Nathalia was a Brazilian international student attending the University of Michigan for a dental residency a few years ago. Her studies were proceeding smoothly until she realized she would require more money to pay for her tuition. Although it took some time to figure out a solution, Nathalia’s perseverance enabled her to secure the funding from student loans to complete her program. Her tale of “How Student Loans Transformed Lives” serves as a tribute to the perseverance of overseas students who are determined to further their education.
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Navigating financial challenges as an international student
Nathalia knew she wouldn’t have enough money to continue her education after her first year of dental residency, so she decided to apply for a student loan from a U.S. bank.
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Sadly, this choice resulted in the depressing realization that there aren’t many options available to international students looking to finance their education loans in the US. When Nathalia approached most banks, they wanted a cosigner before they would finance her student loans. An important part of the loan application process is a cosigner, who usually has to be a friend or family member and must be a citizen or permanent resident of the United States. Cosigners attest to the student’s ability to repay the loan and promise to step up financially if the student has repayment difficulties.
Nathalia was in a stressful situation, which made it even more difficult when she couldn’t find a suitable cosigner for an education loan.
“I was really sad and frustrated that I would not be able to keep learning and doing the program I enjoyed so much because of money,” Nathalia says.
An unexpected pause in her program
Nathalia decided to temporarily put her studies on hold in response to these financial obstacles. Determined to work and save enough money to pay for her tuition, she went back to her native Brazil.
She quickly discovered, though, that her savings would not be enough to pay for her entire education. Nathalia had begun and enjoyed a dental program, but she was frustrated and worried she wouldn’t be able to complete it. She began searching for alternative means of obtaining the necessary funds to carry on with her education.
Finding a solution to education loan financing
When all other options were exhausted, Nathalia’s story took an unexpected turn. She contacted a contact in the US Congress, who provided her with a list of 20 universities that are well-known for helping with student loan financing. She didn’t have a cosigner or residency in the United States, so almost all of the companies rejected her application because she didn’t meet their eligibility requirements. Out of the twenty lenders, only one provided comforting assistance: MPOWER Financing.
MPOWER: Encouraging the financing of student loans
Nathalia’s life has changed significantly as a result of her involvement with MPOWER. Nathalia was able to complete her dental residency at the University of Michigan and acquire excellent skills to treat her future patients, thanks to MPOWER’s support. Nathalia is thrilled to be working on research on oral diseases today, a field in which she hopes to have a big influence.
Inspiration for other international students seeking Student loans
For other overseas students who are having similar financial difficulties and seeking student loans, Nathalia highly recommends MPOWER:
“I hope my story can serve as a source of motivation for students all around the world to pursue their dreams. They should know that they can count on MPOWER to turn those dreams into reality.”
Nathalia’s journey serves as an example of the perseverance of international students who want to get past obstacles in their path. It also emphasizes how MPower student loans transformed lives and support students all over the world with their college expenses.
Applying for an MPOWER loan is an easy process. Check if you’re eligible for a loan today!
Credit: MPower Financing
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