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Studying in the US or Canada has become easier with the advent of Fintech companies offering international student loans and scholarships. One such opportunity is MPOWER scholarships and loans provided to eligible international students worldwide.
The company has produced over 5000 graduates in supported US and Canadian schools, of which 45% belong to the STEM industry. In addition, the entire process of securing an MPOWER scholarship or loan is digitalized and can be done from the comfort of your bed.
Based on these exceptional achievements, MPOWER has been recognized and rated by several reputable companies such as Nerdwallet (awarded MPOWER the best FinTech Company).
About the MPOWER Financing Company
MPOWER Financing Company, popularly known as MPOWER, was introduced in 2014 by Manu Smadja and Mike Davis to help international students fulfill their dream of studying in the US or Canada.
Over the years, the platform has grown drastically and attracted more investors to become a pillar for many international students.
The company supports almost the colleges and universities in North America, totaling up to 400+. You can easily find out if your institution of choice is supported on the MPOWER Schools We Support page. However, it is advisable to check out other available schools if you cannot find your school on the list.
How Many Scholarships Does MPOWER Award?
MPOWER offers international students six forms of scholarships depending on their eligibility. Interested candidates can take advantage of any of these scholarships offers to begin their journey to studying in the US. Here are the available scholarships at MPOWER:
Global Citizen Scholarship
The Global Citizen Scholarship is created to accommodate every eligible international and establish a diverse group of beneficiaries of the MPOWER scholarship.
Eligibility
- Open to all international students that are legally permitted to study in the US or Canada
- US citizens and Canadian citizens are not qualified to apply for the scholarship
Benefits
- $10 000 Grand Prize
- $2 000 for the Runner-Up
- Up to $2 000 for an honorable mention
Criteria
- Applicants must be currently enrolled for a full-time degree at a supported US or Canadian school.
The applicants must be legally allowed to school in the US and fall into one of the categories below:
- Possess a valid US or Canadian visa that permits study in the country of choice.
- Must be protected under the Deferred Action for Childhood Arrivals (DACA).
- Must be a permanent resident of the US (Green Card holder) or Canada.
Application Process For This Mpower Scholarship
- You can begin your application process on the official page for Global Citizen Scholarship.
- The candidate’s details, such as name, e-mail, country of residence, and purpose of the study, are compulsory.
- Applicants must also provide their current US or Canada enrollment status. And an essay of 250-500 would also be another vital requirement.
Monthly Scholarship Series
MPOWER also organizes a monthly scholarship series to provide immediate assistance to the winners of the monthly series. Participants would be required to write about a particular in their application, usually about their experiences and goals as a student.
Eligibility
- All students enrolled for a full-time degree program at a school MPOWER supports
- US and Canadian citizens studying in these countries are not allowed to apply.
Benefits
- Grand Prize of $2 000 for the overall winner
- Honourable Mentions worth $1 000 for two beneficiaries
- The total worth of the scholarship for 2023 is about $48 000, so you should continue to apply each month until you are selected
Criteria
- The applicants must be legally allowed to school in the US and must fall into one of the categories below:
- Possess a valid US or Canadian visa that permits study in the country of choice.
- Must be protected under the Deferred Action for Childhood Arrivals (DACA).
- Must be a permanent resident of the US (Green Card holder) or Canada.
Application Process
- Visit the official page for Monthly Scholarship Series to begin your application.
- The topic for January requires applicants to discuss their New Year Resolutions.
Application Deadline
- The deadline for applying for this scholarship is the last Friday of every month.
Women in STEM Scholarship
To encourage women to participate more in Science, Technology, Engineering, and Mathematics, MPOWER offers this scholarship to women who major in science and technology-related courses. The scholarship does not only provide financial support but also offers work opportunities to the beneficiaries.
Eligibility
- All female students enrolled for a full-time degree program in a science or technology-related course at a school MPOWER supports
- Women from the US and Canadian citizens studying in these countries are not allowed to apply
Benefits
- Main Prize: $6 000
- $2 000 for the runner-up
- $1 000 would be awarded for an honorable mention
Criteria
- The applicants must be legally allowed to school in the US and must fall into one of the categories below:
- Possess a valid US or Canadian visa that permits study in the country of choice
- Must be protected under the Deferred Action for Childhood Arrivals (DACA)
- Must be a permanent resident of the US (Green Card holder) or Canada.
Application Process
- Interested candidates can begin their application on the MPOWER Women in STEM Scholarship page.
- Applicants must answer basic questions and provide details about their achievements and aspirations in the STEM industry.
- Applicants would also be required to upload their résume.
MPOWER MBA Scholarship
This scholarship is the latest addition to the scholarship offers of MPOWER. The scholarship is introduced to assist international MBA students in MPOWER-supported schools with up to $10 000 up for grabs.
Eligibility
- All students enrolled for a full-time degree program at a school MPOWER supports.
- US and Canadian citizens studying in these countries cannot apply.
Benefits
- Up to $10 000 Grand Award
- $2 000 for two beneficiaries with honorable mention
Criteria
- Applicants must be legally allowed to school in the US or Canada and must fall into one of the categories below:
- Possess a valid US or Canadian visa that permits study in the country of choice.
- Must be protected under the Deferred Action for Childhood Arrivals (DACA).
Application Process
- The application form is available on the MPOWER MBA Scholarship Page
- The application form should be filled out correctly and submitted.
MPOWER Refugee Scholarship
Escaping from war and hardship should not stop you from achieving your dreams, and MPOWER is here to help. The scholarship is only for refugees who have sought shelter in the US or Canada and are studying in one of the schools supported by MPOWER.
Eligibility
- Only Refugees or Asylees from any country (possibly become one) enrolled in a school supported by MPOWER
Benefits
- $3 000 would be awarded as Grand, and $1 000 for two beneficiaries honorably recognized.
Criteria
Applicants must be legally allowed to school in the US or Canada as one of the following:
- A refugee or an Asylee
- Possessor of Temporary Protected Status
- A beneficiary of Deferred Enforcement Departure (DED).
Although not compulsory, taking a loan from MPOWER can also boost your chances of being selected.
Application Process
- Interested applicants can begin their application on the official page of the MPOWER Refugee Scholarship.
MPower Chinese Scholarship
About 40% of international students in the US are Chinese, and the number is expected to continue rising. Hence, MPOWER looks to provide adequate support for Chinese students studying in supported schools.
Eligibility
- Open to all international students with Chinese citizenship enrolled full-time in a school supported by MPOWER in the US or Canada
Benefits
- Grand prize of $5000
- Runner-up prize of $1500
- 2 Honourable mention awards of $500
Criteria
The applicants must be legally allowed to school in the US and must fall into one of the categories below:
- Possess a valid US or Canadian visa that permits study in the country of choice
- Must be a permanent resident of the US (Green Card holder)
Application Process
- Interested Candidates can begin their application on the official page of the MPOWER Chinese Scholarship.
Frequently Asked Questions And Answers
- What is MPOWER?
MPOWER is an education financing company that offers loan and scholarship opportunities to International students enrolled in its partner schools in the US and Canada.
- How much can I get from MPOWER?
The worth of each scholarship offered by MPOWER is stated on the scholarship page, ranging from $500 to up to $10 000.
- Is MPOWER financing only for international students?
Yeah, the scholarship opportunities on the platform are only for international students, while local and international students can pick up a loan with MPOWER.
Conclusion
MPOWER scholarships provide alternatives to achieving your dream as an international student for free. Moreover, taking a loan from the company is not a criterion for any scholarship, although interested students are welcome.
The application is easy, and the selection process is transparent. You can check out the scholarship page of MPOWER to learn more.
