Several factors impact our loan decision. Here are some reasons why an application may be declined:

You have not graduated yet. (link below)

We are not currently providing the refinancing option in the country, state, or province where you are residing. (link below)

Your current employment duration does not meet our eligibility criteria. (link below)

Your employment status is not full-time. (link below)

Your work authorization will expire in less than two years. (link below)

We are not refinancing loans that have originated in the country you selected. (link below)

Your credit history shows delinquencies in the past or currently. (link below)

Your current financial situation indicates risk that you may have trouble sustaining your loan payments. (link below)

You have not graduated yet.

One of the eligibility criteria to refinance your is that you should have already graduated from your program. You can reapply once you meet the requirements. 

We are not currently providing the refinancing option in the country, state, or province where you are residing.

To be eligible for refinancing, you must reside in the U.S.

Your current employment duration does not meet our eligibility criteria.

You must be working for at least three months in your current job to qualify to refinance your student loan.

You can reapply once you fulfill this requirement.

Employment status is not full-time.

You must be working full-time at your current job to be eligible for refinancing your student loan. 

Your work authorization will expire in less than two years.

Your work authorization must be valid for at least two years to meet the eligibility criteria. 

You can reapply if your work authorization is extended.

We are not refinancing loans that have originated in the country you selected.

To be eligible for refinancing, you must be a citizen of certain countries. 

We hope to expand refinancing to other countries in the future. Please check if the country of your citizenship is added to our list.

Your credit history shows delinquencies in the past or currently

If your application was declined for delinquent credit obligations, this means the missed payments or other delinquencies in your credit history present significant risk. Even if your accounts are brought up to date, these past delinquencies may still impact the application decision.

NOTE: We are unable to tell you if a delinquency will impact your application before an application is submitted. Our credit team needs to review your completed application to make a decision.

You have a right under the U.S. Fair Credit Reporting Act to know the information contained in your credit file at the credit bureau listed on your loan decision letter. If you are not aware of any delinquencies or credit history, or if you believe there is a mistake in your credit history, please contact TransUnion or the credit bureau in your home country to dispute any incorrect information. MPOWER can only make a decision based on the credit reports provided by the credit bureaus and can not reconsider until the credit bureau updates the credit report. If a correction is made, you may reapply.

Your current financial situation indicates risk that you may have trouble sustaining your loan payments

The MPOWER credit team looks at many factors to understand your current and future financial situation. If the review of these details indicates you exceed our risk limits for your ability to sustain monthly loan payments, the application will be declined.