Congratulations on getting a loan offer from MPOWER. You’re now ready for the next big step: reviewing and e-signing your loan offer on your MPOWER Portal.
What happens next depends on whether you're attending school in the U.S. or Canada:
For U.S. Schools:
1. Once you sign your loan offer, and about 45 days before your term start date, MPOWER contacts your school for certification.
2. Your school’s financial aid office certifies your loan by confirming your enrollment, approved loan amount, and disbursement schedule.
3. MPOWER disburses the funds based on your school’s certification.
For Most Canadian Schools:
1. We follow the standard disbursement schedule. If you wish to make changes to the disbursement dates, you can reach out to your relationship manager at mpower.me@mpowerfinancing.com.
2. Based on your disbursement schedule, we may need a recent school invoice to finalize the exact disbursement amount.
How MPOWER’s disbursement process helps:
MPOWER sends the funds directly to your school to ensure timely processing, avoid extra charges. This also helps you avoid foreign exchange fees (typically 1–3%). You’ll make interest-only payments on the disbursed amount, and interest begins only when the funds are sent, usually at the start of your term, helping to keep overall costs lower.
Quick reminder: Please upload your visa document or study permit as soon as you receive it, as we’ll need it to proceed with disbursing your funds.
