Mpower study loan can help travel abroad
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How MPOWER study loan agency Can Help You Fund Your Study Abroad Dreams; No Cosigner? No Collateral? No Problem!
First off, I am not an ADVOCATE of study loan, but if you MUST, then this is the best option for you.
If you’re an international student trying to figure out how to pay for your studies abroad using study loan, then this post is for you.
MPOWER Financing is one of the few study loan options that doesn’t ask for a cosigner, collateral, or credit history.
Here’s a simple, step-by-step breakdown of what it is, who can apply, and how it works
What Is MPOWER Study Loan?
MPOWER Financing is a U.S.-based company that gives education loans to international and DACA student sstudying in Canada or the United States.
What makes MPOWER stand out?
- No need for a cosigner
- No need to offer property or savings as collateral
- No need to have a U.S. credit score
They base your loan approval on your future potential, not your past finances. If you’ve got admission into a supported school and program, you’re halfway there.
Who Is MPOWER Meant For?
MPOWER is specifically designed for:
International students (like Nigerians, Indians, Ghanaians, etc.)
Those pursuing undergraduate (last 2 years) or graduate programs in the U.S. or Canada
Students already admitted or currently enrolled in partner schools (they work with over 400 schools)
Perfect for you if:
1. You’ve been struggling to get a loan because of lack of collateral
2. No family or friends in the U.S./Canada to cosign
3. You want a transparent loan process with no hidden stress.
MPOWER Loan Eligibility Criteria
To qualify, you must:
Be an international student, DACA, refugee, or asylum seeker.
Be admitted into a full-time degree program (Bachelor’s or Master’s) at one of MPOWER’s partner universities in the U.S. or Canada.
Be within 2 years of graduation.
Be 18+ years old and have a valid visa or immigration status.
Not need a cosigner or collateral; just YOU.
Bonus: If you’re already in your program, you can still apply!
How to Apply – Step-by-Step Guide
- Create an MPOWER account on their website.
- Fill out the online application form – takes about 30 minutes.
- Upload the required documents: admission letter, passport, visa, etc.
- Wait for the conditional approval.
- Complete the loan verification process.
- Once approved, MPOWER sends your loan directly to your school.
Loan Amount & Interest Rates
You can borrow up to $100,000 total (max $50,000 per academic period).
Interest rates are fixed, around 12.99%–13.99%, but it depends on your details.
Some discounts apply if you sign up for autopay or take free financial literacy courses!
Repayment Options – How It Works
No big payments while studying!
You only pay small interest-only payments while in school and during the 6-month grace period after graduation.
Full repayment starts 6 months after you finish your program.
Loan term is usually 10 years, so you’ve got time.
And yes, you can pay off early with no penalty.
MPOWER gives hope to students who have the admission but not the bank balance. And if that sounds like you or someone you know, this is your sign to apply.
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Drop a comment if you want the direct link or help with the application process!
