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
- If a withholding tax applies to me, what should I do then?
- How will I know if a withholding tax applies to me?
- Could I be responsible for repaying amounts other than principal and interest if I am living outside the U.S.?
- 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.?
- How do I set up an automatic withdrawal?
- What is an automatic withdrawal?
- If I apply for $25,000 but my university only requires a smaller amount, do I pay for the whole loan?
- How do I make payments if I go back to my country after school?
- Can I make payments from my Canadian bank account?
- How much time do I have to pay back the loan?