MPOWER Education Loan

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Rate of Interest


Processing Fees


Margin Money


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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.

Check MPOWER Financing Education Loan Eligibility

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.



Loan Amount

Upto 100,000 USD 

Interest Rate

For Graduate Programs - 12.99%

For Undergraduate Programs - 13.99%


For Graduate Programs - 13.98%

For Undergraduate Programs - 15.01%

Interest Rate Discount


(if you sign-up for autopay)

Interest Rate Type

Fixed Interest Rate

Minimum Income



Simple Interest during the course and also during 6 Month grace period

Processing Fees


(adjusted in the loan amount, No upfront payment)

Other Charges


Margin Money


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


Total Payment Principal + Interest


Your EMI per month will be


Eligibility 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


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?

MPower Finance offers a visa support letter that can be used by students to obtain their I-20 for securing a US student visa.

What is origination fee in MPOWER Finance education loan?

It is similar to the processing fee that is asked by other lenders, the only difference is that it is adjusted in the loan amount only and it is charged on each disbursal.

What are other services provided by MPOWER Finance?

They provide refinancing, scholarships, Path2Success career service programs, and more.

Does MPOWER Financing cover living expenses?

Yes. It covers living expenses but the total disbursed amount is transferred to the university directly and the applicant has to coordinate with the university’s financial support to get the living expenses.

When does MPOWER Financing loan EMI start?

You have to start paying your principal amount after 6 months of your course completion. Till then you have to pay only simple interest.

Can I get an MPOWER education loan for my remaining semesters?

Yes. You can apply for an education loan in any year of the study, you just need to follow this criteria - you should be an undergraduate or graduate student within 2 years of graduating or about to begin a 1-year or 2-year program.

Written by Anam Shams

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

Photo aman jain
Reviewed by Aman Jain

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

Our Lending Partners

MPOWER Financing Education Loan Reviews - Student's Speak


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.

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