Get instant loan offer suitable to your profile !
On this Page:
Read about the MPOWER Financing education loan disbursement process. Know how the education loan from MPOWER Financing gets disbursed after the loan is sanctioned.
Rohit GidwaniUpdated on: 16 Nov 2023
The education loan process can be confusing if you are unaware of the steps and requirements. In our continuous efforts to spread the correct information about abroad education loans, we have come up with the study of MPOWER Financing education loans disbursement process. MPOWER Financing, established in 2014, is a lender based in Washington which offers education loans for higher studies in the USA and Canada.
The best thing about MPOWER Financing is that they do not need collateral or a co-signer to get your loan done and they are able to provide loans up to 100,000 USD. This is the reason that it is preferred by many abroad study aspirants. The entire loan process of MPOWER Financing is online and thus having proper knowledge about its disbursement phase would help you in getting the sanctioned amount to the right use. Before we dive into the disbursement process let us have an overview of the features of MPOWER Financing loan.
Fill this form and get in touch with an expert
Once your loan has been approved/sanctioned and you have got a sanction letter then comes the disbursement process. In simple words, disbursement means paying out the money. Here, in the case of an abroad education loan, the disbursement process means releasing the money that has been approved by the lender. MPOWER Financing directly disburses the amount to your university. The loan amount provided by this lender is in USD and CAD currency which helps to avoid the Forex charges. There are 400+ universities/colleges in the USA and Canada for which MPOWER Financing can easily provide you with loans. The different aspects of the MPOWER Financing education loan disbursement process are -
**NOTE: MPOWER will send the full loan amount directly to your school. It is up to your school to apply the funds. Please contact your Financial Aid Office for more information about how you will receive funds for living expenses, because this process and the acceptance may vary by school.
Some of the major things you must keep in mind regarding the MPOWER Financing education loan disbursement process is -
Usually, there is a huge list of documents that you may need to submit in order to get your loan disbursed. This is not the case with MPOWER Financing as the documents required by them are quite a simple and small list. The required documents are -
There are several benefits that you may get when getting your loan disbursed from Axis Bank through GyanDhan. These benefits are -
With your understanding of the disbursement process, you can proceed with confidence to apply for an education loan to study abroad. You can check your eligibility for a loan and expect a call back from GyanDhan to begin the application process. Don't hesitate to take this step towards financing your education abroad.
Once the university/college has made the request to MPOWER for loan disbursement then it usually takes approximately 2 weeks to disburse the amount to the educational institution. In the case of USA, the amount cannot be disbursed 90 days before the start of the session.
For all countries, MPOWER Financing can be reached via phone during business hours at +1-202-417-3800 (U.S.) and +1-647-503-4607 (Canada). You can also fill out the MPOWER Contact Us Form.
Yes, MPOWER Financing is a legit lender which has been established in USA for approximately 10 years now. 4 Billion plus has been done in loan applications by MPOWER Financing.
Network with a community of curious students, just like youJoin our community to make connections, find answers and future roommates.. Join our Community