MPOWER Financing – How to Apply for MPOWER Financing Student Loan

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The MPOWER Financing platform serves students who desire to study in North America and beyond. It has not been easy to find student loan lenders to support students studying in North America. And it is profuse when the candidate is not a citizen or permanent resident.

MPOWER Financing
MPOWER Financing

It is a platform that deploys a funding solution for students all around the world. They provide loans to students studying in the United States or Canada without employing cosigners or credit checks. Not all students are eligible to apply for this loan, this is why you should know about it and check your eligibility level first.

MPOWER Financing | Student Loans Offered by MPOWER Financing

The loans are targeted at U.S. students who are attending an eligible United States University. These loans do not require a cosigner or credit history to be eligible.

You can pay interest only while you are in school and for six months after graduation. Note that you are left for just 10 years loan term with full interest and principal payments completed.

U.S. Citizen, Permanent Resident, and DACA Undergraduate Student Loans

U.S. citizens, permanent residents, and DACA students fighting for bachelor’s degrees are eligible for an undergraduate loan of MPOWER Financing with multiple loan discounts. There is no prepayment penalty.

Loan Terms for Domestic Undergraduate Loans

Fixed Rates – 9.99% (10.91% APR)

Loan Amounts – $2,001 to $25,000

Loan Terms – 10 years

U.S. Citizen, Permanent Resident, and DACA Graduate Student Loans

This is a loan option for graduate students in the range of leaving school. So, United States citizens, permanent residents, and DACA students can enjoy the below range of terms and rates. It also has low-interest rates among all other loans offered in MPOWER Financing.

Loan Terms for Domestic Graduate Loans

Fixed Rates – 7.99% (8.89% APR)

Loan Amounts – $2,001 to $25,000

Loan Terms – 10 years

International Undergraduate Student Loans

International students with 2 years of graduation can be eligible for an undergraduate student loan. Applicants are required to have been admitted already before applying or attending one of the MPOWER Financing partner schools in the U.S.

Loan Terms for International Undergraduate Students

Fixed Rates – 13.99% (14.98% APR)

Loan Amounts – $2,001 to $25,000

Loan Terms – 10 years

International Graduate School Loans

Students that are enrolled in a program with less than 2 years of graduation can qualify for the MPOWER international graduate school loans. There is room for multiple interest rate discounts and no prepayment penalties when you pay the loan early.

Loan Terms for International Graduate Students

Fixed Rates – 11.99% (12.94% APR)

Loan Amounts – $2,001 to $25,000

Loan Terms – 10 years

How to Apply for MPOWER Financing Student Loan

To apply for the loan, follow the below step:

  • Launch a web browser
  • Enter the URL https://www.mpowerfinancing.com/get-a-loan/
  • click on Apply Now, or navigate to the Get A Loan section and click on Apply Now from the drop-down menu
  • Provide information about yourself from the option listed
  • Select an option on how you heard about this platform
  • Click on NEXT
  • Then enter the information below to check your eligibility
  • Enter into your university, degree, expected graduation date (month & year), first name, last name, email, mobile number, citizenship country, loan amount requested.
  • Select one or more academic periods
  • Check the box to signify your review and agreement to Privacy Policy
  • Click on CHECK NOW

You will be notified either by mail or instantly if you are eligible to loan from this MPOWER Financing platform. If you are eligible, you can request the loan and then get directions on how you are going to be paid.

Documents Required

Below are some required information and document when applying for this loan:

  • List of school expenses involved like tuition, housing, and textbooks
  • Resume or CV (this is optional for undergraduates)
  • Standardized test scores (for graduates)
  • An English proficiency exam scores
  • College admission letter
  • Past transcripts or diploma
  • A passport
  • Secondary photo ID from your home country
  • Supporting evidence of funds like bank statements

And that’s it.

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