You can apply for an MPOWER Study Abroad Loan to achieve your dream of studying abroad. Currently, MPOWER Financing is accepting applications for past, current, and future semesters.
Getting an International loan with MPOWER is an easy and affordable way for you to fund your education. Are you interested in getting this loan? If yes, read on to learn more about this student loan.
MPOWER Study Abroad Loan
Fortunately, the study abroad loan does not require a cosigner or collateral. MPOWER supports over 400 schools across Canada and the United States. If the school you are admitted to or enrolled in is among the supported schools, you can apply for this loan.
MPOWER Financing is a company interested in removing the financial obstacles students often face when they pursue their dream of financial education. It achieves this by providing a study-abroad loan.
The loan gotten from this company can be used to cover University related expenses. This includes tuition fees, books, housing, health insurance, meal plans, and lots more.
Eligibility Criteria for MPOWER Study Abroad Loan
To be eligible for the MPOWER Student loan, you must meet the criteria below:
- You must be an undergraduate or graduate student within 2 years of graduating or about to begin a 1 year or 2-year program.
- Also, you should be admitted to one of the approved schools in the U.S. or Canada. You can check the list of approved schools via the link mpowerfinancing.com/get-a-loan/schools-we-support/
- Lastly, you must be an international student, DACA Recipient, U.S Citizen, refugee or asylum seeker.
If you meet these requirements, you can go ahead and apply.
Documents Required for Application
The document required for the loan application depends on the student category you belong to. You can get the list of required documents by choosing your student category on the official page http://www.mpowerfinancing.com/get-a-loan
How to Apply for MPOWER Study Abroad Loan
To apply for the study abroad loan, follow the steps below:
- Check your eligibility status on the company’s official website via the link mpowerfinancing.com
- Next, fill out the application form and submit it with a valid and unexpired photo ID.
- Wait for your application to be reviewed by the credit team after which you will be contacted by the team.
- When you receive a conditional offer from MPOWER, upload all the required documents.
When this is done, there will be a final review after which your loan application will be approved.
Benefits of MPOWER Study Abroad Loan
Here are some of the benefits of getting an international student loan from MPOWER:
- It offers international student loan refinancing.
- Does not require a credit history or score for approval.
- The interest rates discounts are significant.
Also, MPOWER offers loans to international students without a co-signer requirement.
Frequently Asked Questions
Is it Hard to Get an MPOWER Loan?
Although MPOWER loans are offered to students that have been disapproved by other lenders, there are some restrictions when it comes to getting the loan. However, it may not be hard to get a loan if you are considered eligible.
How do I Get an MPOWER Loan?
Before you begin any loan application, it is important you check the loan eligibility. After confirming your loan eligibility, you need to fill out the form and submit the required documents before the application deadline.
Who is Eligible for the MPOWER Loan?
To be eligible for the MPOWER student loan, you need to be a graduate or graduate student within 2 years of graduating or about to begin a 1-year or 2-year program. This is one of the basic eligibility requirements.
How Long will it Take for my MPOWER Loan Application to be Approved?
It takes about 10 business days for your loan application to be approved. This is because your documents will be reviewed by the credit team. In some cases, additional documentation may be required.
What Countries Support MPOWER?
The Leading Universities and Schools in the U.S and Canada support MPOWER.
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