Bengaluru (Karnataka) [India], November 18 (ANI/BusinessWire India): MPOWER Financing, a mission-driven fintech firm and the leading provider of education loans to high-promise international students, has launched an international student loan refinancing program ('Refi') for Indian graduates now working in the United States.
By launching this program, MPOWER is ensuring that promising graduates from around the world are able to kickstart their new careers on sound financial footing by refinancing up to $100,000 (about Rs75 lakh) of education loans from Indian financial institutions. In addition to releasing cosigner and collateral obligations, successful applicants can significantly reduce their interest rates while building their U.S. credit history.
"Our aim is to empower students studying in the US by providing them the option of refinancing their education loans through a quick and easy process," said Ashwini Kumar, General Manager of MPOWER's India Office. "This will not only reduce their interest rate considerably but will also free them from the obligations of a cosigner and collateral. Being able to free up their family resources is going to reduce the mental burden for any student significantly. Additionally, MPOWER helps applicants to build their US credit history and avail various tax benefits offered by the US government. As a mission-driven company, MPOWER aims to provide hassle-free and seamless experience to our students with the best interest rates through our refinancing program."
"Having the ability to refinance my Indian student loan through MPOWER has been such a relief," said Aniket Sinha, one of MPOWER's recent refi customers. "Since graduating from the University of Florida, I've secured a fantastic job in my chosen field of computer science. However, I was still concerned about my loan payment, along with the fact that my parents were still on the hook for the loan. With MPOWER, not only am I saving thousands of dollars each year, but I also have the peace of mind that my parents are free and are no longer burdened as my co-signers as they move toward retirement."
"Refinancing my Indian loan with MPOWER leaves more money in my pocket and helps to establish myself financially in the U.S.," said Rahul Gunasekaran, another recent MPOWER refi customer. "Now that I've graduated from George Mason University and have a great job in information security, I want to ensure that my parents are no longer financially burdened. My MPOWER loan helps save thousands of dollars annually while putting me on sound footing and releasing my parents' financial obligations."
Eligible applicants must have graduated from a U.S. or Canadian university and have at least three months of work experience. A wide variety of work authorizations are eligible, including OPT, H1-B, and others. Interested applicants can read more and apply on MPOWER's website.
MPOWER's loans are collateral-free and cosigner-free, and students benefit from complimentary credit-building, immigration guidance, and job placement assistance through MPOWER's Path2Success program. As a mission-driven organization, MPOWER is committed to making loans that are financially sustainable for students.
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