What is an origination fee? April 03, 2019 17:19 Origination fees are a common loan fee. It covers the cost of processing your loan and having the funds disbursed. Related articles Are there any fees associated with getting a loan from MPOWER? Is there a prepayment penalty? How much can I borrow? When should I apply for a loan with MPOWER? My school is not on the list of schools that MPOWER supports. What should I do?