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.
MPOWER Financing
International NBFC
Upto 7 days Loan Processing Time
Margin
NIL
Processing Fees
5%
Collateral
NA
Non-Collateral
Upto $100k
Repayment Tenure
Upto 7-20 years
Cosigner Needed
No
Interest Rate
Starting from 12.99%*
Countries covered
USA, UK, Canada
Features of MPower Financing
Education Loan Abroad
MPOWER Financing 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 student loans for international students, US citizens, and DACA students. You'll only have to pay interest during school and the first 6 months after graduation. After that, you can repay principal and interest as per the duration of your repayment tenure.
| Features | Education Loan Details |
|---|---|
| Loan amount | Upto $100k (Non-Collateral) |
| Margin money | NIL |
| Interest rate | Starting from 12.99%* |
| Processing fee | 5% |
| Processing time | 7 days |
| Loan tenure | Upto 7-20 years |
| Prepayment charges | NIL |
| Countries covered | MPOWER Financing provides overseas education loans in numerous countries including USA, UK, Canada |
| Moratorium | Study period - 6 Months |
Benefits of MPower Financing Education Loan
No Penalty for Prepayment
You won't face any penalty if you prepay your loan. You can prepay your loan from any location and currency.
No Need for a Cosigner, Collateral, or Credit History
Students can secure a study abroad loan without a cosigner, collateral or an extraordinary credit history.
Flexible Loan Amounts
Mpower Financing provides loans starting from $2,000 to $100,000. These loans cover tuition fees, school supplies, and living expenses for upcoming semesters or settle past-due balances.
Earn upto 1.50% Interest Rate Reduction
You can earn a discount of up to 1.50% on your interest rate. This loan also helps you build your US credit history for future financial opportunities.
6-Month Grace Period After Graduation
You will only have to make interest payments while in school and for six months after graduation.
How To Apply For MPower Financing’s
Education Loan For Abroad Studies?
You can apply for MPower Financing’s Education Loan 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 documents online to presenting them to the banks, Lorien Finance 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!
By entering my details here, I hereby authorize Lorien Finance to contact me through call, message or WhatsApp. It will override my registry on the NCPR/NDNC
Eligibility Criteria For MPOWER Financing Education Loan Abroad
Eligibility Criteria for Borrower:
- Must be enrolled in a two-year program.
- You can apply up to a year before your program begins.
- Must have a degree-seeking program.
Eligible Countries:
- USA
- Canada
Eligible Courses:
- MBA
- General & PhD
- Dental
- Medical
- Law
International Student:
- Resume or CV
- Proof of current address
- Passport
- I-20 (letter of acceptance for US schools)
- Study visa
- Proof of residence in the host country
- Scores from standardised tests like GRE, GMAT, LSAT, MCAT, or NBDE
- Scores from an English proficiency exam like TOEFL or IELTS, or a waiver from the university
- An admission letter from the university
- Transcripts or diplomas from previous universities
- A financial summary of the program's cost or an estimate of attendance costs
- A secondary photo ID from home country (in addition to passport)
- Supporting evidence for the funds listed in the application
- Completion of the MPOWER student loans video and quiz
- References
- Provide a school invoice dated within the last 30 days and current transcripts (unofficial transcripts are acceptable)
- If you have any existing debt, provide a copy of the debt
- If someone else is providing financial support, have them complete our letter of financial support and include evidence
- Optional: Provide a payslip or previous salary evidence
Documents Required
FAQs
Bringing answers to your questions
What are the eligibility criteria for MPOWER Financing's education loans for studying abroad?
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.
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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...
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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...
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I want to express my utmost satisfaction and gratitude to Lorien Finance for their exceptional services....
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Sharikha
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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...
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