the U.S. and completed two semesters in a master’s program and also interned at a Houston chemical company. “I had to move to Houston, and that added a lot of expenses. That’s why I needed student loans – because I didn’t want to rely on my parents any further. I thought I should be financially independent.”

As he explored financing his education, Roshan looked at all of his funding options, including student loans.

“I searched online for ‘student loans for international students,’ and MPOWER popped up,” he says. An MPOWER Financing loan is a fixed-rate student loan that doesn’t require a cosigner,  and it has other advantages, he says: “MPOWER turned out to be the one (lender) that was easy, that required less paperwork, and it had great reviews as well, so that made me want to go with MPOWER.” 

Using his knowledge to share with others 

Even though Roshan is in Texas now, going to school and working as an intern, he plans to help others in Nepal in the future.

“I think one day I would like to go back to Nepal with the experience that I gained,” he says. “I like working [in the U.S.], having gained knowledge in the field of engineering. And I think I’ll go back and spread what I’ve learned back to Nepal.”

For now, he’s taking in the diversity of his school and learning from other students who are in similar fields. The community of peers he’s building is helping him academically in the present and will also help him professionally as he works toward a career after he graduates.

“I get to meet people from all around the world when I work for my company,” he says. “[Getting to meet] new people, learning new things – that’s what excites me looking forward.”

Roshan is working hard and hopes his parents take notice.

“I hope that they are proud,” he says. “From childhood to this point, they’ve helped me in every step – for my school, my college. And they supported me for my U.S. education, as well. I think for them, seeing their son going to an American university, [earning] his master’s in engineering there – I think they must be very proud.”