I have pinged
MPOWER and here is what I heard back:
1.) Is MPOWER processing loans now?Yes,
MPOWER is accepting loan applications for past, current, and future semesters. This means that students accepted into business programs in December should apply and secure their full program funding from
MPOWER.
2.) Is there enough funding or any issues that should be anticipated with fundingWe have sufficient funding nor anticipate any issues with our funding sources. We have always and will continue to honor all funding commitments and approvals we make to our students. It is a point of pride that we are a social benefit corporation made up predominantly of international student graduates. Our mission is to remove the financial barriers to make higher education accessible and borderless. Practically, this means we evaluate students for financing based on their future potential which means we never require collateral, cosigner, or a credit history.
3.) What markets/schools are approved?We support students at a growing list of over 350 universities in the US and Canada. Full list available here:
https://www.mpowerfinancing.com/get-a-l ... e-support/4.) Can MPOWER be used a second loan in addition to local bank or a global company such as Prodigy?Yes, getting an
MPOWER student loan does not preclude a student from accessing additional financing. That means they can use
MPOWER in tandem with other financing sources. We offer competitive, fixed interest rates, visa and career support, and students are approved for the full program funding at time of final decision (i.e., an accepted MBA student could find out today how much
MPOWER funding they qualify for and secure financing for the next 2 years of their MBA program). Because of these benefits, we often find students choose
MPOWER as their preferred lender for those who want to study and stay in North America after graduating.
5.) How long does the process take? Is it 5-6 days as mentioned on the site?It takes 30 seconds to check your eligibility, 30 minutes to submit an application, and less than 3 days to receive your conditional offer. A final loan approval depends on how fast students verify their application information with documentation. Altogether, yes 5-6 days or sooner as mentioned on our website, particularly if a student needs financing immediately (i.e., for a past balance or current semester).
_________________
they didn’t quite say when they will resume landing but they said they would let me know as soon as that happens.
Switch to Desktop Site