MPOWER Loans for Students in the U.S. and Canada
Explore the key benefits of MPOWER loans:
- Financial independence: Our loans require no cosigner or collateral because we believe in your career and academic success.
- Fixed interest rates: Enjoy competitive, fixed interest rates that protect you from market fluctuations and inflation, ensuring predictable monthly payments throughout the life of the loan. Plus, you can receive a 0.25% interest rate discount by enrolling in automatic payments.
- No prepayment penalties: Pay off your loan early without any additional fees.
- Interest-only payments: While in school, interest-only payments help build your U.S. credit history through on-time payments. Learn more about repayment.
- Grace period post-graduation: Benefit from a 6-month grace period after graduation, allowing you time to find a job and stabilize your finances before starting full (interest + principal) payments.
- Path2Success and benefits beyond funding: Every approved loan comes with extra benefits, including visa support, career and professional assistance, and prequalified credit card and bank account offers in the U.S. and Canada. Learn more about these benefits by watching a short video.
- Enjoy no application fees and receive a "Visa Support Letter" at no charge once approved.
- No hidden costs: A transparent 5% origination fee is added to your final loan amount, ensuring clear terms and zero out-of-pocket expenses upfront.