Funds to achieve your study abroad dreams
Our loans don’t require a cosigner, collateral or credit history - because we believe in your future potential.
Funds to achieve your study abroad dreams
Our loans don’t require a cosigner, collateral or credit history - because we believe in your future potential.
A loan based on
your future earnings
An international student loan with us is an easy and affordable way to fund your education on your own. Our no cosigner, no collateral student loans never require a credit history.
Loan payment calculator
Use our tool to estimate your monthly student loan payments.
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Who’s eligible for funding?
You could be eligible for an MPOWER student loan if you’re:
Our loan terms
MPOWER student loans provide benefits beyond funding for every type of student:
Terms
| Minimum loan amount | US$2,001 |
| Maximum loan amount | US$50,000 per loan and a US$100,000 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 |
Terms
| Minimum loan amount | US$2,001 |
| Maximum loan amount | US$50,000 per loan and a US$100,000 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 |
Terms
| Minimum loan amount | US$2,001 |
| Maximum loan amount | US$50,000 per loan and a US$100,000 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 |
Terms
| Minimum loan amount | US$2,001 |
| Maximum loan amount | US$50,000 per loan and a US$100,000 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 |
What our students say
Our most common funding-related questions and answers.
MPOWER supports 400+ schools across the U.S. and Canada. View the complete school list or check your loan eligibility to see if the school you are admitted to or enrolled in is one of them.
MPOWER loans can be used for university-related expenses, including but not limited to tuition, books, meal plans, housing, and health insurance at most schools when studying in the U.S. We suggest reaching out to your school with any concerns about how your funds may be allocated.
You can apply for a loan a maximum of 12 months prior to when you need the money for school. Check out this video for more tips.
Here’s a helpful tip: try not to request more than your anticipated starting salary after graduation. If you’re still unsure of the amount you’ll need, our loan application can help you better understand your financial plan and how much money to request. You can request a maximum of US$50,000 per application and US$100,000 maximum (overall). Regardless of the amount you decide to request, we always tell students if they qualify for more or less than their requested amount.
MPOWER can issue visa support letters at no cost to assist our applicants, upon final credit approval.
Please select the option below that best describes you:
a) International Student
b) DACA Student
c) Domestic Student
How to read the document checklist: The document checklist represents the documents that may be needed from you during the application process. In this checklist, you will see “Included” and “Not applicable” columns.
Disclaimer: Not all the documents in this checklist will be applicable to your situation. If you are unclear about some of the documents mentioned in our checklist, please reach out to us.
DISCLAIMER – Subject to credit approval, loans are made by Bank of Lake Mills or MPOWER Financing, PBC. Bank of Lake Mills does not have an ownership interest in MPOWER Financing. Neither MPOWER Financing nor Bank of Lake Mills is affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. None of the information contained in this website constitutes a recommendation, solicitation or offer by MPOWER Financing or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.
2024 © MPOWER Financing, Public Benefit Corporation NMLS ID #1233542
 U.S. office |
 India office |
| 1101 Connecticut Ave. NW Suite 900, Washington, DC 20036 | The Cube at Karle Town Center, 9th Floor, 100 Ft, Nada Prabhu Kempe GowdaMain Road, Next to Nagavara, Bengaluru, Karnataka 560045, India |