MPOWER reviews each refinance application thoroughly, and there are several reasons why an application might be declined:

• Ineligible Amount/Loan Type: The loan you are looking to refinance is not a student loan, or the requested loan amount is outside the purview of MPOWER’s credit policy.
• Credit Score Declines: Your credit score is below the acceptable threshold of the MPOWER credit policy. Learn how you can improve your credit score here!
• Ineligible Country of Loan Origination: The country where the loan originated is not on the MPOWER eligible list of loan origination countries.
• Credit Report: Your credit report displays a delinquent past or present credit obligation.
• Unsustainable Debt: You have an excessive obligation compared to your current income.
• Exceeds program limit: Your requested loan amount or outstanding balance of the current education loan to be refinanced exceeds MPOWER loan program limits (currently US $100,000)
• Work authorization validity not met: Your current employment type and duration do not meet the MPOWER program eligibility requirements.

If your current status changes, you can reapply with MPOWER after 90 days. However, if you reapply without addressing the reason for the previous decline, you risk receiving a similar outcome, which may negatively impact your credit score.