MPOWER Financing is offering an educational opportunity to talented and motivated students who are enrolled in an undergraduate or graduate degree programme through the MPOWER Financing Special Series International scholarships. MPOWER will be awarding $8,000 USD this summer to support 12 international students in funding their educational dreams.
Mpower Financing was founded by Manu Smadja and Michael Davis in 2014. Both had faced difficulties financing their education in the US, and met in 2009 at INSEAD in Paris while they were working on their MBAs. The company launched officially in May 2015 with Harvard as its first university partner. In October 2016, Mpower Financing announced that it raised $6 million through the assistance of Zephyr Peacock India.
In July 2017, Mpower Financing’s services became available in all 50 states due to a partnership between the company and Bank of Lake Mills. In August 2017, Mpower Financing announced a $100 million debt round in order to offer more student loans. On February 16, 2017, it was reported that Mpower Financing had received more than $150 million in loan applications. In the summer of 2017, Mpower Financing began working with credit reporting agency Nova Credit to simplify the application and underwriting process for international applicants.
In 2018, Mpower launched its Canadian international student loan program at 12 universities across Ontario and British Columbia. That same year, Mpower added a scholarship program, the Mpower Global Citizenship Scholarship. Four awards are given per year, each one amounting to $5,000.
As of April 2019, it was reported that Mpower Financing had received over $1 billion in loan applications.
Eligibility criteria for the MPOWER Financing Special Series International Scholarships
To be eligible, the applicants must meet all the given criteria:
- Be admitted to, or enrolled in, a full-time degree program at the U.S. or Canadian school that MPOWER supports, and
- Be an international student permitted to legally study in the U.S. or Canada, as applicable:
- For study in the U.S., this means that the applicant meets one of these criteria:
- Has a valid visa that permits study in the U.S., or
- Is protected under the Deferred Action for Childhood Arrivals (DACA)
- For study in Canada, this means the applicant must meet the following criteria:
- Has a valid Canadian study permit
Eligible Countries: International
Type: Undergraduate or Graduate
Value of Award: Up to $8,000
Number of Awards: 12
The award can be taken in the USA and Canada
Method of Application: To start the application process, all students must fill out an online application form.
Application Deadline: Last Friday of the month. Upcoming dates: July 29, 2022; August 26, 2022.
Visit The Official Website For More Information on the MPOWER Financing Special Series International Scholarships