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  1. MPOWER Financing
  2. Apply for A Student Loan
  3. Loan Specifications: Cost & Fees

Loan Specifications: Cost & Fees

There is no cost to apply. If your loan is approved, a 5% origination fee will be added to your loan balance when the loan is disbursed to your school. The only other fees you may be charged would occur if you pay late or don't make a valid payment.

  • What will my interest rate be?
  • Will the interest rate ever increase?
  • Can I lower or negotiate my interest rate?
  • What is the Origination Fee?
  • Is there a fee for late or invalid payments?

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DISCLAIMER - Subject to credit approval, loans are made by Bank of Lake Mills or MPOWER Financing, PBC. Bank of Lake Mills does not have an ownership interest in MPOWER Financing. Neither MPOWER Financing nor Bank of Lake Mills is affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. None of the information contained in this website constitutes a recommendation, solicitation or offer by MPOWER Financing or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.