Flywire announced today at the 2016 Arizona State University (ASU) GSV Summit that we are partnering with MPOWER, a public benefit corporation and start-up lender. This partnership will help bring new loan repayment options to the nearly one million international students who study in the United States each year.
As a public benefit corporation, MPOWER removes financial barriers to higher education in the U.S. by working with investors and universities to lend to high-potential students who are left out by traditional banks. In addition to providing students with access to the financial resources necessary to attend and complete college, MPOWER builds students’ credit histories, provides them with personal finance education, and offers gateway financial products to prepare them for life after college. For more information, visit mpowerfinancing.com.
Both MPOWER and Flywire were founded on a common principle: international student payments should be simple and transparent, from application to payment. Today, both organizations have joined forces to further support this vision, creating a seamless process for international students to repay loans in their local currencies.
Michael Davis, CTO and co-founder of MPOWER says “Our goal is to make the loan process as easy as possible for students. We want to provide options that meet our borrowers’ needs in every way. International students should have an option to pay in their local currencies, and Flywire helps us achieve that goal.”