Secure Your UG Abroad Dreams with MPOWER Financing
Explore the best education loans for international undergraduate students with fixed rates from MPOWER Financing.
Overview of MPOWER Financing Education Loans
MPOWER Financing offers education loans to students studying at universities in the USA and Canada. Get loans up to US$100,000 to cover tuition fees and living expenses without a cosigner.
What makes MPOWER Financing education loans unique?
No cosigner or collateral necessary for loan sanction
Fixed interest rates starting from 9.99% APR
Loan decisions based on future career earnings and academic profile
Covers full tuition and living costs for eligible US institutions
Over 500 approved universities across the United States and Canada
Features of MPOWER Education Loans
Maximum Amount
Up to $100,000 (approx. ₹85 Lakhs)
Processing Fee
6.5% of total loan amount
Interest Rate
Fixed rate from 9.99% to 16.99% APR
Pre-visa Disbursement
Yes, support letter typically in 4–5 days
Eligibility Criteria & Documents Required
You have to meet certain eligibility criteria and submit the necessary paperwork to apply for an undergraduate education loan from MPOWER.
- Start your new degree program within two years of last graduation.
- Be an international student, DACA recipient or US citizen.
- Get admitted to MPOWER's 500+ approved US or Canada schools.
- ID with photo from your home country
- Proof of home country address
- Letter of admission
- GRE/GMAT scores
- Curriculum Vitae (CV)
- English proficiency test results (IELTS/TOEFL)
- University transcripts and certificates
- Estimated cost of attendance
- Copy of passport
Explore MPOWER Education Loan
MPOWER education loans for undergraduate students cover tuition, travel, accommodation, and all study-abroad expenses. To date, over 20,000 students attending over 500 approved universities in the USA and Canada have benefited.
Undergraduate MPOWER Education Loan
Thousands of Indian students used GradRight to secure M-Power’s collateral-free loans, which helped them fund UG studies abroad with predictable fixed interest.
200,000+
students assisted
₹16,300 crore
loan requests processed
₹2,000 crore
disbursed in loans
Choose MPOWER for a smarter, collateral-free student loan experience.
Frequently Asked Questions
Is MPOWER a bank or NBFC?
MPOWER is not a bank or NBFC. It is a public benefit corporation based out of Washington DC with branches across the world. MPOWER provides student loans to students who often face challenges qualifying for loans from traditional banks or lenders because they have no co-applicant and collateral.
How does MPOWER offer student loans without a co-applicant?
MPOWER understands that many international students may not have access to a co-applicant or possess sufficient collateral. To make it easy MPOWER offers international students who want to study undergraduate and graduate courses in USA and Canada easy access to loans if they have ID proof and an admission letter.
Which universities can I study in with an MPOWER Education Loan for undergraduates?
With an MPOWER education loan after 12th you can take admission in any of the 500 top colleges and universities in the USA and Canada. MPOWER study loans do not finance undergraduate education in the EU, UK and Australia at the moment.
How much can I borrow with an MPOWER education loan?
MPOWER offers loans ranging from US$2,001 to US$50,000 per academic period. There is a lifetime limit of US$100,000. For example, a student could borrow US$50,000 in their fall semester. They can again loan another US$50,000 in their spring semester. But no more than that is allowed.
What is the repayment process for MPOWER education loans?
Repayment for MPOWER education loans for undergraduate courses begins after your moratorium period. You will get 6 – 12 months of grace period to find a suitable job and start making payments. You can repay with auto-debit in a currency of your choice. Otherwise you can make bank transfers.
Can you get 80E tax benefits in India when repaying an MPOWER education loan?
MPOWER education loans are not eligible for tax benefits in India. MPOWER is incorporated in the US and the interest on loan cannot be deducted under Section 80E.
How long does the MPOWER education loan application process take?
It will take you less than a minute to check your eligibility. The full application process typically takes approximately 30 minutes and approval is within 2-4 days subject to due diligence.
What expenses does an MPOWER education loan cover?
An MPOWER education loan for UG courses can be used for a wide range of university-related costs when studying in the USA and Canada. These include tuition fees, books, health insurance, and living expenses. You can use it to finance housing, transportation, and meals while you study abroad.
