Study Abroad with MPOWER Financing

Join MPOWER Financing’s exclusive live session on studying in the U.S.A. or Canada and turn your international education dreams into reality. Discover how we empower students globally, explore our comprehensive support for your success, and get expert answers to your questions in our Q&A session. Plus, enjoy insights from a special guest.

Q&A: How an MBA in the U.S. helped me achieve a career transition

Note: This interview was adapted from a blog post previously appearing on WeChat. It was conducted in Chinese and translated into English.

Student: Sunny Zhang

Home: Shanghai, China

School and program: University of Michigan, MBA

Q: Why did you decide to study abroad?

Sunny: The desire to change careers led me to study abroad, and I chose to pursue an MBA in the U.S. for career path and self-improvement. Before going abroad, I had already worked at HSBC Bank for four years and gradually felt that the room for advancement was becoming limited. That’s when the idea of a career switch emerged.

Q: Why did you choose an MBA in the U.S. as your path for a career change?

Sunny: Whether in China or abroad, changing fields directly is quite challenging. An MBA is a good opportunity to facilitate such a transition. My undergraduate degree wasn’t in business, so the MBA allowed me to acquire the systematic business knowledge I had always lacked. Another reason was to see the world and understand what other countries are like.

Q: How did you decide on studying in the U.S. instead of other countries?

Sunny: After comparing several major study abroad destinations, I chose the U.S. In the U.K., only MBS (Manchester Business School) is comparable to top U.S. schools. The choice felt too limited, and MBS seemed too finance-focused. In the U.S. all the top 16 schools are generally good. My school, the University of Michigan, ranks around 10th in the U.S. Although the MBA programs in the U.S. are also employment-oriented, you get a more comprehensive overall experience. 

Q: What was your school application process like?

Sunny: I applied to five schools and got interviews at all of them but only received an offer from the University of Michigan. The cost of attendance was not a main factor for me, as MBAs are generally priced similarly. The strengths and suitability of each program, along with the culture and atmosphere of the schools, mattered more. My program’s tuition was about US$120,000. Including living expenses, the total cost for two years was around US$200,000.

Q: How did you fund your studies?

Sunny: Before deciding to apply, I had already considered how to fund my studies. Many lenders don’t accept loan applications from international students, so my options were limited. In my first year, I used a cosigner-required loan service with a U.S. green card holder, a friend of my father’s, as my cosigner. He withdrew his cosign in the second year, so I had to look for no-cosigner loans. The support from my parents also gave me the confidence to apply for a (no-cosigner) loan through MPOWER Financing.

Q: How did you manage your living expenses?

Sunny: I lived frugally but didn’t hesitate to spend on necessary things. I shared a two-bedroom apartment with another Chinese student, each having our own room but sharing the bathroom, living room and kitchen. Our monthly rent was US$1,700, split equally. It was an old building but clean and chosen mainly for its proximity to our college – just a six-minute walk.

Q: How did the MBA program support your career transition?

Sunny: MBA programs are designed with a “buff,” offering numerous resources to enhance students’ future careers. Almost everyone in the top 16 MBA programs in the U.S. can secure a good internship during their studies with a return offer. Our program had over 400 students, with about 30 from China. The high tuition of an MBA is justified. Although it doesn’t guarantee a specific job, it provides ample support and resources. Many large corporations are willing to recruit from these schools, often visiting multiple times.

Q: What was your job-hunting experience like during your MBA?

Sunny: While applying for the loan, I was doing a paid internship at Amazon and received a return offer. Classes were held in the morning, with afternoons free after 3 p.m. for company info sessions or networking events. Fridays were class-free, with many companies hosting forums and activities. For my Amazon interview, Chinese seniors who had interned there helped me with mock interviews.

Q: How do you feel about your decision to pursue an MBA in the U.S. now?

Sunny: I can clearly feel my growth on a daily basis, and I’m grateful I chose to pursue an MBA in the U.S. For me, pursuing an MBA for a career change was a wise choice.

Final thoughts: Consider an MBA abroad to help with a career transition

Transitioning from one field of study to another is challenging, and getting an MBA might be the solution to bridge that gap. While the benefits of an MBA are great, the costs of tuition, fees and living expenses are also substantial. International students under financial pressure might consider applying for a no-cosigner private loan to cover costs.

If you’re considering pursuing an MBA or postgraduate degree, learn about financing your education as an international student abroad. MPOWER Financing offers no-collateral and no-cosigner loans for master’s students studying in over 500 universities in the U.S. and Canada, without restrictions on majors.

To take the next steps, start an application and check your eligibility in less than a minute.

 

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Want to know more about our loan product, application, or customer benefits? Sign up for our Application Walkthrough! We’ll discuss each step of the application, what to expect, and frequently asked questions. Plus, you’ll be able to ask us anything about international study abroad.Plus, you’ll be able to ask us anything about international study abroad.

Time management as an international student in the U.S.

Starting your postgraduate journey in the U.S. is an exciting time, filled with countless opportunities for growth. However, you’ll also face challenges, such as adjusting to a new culture and balancing your studies with your social life. The key to thriving in your new college setting is effective time management as an international student. With the right strategies, you can schedule your time efficiently and make the most of your postgraduate experience. Here are some tips to help you stay organized, reduce stress and achieve your goals as an international student. 

1. Get on a regular sleep schedule

Living in a new country can be disorienting, especially as you’re adjusting to a new time zone. That’s why your first order of business is getting on a regular sleep schedule. 

Set a consistent bedtime and wake-up time to reset your body’s internal clock. To boost your sleep quality, try to create a relaxing wind-down routine at the end of the day and limit your exposure to screens at least an hour before you want to sleep. 

Limit how much coffee you drink throughout the day, too, as caffeine can keep you up at night. Getting quality sleep is crucial to your mental and physical health. By making it a priority off the bat, you’ll be better able to concentrate on your studies and deal with the challenges of postgraduate life. 

2. Make a daily to-do list 

Making a to-do list each day is a great way to stay on track with your various commitments. You’ll be a lot less likely to forget important tasks and deadlines by writing everything down, from papers you need to write to club meetings you want to attend. 

Once you have your to-do list written down, figure out which tasks are the highest priority. Consider tackling your high-priority tasks first, so you can start your day with momentum and a sense of accomplishment. 

Be realistic about how much you can get done in a single day. If your lists are getting too long, consider which tasks you can shift to a different day in the week. 

3. Use a planner 

A planner is an invaluable tool in creating your schedule as a postgraduate student in the U.S. You could use a physical notebook or an online tool, such as Google Calendar. 

Set aside some time at the beginning of each week to write down your tasks, appointments and goals. Set aside dedicated time for studying, research and schoolwork throughout the week. 

Don’t forget to schedule in time for self-care, socializing and relaxing, as well. With a planner, you’ll be able to visualize your schedule, keep track of deadlines and find a balance between your academic and personal life. 

4. Practice time blocking 

Time blocking is another time management technique that can make it easier to structure your day. It involves dividing your day into distinct blocks of time and designating each block to a specific task. 

For example, you might set aside two hours in the morning for writing a paper, three hours in the afternoon for studying and an hour and a half in the evening for dinner with friends. 

As you fill out your time blocks, consider which tasks are the most urgent and important. Set clear goals and outcomes for each time block so you know whether you’re staying on track. 

Be realistic about how much time you set aside for certain tasks, too. Although it might be tempting to set aside only an hour to write a paper, it could be more realistic to designate three to four hours to the process. 

You also want to consider your energy levels as you prioritize your task. If you’re a morning person, schedule your more intensive tasks in the morning. If you’re a night owl, you might prefer the opposite approach.

5. Consider your environment 

When it comes to studying, you may need to seek out a space that helps you focus. Some students work best at their desk in their room, while others need the quiet of a library or the background noise of a cafe. 

Consider your learning style and what type of environment best suits it. Seek out the best environment for your study time to reduce distractions and optimize your learning. 

6. Be flexible and take breaks 

Although you might feel overwhelmed with work and deadlines at times, it’s important to take breaks every once in a while. Pushing through can lead to burnout, which makes it impossible to focus and be productive. 

One approach to studying and work is the Pomodoro technique. This strategy involves focusing on tasks in 25-minute blocks, separated by short breaks. Scheduling in breaks can give your brain time to relax so you can better focus when you return to studying. 

Keep in mind that you’ll probably have unexpected events turn up in your day, too. Rather than stressing out about a schedule disruption, look over your planner to see how you can rearrange your time. 

7. Seek out school resources 

If you’re feeling overwhelmed, your school likely has some services that could help. Many colleges offer free tutoring, for instance, if you need assistance in a challenging subject. 

They also have mental health services that offer one-on-one or group counseling. Your counselor could help you manage homesickness, deal with stress or hone your time management skills. 

You might also have an advisor who can suggest courses to take or internships to pursue as you earn your degree. Plus, your school’s career services office could help you clarify your future career goals and write a resume. 

Earning your postgraduate degree is challenging, especially when you’re in a new country far away from friends and family. Don’t hesitate to use your school’s international student services office and other resources for assistance along the way. 

Final thoughts: How to manage your time as an international student

Studying overseas in the U.S. as a postgraduate student is filled with adjustments and challenges, and learning how to create a schedule and manage your time can help. A few time management tips and self-care can go a long way toward easing your transition and setting you up for success. 

How to create a budget for studying in the U.S.

Studying abroad in the United States can be a life-changing adventure, but you’ll have many different types of expenses to manage. Creating and following a budget will streamline the process and help you make the most of your international experience.

By tracking your income and expenses, you’ll gain control over your finances and avoid spending beyond your means. Here are some tips for how to budget as an international student. 

1. Add up all your income 

Your first step in creating a budget as an international student is reviewing your income. You might be getting money from various sources, such as: 

• • A part-time job, internship or assistantship 
  • Savings 
  • Contributions from parents 
  • Grants
  • Scholarships 
  • Student loans 

Figure out how much money you have coming in on a monthly basis. If your part-time job pays you every two weeks, for instance, then multiply your paycheck by two to get the monthly total. If, on the other hand, your student loan amount covers your full academic year, then divide that sum by the number of months you’re in school to get a monthly average. 

Add up the full amount so you have a clear sense of your total monthly income. 

2. Make a list of your expenses 

Once you’ve added up your income, it’s time to make a list of your monthly expenses. Expenses typically fall into two categories: 

• • Fixed expenses: These stay the same each month and may include rent, utilities and insurance. Your tuition bill may also be fixed and often covers a semester at a time.
  • Variable expenses: These can fluctuate and may include groceries, clothing and entertainment. You can estimate your variable expenses for the full year and divide by the number of months you’re in school to get a monthly average. 

Once you have a list of your monthly expenses, subtract the total from your monthly income. If your expenses exceed your income, you’ll need to cut back on spending or make more money to get out of the red. If you break even, you may still want to adjust your budget so you have some money to put into savings from month to month. 

3. Track your earning and spending 

Once you have a clear sense of your monthly income and expenses, it’s time to put your budget into action. This means tracking your earnings and spending to make sure you’re staying within your means. 

You could use a simple spreadsheet to stick to your budget each month. Here’s a college budget example that could help, but feel free to adjust it to fit your individual needs. 

 

Monthly income	Amount
Wages from a job, internship or assistantship
Savings or contributions from family
Financial aid, such as grants, scholarships and student loans
Other sources of income
Total	$0
Fixed expenses (monthly)	Amount
Rent
Utilities
Phone bill
Health insurance
Transportation
Minimum student loan payments
Other
Total spent on fixed expenses	$0
Variable expenses (monthly)	Amount
Groceries and restaurants
Clothing
Entertainment
Gym membership
Travel and vacations
Streaming services
Other
Total spent on variable expenses	$0
Total expenses	$0
Income remaining (total income minus total expenses)	$0

 

There are also many budget-tracking apps that simplify the process in student budgeting, such as Mint, YNAB and PocketGuard.

4. Find the right budgeting strategy 

Tracking your income and expenses is only one piece of the budgeting puzzle – you’ll also need discipline to spend less than you earn. There are a few budgeting strategies that can help, such as: 

• • 50/30/20 rule of budgeting: This approach has you put 50% of your income toward needs, 30% toward wants and 20% toward savings and extra debt payments.
  • Zero-based budgeting: With this framework, you designate a purpose for every dollar in your budget, whether it goes toward rent, a concert ticket or savings. 

You might have to experiment with different strategies along the way to find one that works for you. Some months are going to be more expensive than others, so make sure to adjust your budget as you go along. 

5. Funnel money into an emergency fund 

If you’re spending all your money each month, you could be left struggling if you run into an unexpected expense. If possible, set aside some money into an emergency fund each month so you have some savings to fall back on. 

Consider opening a high-yield savings account so you’re earning interest on your balance, and explore other tips for saving money. By prioritizing saving money, you’ll be financially prepared if you run into an emergency. 

Bonus tip: Look for ways to save 

As a student, you’re probably living on a pretty tight budget. Fortunately, there are various ways to reduce your spending and boost your savings. Here are some tips for saving money on a daily basis: 

• • Make the most of student discounts: As a student, you might qualify for discounts from major retailers like Amazon and Apple, as well as local stores and restaurants.
  • Opt for meal planning over eating out: Dining out at restaurants and ordering takeout can get expensive fast. By meal planning and grocery shopping, you could significantly reduce the amount you spend on food each month.
  • Buy or rent your books secondhand: New textbooks can also be pricey, so consider shopping second-hand or renting your books with sites like Perlego, eCampus, Chegg, CampusBooks.com and eBay.
  • Live with a roommate or two: Sharing your living space with roommates means you can split the cost of rent, utilities and internet rather than having to pay all the expenses on your own.
  • Seek out free activities in your area: Sign up for a local newsletter to stay updated about free events where you live. If the weather allows, you could also opt for exercising outside so you can skip a pricey gym membership.
  • Limit spending splurges: Finally, try to keep your splurges and impulse buying to a minimum so you’re not breaking your budget. If you tend to shop when you’re stressed out or tired, look for other ways to make yourself feel better that don’t involve spending money. 

Final thoughts: Create a budget for studying in the U.S. to give you peace and guidance

You probably don’t have a ton of wiggle room in your budget studying overseas as an international student, so getting clear on your finances will give you direction. Following a budget and finding ways to save money will give you peace of mind and help you meet your financial goals as you work toward your degree.

For more advice on getting ready, check out these five tips for preparing to study in the U.S. 

How to prepare for international postgraduate study abroad this fall

Planning for international postgraduate study involves more than just academic preparation; it includes financial planning, understanding visa requirements, adapting to a new culture and so much more. Proper preparation can help alleviate potential stress and allow you to focus more on your studies and personal growth. 

Below, you’ll find essential tips to support you through each stage of the process to make your transition as smooth as possible.

Research and choose the right program

Finding a program that fits your academic and career goals is the first step. It’s important to consider not just the reputation of the university, but how the curriculum and faculty expertise align with your interests.

Here are some aspects to consider in choosing the right academic program:

• • Curriculum: Are the courses offered relevant to your career aspirations?
  • Faculty expertise: Do the faculty members hold expertise in your areas of interest?
  • Reputation and ranking: How well is the university recognized in your field?
  • Location: How do the culture, climate and cost of living of the country match your preferences?

Financial planning and budgeting

Next, you’ll need a solid financial plan. Understanding the total cost of studying abroad and funding options will help you manage your finances better. Planning your funding early can save you from the stress of last-minute preparations.

Estimate costs: Calculate everything from tuition fees to daily living expenses. It’s important to note that the cost of living can vary significantly depending on the state you choose. Living in an expensive state like California or New York will demand a higher budget for accommodation, utilities and daily expenses compared to more affordable states like Texas or Ohio. Take these differences into account when crafting your budget.

Scholarships and grants: Scholarships and grants are essential tools for easing your financial burden. Scholarships are typically merit-based or need-based awards that provide financial assistance without the need for repayment, while grants are often need-based and aimed at supporting students who require financial help. Some of the benefits of scholarships and grants: 

• • Reduce financial strain: Scholarships and grants can significantly lower the cost of education by covering tuition fees, books or living expenses.
  • Encourage academic excellence: Merit-based scholarships reward students for their high academic performance, motivating them to maintain or improve their grades.
  • Increase accessibility: Need-based scholarships and grants make education more accessible to students from all economic backgrounds.

By thoroughly researching and applying for relevant scholarships and grants, you can substantially decrease the financial challenges associated with studying abroad.

Student loans: MPOWER Financing offers fixed-rate, no-collateral loans between US$2,001 to US$100,000 total. MPOWER doesn’t ask you to back your loan with collateral and doesn’t require a cosigner, allowing you to take out the loan in your name alone. 

In order to meet the student loan eligibility requirements for an MPOWER Financing loan, you’ll need to be: 

• • Admitted to or attending an eligible school (There are more than 500 MPOWER-eligible schools in the U.S. and Canada).
  • A graduate student currently in or about to start a one or two-year program.
  • An international student, DACA recipient, U.S. citizen, refugee or asylum seeker.

If you meet the above criteria, apply now using the button below! 

 

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Visa and immigration requirements 

Securing your visa and meeting immigration requirements is another hurdle to consider as a potential international student and will require you to plan early. The process often involves gathering a lot of documents and meeting strict deadlines. If you take out a loan with MPOWER Financing, you’re eligible to receive free visa support throughout our Path2Success Program! We help students understand and navigate elements of the F-1 visa process, including their visa interview.

Our visa support services include:

• • A free visa support letter demonstrating students are financially supported for school.
  • A free visa essentials course, so students are fully prepared for their visa interview.

Accommodations 

Your living situation can significantly affect your study experience. It’s important to choose accommodations that meet your needs and budget by researching your area of interest ahead of time.

Common living accommodation options available for international students:

• • University housing: Usually geographically convenient and may include utilities and meal plans.
  • Private rentals: Offers greater independence but can be more complex to arrange.
  • Homestays: Allow for cultural immersion and may be more affordable.

Health care and insurance

Having proper health care coverage is essential to avoid high medical fees. Ensure you select a plan that covers your medical needs while complying with university requirements. Most common health insurance requirements can include:

• • Mandatory enrollment: Many universities require students to enroll in their own health insurance plans.

• • Coverage levels: Policies might specify minimum coverage levels for certain types of care, such as inpatient and outpatient services, mental health care and prescription drugs.

• • Provider network: Some universities require that the insurance plan include access to a network of local healthcare providers.

• • Compliance with visa requirements: For international students, the health insurance must comply with visa-related health insurance requirements.

• • Exemptions and waivers: Universities may allow exemptions or waivers if a student can prove they have equivalent coverage from another plan.

Understanding and meeting these health insurance requirements is beneficial to make sure you have adequate coverage and to avoid any financial penalties or gaps in your insurance. Always review your institute’s specific policies and make sure you are in compliance.

Academic preparation

Getting a head start academically can set you up for success. Familiarize yourself with the academic environment and expectations of your host university.

Academic-strengthening steps to consider:

• • Contact professors and classmates: Use online forums or social media groups to make connections. Establishing a network before you arrive can provide valuable support. Professors can offer guidance on what to expect from their courses and might share supplementary materials. Classmates can share notes, recommend resources and help you integrate into social and academic life more smoothly.
  • Review the curriculum: Familiarize yourself with suggested readings and course structures. Many universities publish syllabi or reading lists in advance. Reviewing these materials can help you get a head start on your studies, identify areas where you might need extra preparation and plan your study schedule effectively. Understanding the course structure in advance ensures you can balance your academic workload with other activities.
  • Understand expectations: Learn about the grading system and unique academic requirements of your host university. Different universities have varying grading systems, assignment structures, attendance policies and participation requirements. Some schools may emphasize original research, while others might focus more on exams and practical applications. Knowing these expectations ahead of time allows you to adjust your study habits and ensures you meet all academic requirements successfully.

Final thoughts: Planning for international postgraduate study goes a long way

Preparing for international postgraduate study abroad involves careful and comprehensive planning. Along with financial, academic and cultural preparations, it’s important to understand the host country’s educational system, secure visas and arrange health insurance. By thoroughly preparing, students can ensure a smooth transition and fully enjoy their international postgraduate study experience.

Postgraduate career tips for international students

Transitioning from student life to a professional career can be challenging, especially for international students. Creating a solid postgraduate career strategy is a helpful way to navigate this transition successfully. A career plan helps you stay focused, increases your chances of landing a job aligned with your career goals and ensures you make the most of the opportunities available. Here are some practical postgraduate career tips to help you on your way.

 

Understand visa and work authorization

Your ability to work in the U.S. hinges on your visa status. It’s important to fully understand your options, such as F-1 Optional Practical Training (OPT), the STEM OPT extension and H-1B visas. Each visa category has its own set of rules, application timelines and eligibility criteria.
Staying well-informed about these options will allow you to plan better and avoid legal complications that could jeopardize your employment prospects. Here are some suggestions:

• • Consult with your international student office: They can provide the latest information and assist you with the application process.
  • Stay updated: Regularly check the U.S. Citizenship and Immigration Services (USCIS) website for updates on visa regulations and requirements.
  • Plan ahead: Start preparing your application documents well in advance to avoid last-minute hassles.

Create a targeted job search strategy

Applying for jobs without a clear strategy can lead to frustration. Focus on companies with a history of sponsoring work visas and tailor your applications to match the job descriptions closely. Personalize your resume and cover letter for each application to highlight how your skills and experiences fit the role. 

• • Research companies: Identify and research companies that sponsor work visas.
  • Tailor applications: Customize your resume and cover letter for each job application.
  • Use job boards: Use specialized job boards that cater to international students.

Free career-building resources with each MPOWER loan

MPOWER Financing recognizes the challenges of building a professional career in the United States. 

For that reason, MPOWER offers exclusive, free career services for all loan recipients through its Path2Success program.

MPOWER Financing career services, include:

• • A guided internship and job search tool for F-1, OPT and H-1B visa-sponsored roles
  • A resume builder to match targeted job requirements
  • Job application support with profile and skill set match
  • A directory of F-1 eligible job roles for STEM and non-STEM degrees

Leverage university resources

Universities offer resources to support international students transitioning to the job market. Career counseling can provide valuable insights into industry trends, job search strategies and the skills employers seek. Resume workshops and mock interviews can help you present yourself to potential employers in the best possible light. Additionally, job fairs hosted by universities allow you to meet recruiters and learn about job openings.

• • Workshops: Attend resume-writing and interview preparation workshops to hone your skills.
  • Job fairs: Participate actively in job fairs and take the opportunity to network with company representatives.

Optimize your LinkedIn profile

A well-optimized LinkedIn profile can be a powerful tool in your job search. Your profile is an online resume that recruiters and networking contacts can access. A professional photo creates a good first impression, while a compelling headline and summary can capture the attention of potential employers. Listing your skills, experiences and endorsements further increases your credibility.

• • Professional photo: Use a high-quality photo with a neutral background.
  • Compelling headline: Create a headline that clearly states your career goals and specializations.
  • Detailed summary: Craft a summary highlighting your achievements, strengths and what you bring to the table.
  • Skills and endorsements: List relevant skills and ask for endorsements from colleagues, professors or supervisors.

Learn all you can about using LinkedIn in your job search.

 

Network effectively

Networking is one of the most effective strategies for career advancement. Networking as an international student can seem intimidating, but it can help uncover job opportunities and gain insights into your desired industry. Attend industry conferences, alumni events and seminars to expand your professional network. Additionally, making connections on LinkedIn and requesting informational interviews can provide you with invaluable information and contacts.

Here are a few networking opportunities you might consider:

• • Industry events: Make it a point to attend relevant industry events and conferences.
  • Alumni networks: Reach out to alumni already established in your field for advice and mentorship.
  • Informational interviews: Request brief meetings with professionals to learn more about their career paths and industry landscape.

Final thoughts: Postgraduate career tips for international students

Building a career strategy as an international student may seem overwhelming, but careful planning and the right resources can make a significant difference. By understanding visa processes, leveraging university resources, optimizing your LinkedIn profile and creating a targeted job search strategy, you can smoothly navigate the transition from academia to the professional world. 

CPT vs. OPT: What postgraduate international students in the U.S. need to know

Getting work authorization in the U.S. can be challenging for international postgraduate students. Curricular Practical Training (CPT) and Optional Practical Training (OPT) are programs that enable international students to gain hands-on experience in their field of study.

Understanding these programs and knowing how they differ is essential for maximizing their benefits and ensuring compliance with immigration regulations. Discover what international postgraduate students like you need to know about CPT and OPT and how to prepare for a successful experience.

Understanding CPT vs. OPT

CPT and OPT offer valuable opportunities for practical work experience, but have different purposes and requirements. CPT is integrated into the curriculum and is typically a required part of some degree programs, such as internships.

OPT, on the other hand, offers more flexibility and allows students to work in their field of study either before or after completing their degree.

Key differences for postgraduates

Combining work experience with academic pursuits is essential for postgraduate students, especially those in research-intensive programs. CPT is particularly helpful as it offers practical experience that directly relates to one’s research or thesis. For example, a Ph.D. student in engineering might use CPT to engage in a research project with a company that complements their dissertation.

Timing and planning

Postgraduate students often have busy schedules with coursework, research and thesis deadlines. Knowing when to apply for CPT and OPT and integrating these programs into your academic plan can make a significant difference. For instance, using Pre-completion OPT during summer breaks or after completing coursework can help balance academic responsibilities and work experience.

Additionally, finding a job that aligns with your CPT or OPT requires time and effort. Start your job search early, allowing yourself plenty of time to secure a position that fits your field of study and career goals. Utilize your university’s career services, attend networking events and reach out to potential employers well in advance to increase your chances of success.

Eligibility and application process

Both CPT and OPT require students to be enrolled full time for at least one academic year. However, postgraduate students might face extra considerations. For example, Ph.D. candidates must ensure their CPT aligns with their dissertation work, while master’s students should confirm that their CPT or OPT does not interfere with their thesis deadlines.

Applying for CPT and OPT involves several steps. For CPT, students need a job offer related to their field of study and must receive approval from their Designated School Official (DSO).

OPT requires an application to the United States Citizenship and Immigration Services (USCIS), which can take several months to process. It’s best to apply for OPT at least three months before you intend to start working to avoid delays.

Postgraduate students must ensure they don’t exceed the authorized work hours and adhere to all reporting requirements. Knowing the rules for CPT and OPT is key to keeping your status safe.

Available resources and support

Most universities offer extensive resources for international students, including career services and workshops on CPT and OPT. These resources can help you with the application process and finding job opportunities. 

Additionally, organizations like USCIS (United States Citizenship and Immigration Services), NAFSA (National Association of Foreign Student Advisers) and MPOWER Financing provide valuable information on CPT and OPT. At MPOWER Financing every customer gets free career support, including a guided internship and job search tool for F-1 students. Explore a student loan with MPOWER today and leverage both university and external resources to make your CPT or OPT experience successful. 

 

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Final thoughts: CPT vs. OPT

Both CPT and OPT are beneficial for postgraduate international students to gain work experience in the U.S. By understanding the differences, planning effectively and using available resources, students can make the most of these work opportunities. Taking proactive steps to explore and secure CPT and OPT positions can improve your academic and professional journey in the U.S.

International student success story: From Bangladesh to Adelphi University

For international students, getting a world-class education often comes with financial challenges. Mohammad Helal, a dedicated student from Chattogram, Bangladesh, faced financial hurdles as he pursued a master’s in supply chain management at Adelphi University in the U.S. 

Read on to learn more about his journey and how an MPOWER Financing loan helped him overcome these challenges.

From dreams to reality

From a young age, Mohammad believed an international education would significantly benefit his career. “I had a dream since I was a child that I would study abroad,” he says.

By the time Mohammad was ready to study in the U.S., he already had a master’s degree and had worked in banking in Bangladesh for seven years. But he aspired to even further career development. “One degree abroad will help me in my career development,” he explains. “That’s why I am doing a master’s in the USA.”

How MPOWER Financing helped Mohammad

Paying for his studies abroad was a challenge for Mohammad. He needed funds not only for his education and living expenses, but also to support his family, who planned to join him in the U.S.

In his search for financial support, Mohammad discovered MPOWER Financing, which provides student loans in Bangladesh to international students studying in the U.S. and Canada. “When I started thinking about how to manage my financial situation,” he recalls, “I had some personal funding, but needed extra money. I started Googling for opportunities and found MPOWER.”

Mohammad gained clarity and a solution for his funding needs by talking with MPOWER’s knowledgeable representatives. After learning about  the process of getting an international student loan in Bangladesh, he decided to proceed with MPOWER and submitted an online application. 

Mohammad remembers the relief he felt when he received his loan approval. “I was very excited and happy. MPOWER’s support made it possible for me to come to the U.S. and focus on my education without financial worries.”

The challenges of studying abroad

Moving to the U.S. has been full of adjustments for Mohammad. “For me, the U.S. is challenging because of its new location,” he said, reflecting on the cultural shifts and getting used to a new environment. Though the transition was tough, he saw it as a chance for growth.

Plans for the future

Mohammad remains optimistic and grateful for the opportunity to study in the U.S. and receive world-recognized education. After graduation, he plans to gain experience in the U.S. job market before deciding on his next move – whether to return to Bangladesh, stay in the U.S. or move to another country. 

Why Mohammad recommends MPOWER Financing

Mohammad’s story is not just about following his aspirations but also about overcoming obstacles with careful planning and support. He says MPOWER Financing made a significant impact on his career and recommends it to fellow students facing similar challenges.

“I have already suggested MPOWER to three of my close friends. Those who want to come to the U.S. for a better education can benefit greatly from MPOWER Financing.”

Mohammad’s experience shows the importance of financial support in achieving educational dreams. MPOWER Financing has been more than just a lender – it enables many students like Mohammad to aspire, achieve and succeed internationally. If you’re ready to take the next step in your educational journey, discover how MPOWER Financing can help you achieve your goals.

 

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International study programs: Math

Pursuing a graduate degree in mathematics can deepen your knowledge of complex mathematical concepts and models applicable toward a future career in multiple industries.

Math is an international study program that is a popular option, and as a STEM discipline, is eligible for a 24-month STEM OPT extension upon earning your master’s degree or Ph.D. 

Here’s what to expect with a mathematics graduate program and possible career options to explore. 

About math programs

A master’s degree in mathematics typically involves one to two years of education. As a graduate student, you can expand your knowledge and skill in pure mathematics or select a program that offers other specializations. Some of these specializations include mathematics education, mathematical statistics and actuarial science. 

Each college and university sets its own graduate math curriculum. During your studies, you’ll gain an understanding of complex proofs and theorems, linear analysis, statistical machine learning, differential equations and more.

Examples of courses you might encounter include complex variables, advanced calculus, dynamical systems and algebraic geometry. Through this advanced coursework, you’ll develop abstract and applied mathematical problem-solving skills.

Depending on your program, you might be required to write a master’s thesis on an approved topic or undergo comprehensive examinations as part of graduation criteria.

Demand for math degrees

Like other graduate STEM majors, mathematics is a popular pursuit among international students. The Institute of International Education’s (IIE) 2023 Open Doors Report shows that mathematics, along with computer science, was the most sought after field of study in the 2022-23 academic year growing 20% compared to the previous school year.

More than 29K mathematics degrees were conferred in the United States during 2022, according to the latest figures from Data USA. 

The heightened interest in mathematics graduate programs is understandable given the degree’s potential return on investment (ROI). In its most recent 2022 study on graduate degree ROI, The Foundation for Research on Equal Opportunity found that 41% of master’s degrees in mathematics offer a positive return of US$500,000 to US$1 million by age 45, relative to the full cost of obtaining a master’s degree. 

Five schools with math programs from our list of over 500+ eligible schools*

For international mathematics students looking for the right place to study in the U.S., MPOWER’s eligible schools list contains a diverse array of prestigious mathematics programs.

Here are five MPOWER-eligible universities to consider:

University of North Dakota (UND)

UND offers a two-year MS in mathematics, a Master of Applied Science (MAS) in mathematics and a Master of Education (MEd) in mathematics. Mathematics graduate students at UND become analytical thinkers and benefit from UND’s research partnerships with organizations in aerospace and engineering.

Ball State University

Ball State’s graduate mathematics program boasts small class sizes, dedicated faculty and a flexible program. Mathematics students studying in the U.S. at Ball State can choose to pursue an MS, which requires a thesis, or a Master of Arts (MA), which doesn’t.

University of Northern Iowa (UNI)

UNI is committed to experiential learning and research opportunities. Six months after graduating, 97% of UNI mathematics students have secured work in their field or entered a Ph.D. program.

Illinois State University

To accommodate student interest and need, Illinois State offers a very flexible master’s program in mathematics. Students can choose from a selection of “sequences,” which include subjects such as actuarial science and biomathematics. This allows them to become specialists in their areas of interest.

Montclair State University

Montclair State University was named the third-best U.S. college for women in mathematics. International students pursuing a Master of Science (MS) in mathematics at Montclair State can study pure mathematics or mathematics education to prepare for careers in industry, government and education.

Each postgraduate mathematics program has different resources, curricula and graduation requirements. To find the program that best suits your academic and professional goals, check out MPOWER’s list of 500+ eligible schools. MPOWER constantly updates its eligible schools list based on criteria like alumni graduation rate and earnings so that MPOWER loans can support international students studying at the strongest postgraduate programs in the U.S.

*Schools mentioned in this post do not endorse MPOWER’s loans, and MPOWER is not affiliated with the schools noted in this message.

Five jobs you can get with a math degree

A graduate degree in mathematics offers career opportunities in various industries – from STEM jobs to math education. Below are five jobs a math degree can unlock.

1. Statistician

As a statistician, you’ll gather necessary data by creating surveys and polls and designing experiments. Using the data results you’ve gathered, you’ll apply mathematical models and techniques to solve an organization’s problems. Based on your computations, you’ll identify patterns and relationships from the data and validate your findings.

The U.S. Bureau of Labor Statistics (BLS) reports that the median annual wage of a statistician as of May 2023 is US$104,110. Those who work as a statistician in computer systems design or related fields earn a median wage of US$140,850 per year. Between 2022 to 2032, this profession is projected to grow 30%.

2. Actuary

Actuarial work is commonly found in insurance companies. They’re responsible for calculating how much risk and uncertainty will cost an organization or agency. Actuaries leverage their knowledge of finance, math and statistics to assess risk levels and offer policy guidance based on their findings. 

The median salary of an actuary is US$120,000 as of May 2023, according to the BLS. This profession is projected to grow 23%, faster than average math-related degrees from 2022 to 2032.

3. Economist

Economists combine their passion for mathematics with finance. As an economist, you’re responsible for developing data-gathering methods and analyzing your collected data through various statistical tools and methods and mathematical models. Based on your analysis, you’ll deliver fiscal or monetary projections and trends to key stakeholders at your organization. 

The BLS reports the median annual wage of an economist in May 2023 was US$115,730. Those who work in scientific research and development services earn a median income of US$140,940. The job is projected to grow 6% from 2022 to 2032; although this is slower than other jobs you could get with a math degree, it’s still faster than average for all occupations.

4. College math professor 

Working as a postsecondary teacher can be a rewarding profession. You’ll interact directly with college-level students and develop a level-appropriate course curriculum to instruct your class. In addition to teaching, college math professors assess students’ information retention through graded assignments, exams and other work.

Postsecondary teachers, in general, earned an average median salary of US$84,380 as of May 2023, according to the BLS. College mathematical science teachers earned a median wage of US$81,020. The highest-paying institutions are typically private colleges, universities and professional schools. Demand for this role is positive with projected job growth at 8% from 2022 to 2032.

5. Financial analyst

Financial analysts develop investment strategies for businesses and organizations to boost profits. They recommend various investments, like stocks and bonds, analyze their performance and make recommendations on how to pivot their financial approach. The role involves evaluating historic and current trends. It also involves assessing an organization’s financial statements. 

According to the BLS, a financial analyst earned a median wage of US$99,890 in May 2023. Those working in securities, commodity contracts and other financial investments earned a higher median wage at US$115,480. Between 2022 and 2032, job growth for financial analysts is projected to grow 8%.

Final thoughts: Getting a math degree in the U.S. 

A graduate degree in mathematics can help you develop your passion for complex computations in math and statistics. It’s a degree applicable to various industries, like health care, technology and finance.

Before you can secure a lucrative career leveraging your advanced math education, however, you’ll need to determine how you’ll pay for your graduate program. If you’ve maximized your grant and scholarship opportunities, an international student loan can provide extra funds. Learn how an MPOWER Financing international student loan can help.