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All about fixed-rate student loans

Starting your higher education journey is a thrilling adventure filled with new experiences, opportunities  and friendships – especially for international students. But like many life decisions, the financial aspects can sometimes seem overwhelming. Understanding the details of education loan interest rates is crucial so you don’t encounter surprises when it’s time to start making monthly payments. Educating yourself on how student loans work gives you the peace of mind to focus on your education and future.

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Understanding student loan interest rates and fixed-rate student loans

Student loans are typically categorized into two types: variable-rate loans and fixed-rate loans. As the name suggests, variable-rate loans have interest rates that fluctuate based on market conditions. Because of this, your monthly payment can change month to month. On the other hand, fixed-rate student loans offer a stable interest rate that remains unchanged for the entire loan duration.

This stability is particularly valuable for international students studying in the U.S. or Canada, as it offers consistent and predictable monthly payments. You don’t have to worry about fluctuating interest rates or changing monthly payments – your budgeting process becomes simpler and more efficient.

The significance of fixed-rate student loans

When you’re considering the cost of student loans, the interest rate is a key factor that determines the total amount you’ll pay over the life of the loan. A lower interest rate means you’ll pay less over time, while a higher rate means you’ll repay more. This is why fixed-rate student loans can be so valuable.

The advantage of a fixed-rate student loan is certainty. You know exactly what your payments will be every month, and you can plan your budget accordingly. There are no surprises and no sudden changes due to market fluctuations. You have the peace of mind that comes with stability and predictability, which is particularly important for international loans for students dealing with the challenges of a new country and currency.

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The MPOWER approach to fixed-rate student loans

MPOWER Financing acknowledges the distinct hurdles international and DACA students encounter when pursuing financial aid for their education. The conventional student loan avenues typically require collateral or a cosigner, assets that may not be accessible to international students.

Here’s where MPOWER stands out: There’s no need for a cosigner or collateral. Additionally, MPOWER operates with a mission-driven approach as a global education loan provider. The international student loans offered have fixed interest rates, ensuring the rate remains stable regardless of market interest rate fluctuations. This feature aids in financial planning for international students adjusting to budget management in a new country.

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Why choose MPOWER?

Choosing MPOWER Financing for international education loan needs goes beyond just lending – it’s about forging a partnership on the educational journey. The goal is to lower the financial barriers to international education, assisting many students in achieving their dream of studying abroad, and guiding them towards financial independence. The approach here is to extend loans based on a student’s future potential, recognizing the distinct hurdles international students encounter when financing their education. They deserve a partner who will help navigate through these challenges to access the education and opportunities essential for fulfilling their aspirations.

At MPOWER, the support extends beyond loans, offering career strategy services to help students and alumni navigate their career growth. Unlike many other private student loan lenders, there’s no need for a cosigner or collateral for international student loans.

The goal is to empower students to reach their academic and career objectives.

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FAQs

What is a fixed-rate student loan?

A fixed-rate student loan is a loan with an interest rate that remains the same throughout the life of the loan. It’s inflation proof. This means your monthly payment amount will remain the same for the duration of the loan, providing a level of predictability and stability in your budgeting.

Why are fixed-rate student loans important for international students?

Fixed-rate student loans are particularly important for international students because they provide certainty in repayment. This makes it easier for these students to plan their finances, especially when they’re budgeting in a new currency and country.

How does MPOWER Financing support international and DACA students?

MPOWER Financing supports international and DACA students by providing education loans without requiring a cosigner. MPOWER also offers no-collateral loans. We also offer career strategy services, scholarships  and financial education to empower these students and support their academic and career goals.

What makes MPOWER Financing different from other lenders?

MPOWER Financing stands out from other lenders because we’re not just a lender, but a partner in your educational journey. We offer a holistic approach to student financing, including career strategy services, scholarships and financial education. Our international loans for students don’t require a cosigner or collateral, which sets us apart from many other private student loan lenders.
Embarking on your educational journey is a significant milestone in your life, and we understand the importance of having a reliable and supportive partner during this journey. At MPOWER, we’re committed to empowering you to achieve your academic and career dreams.

With MPOWER Financing fixed-rate student loans, you can navigate the financial aspects of your education with confidence and focus on what truly matters – your growth and success.

*Rates as low as 9.99% (10.89% APR) available only for the fall 2025 semester and you must submit your application by December 31, 2024. This interest rate and APR includes a 0.25% discount for automatic recurring payments and a 0.75% discount from our limited-time early planner promotion.

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.

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