MPOWER Education Loan
Get Free Education Loan Assistance
Interest Rate
Starting @ 11.99%
Processing Fees
0
Loan Margin
0%
Overview : MPOWER Financing Education Loan Online
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 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 in the US and Canada. To date, students from over 190 countries have taken MPOWER education loans.
What Makes MPOWER Financing Education Loans Different?
MPOWER Financing offers study abroad loans without any collateral or co-applicant, at reasonable interest rates to overseas students. It aims to capitalize the domestic banking restrictions and, in the process, help students in financing their abroad studies. It offers loans in CAD and USD. The process of getting an MPOWER Financing abroad education loan is completely online.
| Features | Details |
|---|---|
| Loan Amount | Up to USD 50,000 |
| Rate of Interest |
|
| Margin Money | Nil |
| Repayment Tenure | Up to 10 Years |
| Collateral Required | Nil |
Loan Procedure
Step 1: Check your loan eligibility on GyanDhan’s website.
Step 2: Once eligible, fill the online loan application form.
Step 3: You will get the conditional loan offer immediately.
Step 4: Upload all the documents on GyanDhan’s online portal for verification.
Step 5: After verification, MPower will sanction your loan. You can also request a visa support document to obtain an I-20 from the university if needed.
Step 6: The loan is disbursed when you receive your admission letter from the college. Upon receiving the confirmation of enrolment, MPOWER will directly transfer the amount to the college.
Documents Required For MPOWER Education Loan
1. Resume or CV - It should include the education and employment history of the applicant.
2. Proof of Home Country Address - any utility bill, banking statement, or signed lease can be submitted.
3. Secondary Photo ID - It includes any ID issued by the government.
4. Standardized Test Scores - GRE/GMAT for graduate studies. International students are required to submit their language proficiency test scores as well - TOEFL/IELTS.
5. A valid passport and photo identification from the country of origin along with a valid US visa.
6. Current university transcripts or admission letters from the university you will be attending.
7. Past transcripts or a diploma from the previous university.
8. University Financial Summary - a list of the fee summary from the university (estimated cost).
Benefits
Getting Your MPOWER Financing Education Loan Through GyanDhan
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.
Loan Without Collateral or Co-applicant
MPOWER Financing provides loans without collateral or co-borrower. Education loan sanctions completely depend on your academic profile and the college you have got admission to.
Free Loan Assistance
GyanDhan assists you throughout the loan process. Thus, you can leave all your education funding-related worries to us. Our education loan counselor will explain the entire process to you in detail and will help you in furnishing all the requirements.
Quick Processing of Loan
The loan processing of MPOWER Financing is much faster compared to other financial institutions. After submitting all the required documents via GyanDhan, conditional loan approval can be obtained within 5 working days.
What Are the Eligibility Criteria For An MPOWER Financing Education Loan?
- An undergraduate or graduate student within 2 years of graduating or admitted to a 2-year or a 1-year program.
- An international student, DACA recipient, a US citizen, or refugee or asylum seeker.
- Admitted to one of the 350 approved schools and universities in the US or Canada.
Which Courses Are Eligible For An MPOWER Financing Education Loan?
MPOWER Financing offers education loans for all the major courses in the US and Canada including:
- STEM (Science, Technology, Engineering, Mathematics)
- Business
- Public Policy
- Law
- Health Sciences
- Economics
Which Countries Are Eligible For An MPOWER Financing Education Loan?
MPOWER Financing offers loans to study in the USA and Canada.
Frequently Asked Questions
Our Lending Partners
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.