MPOWER Financing International Student Loans: $100 for you & a friend!

oh finally. Thanks.

Hey Abhi,
Are you looking for any specific information? If not, we do have extensive information on https://www.mpowerfinancing.com. Do let us know if you need any additional information.

Mandar

Does anyone know when MPower will resume granting loans again?

Let me check. They were working on the backend systems last time we chatted but I hope they get it up and running ASAP.

thanks, looking forward to your update!

Thank you for the reminder. I have checked in and heard back that they have paused lending for this years incoming students.

They are still financing their students from previous years. However they’re not offering any new loans for incoming students. They’re hoping to be able to do it soon but I don’t know what that means they didn’t quite say when they will resume landing but they said they would let me know as soon as that happens.

Keep in mind that MPower only finances a limited number of schools. Check their website for the schools that they work with.

Posted from my mobile device

I have pinged MPOWER and here is what I heard back:

1.) Is MPOWER processing loans now?
Yes, MPOWER is accepting loan applications for past, current, and future semesters. This means that students accepted into business programs in December should apply and secure their full program funding from MPOWER.


2.) Is there enough funding or any issues that should be anticipated with funding
We have sufficient funding nor anticipate any issues with our funding sources. We have always and will continue to honor all funding commitments and approvals we make to our students. It is a point of pride that we are a social benefit corporation made up predominantly of international student graduates. Our mission is to remove the financial barriers to make higher education accessible and borderless. Practically, this means we evaluate students for financing based on their future potential which means we never require collateral, cosigner, or a credit history.


3.) What markets/schools are approved?
We support students at a growing list of over 350 universities in the US and Canada. Full list available here: https://www.mpowerfinancing.com/get-a-l ... e-support/


4.) Can MPOWER be used a second loan in addition to local bank or a global company such as Prodigy?
Yes, getting an MPOWER student loan does not preclude a student from accessing additional financing. That means they can use MPOWER in tandem with other financing sources. We offer competitive, fixed interest rates, visa and career support, and students are approved for the full program funding at time of final decision (i.e., an accepted MBA student could find out today how much MPOWER funding they qualify for and secure financing for the next 2 years of their MBA program). Because of these benefits, we often find students choose MPOWER as their preferred lender for those who want to study and stay in North America after graduating.


5.) How long does the process take? Is it 5-6 days as mentioned on the site?
It takes 30 seconds to check your eligibility, 30 minutes to submit an application, and less than 3 days to receive your conditional offer. A final loan approval depends on how fast students verify their application information with documentation. Altogether, yes 5-6 days or sooner as mentioned on our website, particularly if a student needs financing immediately (i.e., for a past balance or current semester).

Do they provide loan upto 100% of COA

Posted from my mobile device

I am working with them on my loan for this Fal semester. they allow max $25k/ semester and up to $50k in total

Hi everyone,

We have a live chat session with the MPOWER Financing team about "Financing your MBA " in about 30 minutes from now at 8 AM PST | 8:30 PM IST. You can join the chat at the following link

https://gmatclub.com/forum/mchat.php