The support you deserve
Funding based on your future potential
Inflation-proof, fixed interest rates that never change – ever
No cosigner required
Funding that accelerates your career
With MPOWER Financing, count on low total-loan costs, with flexibility to pay off early, penalty free.
Experience independence with our trusted support
We've supported over 25,000 students in achieving their ongoing career goals. At MPOWER, your success is our priority.
No cosigner
required
Competitive interest rates starting as low as
9.99%*
(9.99% APR)
Low overall cost
for your loan
Loans ranging
from $2,001 to
$100,000
Fixed interest rates
for the life of the loan
Maximize your ROI with MPOWER’s support
-
- Quality is key. We’re proud to have a 4.8 rating on Trustpilot from over 4,000 student ratings.
- We’ve supported 25,000+ students at 400+ colleges and universities in the U.S.
85%
of our students are STEM and business focused.
93%
are graduate students studying for a master’s degree.
Who’s eligible for funding in the U.S.?
You could be eligible for an MPOWER student loan if you:
-
- Are a U.S. graduate student about to begin a one-year or two and a half year program or within two years of graduating.
- Are admitted to or attending one of our 400+ eligible schools in the U.S.
- Are studying through a full-time, part-time, online or hybrid program.
- Are pursuing a master’s degree or postgraduate studies in fields like MBA, STEM or medicine (including nursing and physician assistant programs).
- Have a minimum credit score of 600 or no credit score
Are pursuing a master’s degree or postgraduate studies in fields like MBA, STEM or medicine (including nursing and physician assistant).
Your success is our top priority
Join thousands of students in a variety of STEM and business programs like medicine, technology and analytics, who have trusted us since 2014. We offer more than funding – we empower your independence for a thriving career.
Find your interest rates and terms
Loan terms
| Fixed Interest rates | MPOWER’s fixed interest rates are as low as 9.99% (9.99% APR). This rate includes a 0.25% discount for automatic recurring payments. |
| Interest rate discount | 0.25% discount with auto pay |
| Interest rate type | Fixed – This means your rate won’t change and your payment will remain the same even in a rising interest rate environment. |
| Term | 10-year repayment |
| In-school payment | Interest-only payments while in school and for six months after graduation.
Note: The interest-only period is capped to a maximum of 30 months from the date of disbursement. |
| Prepayment penalty | None |
Other considerations
| Building U.S. credit history | Timely repayment of your MPOWER student loan builds credit history, which can make it easier to take out a loan, get a credit card or rent an apartment in the future. |
| Collateral or cosigner | Never required |
Your questions, answered
Our most common funding-related questions and answers.
U.S. citizens are eligible for federal student loans from the U.S. Department of Education, as well as private student loans from lenders like MPOWER Financing. Some private lenders require you to meet credit and income requirements or apply with a cosigner, such as a parent. MPOWER offers no-cosigner student loans that give you the independence to fund your education on your own.
As a U.S. student, it’s generally a good idea to take out federal student loans before borrowing privately. You can access federal student loans by submitting the Free Application for Federal Student Aid (FAFSA). If you’ve hit your borrowing limits and need more funding, you can apply for a private student loan by submitting a loan application online. You’ll provide your personal and academic information and upload required documents, like your ID and proof of enrollment in an eligible university.
MPOWER provides funding for students at more than 400 schools across the U.S. View our complete school list or check your loan eligibility to see if your school is one of them.
MPOWER student loans can be used for education-related expenses, including tuition, books, meal plans, housing and health insurance at most schools in the U.S. We suggest reaching out to your school with any questions you have about how you can use your student loan funds.
You can apply for a loan up to 12 months before you need the funds for school.
Here’s the general application process to get a loan with MPOWER:
-
- Check your eligibility: Make sure your school and program are eligible for our student loans in the United States.
- Fill out a loan application: Fill out and submit the application with a valid, unexpired photo ID.
- Review your conditional offer: MPOWER will provide a conditional offer instantly based on your loan application.
- Upload your documents: If you receive a conditional offer from us, your next step is to upload validating
- Documents to confirm your application information.
- Review your final loan offer: MPOWER will issue you a final loan offer once we have verified all your documents.
- Wait for school certification: After approving your loan, MPOWER will submit your application to your school for certification (the timeline is dependent on your school).
Receive your funds: After your school certifies your loan amount, MPOWER will disburse the funds to your school’s financial aid office according to their disbursement schedule. The office will apply the funds to tuition and fees before sending any remaining amount to you for living and other education-related expenses.
Here’s a helpful guideline: Try not to borrow more than the salary you anticipate earning after you graduate. Our loan application can also help you determine how much money to request. You can ask for up to $100,000 per application, with no more than $50,000 allocated per term.
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.
2026 © MPOWER Financing, Public Benefit Corporation NMLS ID #1233542
U.S. office
1101 Connecticut Ave. NW, Suite 900, Washington, D.C. 20036
