MPOWER Financing is recognized for its unique approach to providing international study loans for students in the US and Canada, which sets it apart from traditional lenders.
Here are several reasons why MPOWER is considered among the best options for international students:
1. No Cosigner Required: Traditionally, international students looking to secure loans in the US and Canada need a cosigner who is a citizen or permanent resident of the country. MPOWER eliminates this requirement, making it significantly easier for international students without local financial support to access funding.
2. No Collateral Needed: Unlike many other lenders that require collateral for loan approval, MPOWER does not require any collateral. This is particularly beneficial for international students who may not have significant assets in their home country or the US/Canada.
3. Credit History Not a Barrier: MPOWER focuses on the future potential of students rather than their past credit history. This is crucial for international students who may not have a credit history in the US or Canada.
4. Global Citizenship: MPOWER supports students from over 190 countries, emphasizing its commitment to helping international students regardless of their nationality. This broad eligibility criteria make it an accessible option for many.
5. Career Support and Guidance: Beyond financial support, MPOWER offers career strategy services, helping students with resume building, interview preparation, and networking opportunities. This holistic approach supports students' success beyond just funding their education.
6. Interest Rate Reductions: MPOWER incentivizes students with potential interest rate reductions for consistent on-time payments, setting up automatic payments, and proving graduation and employment. These incentives can significantly reduce the total cost of the loan over time.
7. Supports a Wide Range of Schools and Programs: MPOWER provides loans to students attending a wide range of accredited universities and colleges across the US and Canada, covering both undergraduate and graduate programs. This wide coverage ensures that many students can find their institution and program eligible for an MPOWER loan.
8. Simple and Transparent Process: The application process for an MPOWER loan is designed to be straightforward and transparent, with clear terms and conditions.