MPower International Student Loans, Apply For No-Cosigner Student Loans To Fund Your Education In The USA and Canada

By Mandy Last updated Mar 10, 2022

MPower International Student Loans, Apply For No-Cosigner Student Loans.

To Fund Your Education In The USA and Canada.

If you are among the ones that have the zeal for education or you are already in school but due to lack of financial incapability, you are unable to get it.

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About empower

Mpower financing is of a public benefit corporation based in Washington. With the sole aim of giving financial aid to international student education.

the company has a different head office in many countries such as New York and Bangalore, India. etc.

The company was founded by Manu Smadja and Michael Davis in 2014, both of whom attended INSEAD Paris where they met.

One of the special things about the company is that it can give loans to you even when you do not have a co-signer or collateral.

many people prefer to use this instead of a bank. Because before a bank gives you money, the person must have collateral for it.

but the company gives it student loans that cannot typically qualify for a loan in the bank.

most of the time they lend only to students who is within two years from graduation.

And use a proprietary credit model that considers borrowers’ academic success and career path.

Most of the students who benefit from the offer are mostly international students. or

A domestic student whose parents do have the credit history to co-sign.

as well as recipients of DACA.

Know more information below

The company has the ability to lend over 200 nationalities including those in America.

The service of the company is available to about 350 universities and colleges. And most of the companies borrowers are in graduate school.

Ten years fixed-rate loans and can only charge an administrative fee of 5%, which can be added to the total loan amount.

the funds of the company can be used for tuition fees, housing fees, meals and even health h insurances, and some of the university’s payments.

The company integrated with the US credit Bureau which helps international students built a US credit history.

At the same time integrate with global collection agencies.

so that as an international student you can make payment through your phone, or some of the local banks.

One of the most important aspects of the loan is that an international student will receive a letter from the company, that he or she can use to apply for US VISA.

At the same time, the loan may not incur prepayment penalties.

The applicant will have the benefit of the companies program known as personal career coaching in the path2success program.

Mpower international student loans requirements

you have to understand that it doesn’t take much to apply for the loan. The following are the requirements to apply for the loan.

Before giving the company gives out a loan they consider some factors. Which will in the future help them get repayment in case the debtor or refuse to make align with the agreement.

The company also reviews credit history, but credit scores are not a factor in its decision since most international students do not have U.S. credit scores.

Citizenship: International students must be from one of the 180 countries MPOWER works with. DACA students do not need a Social Security number to qualify.

Location: Available to international borrowers attending eligible colleges in all 50 states, Washington, D.C., and Puerto Rico.

Must be enrolled half-time or more: Yes.

Types of schools served: Borrowers must attend a four-year Title IV school that MPOWER works with.

Percentage of borrowers who have a co-signer: No co-signer required

Minimum credit score: Credit score not considered.

Minimum income: Did not disclose.

A typical credit score of approved borrowers or co-signers: Credit not required.

Typical income of approved borrowers: Did not disclose.

Maximum debt-to-income ratio: Did not disclose.

Can qualify if you’ve filed for bankruptcy: Bankruptcy history not considered.

PAYMENT OPTION

You make an IN-SCHOOL PAYMENT in this all the Mpower borrowers are required to make interest-only payments starting 45 days after loan funds have been disbursed.

You can make a POST SCHOOL PAYMENT in this all

the loans have a 10-year repayment term,

the company can only give the grace period of six months the interest payment is still required.

You can also use in-school deferments. Students enrolled at least half-time are eligible for up to 24 months of deferment while continuing to make interest-only payments.

you can use Military deferment, Active-duty service members can defer payments for 24 months, in 12-month increments.

Hardship forbearance, the hardship forbearance may be available if you have a late payment or are about to miss a payment. Borrowers have a 24-month limit on forbearance, available in six-month increments. During forbearance, interest will continue to accrue on the loan.

Natural disaster forbearance: Available in three-month increments for borrowers affected by natural disasters, as confirmed by the Federal Emergency Management Agency. Interest still accrues.

No form of co-signer is required at the same death or disability discharges are available. There will be no loan discharge if the if co-signer dies or becomes disabled.

The customer service

Benefit Mpower loans

as an international student that is part of the loan you will have the following benefits.

1 Career coaching staff available, you will have the benefit of the coaching staff, if you need any help you get from one of the companies career coaching staff.

Visa process assistance for preapproved borrowers.
Online tutoring: Borrowers can access Study Starter, which offers up to 120 minutes of live, online tutoring or step-by-step textbook problem solutions from Chegg.
Credit score tracking. Free quarterly FICO credit scores.
Autopay interest discount: 0.50%.
On-time payment discount: 0.50% discount for six consecutive on-time payments.
Proof of graduation and employment discount: 0.50%.

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.

Earn up to 1.50% off your interest rate and build your U.S. credit history to bridge your way to future financing

To apply for the opportunity follow this LINK