International student success story: Financing dental school in the U.S.
Several years ago, Nathalia was an international student from Brazil, pursuing a dental residency at the University of Michigan. All was going well in her studies until she realized she needed additional funds to cover her tuition. It took some time to find a solution, but Nathalia’s determination helped her find the funds to finish her program. Her story is a testament to the strong spirit of international students in pursuit of education.
Navigating financial challenges as an international student
After her first year of dental residency, Nathalia knew she wouldn’t have enough money to continue her education, so she decided to apply for a loan from a U.S. bank.
Unfortunately, this decision led to a disappointing discovery – international students have limited options when it comes to educational loan financing in the United States. Most of the banks Nathalia approached require a cosigner before granting student loan financing. A cosigner, typically a family member or friend, plays a major role in the loan application process and needs to be a U.S. permanent resident or citizen. Cosigners vouch for the student’s ability to repay the loan and agree to assume financial responsibility if the student faces repayment challenges.
Finding a qualified cosigner for an educational loan was nearly impossible for Nathalia and added more stress to an already stressful situation.
“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 break from her program
Faced with these financial barriers, Nathalia decided to temporarily pause her studies. She returned to her home in Brazil, determined to work and save enough money to cover her tuition.
However, she soon realized her savings would be insufficient to fund her entire education. Nathalia was frustrated and afraid she wouldn’t be able to finish the dental program she had started and enjoyed. She started looking for other ways to secure the funds she needed to continue her education.
Finding a solution to education loan financing
After exhausting every possibility, Nathalia’s story took a remarkable turn. She reached out to a contact in the U.S. Congress who shared a list of 20 institutions known for assisting with educational loan financing. Nearly every company rejected her application for not meeting their eligibility requirements, including not having a cosigner or U.S. residency. Only one out of the 20 lenders offered reassuring support: MPOWER Financing.
MPOWER: Making student loan financing a reality
Nathalia’s experience with MPOWER has had a transformative impact on her life. With MPOWER’s support, Nathalia was able to continue her dental residency at the University of Michigan and gain top-notch skills to treat her future patients. Today, Nathalia is excited to contribute to research on oral diseases, a field in which she aspires to make a significant impact.
Inspiration for other international students
Nathalia heartily recommends MPOWER to other international students facing similar financial challenges:
“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 exemplifies the spirit of international students who strive to overcome the hurdles in their way. It also highlights the critical role organizations like MPOWER play in helping students worldwide pay for college.
Applying for an MPOWER loan is an easy and straightforward process. Check if you’re eligible for a loan today!
