Study Abroad for free – MPOWER loans.

Pursuing higher education abroad can be a daunting task, especially when it comes to financing. International students often face significant barriers in securing loans due to lack of credit history, co-signer, or collateral. However, MPOWER Financing has emerged as a beacon of hope for such students. In this article, we will delve into the world of MPOWER loans for international students, exploring their features, benefits, and eligibility criteria.

 

What are MPOWER Loans?

 

MPOWER Financing is a public benefit corporation that offers loans to international students pursuing higher education in the United States or Canada. These loans are designed to support students in covering their educational expenses, including tuition, fees, room, and board. MPOWER loans are unique in that they do not require a co-signer, collateral, or credit history.

 

Features of MPOWER Loans

 

  • Loan Amount: Students can borrow a minimum of $2,001 and a maximum of $50,000 per academic period, with a lifetime borrowing limit of $100,000.

 

  •  Interest Rate: The interest rate for MPOWER loans ranges from 10.99% to 13.99% APR.

 

  • Repayment Term: The repayment term for MPOWER loans is 10 years, with interest-only payments required while in school and for six months after graduation.

 

  • Grace Period: Students have a six-month grace period after graduation before they need to start making principal payments.

 

  • No Prepayment Penalty: Students can prepay their loans at any time without incurring any penalties.

 

Benefits of MPOWER Loans

 

  •  No Co-Signer or Collateral Required: MPOWER loans do not require a co-signer or collateral, making them accessible to international students who may not have a credit history in the United States.

 

  •  Flexible Repayment Terms: MPOWER loans offer flexible repayment terms, allowing students to make interest-only payments while in school and for six months after graduation.

 

  • No Prepayment Penalty: Students can prepay their loans at any time without incurring any penalties, giving them the flexibility to manage their finances effectively.

 

Eligibility Criteria

 

  •  International students pursuing higher education in the United States or Canada are eligible to apply for MPOWER loans.

 

  •  Students must be enrolled in one of the 400+ MPOWER-approved schools in the United States or Canada.

 

  • Students must have a good academic standing and a minimum GPA of 3.0.

 

  • Students must demonstrate a strong potential for success, as determined by MPOWER’s underwriting criteria.

 

How to Apply for MPOWER Loans

 

  • Students can apply for MPOWER loans online through the company’s website.

 

  •  Students will need to provide personal information, academic transcripts, and proof of admission to an MPOWER-approved school.

 

  •  MPOWER will review the application and provide a decision within 3-5 business days.

 

Conclusion

 

MPOWER loans offer a unique solution for international students seeking financial assistance to pursue their higher education dreams in the United States or Canada. With flexible repayment terms, no co-signer or collateral requirements, and a streamlined application process, MPOWER loans are an attractive option for students who may not have a credit history in the United States. By understanding the features, benefits, and eligibility criteria of MPOWER loans, international students can make informed decisions about their financial aid options and achieve their academic goals.

To Apply through MPOWER loans,  kindly CLICK HERE

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