MPOWER Financing is a student loans lender based in Washington, DC. It was founded in 2014 and offers student loan refinancing in state across the USA.
The range of APRs you qualify for when refinancing a student loan vary widely by lender and will depend on your creditworthiness and the type of loan you choose. Loans with fixed rates will typically have higher APRs than loans with a variable rate.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 9.99% to % APR.
Yes, MPOWER Financing charges a loan origination fee.
Yes, MPOWER Financing charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment fees can reduce or even cancel the interest savings of repaying a loan early.
MPOWER Financing provides refinancing loans of 3 to 10 years.
MPOWER Financing considers loans applications from:
Active duty servicemembers and their covered dependents cannot apply for a loan via MPOWER Financing. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.
MPOWER Financing will typically fund loans within 14 and 28 days of approval.
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