What is the repayment term for refinancing? February 14, 2025 21:04 Updated Details of repayment term for MPOWER refinancing: Fixed repayment term: You'll have a set repayment period of 10 years. No prepayment penalty: Pay off your loan early without any extra charges. Related articles Is there a minimum and maximum loan balance that I can refinance? Will my interest rate increase for my refinanced loan? When does my loan application expire? What will my interest rate be if I refinance my student loan? How and when is the refinance loan disbursed?