Graduate Student Loan from MPOWER

Updated November 15, 2021
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Check your student loan rates

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Fixed APR
7.49 - 8.39%
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Variable APR
N/A%
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Amount
up to $100,000
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Grace period
6
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Degree
Graduate
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Co-signer required
No
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Options

  • Degree:
    Graduate
  • Lender:
    MPOWER Financing
  • Bank:
    Bank of Lake Mills
  • Credit Level:
    Poor (300-579)
  • When funds are available:
    2-10 weeks.

Fees

  • Origination fee
    5%
  • Late fee
    5%

Pros & Cons

Pros:
  • No credit history or co-signer
  • Up to 1.50% of available rate discounts
Cons:
  • High origination fee

Variable rates

Fixed Rates

Rates
7.49 - 8.39%
Term
36 - 120 months
Loan Amount
$2,001 - $100,000
Autopay
0.5%*
* In case of using Autopay service your rate is reduced by 0.5%
View all Rates & Fees

Requirements

  • Requirements Description
    • You must currently be admitted to or enrolled in a school in the U.S. or Canada that MPOWER supports.
    • You must be within two years of graduating from your program. For example: if your anticipated graduation date is May 2020, then your program must have started in May 2018 or later.
    • You can apply as far as 12 months prior to your program’s start date.
    • You must reside in the country of your program (the U.S. or Canada) while you’re in school.
    • Your program must be degree-seeking.

Description

  • MPOWER Financing offers private student loans to undergraduate and graduate students with terms up to 10 years. You can borrow with a fixed interest rate of 7.99% (8.89% APR).

    All borrowers can qualify for discounts of up to 1.5%. If you qualify for all these discounts, your rate will be 6.49% (7.52% APR).