Automatic withdrawal, or auto-ACH, is the electronic method MPOWER uses to collect payments from our borrowers on a recurring basis. You provide us with your U.S. bank account information through our secure portal and your bank automatically transfers the money to us when it’s time to pay your loan. You’ll see these withdrawals reflected in your bank statements.
Articles in this section
- When will I need to start repaying the loan?
- What payment methods can I use to repay my loan?
- I need to cover my living expenses. Can I apply for a loan to cover them specifically?
- How much time do I have to pay back the loan?
- Can I make payments from my Canadian bank account?
- How do I make payments if I go back to my country after school?
- If I apply for $25,000 but my university only requires a smaller amount, do I pay for the whole loan?
- What is an automatic withdrawal?
- How do I set up an automatic withdrawal?
- Will I be required to repay anything in addition to principal and interest on my MPOWER student loan if I continue to live and work in the U.S.?