Simplify payments and gain flexibility

You’ve earned a degree from a top university, started a great career, and built a life for yourself in the U.S. Isn’t it time to reap the rewards of your hard work?

  • Release your cosigner and collateral
  • Benefit from lower, more convenient payments
  • Qualify for employer matching programs
  • Build independence and your U.S. credit history through timely repayment

Take advantage of employer matching to pay off your loan sooner

U.S. employers can make up to US$5,250 in student loan payments to an employee each year tax-free. But, only U.S. student loans like MPOWER qualify. Refinancing is a win-win for you and your employer to pay off your loan sooner. Don’t leave money on the table.

Release your cosigner and take care of your family

Did your parents cosign your loan? Are they feeling stressed about their financial obligation, unable to cosign a loan for a sibling, invest in their business… or just retire?

They’ve taken care of you, now you have the opportunity to return the favor and give your family more freedom. When you refinance your loan, you’ll be able to pay off your home-country loan and release your cosigner and collateral.

Am I eligible?

You could be eligible if you:

  • Live in the U.S. and have worked in the U.S. for at least 3 months full-time post-graduation
  • Have a valid visa (including H1-B, and F-1 while on OPT) or are a DACA recipient, a U.S. Citizen, refugee, or asylum seeker, and two or more years of work authorization

How you benefit from refinancing with MPOWER

  • Release your cosigner and collateral
  • Qualify for employer-matching
  • Reduce monthly payments and total interest
  • Lock in a fixed interest rate
  • Guaranteed no prepayment penalty
  • Build U.S. credit history through timely repayments

Our loan terms

Refi Loan Terms
Minimum Loan Amount US$2,001
Maximum Loan Аmount US$100,000
Fixed interest rate before discounts:
– Automatic payment sign-up discount
11.99%(12.95% APR)
-0.25%
Fixed interest rate after discounts: 11.74% (12.69% APR)
Term 10-year repayment
Prepayment penalty None
Other onsiderations
Build your U.S. credit history through timely repayment of the loan MPOWER reports to all three major U.S. bureaus
Path2Success Program FREE
FAQ

AfriCred Student Education Loans

AfriCred is your gateway to education loans offered by leading financial institutions like MPower, Prodigy Finance, and other top banks and NBFCs. We simplify the loan application process, helping students access funding for their academic pursuits.
Eligibility criteria may vary, but generally, students pursuing higher education, both locally and abroad, can apply. Specific eligibility details can be obtained from AfriCred or the respective lending institution.
Our partnerships offer a wide range of education loans, including options for undergraduate, postgraduate, and doctoral studies, as well as loans designed for specific courses or programs. Loan availability may vary based on the partnering institution.
To apply for a student education loan, you will typically need documents such as your passport, proof of address, and national ID. These requirements may vary by lender, so it's essential to confirm the specific documentation needed during the application process.
Interest rates for international funding through AfriCred are generally around 14%. However, please note that interest rates can vary depending on the lender and the terms of the loan. It's advisable to check with the respective lending institution for the most up-to-date rates.
Yes, domestic education loan interest rates can vary and may go up to 30% or higher. These rates can change over time, reflecting market conditions and lending policies. It's essential to stay informed about the current rates when considering domestic loans.
AfriCred simplifies the application process by guiding students through each step. This includes completing application forms, collecting required documents, and facilitating the submission to the relevant lender. Our goal is to make the process as straightforward as possible for applicants.
Processing times can vary depending on the lender and the completeness of your application. AfriCred aims to expedite the process and provide timely updates to applicants. However, specific timelines are determined by the lending institution.
Fees and charges can vary by lender and loan product. AfriCred will provide detailed information about any applicable fees during the application process to ensure transparency for applicants.
To begin the application process or obtain further information, please reach out to AfriCred through our website or by contacting our dedicated support team. We are committed to helping students navigate the loan application process effectively.