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How to Apply for Mpower Financing Loan 2021 Application as a Student
Mpower Financing Loan 2021: Mpower is a team of global citizens who are passionate about student welfare, they created the platform to enable students to upscale and fulfil their academic dreams.
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Mpower loans don’t require cosigners, collateral or credit history, and are available to students from 190+ countries, pursuing degrees in any field. All you have to do is just hit the button and you will be on the go.
Why Choose Mpower Financing Loan?
- Fixed interest rates with flexible loan amounts ($2,001 to $50,000 USD total) that can cover tuition, school supplies, and living expenses for future semesters or past due balances.
- Supports all majors and degrees. No requirement for a cosigner, collateral, or credit history.
- Enjoy interest-only payments while in school and during the 6-month post-graduation grace period.
- Earn up to 1.50% off your interest rate and build your U.S. credit history to bridge your way to future financing.
- Repay your loan online in any currency or location around the world, plus no prepayment penalties if you want to pay your loan off early.
Am I Eligible for an MPOWER Financing Loan?
- You could be eligible if you are:
- An undergraduate or graduate student within 2 years of graduating or about to begin a 2 or 1-year program.
- An international student, DACA recipient, a U.S. citizen, refugee or asylum-seeker.
- Admitted to or attending one of our 350 approved schools in the United States or Canada.
How does Mpower Financing online application work?
- Firstly, check your eligibility
- Complete the online application form
- You will receive a conditional offer decision immediately
- Upload your documents to the MPOWER dashboard
- Receive a final approval once we validate your uploaded documents. We will also provide a visa support letter if you need it.
- Relax while your school certifies your enrollment status. Once done, we disburse your funds directly to the school on their requested date.
Information regarding how much you can Apply for Mpower Financing Loan 2021
International Graduate Students
| Minimum Loan Amount | $2,001 |
| Maximum Loan Аmount | $25,000 per loan and a $ 50,000-lifetime limit |
| Fixed interest rate before discounts:– Automatic payment sign-up discount– 6 on-time payments discount with automatic payments– Discount for reporting proof of graduation and employment | 11.99% (12.94% APR)-0.50%-0.50%-0.50% |
| Fixed interest rate after discounts: | 10.49% (11.59% APR) |
| Term | Interest-only payments in school and for 6 months after graduation 10-year repayment of interest & principal starting 6 months after graduation |
| Prepayment penalty | None |
Other Considerations
| Visa support letter (to obtain I-20 from your school) | Free |
| U.S. credit history building | Free |
| Career Services | Free |
| Included Life Insurance | Not Required |
International Undergradaute Students
| Minimum Loan Amount | $2,001 |
| Maximum Loan Аmount | $25,000 per loan and a $ 50,000-lifetime limit |
| Fixed interest rate before discounts:– Automatic payment sign-up discount– 6 on-time payments discount with automatic payments– Discount for reporting proof of graduation and employment | 13.99% (14.98% APR)-0.50%-0.50%-0.50% |
| Fixed interest rate after discounts: | 12.49% (13.63% APR) |
| Term | Interest-only payments in school and for 6 months after graduation 10-year repayment of interest & principal starting 6 months after graduation |
| Prepayment penalty | None |
Other Considerations
| Visa support letter (to obtain I-20 from your school) | Free |
| U.S. credit history building | Free |
| Career Services | Free |
| Included Life Insurance | Not Required |
U.S. Citizens, Permanent Residents and DACA graduate students
| Minimum Loan Amount | $2,001 |
| Maximum Loan Аmount | $25,000 per loan and a $ 50,000-lifetime limit |
| Fixed interest rate before discounts:– Automatic payment sign-up discount– 6 on-time payments discount with automatic payments– Discount for reporting proof of graduation and employment | 7.99% (8.89% APR)-0.50%-0.50%-0.50% |
| Fixed interest rate after discounts: | 6.49% (7.52% APR) |
| Term | Interest-only payments in school and for 6 months after graduation 10-year repayment of interest & principal starting 6 months after graduation |
| Prepayment penalty | None |
Other Considerations
| Visa support letter (to obtain I-20 from your school) | Free |
| U.S. credit history building | Free |
| Career Services | Free |
| Included Life Insurance | Not Required |
U.S. Citizens, Permanent Residents and DACA undergraduate students
| Minimum Loan Amount | $2,001 |
| Maximum Loan Аmount | $25,000 per loan and a $ 50,000-lifetime limit |
| Fixed interest rate before discounts:– Automatic payment sign-up discount– 6 on-time payments discount with automatic payments– Discount for reporting proof of graduation and employment | 9.99% (10.91% APR)-0.50%-0.50%-0.50% |
| Fixed interest rate after discounts: | 8.49% (9.56% APR) |
| Term | Interest-only payments in school and for 6 months after graduation 10-year repayment of interest & principal starting 6 months after graduation |
| Prepayment penalty | None |
Other Considerations
| Visa support letter (to obtain I-20 from your school) | Free |
| U.S. credit history building | Free |
| Career Services | Free |
| Included Life Insurance | Not Required |
For more details regarding the Mpower Financing Loan 2021 Application kindly visit the official website to learn more and apply.
Visit https://www.mpowerfinancing.com/get-a-loan/
