We understand how important an education loan is to your future goals. Some common reasons for denial are choosing an ineligible school or program, academic performance, debt-to-income ratio, funding constraints, or issues with your credit standing. Let’s look at some ways to rectify each reason for decline:   

• Choose an eligible school and program: If you’ve been admitted to an MPOWER-eligible school or program, don’t hesitate to contact MPOWER for guidance on the next steps.
• Improve academic performance: For minimum qualification, you’ll need a GPA of 2.5 in your current program. If your academic performance improves, we encourage you to reapply 90 days after your initial denial.
• Resolve issues with your credit: If you have a credit history in your home country, the U.S. or Canada, we do review it. It’s important to ensure the credit report has no late payments, collections or delinquencies. Should you identify any inaccuracies on your credit report, please contact TransUnion for U.S. and Canadian accounts at +1-800-888-4213 or Nova Credit for international accounts at +1-844-423-1345. Once discrepancies are resolved, please contact MPOWER for further assistance.
• Improve debt-to-income ratio: If you have a postgraduate job offer, please provide proof by contacting your relationship manager.
• Demonstrate funding: If you have additional funding sources to help cover your educational expenses such as scholarships or family contributions, let your relationship manager know.

Would you like to know more about the application process after the denial decision? Click here to learn more.