MPOWER Financing Education Loan

Get Free Education Loan Assistance

Interest Rate

Starting @ 11.99%

Processing Fees

0

Loan Margin

0%

Apply 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.

Check MPOWER Financing Education Loan Eligibility

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
  • For Graduate Courses- 11.99% (APR - 12.94 percent)
  • For Undergraduate Courses- 13.99% (APR - 14.98 percent)
    • 0.50% discount will be offered if the students opt for the EMI autopay method.
    • 0.50% discount will be offered on 6 consecutive autopay payments.
    • 0.50% discount on presenting graduation and proof of employment.
Margin Money Nil
Repayment Tenure Up to 10 Years
Collateral Required Nil

Apply For MPOWER Financing Education Loan
mpower  Loan Procedure

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.


mpower Documents

Documents Required

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).


Apply For MPOWER Financing Education Loan To Study Abroad

 

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.



Request a Call Back from our Education Loan Counsellor

 
Yes. It covers expenses including tuition fees, accommodation costs, living expenses, books, and insurance.
Yes. You can apply for an education loan in any year of the study.
You have to start paying your principal amount after 6 months of your course completion.
No, there is no margin money on MPOWER education loans.
No, there is no prepayment penalty on MPOWER education loans.
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