MPower Education Loan for Abroad Studies

Secure Your MPower Education Loan

Ready to turn your study abroad dreams into reality? With MPower education loans, you can make it happen – fast and without any hassle.

Overview of MPower Loan

MPower Financing is a Washington-based company that’s here to help students like you, with education loans without co-signer or collateral.

Advantages of Choosing MPower Loan

No co-signer or collateral needed.

Steady interest rates, so you know what to expect.

Free help when you need it (for visa support to career tips), at no extra cost.

No penalty for prepayment and loan foreclosures

Available for international students, DACA recipients, refugees, asylum seekers

MPower Education Loan Features

MPower Education Loan Interest Rate

Fixed rates starting at 9.99% (that’s 10.89% APR). Plus up to a 1% discounts

MPower Education Loan Tenure

10 years repayment period, which starts after 6-month moratorium post-graduation

MPower Education Loan Amount

Borrow anywhere from $2,001 to $100,000 to cover tuition and living costs

MPower Education Loan Repayment

Regular payments start after a six-month grace period once you graduate.

Eligibility Criteria & Documents Required

MPower education loan eligibility criteria:
Enroll in a one- or two-year program or within two years of graduating.
Be an international student, DACA recipient, US citizen.
Study at a qualifying school on MPower’s list in the US or Canada.
Keep a GPA of at least 2.5 and have one semester done.
Live in the US or Canada while you study.

Documents required for MPower education loan:
A passport or any official ID.
Your admission letter or enrollment proof.
Your transcripts to show how you’re doing.
Bank statements or scholarship details.
Proof of where you live (a lease or utility bill).

MPower Education Loan vs Other Banks

Feature

Interest Rates

Loan Amount

Processing Fees

Collateral Requirement

Pre-Visa Loan Approval

Repayment Flexibility

Loan Coverage

Loan Disbursement Speed

Prepayment Charges

MPower

Interest Rates

Loan Amount

Processing Fees

Collateral Requirement

Pre-Visa Loan Approval

Repayment Flexibility

Loan Coverage

Loan Disbursement Speed

Prepayment Charges

Other Banks & NBFCs

Interest Rates

Loan Amount

Processing Fees

Collateral Requirement

Pre-Visa Loan Approval

Repayment Flexibility

Loan Coverage

Loan Disbursement Speed

Prepayment Charges

How to Apply for a MPower Education Loan?

Sign Up & Complete Profile

Compare & Select

Check out loan offers from over 15 lenders, including MPower, and pick the one that feels right for you.

Upload Documents

Securely submit your documents like ID, admission proof, transcripts, and financials.

Get Loan Approval

Submit your application on GradRight and get faster loan approvals.

Real Student Journeys: How MPOWER Loans Transformed Their Education

$300M+

Lending capacity

$2B+ Loan

Requests Processed

60,000+

Students Assisted

Ready to unlock Special MPower loan offers? Set up your GradRight profile and get started today.

Frequently Asked Questions

What is the current interest rate for an MPower education loan?

MPower gives you fixed rates starting at 9.99% (11.16% APR). Plus, you can sign up for autopay and get a 0.25% discount. This fixed rate of interest helps you calculate your EMIs beforehand and plan everything to perfection.

What documents are required to apply for an MPower education loan?

Here’s what you need to apply for an MPower education loan:

A valid passport or government ID
An admission letter and transcripts
Bank statements or scholarship proof.
A utility bill or lease to confirm your address.
A resume with your education and work highlights.

How can I compare MPower education loans with other banks?

It’s super easy to compare MPower education loans with other banks with GradRight. Simply make a profile, get loan offers from 15+ lenders. Compare these offers and select the one with the lowest interest and best terms.