Private Student Loans
- No cosigner or collateral required
- Generous rate discount
- Unique visa support for international students
- Pricey origination fee
- Must make payments before graduation
- Limited repayment terms
| Rates (APR) | Fixed rate starting at 11.41% |
| Loan amounts | $2,001 – $100,000 |
| Repayment terms | 10 years |
Refinance Student Loans
| Rates (APR) | Fixed rate starting at 11.77% |
| Loan amounts | $2,001 – $100,000 |
| Repayment terms | 10 years |
MPOWER stands out as the best student loan option for international students. The company caters to those studying abroad in the United States during college and working abroad after graduation.
You don’t need a cosigner to qualify, a standout feature that makes it a solid option for international students. You can also take advantage of a generous 0.25% rate discount. Additionally, the company is transparent about its terms and conditions.
Some of the helpful features come at a cost, though. The origination fee is pricey, at 6.5%, and you must start making payments almost immediately. However, the extra expense might be worthwhile, as international students often have limited loan options.
The following MPOWER financing review can help you determine whether it’s the best lender for you.
About MPOWER student loans
MPOWER keeps it simple with one student loan option for undergraduate and graduate students. The rates, terms, fees, and loan amounts are the same for both types of students.
For some borrowers, the simplicity of working with MPOWER is a benefit since you don’t need to research different types of loans. But the reality is that it’s often hard for international students to qualify for loans from U.S. lenders, especially without a cosigner, and MPOWER might be one of your only options.
You can’t get a Parent PLUS or any federal loan through MPOWER. But you can refinance an existing loan, even if the lender is from a different country.
MPOWER student loan rates and terms
MPOWER’s interest rates start at 11.41% APR. When you set up automatic payments, you get a rate discount of 0.25%.
Private student loan rates range from 3.45% to 16.24% APR. MPOWER’s median rate of 15.57% is higher than average. But here’s the truth: Most borrowers don’t choose MPOWER because of the company’s rates.
MPOWER student loans cater to a specific borrower. It can be challenging to qualify for loans while studying abroad as an international student. Even though the rates are higher than expected, the accessibility of the loans might make it worth it.
We’ve broken down the terms for MPOWER loans in the table below.
| Term | Detail |
| Rates (APR) | Fixed rate starting at 11.41% |
| Loan amounts | $2,001 – $100,000 |
| Repayment period | 10 years |
| Fees | 6.5% origination fee |
Eligibility requirements
MPOWER is transparent about eligibility requirements, and information is easy to find in the Support Center. Unlike other lenders, MPOWER approves applications from international students without a cosigner. You can apply with one, but it’s not a requirement. Either way, you still need to provide financial documentation that proves you can repay the loan, including bank statements, retirement funds, or investments.
Most undergraduate and graduate programs qualify for funding from MPOWER if you graduate within two years.
But not every type of program is eligible. For example, you can’t qualify for a loan if you attend the following programs:
- Associate degree
- Certificate
- License
- English Language program
- Boot camp
Let’s take a look at the eligibility requirements for MPOWER student loans.
| Requirement | Details |
| Citizenship | International student, DACA recipient, U.S. citizen, refugee, or asylum-seeker |
| State of residence | Available in all 50 states |
| Minimum age | 18 years old |
| Enrollment status | Attend an eligible program at one 500+ schools in the U.S. or Canada |
| Minimum credit score | No minimum score requirement |
| Minimum income | No minimum income requirement |
How does repayment work?
MPOWER loans have a 10-year repayment term and one repayment option. You don’t have a choice in how or when you repay the loan. The first interest-only payment is due one month after your school receives the funds.
Most lenders allow borrowers to defer payments until after graduation, but MPOWER doesn’t. Because of that, you need to budget for the cost while you’re a student.
Payments will increase and switch to interest plus principal six months after graduation. It’s the company’s version of a grace period, but you still need to make interest-only payments during that time.
You won’t owe a prepayment penalty if you pay off the balance early.
| Terms | Details |
| Repayment options | 1 repayment option |
| Repayment terms | 10 years |
| Grace period | Interest-only payments start 1 month after you receive funds, and full payments start 6 months after graduation |
| Prepayment penalty | No |
How do MPOWER student loans compare to alternatives?
MPOWER is one of the strongest options for international students without a U.S. cosigner. But if you need more flexibility, consider another student loan company.
Information advertised valid as of 06/15/2026. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s).
All rates shown include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit.
College Ave Student Loan Servicing, LLC, NMLS#1263410 NMLS Consumer Access
College Ave’s student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC
In-School Loans Disclosures
Earnest Private Student Loans are subject to credit approval. Before applying for private student loans, it’s best to maximize your other sources of financial aid first. It’s recommended to use a 3-step approach to assembling the funds you need: 1) Look for funds you don’t have to pay back, like scholarships, grants, and work-study opportunities. 2) Next, fill out a FAFSA® form to apply for federal student loans options. 3) Finally, consider a private student loan to cover any difference between your total cost of attendance and the amount not covered in steps 1 and 2. For more information, visit the Department of Education website at studentaid.gov.
Auto Pay Discount
You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment from a checking or savings account. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. It is important to note that the 0.25% Auto Pay discount is not available when loan payments are deferred during the interim period as a result of selecting the deferred repayment option.
Cosigner Release
To qualify for automatic cosigner release, the outstanding principal balance of your loan must be paid down to 50% or less of the original principal balance. The primary borrower must have made 36 months of required payments after the end of the Interim Period. The primary borrower must meet our eligibility and minimum credit requirements. Additional terms and conditions may apply.
To request cosigner release, the primary borrower must have made 12 consecutive, monthly on-time principal and interest payments (or an amount equal thereto) immediately preceding the cosigner release application. The primary borrower must satisfy certain eligibility and credit criteria at the time of application. Additional terms and conditions may apply.
Grace Period
Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.
Loan Cost Examples
Available interest rates are subject to change. Interest rates as of 03/19/2026. Earnest’s Loan Cost Examples:
1.) These examples provide estimates based on principal and interest payments beginning immediately upon loan disbursement. Variable annual percentage rate (“”APR””): A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% interest rate without Auto Pay (16.85% APR) would result in a total estimated payment amount of $27,511.20. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $150.30) and a 16.49% interest rate without Auto Pay (16.49% APR) would result in a total estimated payment amount of $27,054.10.
2.) These examples provide estimates based on interest-only payments while in school. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% interest rate without Auto Pay (16.85% APR) would result in a total estimated payment amount of $35,515.14. For a variable loan, after your starting rate is set, your rate will then vary with the market. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $140.42 for 57 months. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $150.30) and a 16.49% interest rate without Auto Pay (16.49% APR) would result in a total estimated payment amount of $34,886.94. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $137.42 for 57 months.
3.) These examples provide estimates based on fixed $25 payments while in school. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $253.39) and a 16.85% interest rate without Auto Pay (14.92% APR) would result in a total estimated payment amount of $47,035.20. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $246.61) and a 16.49% interest rate without Auto Pay (14.65% APR) would result in a total estimated payment amount of $45,814.80. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $25.00.
4.) These examples provide estimates based on deferred payments. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $275.17) and a 16.85% interest rate without Auto Pay (14.67% APR) would result in a total estimated payment amount of $49,530.60. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $268.03) and a 16.49% interest rate without Auto Pay (14.39% APR) would result in a total estimated payment amount of $48,245.40. Your actual repayment terms may vary. Other repayment options are available. It is important to note that the 0.25% Auto Pay discount is not available when the deferred repayment option has been selected and the loan is in the interim period. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $0.
Loan Minimum
Residents of Hawaii must request a loan of at least $1,501.
Repayment Terms and Options
Repayment terms and repayment options available vary based on loan type.
Skip a Payment
Earnest clients may skip a payment through a single, one-month forbearance during a 12 month period. Your first request to skip a pay can be made once you’ve made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.
No Fees
Earnest does not charge fees for origination, late payments, returned check, or prepayments. Florida Stamp Tax: For Florida residents, Florida documentary stamp tax is required by law, calculated as $0.35 for each $100 (or portion thereof) of the principal loan amount, the amount of which is provided in the Final Disclosure. Lender will add the stamp tax to the principal loan amount. The full amount will be paid directly to the Florida Department of Revenue. Certificate of Registration No. 78-8016373916-1.
Earnest Private Student Loans are made by FinWise Bank, Member FDIC. FinWise Bank, 756 East Winchester, Suite 100, Murray, UT 84107. Earnest student loans are serviced by Earnest Operations LLC, 300 Frank H. Ogawa Plaza, Suite 340, Oakland, CA 94612. NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770). FinWise Bank and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America.
Interest Rates Disclosure:
Includes 0.25% Auto Pay discount. Actual rate and available repayment terms will vary based on your financial profile. Fixed annual percentage rates (APR) range from 3.04% to 16.74% (2.79% – 16.49% with Auto Pay discount). Variable annual percentage rates (APR) range from 5.24% to 17.1% (4.99% – 16.85% with Auto Pay discount). Earnest variable interest rate student loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent plus a margin and will change on the 1st of each month. The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Our lowest rates are only available for our most credit qualified borrowers and requires selection of our shortest term offered, full principal and interest payment while in school, and enrollment in our 0.25% Auto Pay discount. Enrolling in Auto Pay is not required as a condition for approval. Interest rates are subject to change.
fixed apr
Starting at 11.41%
4.13% – 17.99%
4.13% – 17.99%
variable apr
N/A
4.13% – 17.99%
4.13% – 17.99%
funding amounts
$2K – $100K
$1K – total costs
$1K – total costs
cosigner required?
No
Yes
U.S. citizen cosigner required if borrower is not a citizenYes
U.S. citizen cosigner required if borrower is not a citizenCollege Ave is another popular option for international students. It offers a fixed or variable rate, no application fees, and four repayment options. The only downside is that it requires international students to have a U.S. citizen or permanent resident as a cosigner.
Earnest stands out with a unique skip-a-payment option you can use every 12 months. Low rates and a nine-month grace period also help this lender stand out. But once again, you need a U.S. citizen cosigner, making it inaccessible for some international students.
Read More Student Loans for International Students
How do you get an MPOWER student loan?
MPOWER simplifies the student loan application process. The application is digital, and it only takes two minutes to find out whether you’re eligible for a loan. Once MPOWER confirms that your home country, school, and program qualify for funding, you must provide personal information like your address and verify your identity. The entire process takes about 20 minutes.
Here’s what you can expect when applying for an MPOWER loan.
- Check eligibility: Answer a few questions, including your name, home country, and where you plan to study in the U.S. or Canada.
- Review offer: The next step is to answer more in-depth questions about your eligibility and provide documentation before finalizing the loan.
- Sign for the loan: The final step is accepting the loan offer. If you have any questions throughout the process, you can chat with an MPOWER loan expert.
How does MPOWER student loan refinance work?
MPOWER is a solid choice for international workers who reside in the U.S. and want to refinance a student loan from their home country. Once you refinance with MPOWER, you can use the money to pay off your existing student loan.
As a bonus, you can start building credit in the United States and release your cosigner from financial responsibility so they can focus on other goals like retirement.
The rates and terms are comparable to other lenders—and less competitive than some—but the perk of working with MPOWER is switching your current loan to the American financial system.
| Term | Details |
| Rates (APR) | Starting at 11.77% |
| Loan amounts | $2,001 – $100,000 |
| Repayment terms | 10 years |
| Cosigner release? | Yes |
Who is eligible to refinance student loans with MPOWER?
You must work full-time in the United States for at least three months and have a valid work visa to qualify for refinancing with MPOWER. Here’s more eligibility information.
| Requirement | Details |
| Min. credit score | No minimum score requirement |
| Proof of income | Pay stubs from full-time employment and living cost documents |
| Citizenship | Australia, Austria, Brazil, Dominican Republic, Germany, India, Kenya, South Korea, Mexico, Nigeria, Philippines, Switzerland, Spain, or the U.K. |
| State of residence | Available in all 50 states |
| Min. age | 18 years old |
| Employment status | Must live and work in the United States for 3 months and have a visa to work in the U.S. for at least 2 years from application |
How does MPOWER student loan refinance compare to alternatives?
MPOWER is a standout option for U.S. visa holders seeking to refinance loans from their home countries. The company doesn’t require a U.S. cosigner, making it a solid choice for borrowers who don’t have American family members. But you have more refinancing options if you have someone who can cosign.
These competitors refinance loans for international students, but you must have a U.S. cosigner.
fixed apr
Starting at 11.77%
3.99% – 11.09%
4.49% – 9.99%
5.45% – 10.08%
variable apr
N/A
4.31% – 12.05%
5.99% – 9.99%
5.99% – 11.08%
terms (yrs.)
10
Vary
5 – 20
5 – 20
refinance amounts
$2K – $100K
Vary
$5K+
$10K – $750K
- SoFi: Once you refinance with SoFi®, you can take advantage of its unique member features. You won’t be required to pay any fees, and rates are competitive.
- Credible: As an online marketplace, Credible makes it easy to search for the best lender and compare multiple offers at the same time. You can check rates without affecting your credit score, but it’s time-consuming; you have to check each option before moving forward.
- Citizens Bank: This lender offers some of the most flexibility, including refinancing up to $750,000, various repayment terms, and low interest rates. Citizens Bank also focuses on your cosigner’s creditworthiness, making it a viable option if you don’t have any credit history in the United States.
How to refinance your student loans with MPOWER
Applying for refinance is similar to applying for a loan. You must prove that you meet the eligibility requirements, including a valid visa and full-time employment in the United States.
- Check eligibility: MPOWER confirms your eligibility with a quick online form. Provide information about your loan and personal details, such as contact information.
- Complete application: During this step, you give more information about your employment, finances, and location.
- Review offer: MPOWER provides an initial offer, including loan amount, rates, and terms.
What do MPOWER customers say?
MPOWER caters to international borrowers worldwide and has offices in Washington, D.C., and India. Reviews on some sites, including the Better Business Bureau (BBB) are limited, but you can find thousands of reviews on Trustpilot.
Reviewers consistently mention that MPOWER was their only option as international students without a cosigner. Borrowers also report that the application process is easy, and customer service representatives are attentive.
| Platform | Rating | Number of reviews |
| Trustpilot | 4.7/5 | 3,389 |
| BBB | 1/5 | 1 |
Does MPOWER have a customer service team?
MPOWER’s customer service team is thorough, friendly, and easy to reach. Here’s how to get in touch with the company.
- Phone: You can call 1-202-417-3800 in the United States or 1-647-503-4607 in Canada. Representatives are available Monday to Friday from 2 a.m. to 4:30 p.m. Eastern.
- Email: You can send an email to [email protected].
- Virtual assistant: MPOWER’s virtual assistant, Mira, is available 24/7 and can help you find answers online. You can also create a support ticket request via chat.
About our contributors
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Written by Taylor Milam-SamuelTaylor Milam-Samuel is a personal finance writer and credentialed educator who is passionate about helping people take control of their finances and create a life they love. When she's not researching financial terms and conditions, she can be found in the classroom teaching.
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Edited by Kristen Barrett, MATKristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their pack of senior rescue dogs. She has edited and written personal finance content since 2015.