MPOWER Cuts Interest Rates by Up to 4% for Indian Students Studying Abroad

For Indian students aiming to study in the U.S. or Canada, financing international education can be a significant hurdle. Recognizing this, MPOWER Financing has introduced its lowest annual rate—9.99% (10.89% APR)—available exclusively to students applying for the fall 2025 semester. With tuition costs rising, MPOWER’s limited-time rate is designed to make the dream of studying abroad more attainable for Indian students and their families.

Key Details of MPOWER’s New Loan Rate

1. 9.99% Interest Rate for Fall 2025 Semester:
   Available until December 31, 2024, this rate includes:
   • A 0.25% discount for setting up automatic payments.
   • An additional 0.75% discount through the Early Planner Promotion, encouraging early applications for maximum savings.
2. No Cosigner or Collateral Required:
   Unlike traditional loans, MPOWER’s loan structure does not require a cosigner or collateral, allowing Indian students to apply independently—a significant advantage for those without established financial support in the U.S. or Canada.
3. Fixed Rate Stability:
   MPOWER’s loans are fixed-rate, which means interest remains consistent over the term, providing stability for students and families budgeting long-term.

For more information on this new loan rate and additional support, visit MPOWER Financing’s Get a Loan page.

How MPOWER’s New Rate Helps Indian Students Save

With tuition fees varying widely by university type, MPOWER’s 9.99% rate can translate into real savings, helping students manage the long-term costs of higher education. Here’s how MPOWER’s offer could benefit Indian students attending different types of institutions:

• Public Universities: For students at universities like University of Texas, Austin or UCLA, with annual tuition between $12,000 and $30,000 (INR 10 – 25 lakhs), MPOWER’s rate can save thousands over the loan term. On a loan of $25,000 (INR 20.5 lakhs), a 1% lower rate could save around $2,500 (INR 2.05 lakhs) in interest alone.
• Private Universities: For institutions such as New York University (NYU) or University of Southern California (USC), where tuition ranges from $30,000 to $65,000 (INR 25 – 54 lakhs), students borrowing $50,000 (INR 41 lakhs) could save up to $5,000 (INR 4.1 lakhs) in interest.
• Top-Tier Universities: At prestigious universities like MIT or Stanford, where tuition can reach $50,000 to $70,000 (INR 41 – 58 lakhs), MPOWER’s rate offers significant relief. A student financing $60,000 (INR 49.2 lakhs) might save around $6,000 (INR 4.9 lakhs) in interest over the course of their study.

These savings underscore the impact of reduced interest on long-term educational costs, helping students better manage debt while pursuing high-cost programs abroad.

Additional Financial Tips for Indian Students Studying Abroad

1. Scholarships and Financial Aid:
   In addition to loans, MPOWER offers scholarships specifically for international students, including awards for academic and community achievements. Indian students are encouraged to explore multiple funding sources, including university scholarships and government-sponsored options, to reduce their reliance on loans.
2. Managing Exchange Rates:
   Since MPOWER loans are issued in U.S. dollars, students are protected from currency exchange rate fluctuations. This provides added financial stability, as loan repayment amounts remain predictable, allowing students to plan their finances more confidently without being impacted by exchange rate volatility.
3. Post-Graduation Work Opportunities:
   Canada’s Post-Graduation Work Permit (PGWP) and the U.S. Optional Practical Training (OPT) period enable international graduates to work and gain experience, which can help manage loan repayment after graduation.

How to Apply for MPOWER’s Rate

Students interested in securing this rate should complete their application by December 31, 2024. The process is straightforward and online, allowing students to apply independently and lock in the 9.99% rate with automatic payment and early planning discounts.

(This article is part of DMCL Consumer Connect Initiative, a paid publication programme. DMCL claims no editorial involvement and assumes no responsibility, liability or claims for any errors or omissions in the content of the article. The DMCL Editorial team is not responsible for this content.)