MPOWER Financing Raises Loan Limit for International Students to $100,000
Student Feedback Leads to Increased Financial Support at Over 350 Universities in the U.S. and Canada
Washington DC, October 26, 2021: MPOWER Financing, a mission-driven fintech firm and the leading provider of education loans to high-promise international and DACA students, is raising its student loan limit from $50,000 to $100,000, effective immediately.
By raising its loan limit, MPOWER is ensuring that high promise students from around the world have greater access to education. Students studying in Canada can use our loans for tuition and students studying in the U.S. can use an MPOWER loan for any education-related expense, including tuition, housing meals, books, and health insurance.
“As a mission-driven company, we consistently seek to ensure that we are serving our student population,” said Manu Smadja, CEO of MPOWER Financing. “We received an influx of messages from our students indicating that more financial support was needed. We listened. Following our capital infusion this summer, we’re pleased that we can now offer more monetary resources to make obtaining an education in the U.S. and Canada more attainable.”
MPOWER’s loans are collateral-free and cosigner-free, and students benefit from complimentary credit-building, immigration guidance, and job placement assistance through MPOWER’s Path2Success program. As a mission-driven organization, MPOWER is committed to making loans that are financially sustainable for students and recommends that the total amount borrowed for studies be less than the salary one can reasonably expect to earn following the first year after graduation.
About MPOWER Financing:
MPOWER Financing, headquartered in Washington, D.C. and with offices worldwide, is a mission-driven fintech company and the leading provider of global education loans that do not require a cosigner. It is the only student lender worldwide that uses a proprietary algorithm to analyze overseas and domestic credit data and future earning potential to serve high-promise international and DACA students. MPOWER works with over 350 top universities across the U.S. and Canada to provide financing to students from 200+ countries. The MPOWER team, which consists heavily of former international students, helps build students’ credit histories and provides them with personal financial education and career support to prepare for life after school. MPOWER was named one of the best places to work, one of the best tech workplaces for diversity, and one of American Banker’s top fintech firms to work for four years in a row. The team is backed by Tilden Park Capital Management, King Street Capital Management, ETS Strategic Capital, Drakes Landing Associates, Pennington Alternative Income Management, Zephyr Peacock, Breega, Potencia Ventures, Goal Solutions, Gray Matters Capital, Cometa, AI8, DreamIt, 1776, Village Capital, Fresco, K Street, and University Ventures.
