MPOWER Financing partners with BorderPass to help promising international students attain a study permit

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May 21, 2024, 10:00 ET

The partnership will assist bright students from around the world navigate the challenges of the Canadian immigration system and successfully begin studying at a top Canadian university

WASHINGTON, May 21, 2024 /PRNewswire/ -- MPOWER Financing, a mission-driven fintech firm and the leading provider of no-cosigner loans to promising international students, today announced a partnership with BorderPass, an online platform that supports international students moving to Canada. The partnership will help facilitate a more streamlined and accessible immigration process for students by assisting high-achieving students globally in navigating the Canadian study permit application process.

"MPOWER has always been committed to helping talented international students secure a high-caliber education in Canada, and our partnership with BorderPass marks a significant milestone in our commitment to assist international students with benefits beyond education funding," said Lisa Kaplan, head of Product and Digital Platforms at MPOWER Financing. "By collaborating with BorderPass, we are creating a seamless path for international students to leverage expert immigration services alongside their MPOWER student loan. We're thrilled that BorderPass's guidance will enable more opportunities in Canada for students from around the world."

Through this partnership, students who get financing from MPOWER to pursue a top Master's or MBA degree in Canada will have access to the BorderPass platform for immigration support. BorderPass supports international students as they navigate the study permit process, providing comprehensive services and expert advice through every step of their application, visa, documentation, work permit, student life.

"BorderPass and MPOWER are dedicated to empowering international students to fulfill their dreams by offering comprehensive support for both their financial and immigration journeys," said Sally Daub, co-founder of BorderPass. "Together, we provide students with the tools and assistance they need to unlock access to Canadian education, ensuring a secure and seamless journey throughout their studies and beyond, wherever their aspirations may lead them."

The BorderPass partnership is a testament to MPOWER Financing's commitment to removing barriers to education and offering financially sustainable loans to international students. In addition to receiving MPOWER's collateral-free and cosigner-free loans for international students studying at Canadian and American universities, students benefit from visa and immigration guidance; job search and career support and access to financial resources like credit cards, debit cards and other exclusive offers through MPOWER's Path2Success program.

MPOWER completed its first securitization last week, enabling approximately US$215 million of education loans for international graduate students at leading universities. The securitization, the first in the U.S. for international student loans, was completed with Goldman Sachs & Co. LLC serving as structuring agent and joint bookrunner and Deutsche Bank Securities Inc. as joint bookrunner.

About MPOWER Financing
Headquartered in Washington, D.C., and with employees worldwide, MPOWER Financing is a mission-driven fintech company and the leading provider of global education loans. Its proprietary algorithm analyzes overseas and domestic credit data as well as future earning potential to serve promising international students. MPOWER works with over 400 top universities across the U.S. and Canada to provide financing to students from over 200 countries. The MPOWER team primarily consists of former international students and provides students with personal financial education and career support to prepare them for their professional careers after graduation.

MPOWER is a Certified B-Corp and has been named a Great Place To Work, one of the best fintechs to work for and the best tech workplace for diversity. The company is hiring for various positions worldwide.

About BorderPass
BorderPass was founded by legal and tech experts with a mission to improve the immigration management and compliance process for learning institutions and international students by providing a software platform focused on student success and employment outcomes. BorderPass provides international students with access to Canadian lawyers and trustworthy, ongoing advice and tools for future employment and permanent residency goals. BorderPass also supports esteemed colleges and universities in remaining compliant with government mandates and standards of practice, through accurate data and visibility into the status of their international student body. For more information, visit borderpass.ca.

SOURCE MPOWER Financing