MPOWER Financing, has raised its student loan limit from $50,000 to $100,000 (about ₹75 lakh), effective immediately. By raising its loan limit, MPOWER is ensuring that high promise students from India have greater access to education. MPOWER loans can be used for any education-related expense, including tuition, housing meals, books, and health insurance.
Manu Smadja, CEO of MPOWER Financing, said “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.
