Financial Aid
MPOWER Financing Loan
Receive expert, personalized guidance at no cost from VITTIYA to navigate education financing, ensuring a smooth journey to securing the funding you need for your studies in India or abroad.
The Process Explained
How It Goes
Easy 5-Step Digital Journey to Secure Your Education Loan
Ensure Your Loan Eligibility
Check your eligibility & get conditional loan offers
instantly.
Speak with Loan Experts
Connect with our loan counselor to better understand the process.
Share Documents & Fill the Form
Complete required forms & submit documents for bank verification.
Settle Your Best Loan Offer
VITTIYA secures the best rates & maximum loan amount for you.
Get Loan Approval & Disbursement
Get fast loan approval & quick fund
disbursement.
Ensure Your Loan Eligibility
Check your eligibility & get conditional loan offers
instantly.
Speak with Loan Experts
Connect with our loan counselor to better understand the process.
Share Documents & Fill the Form
Complete required forms & submit documents for bank verification.
Settle Your Best Loan Offer
VITTIYA secures the best rates & maximum loan amount for you.
Get Loan Approval & Disbursement
Get fast loan approval & quick fund
disbursement.
Study Abroad
MPOWER Financing Bank Education Loan for Abroad Studies
All you need to know about MPOWER Financing bank education loan for studying abroad.
Overview of MPOWER Financing
Securing an education loan without collateral or a co-applicant can be challenging—but VITTIYA makes it easy through our partnership with MPOWER Financing.
MPOWER Financing, established in 2014 and headquartered in Washington, DC, is committed to breaking down financial barriers for international students pursuing higher education in the USA and Canada. With nearly a decade of experience, MPOWER provides loans for 500+ top institutions, and the entire process is 100% online, making it convenient and accessible.
What sets MPOWER apart is their unique approach: no collateral, no co-signer, and a fixed interest rate throughout the loan tenure. They evaluate your future potential rather than your family’s income or assets. With VITTIYA guiding you through every step, accessing an MPOWER education loan becomes a smooth, transparent, and student-first experience.
Overview of MPOWER Financing Abroad Education Loan
VITTIYA, in collaboration with MPOWER Financing, offers education loans for international students without the need for collateral or a co-applicant. These loans are designed specifically for students pursuing higher education in the USA or Canada. Depending on the location of your university, the loan amount is disbursed in USD or CAD, ensuring currency alignment with your educational expenses.
MPOWER Financing stands out for its student-centric approach—offering flexible, collateral-free loans at competitive interest rates. With VITTIYA’s expert guidance and MPOWER’s unique model, funding your overseas education becomes a smooth, transparent, and accessible process.
| Feature | Detail |
|---|---|
| Loan Amount | Upto 100,000 USD |
| Interest Rate | Starting @ 9.99% |
| APR* | 10.89% to 17.08%, depending on the interest rate. |
| Interest Rate Discount | 0.25% (if you sign-up for autopay) |
| Interest Rate Type | Fixed Interest Rate |
| Minimum Income | N/A |
| Repayment | Simple Interest during the course and also during 6 Month grace period |
| Processing Fees | 5% origination fee on the loan amount when the loan is disbursed. This fee is added to the loan balance. |
| Other Charges | N/A |
| Margin Money | 0 |
| Loan Tenure | Up to 10 years |
| Processing Time | Upto 7 days (after document submission) |
| Prepayment Penalty | No penalty |
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 500+ approved schools in the U.S. or Canada.
Interest Rates for MPOWER Financing Education Loan
With MPOWER Financing, you get a fixed interest rate that stays the same throughout the life of the loan, offering stability and predictability in your repayments. The interest rates start from 9.99%, and a 5% origination fee is applied to the sanctioned amount at the time of disbursal—this fee gets added to your total loan balance.
The APR (Annual Percentage Rate) ranges between 10.89% to 17.08%, depending on your profile and approved interest rate. You can also avail a 0.25% interest rate discount by enabling autopay. However, this benefit can be revoked if you cancel autopay, enter forbearance, make incorrect payments, or switch to a modified repayment plan.
List of Approved Courses by MPOWER Financing
MPOWER education loan 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.
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 with academic and work history
- Proof of home country address (utility bill, bank statement, lease)
- Government-issued photo ID (as secondary ID)
- Standardized test scores (GRE/GMAT, TOEFL/IELTS)
- Valid passport, US visa, and photo ID from your home country
- Current and past academic transcripts or admission letter
- Financial summary/fee estimate from your target university
Application Process of MPOWER Financing Education Loan
You can apply for an MPOWER education loan directly online or through VITTIYA’s partner, for a smoother, guided process. Simply check your eligibility, and the team will handle the rest.
MPOWER Financing Repayment Terms
MPOWER offers a 6-month grace period after graduation. During your course, you pay only the interest. You get up to 10 years for full repayment, and there’s no penalty for prepayment.
INR Loans vs USD Loans by MPOWER
When comparing INR and USD loans, it’s important to look beyond just the interest rate:
- INR loans may seem cheaper initially but often rise to over 16% APR due to hidden costs.
- These costs include 2–6% forex charges, 1–8% insurance, and 0.5–2% processing fees.
- Competitor loans with cosigners starting at 9.99% often increase by graduation.
MPOWER USD loans offer transparent, fixed rates, and are often more cost-effective in the long run.
How to Contact MPOWER Financing?
Office Visit
Address – The Cube at Karle Town Center, 9th Floor, Bengaluru, Karnataka, 560045 (Visit with a prior appointment)
Write to info@mpowerfinancing.com for any assistance.
Online Form
Fill out the contact form on their official website.
Note: You don’t need to contact MPOWER directly if you apply via VITTIYA. Our team handles the entire loan process, ensuring a smooth and hassle-free experience for your abroad education journey.
Overview of MPOWER Financing
Securing an education loan without collateral or a co-applicant can be challenging—but VITTIYA makes it easy through our partnership with MPOWER Financing.
MPOWER Financing, established in 2014 and headquartered in Washington, DC, is committed to breaking down financial barriers for international students pursuing higher education in the USA and Canada. With nearly a decade of experience, MPOWER provides loans for 500+ top institutions, and the entire process is 100% online, making it convenient and accessible.
What sets MPOWER apart is their unique approach: no collateral, no co-signer, and a fixed interest rate throughout the loan tenure. They evaluate your future potential rather than your family’s income or assets. With VITTIYA guiding you through every step, accessing an MPOWER education loan becomes a smooth, transparent, and student-first experience.
Overview of MPOWER Financing Abroad Education Loan
VITTIYA, in collaboration with MPOWER Financing, offers education loans for international students without the need for collateral or a co-applicant. These loans are designed specifically for students pursuing higher education in the USA or Canada. Depending on the location of your university, the loan amount is disbursed in USD or CAD, ensuring currency alignment with your educational expenses.
MPOWER Financing stands out for its student-centric approach—offering flexible, collateral-free loans at competitive interest rates. With VITTIYA’s expert guidance and MPOWER’s unique model, funding your overseas education becomes a smooth, transparent, and accessible process.
| Feature | Detail |
|---|---|
| Loan Amount | Upto 100,000 USD |
| Interest Rate | Starting @ 9.99% |
| APR* | 10.89% to 17.08%, depending on the interest rate. |
| Interest Rate Discount | 0.25% (if you sign-up for autopay) |
| Interest Rate Type | Fixed Interest Rate |
| Minimum Income | N/A |
| Repayment | Simple Interest during the course and also during 6 Month grace period |
| Processing Fees | 5% origination fee on the loan amount when the loan is disbursed. This fee is added to the loan balance. |
| Other Charges | N/A |
| Margin Money | 0 |
| Loan Tenure | Up to 10 years |
| Processing Time | Upto 7 days (after document submission) |
| Prepayment Penalty | No penalty |
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 500+ approved schools in the U.S. or Canada.
Interest Rates for MPOWER Financing Education Loan
With MPOWER Financing, you get a fixed interest rate that stays the same throughout the life of the loan, offering stability and predictability in your repayments. The interest rates start from 9.99%, and a 5% origination fee is applied to the sanctioned amount at the time of disbursal—this fee gets added to your total loan balance.
The APR (Annual Percentage Rate) ranges between 10.89% to 17.08%, depending on your profile and approved interest rate. You can also avail a 0.25% interest rate discount by enabling autopay. However, this benefit can be revoked if you cancel autopay, enter forbearance, make incorrect payments, or switch to a modified repayment plan.
List of Approved Courses by MPOWER Financing
MPOWER education loan 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.
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 with academic and work history
- Proof of home country address (utility bill, bank statement, lease)
- Government-issued photo ID (as secondary ID)
- Standardized test scores (GRE/GMAT, TOEFL/IELTS)
- Valid passport, US visa, and photo ID from your home country
- Current and past academic transcripts or admission letter
- Financial summary/fee estimate from your target university
Application Process of MPOWER Financing Education Loan
You can apply for an MPOWER education loan directly online or through VITTIYA’s partner, GyanDhan, for a smoother, guided process. Simply check your eligibility, and the team will handle the rest.
MPOWER Financing Repayment Terms
MPOWER offers a 6-month grace period after graduation. During your course, you pay only the interest. You get up to 10 years for full repayment, and there’s no penalty for prepayment.
INR Loans vs USD Loans by MPOWER
When comparing INR and USD loans, it’s important to look beyond just the interest rate:
- INR loans may seem cheaper initially but often rise to over 16% APR due to hidden costs.
- These costs include 2–6% forex charges, 1–8% insurance, and 0.5–2% processing fees.
- Competitor loans with cosigners starting at 9.99% often increase by graduation.
MPOWER USD loans offer transparent, fixed rates, and are often more cost-effective in the long run.
How to Contact MPOWER Financing?
Office Visit
Address – The Cube at Karle Town Center, 9th Floor, Bengaluru, Karnataka, 560045 (Visit with a prior appointment)
Write to info@mpowerfinancing.com for any assistance.
Online Form
Fill out the contact form on their official website.
Note: You don’t need to contact MPOWER directly if you apply via VITTIYA. Our team handles the entire loan process, ensuring a smooth and hassle-free experience for your abroad education journey.
yOUR ANSWER
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.
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.
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.
How does MPOWER student loan work?
They provide you with education loans without co-applicant and collateral. They have a list of schools and courses and if your targeted school is on that list then you would be eligible to take MPOWER student loan.
Does MPOWER provides loan for UK based universities?
MPOWER Financing only provides loans for USA and Canada and thus you cannot get an education loan for the UK.
Is MPOWER Financing Safe?
MPOWER Financing is totally safe to chose. This has been established in 2014 and since then has helped a lot of international students to pursue their dream of abroad education.