MPOWER Financing Review 2025: The Best Student Loan Option for International Students

Best for International Students

4.6 _/5

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Private Student Loans

• No cosigner or collateral required
• Generous rate discount
• Unique visa support for international students

• Pricey origination fee
• Must make payments before graduation
• Limited repayment terms

Rates (APR)	Fixed rate starting at 11.41%
Loan amounts	$2,001 – $100,000
Repayment terms	10 years

Refinance Student LoansView Rates

Rates (APR)	Fixed rate starting at 11.77%
Loan amounts	$2,001 – $100,000
Repayment terms	10 years

MPOWER stands out as the best student loan option for international students. The company caters to those studying abroad in the United States during college and working abroad after graduation. 

You don’t need a cosigner to qualify—a standout feature that makes it a solid option for international students. You can also take advantage of a generous 0.25% rate discount. Additionally, the company is transparent about its terms and conditions. 

Some of the helpful features come at a cost, though. The origination fee is pricey, at 6.5%, and you must start making payments almost immediately. However, the extra expense might be worthwhile, as international students often have limited loan options.

The following MPOWER financing review can help you determine whether it’s the best lender for you.

Table of Contents

1. About MPOWER student loans
2. How does MPOWER student loan refinance work? 
3. What do MPOWER customers say?

About MPOWER student loans

MPOWER keeps it simple with one student loan option for undergraduate and graduate students. The rates, terms, fees, and loan amounts are the same for both types of students. 

For some borrowers, the simplicity of working with MPOWER is a benefit since you don’t need to research different types of loans. But the reality is that it’s often hard for international students to qualify for loans from U.S. lenders, especially without a cosigner, and MPOWER might be one of your only options. 

You can’t get a Parent PLUS or any federal loan through MPOWER. But you can refinance an existing loan, even if the lender is from a different country. 

MPOWER student loan rates and terms 

MPOWER’s interest rates start at 11.41% APR. When you set up automatic payments, you get a rate discount of 0.25%. 

Private student loan rates range from 3.45% to 16.24% APR. MPOWER’s median rate of 15.57% is higher than average. But here’s the truth: Most borrowers don’t choose MPOWER because of the company’s rates. 

MPOWER student loans cater to a specific borrower. It can be challenging to qualify for loans while studying abroad as an international student. Even though the rates are higher than expected, the accessibility of the loans might make it worth it. 

We’ve broken down the terms for MPOWER loans in the table below.

Term	Detail
Rates (APR)	Fixed rate starting at 11.41%
Loan amounts	$2,001 – $100,000
Repayment period	10 years
Fees	6.5% origination fee

Eligibility requirements 

MPOWER is transparent about eligibility requirements, and information is easy to find in the Support Center. Unlike other lenders, MPOWER approves applications from international students without a cosigner. You can apply with one, but it’s not a requirement. Either way, you still need to provide financial documentation that proves you can repay the loan, including bank statements, retirement funds, or investments. 

Most undergraduate and graduate programs qualify for funding from MPOWER if you graduate within two years. 

But not every type of program is eligible. For example, you can’t qualify for a loan if you attend the following programs:

• Associate degree
• Certificate
• License
• English Language program
• Boot camp

Let’s take a look at the eligibility requirements for MPOWER student loans. 

Requirement	Details
Citizenship	International student, DACA recipient, U.S. citizen, refugee, or asylum-seeker
State of residence	Available in all 50 states
Minimum age	18 years old
Enrollment status	Attend an eligible program at one 500+ schools in the U.S. or Canada
Minimum credit score	No minimum score requirement
Minimum income	No minimum income requirement

How does repayment work? 

MPOWER loans have a 10-year repayment term and one repayment option. You don’t have a choice in how or when you repay the loan. The first interest-only payment is due one month after your school receives the funds. 

Most lenders allow borrowers to defer payments until after graduation, but MPOWER doesn’t. Because of that, you need to budget for the cost while you’re a student. 

Payments will increase and switch to interest plus principal six months after graduation. It’s the company’s version of a grace period, but you still need to make interest-only payments during that time. 

You won’t owe a prepayment penalty if you pay off the balance early.

Terms	Details
Repayment options	1 repayment option
Repayment terms	10 years
Grace period	Interest-only payments start 1 month after you receive funds, and full payments start 6 months after graduation
Prepayment penalty	No

How do MPOWER student loans compare to alternatives? 

MPOWER is one of the strongest options for international students without a U.S. cosigner. But if you need more flexibility, consider another student loan company. 

For example, Prodigy Finance offers repayment terms between seven and 20 years. Plus, you don’t need to make any payments until six months after graduation. However, rates are variable, and it’s not a traditional lender; Prodigy matches you with an investor to fund your loan.

College Ave is another popular option for international students. It offers a fixed or variable rate, no application fees, and four repayment options. The only downside is that it requires international students to have a U.S. citizen or permanent resident as a cosigner.

Earnest stands out with a unique skip-a-payment option you can use every 12 months. Low rates and a nine-month grace period also help this lender stand out. But once again, you need a U.S. citizen cosigner, making it inaccessible for some international students. 

Read More

Student Loans for International Students

How do you get an MPOWER student loan? 

MPOWER simplifies the student loan application process. The application is digital, and it only takes two minutes to find out whether you’re eligible for a loan. Once MPOWER confirms that your home country, school, and program qualify for funding, you must provide personal information like your address and verify your identity. The entire process takes about 20 minutes. 

Here’s what you can expect when applying for an MPOWER loan. 

1. Check eligibility: Answer a few questions, including your name, home country, and where you plan to study in the U.S. or Canada.
2. Review offer: The next step is to answer more in-depth questions about your eligibility and provide documentation before finalizing the loan. 

3. Sign for the loan: The final step is accepting the loan offer. If you have any questions throughout the process, you can chat with an MPOWER loan expert. 

How does MPOWER student loan refinance work? 

MPOWER is a solid choice for international workers who reside in the U.S. and want to refinance a student loan from their home country. Once you refinance with MPOWER, you can use the money to pay off your existing student loan. 

As a bonus, you can start building credit in the United States and release your cosigner from financial responsibility so they can focus on other goals like retirement. 

The rates and terms are comparable to other lenders—and less competitive than some—but the perk of working with MPOWER is switching your current loan to the American financial system.  

Term	Details
Rates (APR)	Starting at 11.77%
Loan amounts	$2,001 – $100,000
Repayment terms	10 years
Cosigner release?	Yes

Who is eligible to refinance student loans with MPOWER? 

You must work full-time in the United States for at least three months and have a valid work visa to qualify for refinancing with MPOWER. Here’s more eligibility information. 

Requirement	Details
Min. credit score	No minimum score requirement
Proof of income	Pay stubs from full-time employment and living cost documents
Citizenship	Australia, Austria, Brazil, Dominican Republic, Germany, India, Kenya, South Korea, Mexico, Nigeria, Philippines, Switzerland, Spain, or the U.K.
State of residence	Available in all 50 states
Min. age	18 years old
Employment status	Must live and work in the United States for 3 months and have a visa to work in the U.S. for at least 2 years from application

How does MPOWER student loan refinance compare to alternatives? 

MPOWER is a standout option for U.S. visa holders who need to refinance loans from their home country. The company doesn’t require a U.S. cosigner, making it a solid choice for borrowers who don’t have American family members. But you have more refinancing options if you have someone who can cosign. 

The following lenders refinance loans for international students, but you must have a U.S. cosigner.

• SoFi: Once you refinance with SoFi, you can take advantage of its unique features, such as career services and job advice. You also won’t pay any fees, and rates are competitive.
• Credible: As an online marketplace, Credible makes it easy to search for the best lender and compare multiple offers at the same time. You can check rates without affecting your credit score, but it’s time-consuming; you have to check each option before moving forward.
• Citizens Bank: This lender offers some of the most flexibility—refinancing for up to $500,000, various repayment terms, and low interest rates. Citizens Bank also focuses on your cosigner’s creditworthiness, making it a viable option if you don’t have any credit history in the United States.  

How to refinance your student loans with MPOWER 

Applying for refinance is similar to applying for a loan. You must prove that you meet the eligibility requirements, including a valid visa and full-time employment in the United States. 

1. Check eligibility: MPOWER confirms your eligibility with a quick online form. Provide information about your loan and personal details, such as contact information. 
2. Complete application: During this step, you give more information about your employment, finances, and location. 
3. Review offer: MPOWER provides an initial offer, including loan amount, rates, and terms. 

What do MPOWER customers say?

MPOWER caters to international borrowers worldwide and has offices in Washington, D.C., and India. Reviews on some sites, including the Better Business Bureau (BBB) are limited, but you can find thousands of reviews on Trustpilot. 

Reviewers consistently mention that MPOWER was their only option as international students without a cosigner. Borrowers also report that the application process is easy, and customer service representatives are attentive. 

Platform	Rating	Number of reviews
Trustpilot	4.7/5	3,389
BBB	1/5	1

Does MPOWER have a customer service team? 

MPOWER’s customer service team is thorough, friendly, and easy to reach. Here’s how to get in touch with the company. 

• Phone: You can call 1-202-417-3800 in the United States or 1-647-503-4607 in Canada. Representatives are available Monday to Friday from 2 a.m. to 4:30 p.m. Eastern.
• Email: You can send an email to [email protected].  
• Virtual assistant: MPOWER’s virtual assistant, Mira, is available 24/7 and can help you find answers online. You can also create a support ticket request via chat. 

How we rated MPOWER

We designed LendEDU’s editorial rating system to help readers find companies that offer the best student loans. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared MPOWER to several student loan lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating and best-for designation, recapped below.