If you're taking your education to the next level, pursuing a graduate-level degree, be it a master's or a doctorate, you probably know how expensive tuition can be; especially for international students. The fees you'll typically have to pay in Canada or the US are only rivalled by the income you'll eventually earn in your career!
MPOWER Financing recognizes how important funding the next generation of scholars is. So, MPOWER built a student loan tool to help you explore your options. You may even get an offer from MPOWER itself for a student loan worth up to $50,000 USD.
Student loans for international grad students
The student loan search tool makes identifying potential funding sources easy. Answer a few quick questions about yourself and your study plans, including your estimated date of graduation, and you'll receive a list of potential options.
You'll even be asked how much money you need, so you can target your funding to the specific gap you're trying to close.
You don't need a co-signer, either, which makes getting a loan through MPOWER Financing much easier than other methods.
Canadian schools supported by MPOWER
Not all colleges and universities will qualify for an MPOWER loan, though. Currently, MPOWER works with about 40 institutions across Canada, including some of the biggest names, like:
Click here to see the full list of supported schools in Canada and abroad.
I'm eligible for a loan — what next?
Just follow the instructions on the MPOWER website to secure your funding. You may need to submit a few documents confirming your educational and financial status, but MPOWER representatives are available to help answer any questions you might have.
Before you sign anything, be sure you understand the interest rate. Your education will open doors to more career opportunities, which in turn means you'll earn more money over the course of your life. As you begin to draw a salary from your career, you'll need to pay back the principal — that is, the money you borrowed from MPOWER — plus interest. The interest rate will determine how much additional money this is. A higher interest rate means more money you'll have to pay back.
Paying interest is a perfectly normal part of borrowing money, but it's important that you understand what you're getting into before entering into a formal legal agreement by signing a contract.
Other funding sources for international grad students
You may also be eligible for scholarships and bursaries from schools and organizations, or even the Canadian government, so be sure to explore all your options!
Best of luck in your journey to studying in Canada!
Explore the MPOWER student loan search tool