MPOWER Education Loan
Get Free Education Loan Assistance From GyanDhan
Rate of Interest
12.99%
Processing Fees
5%
Margin Money
Nil
Getting an education loan can be an arduous and frustrating process, especially if you don't have any collateral or co-applicant to support your loan application. You don't need to worry anymore as GyanDhan has partnered with MPOWER Financing to help you get a study abroad loan without collateral and a co-signer.
Founded in 2014, MPOWER Financing is working on a mission to reduce the financial barriers to international education. The company is based in Washington DC and offers education loans for higher studies to study in the USA and Canada. They have been dedicated to the study abroad industry for nearly ten years. The loan process is completely online which makes it more convenient for users to take the loan. There are more than 400 educational institutions for which MPOWER can aid you financially. This is the only lender in our partnership that keeps the interest rate fixed no matter what thus providing an additional benefit to you.
What Makes MPOWER Financing Education Loans Different?
They offer no collateral and no cosigner loans, and make loan decisions based on your future potential, rather than your family background, income, or assets.
Overview of MPOWER Financing abroad education loan
MPOWER Financing offers study abroad loans without any collateral or co-applicant, at reasonable interest rates to international students. The lender provides education loans only for educational institutes that are located in either the USA or Canada. The loan amount is provided in CAD or USD based on your university. Some more features that will benefit you in relation to MPOWER financing are shown in the table below.
Feature |
Detail |
Loan Amount |
Upto 100,000 USD |
Interest Rate |
For Graduate Programs - 12.99% For Undergraduate Programs - 13.99% |
APR* |
For Graduate Programs - 13.98% For Undergraduate Programs - 15.01% |
Interest Rate Discount |
0.25% (if you sign-up for autopay) |
Interest Rate Type |
Fixed Interest Rate |
Minimum Income |
N/A |
Repayment |
Simple Interest during the course and also during 6 Month grace period |
Processing Fees |
5% (adjusted in the loan amount, No upfront payment) |
Other Charges |
N/A |
Margin Money |
0 |
Loan Tenure |
Upto 10 years |
Processing Time |
Upto 7 days (after document submission) |
Prepayment Penalty |
No penalty |
*APR (Annual Percentage Rate) can be referred to as the yearly interest rate paid on investments, but it does not take into account the effect of compounding interest within that year.
Total Interest to be paid
0Total Payment Principal + Interest
0Your EMI per month will be
0Eligibility for MPOWER Financing education loan
Below are some criteria that you need to ensure so that you can be eligible for taking a loan from MPOWER Financing.
- You should be an undergraduate or graduate student within 2 years of graduating or about to begin a 1-year or 2-year program.
- You should be an Indian Student aspiring to study abroad.
- Admitted to or attending one of their 400+ approved schools in the U.S. or Canada.
Check the list of approved Schools by MPOWER Financing - Click here!
List of approved courses by MPOWER Financing
MPOWER considers your academic goals as unique. That’s why they support a full range of degree types:
- Master’s
- MBA
- Ph.D.
- Bachelor’s
- J.D.
- LL.M.
- M.D.
- D.D.S.
- Diploma and Associates (Canada only)
Documents Required for MPOWER Financing education loan
MPOWER, unlike banks, does not have very exhaustive requirements for documents but there are a few which are compulsorily required. The documents that you will be needing are -
- Resume/CV - It should include the education and employment history of the applicant.
- Proof of home country address - any utility bill, banking statement, or signed lease can be submitted.
- Secondary photo ID - It includes any ID issued by the government.
- Standardized test scores - GRE/GMAT for graduate studies. International students are required to submit their language proficiency test scores as well - TOEFL/IELTS.
- A valid passport and photo identification from the country of origin along with a valid US visa.
- Current university transcripts or admission letters from the university you will be attending.
- Past academic transcripts.
- Target university financial summary - a list of the fee summary from the university (estimated cost).
How to apply for an education loan at Mpower via GyanDhan
If you are looking to secure an abroad education loan from MPOWER Financing, you can apply online at their website. However, for a hassle-free application process, you can choose to apply for your education loan through GyanDhan.
GyanDhan is an online platform designed to assist Indian students in financing their education abroad. To start your process with us all you need to do is check your loan eligibility and leave the rest to us!
Apply Online
Online Document Submission
Processing & approval
Loan Sanction & Disbursal
Benefits
Getting your MPower Education Loan Through GyanDhan
Guaranteed Best Loan
At GyanDhan, we are committed to providing you with the most competitive education loan available. We strive to offer you the best possible deal, and if you happen to come across a better offer elsewhere, we will cover the difference in interest rates for the entire duration of your education loan.
Completely online process
The entire process of MPOWER Financing Education Loan is online so the students don't have to visit the company even once. GyanDhan will assist you in the entire process.
Conditional loan offer
with the help of GyanDhan you will be able to get a conditional loan offer from MPOWER very fast so that you can also start your visa process as soon as possible.
Loan Top-up
in case the approved loan amount (from Avanse & Incred only) is less than what was required then MPOWER can provide a top-up on the same to meet the requirements.
Low Turnaround Time
With the help of GyanDhan’s education counselor, in case of urgency the loan can be sanctioned in less than 3 - 7 days after the document submission.
Frequently Asked Questions
What is a support letter in MPOWER Finance?
What is origination fee in MPOWER Finance education loan?
What are other services provided by MPOWER Finance?
Does MPOWER Financing cover living expenses?
When does MPOWER Financing loan EMI start?
Can I get an MPOWER education loan for my remaining semesters?

Anam Shams is a seasoned professional in the study abroad field with deep knowledge of admissions and loans. With a passion for helping aspiring students fulfill their academic dreams, Anam combines extensive experience with a commitment to simplifying the complex processes of studying overseas. A trusted advisor, Anam empowers students to navigate admissions seamlessly and secure financial support, making international education more accessible and attainable
Specializes in:
Education loan ,
Study Abroad Admissions

Aman Jain graduated from IIT Kanpur, and currently functions as the CMO at GyanDhan. He is deeply passionate about creating equality in higher education and has directly interacted with 2 Lakh students in his 8-year-long journey.
Specializes in:
Education loan ,
Study Abroad Admissions
MPOWER Financing Education Loan Reviews - Student's Speak
Goutham
North Carolina State University
Highly recommended for those looking for education loan, great and hassle-free assistance each and every step is made very easy.
Sayand Sajith
Queensland University of Technology
The GyanDhan team is extremely efficient. From day one the representative was quick and helpful in finding the best possible bank for my education loan for my PG in Australia.
Akash Nirantar
Rmit University
Special appreciation to Srihari in the GyanDhan Bangalore team who was my one point contact. We are grateful to him.