MPOWER Financing

International NBFC

Upto 7 days Loan Processing Time

Margin

NIL

Processing Fees

Collateral

Non-Collateral

Upto $100k

Repayment Tenure

Upto 20 years

Cosigner Needed

Interest Rate

Starting from 12.74%*

Countries covered

USA, Canada

Features of MPOWER Financing
Education Loan Abroad

MPOWER Financing, founded in 2014, is a Public Benefit Corporation based out of Washington, DC, on a mission to help students achieve their study abroad goals.

MPOWER aims to provide education loans for international students, focussing on supporting individuals with high potential, irrespective of their financial situation, family background or gender.

MPOWER offers education loans to students without requiring a collateral or cosigner, and looking into the future potential of students. With a fixed interest rate from MPOWER, your monthly payments will never increase during the life of the loan, ensuring clear and transparent loan terms.

Features	Education Loan Details
Loan amount	Upto $100k (Non-Collateral)
Margin money	NIL
Interest rate	Starting from 12.74%*
Processing fees	5% of loan amount
Processing time	Upto 7 Business Days
Loan tenure	Upto 20 years
Prepayment charges	NIL
Countries covered	MPower supports the financial independence of international students in the USA and Canada.
Moratorium	Study period + 6 Months

Benefits of MPOWER Financing Education Loan

No cosigner or collateral required
MPOWER provides students with loans that don’t require a cosigner or collateral, reducing the financial burden and dependency on a cosigner.
No hidden costs involved
An MPOWER student loan has clear and transparent loan terms. It has no hidden charges, like foreign exchange fees or insurance, which you’d want to take into account when considering the “all-in” cost of a student loan.
Autopay discounts
Students can enjoy a 0.25% autopay discount on their interest rate. This further helps in saving costs while studying abroad.
Fixed interest rate
MPOWER offers a fixed interest rate, which means your monthly payments will never increase during the life of the loan.
No prepayment penalty
MPOWER Financing does not charge you any fee if you plan to repay your education loan prior to your loan term.
Complimentary services for financial success
An MPOWER student loan provides benefits beyond funding. From a free visa support letter along with a preparation course to help you secure your US F-1 visa to a U.S.-based credit card and zero - balance bank account to building your U.S. credit history to U.S. tax deductions and assistance in searching for a job, MPOWER helps a student throughout, that too, free of cost!

How To Apply For MPOWER Financing’s

Education Loan For Abroad Studies?

You can apply for MPOWER Financing’s Education Loan with Lorien Finance by connecting with our team of experts. Just fill out the form on our website, and we will schedule a callback and guide you through the process.
From helping you upload your documents online to presenting them to the banks, we will help you throughout the application process.
Once all your documents are uploaded & the KYC process is complete, you can expect your loan to get sanctioned within a few working days.

Why choose Lorien Finance to get an Education Loan from MPOWER Financing?

Best loans at unbeatable interest rates: Lorien Finance strives to bring you the best possible deals for your study abroad loans. Our experts negotiate on your behalf to get education loans at the lowest possible interest rates.
Effortless process: All you need to do is fill out the form on Lorien Finance’s website. Yes, it’s that simple! Our team will take it up from there, making it a hassle-free process for you.
100% free assistance: Lorien doesn’t charge any processing fee or commission for student loans for your study abroad journey!
Quicker loans: With constant application tracking and status updates, our experts ensure that your education loan for studying abroad gets sanctioned as early as possible.
Higher chances of approval: In case of any missing documents or other issues, Lorien’s team promptly reaches out to the bank to find solutions to increase your chances of getting a study loan for your overseas education.

Helping you fulfil your study abroad dream!

Fill out the form so our team can get in touch with you!

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Eligibility Criteria For MPOWER Financing Education Loan Abroad

Eligibility Criteria:
1. Must be enrolled in a two year program.
2. Must apply up to a year before your program begins.
3. Must have a degree-seeking program.
Eligible Countries:
1. USA
2. Canada
Eligible Courses:
1. MBA
2. General & PhD
3. Dental
4. Medical
5. Law

Documents Required

1. Resume or CV
2. Proof of current address
3. Passport
4. I-20 (letter of acceptance for US schools)
5. Study visa
6. Proof of residence in the host country
7. Scores from standardised tests like GRE, GMAT, LSAT, MCAT, or NBDE
8. Scores from an English proficiency exam like TOEFL or IELTS, or a waiver from the university
9. An admission letter from the university
10. Transcripts or diplomas from previous universities
11. A financial summary of the program's cost or an estimate of attendance costs
12. A secondary photo ID from home country (in addition to passport)
13. Supporting evidence for the funds listed in the application
14. Completion of the MPOWER student loans video and quiz
15. References
16. Provide a school invoice dated within the last 30 days and current transcripts (unofficial transcripts are acceptable)
17. If you have any existing debt, provide a copy of the debt
18. If someone else is providing financial support, have them complete our letter of financial support and include evidence
19. Optional: Provide a payslip or previous salary evidence

FAQs

Bringing answers to your questions

What are the eligibility criteria for MPOWER Financing's education loans for studying abroad?
To be eligible for the MPOWER Financing student loan, you should have an acceptance letter from a university in the US or Canada for an undergraduate or postgraduate degree.
What is the interest rate on education loans for studying abroad?
MPOWER offers education loans with low interest rates. The exact interest rate may vary, and we recommend connecting with our experts for the most up-to-date information.
What is the process for applying for an MPOWER Financing education loan for studying abroad?
You can apply for an MPOWER Financing education loan for studying abroad with Lorien Finance. Just fill out the form on our website, and our experts will schedule a callback to guide you through the application process, help you upload necessary documents online, and present the application to MPOWER. Once all documents are uploaded and the KYC process is complete, the loan is expected to be sanctioned within a few working days.
Does MPOWER Financing offer special benefits or interest rate reductions for exceptional academic performance?
MPOWER's education loans are known for their low interest rates, providing financial support for students aspiring to study abroad. While MPOWER may not explicitly mention benefits for exceptional academic performance, Lorien Finance, your trusted education loan partner, works diligently to ensure you access the most favourable terms. By leveraging our expertise and relationships with financial institutions, Lorien assists you in securing the best interest rates available. Our commitment is to make your study abroad journey financially viable, offering personalised support to enhance your overall experience.
Is there a co-applicant or guarantor required for the loan?
MPOWER’s education loans do not require a co-applicant to fulfil your study abroad dreams.
What collateral or security is required for the loan?
MPOWER's provides non-collateral loans to students aspiring abroad education. Lorien Finance can facilitate this communication, ensuring you receive accurate and personalised information customised to your needs. Contact us to make your application process smoother and more transparent.

Lorien’s Success Stories

Real Dreams: Real Achievements

I'm Sambhavi, currently working at Deloitte. Lorien Finance helped me secure an education loan for my Master's in Business Analytics at the University...

Sambhavi

I want to express my utmost satisfaction and gratitude to Lorien Finance for their exceptional services....

Rachna

Thanks to Lorien Finance, I was able to secure an education loan without any hassle. Their online application process made it convenient for me to app...

Sharikha

I'm Sambhavi, currently working at Deloitte. Lorien Finance helped me secure an education loan for my Master's in Business Analytics at the University...

Sambhavi

I want to express my utmost satisfaction and gratitude to Lorien Finance for their exceptional services....

Rachna

Thanks to Lorien Finance, I was able to secure an education loan without any hassle. Their online application process made it convenient for me to app...

Sharikha

Finding suitable accommodation in a foreign country can be challenging, but Lorien Finance made it a breeze. Their partnership with reliable housing p...

Sriram

It was a good experience with Lorien Finance throughout the process they helped me in every step and made the process hassle-free and helped me to g...

Rama

It was a good experience with Lorien Finance throughout the process they helped me in every step and made the process hassle-free and helped me to g...