Mpower Financing Education Loan
Interest Rate
Begins from 12.99%
Processing Fees
5% of the loan amount
Financing
100%
Our Education Loans are trusted by
10 Lakh
Students
10+
Countries
5000+
Institutes
How to Get Approved for a Mpower Loan Education Loan?
Check Eligibility Criteria
The first and most important step is to check your eligibility before applying for an Mpower Financing education loan. Use an online tool like Qck Loans one to check your eligibility.
Speak to Loan Experts
Research about the loan and reach out to the lender. A loan counsellor will be allocated to you. Talk to the loan expert, who will guide you on how to proceed further.
Apply Online
After consulting a loan counsellor, it’s time to apply for the loan. Fill out the application form, attach the documents, review, and submit them.
Get Approved
Once your application and documents are thoroughly evaluated, you will get approved for the loan. You will get the loan amount in your bank account.
Mpower Education Loan Information
Perks
Details
Loan Amount
Up to USD 100,000
Interest Rate
Starting from 9.99% per annum
Processing Charges
5% of the loan amount
Margin
Nil
Processing Time
Up to 7 working days
Repayment Tenure
20 years
Part Payment Option
Allowed
Moratorium Tenure
Course duration + 6 months
Eligibility Criteria for Mpower Loan Education Loan
- The applicant must be a graduate or undergraduate student within 2 years of graduating or about to commence a 1 or 2 year course.
- The student must be a citizen of India aspiring to study abroad.
- The candidate must be admitted to or attending one of the 500+ approved universities in the US or Canada.
Repayment Terms of Mpower Loan Education Loan
Financial Aspects of Mpower Loan Education Loan
- After your course completion and getting employed, you need to start repaying your education loan.
- Your parents’ or guardians’ income is determined for the Mpower financing education loan. This is to analyse your and your co-applicant's credit responsibility and repayment capacity.
Academic Qualifications for Mpower Loan Education Loan
- You should be a graduate or undergraduate student and preparing for a two- year course program
- You also need to qualify for ILETS, TOFL, and entrance exams.
- Pursue a degree in a prestigious university in the US or Canada
Our free tools will help you out
EMI Calculator
EMI Calculator
Documents Required for Mpower Loan Education Loan
Listed below are the documents required to apply for an education loan from Mpower
- Proof of Identity: PAN, Passport, Driver’s License, Passport, or Voter ID Card.
- Education loan application form.
- Resume/CV: Must include the education and employment history of the student
- Secondary Photograph ID: Includes any government-issued identification
- Proof of Address: Copies of utility bills such as telephone, electricity, water, piped gas, driving license, ration card, or Aadhaar card.
- International students need to prove their language proficiency with test scores (IELTS, TOFL).
- Letter of Admission
- GRE/GMAT test scores for graduate studies
- Previous academic records, matriculation 10+2, and so on
- Statement of Purpose
- 1 year loan account statement
- A valid passport and photo identity from the home country and US student visa
- Financial Summary from the selected educational institution: A list of the fee summary and estimated cost from the target university
Reasons to Choose Education Loans
Easy Repayment
Education loans offer easy repayment. You can choose to repay the simple interest during your course tenure, but that’s optional. You repay the full loan after completing your studies and getting employed. The moratorium period gives you time to find a job and get money for repayment.
Low Interest Rates
Education loans have low rates of interest. Mpower education loan interest rates are low, which helps you save money on interest.
Less Financial Burden
Since education loans cover the whole cost of education as well as living expenses, there is less financial burden on the student and the family. Student loans cover tuition fees, health expenses, grocery expenses, rent, the cost of stationery supplies, books, study materials, and so on, managing things abroad becomes easy.
Fosters Good Financial Habits
Education loans instill good financial habits among students. Right after completing the course, they use the grace period to search for jobs so that the loan is repaid early. As a result, students understand finances better and maintain good habits.
Why Select Mpower Loan Education Loan?
Mpower Financing offers education loans without any security or co-borrower at affordable rates of interest. It provides study loans for universities located in the US or Canada. Many students dream of pursuing higher education in these countries. So, an Mpower financing education loan is a great choice for achieving academic dreams in the US and Canada.
An education loan from Mpower Finance does not require the CIBIL score of the co-applicant. The loan is granted to students based on their profile and their job prospects after successful course completion.
With fixed Mpower education loan interest rates, your monthly payments will always be low during the loan tenure, ensuring transparent and simple loan terms.
Mpower Loan Education Loan Application Process Via Qck Loans
Step 2
- Check Your Application
Step 3
- Assessment of Your Application
Step 4
- Get the Loan
Akash HD
TU Munich, Germany
Kishan
UNSW, Australia
“Heartfelt thanks to Qck Loans for facilitating a Rs 55,00,000 non-collateral loan for my studies at UNSW, Australia. Their guidance in covering tuition and living expenses was invaluable. Qck Loans made my dream of studying abroad achievable and stress-free with their expert Education Loans to Study Abroad. Their dedication has been a cornerstone in my educational journey.”
Ananya
EPITA, France
“I am deeply grateful to Qck Loans for their invaluable support in securing a 20,00,000 loan for my studies at EPITA, France. Their guidance and efficient processing made what seemed a daunting task, both manageable and straightforward. Their team’s dedication and understanding of my educational goals were instrumental in making my dream a reality. Thanks to Qck Loans and their expertise in providing quick Education Loans to Study Abroad, I am now poised to embark on a transformative educational journey.”
Varuna
University of Twente, Netherlands
Sahana
Arizona State University, USA
I am very grateful to Qck Loans for having approved and assisting me in getting my 60,00,000 collateral education loan to study abroad at Arizona State University, USA. With exceptional services and seamless processing helped me to allocate the amount easily amongst my expenses. It is many girls’ wish to live the American dream, and it was possible by partnering with Qck Loans made it possible for me to get a quick loan for my studies abroad.
Our Lending partners
Everything you need to know
Mpower Finance offers education loans to educational institutes in the US and Canada. Therefore, you cannot get a loan to study in other countries.
The interest rates on study loans offered by Mpower begin at 9.99% with loan amounts up to 100,000 USD.
The origination fee in Mpower study loans is the processing fee that most lenders ask. Here the only difference is that the fee is adjusted in the loan amount and is levied on every disbursal.