MPOWER Financing as a whole is a Pubic Benefit Corporation whose mission is stated to enable the reduction of financial barriers or burdens to international education. This Public Financial Corporation is located in Washington, DC, with its branches in New York and Bangalore, India. It was established by Michael Davis and Manu Smadja in 2014, both of whom attended INSEAD Paris where they met.
Thus, this article will be explicitly or extensively explain what MPOWER Financing is all about so as to enable you to know about it before making the choice of getting a loan from it.
Therefore, if you are in dark about what it entails, it is very easy, you just have to pay rapt attention to this article as its main purpose or essence is to shed light on it or as said earlier, to explain it extensively or explicitly.
MPOWER Financing: The Pros and Cons
The MPOWER Financing has its Pros and Cons which can be otherwise stated as the features of this Public Benefit Corporation. However, in this section of the article, will be stated the Pros and Cons of MPOWER Financing so as to aid your knowledge about this Corporation. Therefore, they will be stated below.
The Pros are;
- With no Cosigner, these Mpower financing loans and scholarships are available to international students. There are easy qualifications for a loan option on your own without you making use of a cosigner.
- Different from other educational lenders that make the performance of lengthy credit checks on applicants in such a way the MPOWER Financing does not do this, simply means you going through credit checks before you can get a loan is not allowed in this Public Benefit Corporation.
The Cons are;
- Being a student gives you access to about twenty-five thousand dollars ($25,000) per year and a lifetime limit of fifty thousand dollars ($50,000) thus making your loan limit low.
- Differ from other private education lenders by having a higher interest rate from them. Their interest rates for graduates are about 11.59% and 13.63% for graduates.
How do I apply for an MPOWER Financing Loan?
The application for an MPOWER loan is a really straightforward procedure or process, the whole process can be completed online. Therefore, this section of the article will be given the process of applying for an MPOWER Financing Loan in order to make it easier for you to get the loan since it is a straightforward process. Thus, the process will be stated below.
- First of all, you have to visit its website which is https://www.mpowerfinancing.com/
- Then make a click on the call to action button “Get Started”.
- Afterward, redirection to an eligibility page will be done by them.
- By entering the necessary details, complete the Eligibility check, which includes your name, university, Email, degree, etc.
- Click on the “check now” button after those details are entered.
- Then if stated eligible, your application can be started immediately.
Thus, haven explained what the subject matter entails, it should provide you the choice to get a loan from this benefiting Public Benefit Corporation.