If you are an international student wishing to continue your studies in Canada, you may be familiar with the term “MPower.” An organisation called Mpower provides loans and other types of financial aid to international students who want to pursue academic studies in Canada. 

Mpower supported universities in Canada can be a great resource for international students. Continue reading to find out more about the Mpower program and how it benefits foreign students studying in Canada.

How Does Mpower Support International Students in Canada?

The Mpower provides financial aid, counselling, and other services to foreign students enrolling in Canadian universities. Collaboration with Canadian institutions is one of the many ways this international financial organization helps. 

Mpower connects foreign students with universities that best suit their unique goals and interests thanks to our collaboration. Mpower also provides a multitude of resources to help students navigate the Canadian educational system.

A few of the services include guidance on visa requirements, employment permission, and housing options. The Mpower also provides resources for financial literacy that support students in managing their finances wisely while they are enrolled in school.  

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Benefits of Studying at Mpower Supported Universities in Canada

There are many advantages to attending Mpower supported universities in Canada. Some of these advantages are: 

• Financial assistance is provided to international students in the form of loans and scholarships.  
• The students are given additional tools that make it simpler for them to study in Canada. 
• You can borrow up to $100,000 with Mpower funding to cover the costs of undergraduate, graduate, or doctorate studies at qualified Canadian schools. 
• You are not charged any prepayment penalty, and you don’t require a cosigner to be eligible for the loan. 
• Be it mentoring or specialised advising, students are offered all the tools required for their pursuit of education. 
• Also, Mpower supported universities in Canada strive to form a diverse community that offers support to cultural differences. 
• Students are offered guidance required to thrive, academically, professionally, and personally. 
• Also, the Mpower supported universities in Canada offer numerous academic programs and courses for overseas students. 
• The Mpower-supported universities have state-of-the-art facilities and resources that allow students to get hands-on learning experiences and hold cutting-edge research.

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How to Apply for Mpower Funding as an Overseas Student in Canada?

The process of applying for Mpower funding is straightforward. Here is what the process of your application will look like. 

Step 1: Find out the Canadian university which is associated with Mpower. You can easily find such universities on the official website of Mpower.

Step 2: After you have identified the university, proceed with your application for admission to your desired program. 

Step 3: Once you are offered admission, apply for an Mpower student loan. 

Step 4: Give the documentation to prove your financial history, academic background, and identity. 

Step 5: The funds will be directly disbursed to your school to cover tuition fees and living expenses after the approval of the loan. 

Keep in mind that only international students studying in Canada are eligible for Mpower funding. Permanent residents or Canadian citizens are not eligible for the financing. 

Also, please note that interest rates for Mpower loans can be more than those of traditional student loans. The interest rate for Mpower is presently up to 13.98% for graduates and up to 15.01% for undergraduates. 

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Mpower Supported Universities in Canada

The Mpower supported universities in Canada aim to offer support and additional resources to overseas students pursuing education in Canada. 

International students get to enjoy a wide array of resources and support at Mpower-supported universities in Canada. These resources include career counselling, cultural integration programs, advice related to academics, and language support. 

Have a look at some of the Mpower-supported universities below: 

• University of Victoria 
• University of Regina 
• Carleton University 
• University of British Columbia 
• Queen’s University 
• University of Saskatchewan 
• University of Windsor 
• Wilfrid Laurier University 
• Western University 
• Simon Fraser University 
• University of Manitoba 
• University of Winnipeg 
• University of Guelph 
• University of Toronto 
• York University
• University of Ottawa 
• McMaster University 

Also Read: A GUIDE TO STUDYING IN THE USA FROM CANADA

Eligibility Criteria for Mpower Funding

There are certain eligibility criteria that you need to keep in mind before you apply for a student loan. Here are the requirements you need to fulfil in order to be deemed eligible for the Mpower loan:

• You need to be an international student pursuing education at a Mpower-supported university in Canada. 
• You must possess a valid Canadian study permit or be in the process of getting one. 
• You will have to show your financial requirements and creditworthiness. 
• In addition to this, you need to have a co-applicant who is a Canadian citizen/permanent resident or an overseas student with a valid Canadian study permit. 

Success with Mpower Funding

There are countless overseas students who successfully received Mpower funding for their pursuit of education in Canada. These funds made it simple for students to succeed academically, obtain work experience, and have a promising future. 

Also Read: School in Canada Supported by MPOWER Financing

Academic Programs At Mpower Supported Universities in Canada

You can choose from a variety of academic programs when you attend Canadian universities that get funding from Mpower. 

The STEM (Science, Technology, Engineering, and Mathematics) disciplines, as well as social science, business, and the arts, are the most well-known academic fields offered by universities supported by Mpower. No matter what your educational background is, you can easily discover a program that fits your academic and professional objectives. 

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Cost of Studying at Mpower Supported Universities Vs. Other Institutions

Studying at a Canadian university that receives funding from Mpower is more expensive than doing so at other universities. It is important to note, nevertheless, that the extra assistance and resources provided by the universities supported by Mpower frequently offset the higher cost. 

When comparing the costs of studying at a university supported by Mpower and other universities in Canada, one should also take into account the living expenses, tuition fees, and potential scholarships. The benefits of attending an institution that receives funding from Mpower frequently exceed the additional costs. 

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Tips for Navigating the Application Process

The process of applying for Mpower funding can be very overwhelming. Fortunately, there are some tips that can allow you to navigate the entire process with ease:

• Ensure that you properly research the Mpower-supported universities in order to find the one that caters to your goals and requirements. 
• Begin your application early so that you have enough time to gather all the mandatory documentation. 
• You can also take advantage of resources like specialised advising and mentoring programs. 
• Properly communicate your creditworthiness and financial requirements in your loan application. 

Community and Networking Offered by Mpower Supported Universities

The sense of community and opportunities for networking is one of the most significant aspects of pursuing education at Mpower supported universities in Canada. These universities strive to form a diverse and inclusive community that offers support to cultural differences and celebrates diversity. 

International students get to connect with like-minded people and build a network in Canada via mentorship programs, student organisations and initiatives for career development. These connections are priceless during and after the completion of studies.  

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Impact of COVID-19 on Mpower

The COVID-19 pandemic caused a lot of problems for students who wished to pursue education abroad. While the pandemic is over, organisations like Mpower are still implementing the reforms they adopted during that time. 

The COVID-19 pandemic prompted Mpower to pay more attention to mental health resources and academic advising. It has increased its focus on offering additional resources and support to overseas students. 

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Future of Mpower Program

The Mpower program is striving to expand its support to international students who are studying in Canada. Mpower is reportedly going to partner with additional universities and expand its resources for overseas students. 

The program is anticipated to continue impacting the lives of international students studying in Canada for years to come with its commitment to forming a diverse and inclusive community. 

Also Read: Scholarships for International Students to Study in the USA

FAQs 

What is MPOWER Financing in Canada for international students?

Students can borrow up to $100,000 and pay fees for undergraduate, graduate, or doctoral degrees at eligible institutions in Canada with the help of Mpower financing. 

What is the interest rate for Mpower?

At present, the interest rate for Mpower is up to 13.98% for graduates and up to 15.01% for undergraduates. 

Does MPOWER finance cover living expenses? 

Yes, the Mpower finances cover living expenses along with other education-related costs.