MPOWER vs Prodigy Student Loan Apps In 2025

Hi guys, welcome back to my YouTube channel. Many of you have been asking me about the MPower Finance Student Loans and the Prodigy Finance Student Loans. Most of the questions revolve around the difference between these two. How can these two loans benefit you as an international student? their advantages, their disadvantages, and many others. Based on my own research, I am simply going to provide you with the information I have gathered. Please, guys, I don't give financial advice. Consult your financial advisor for any professional advice you may need. I'm sharing this information with you because I conducted my own research. In addition, after watching this video, I would advise you to conduct your own research. so you can understand it better according to your own needs. If you're visiting my channel for the first time, please don't forget to subscribe to my YouTube channel. Click the notification bell next to it so you'll be notified whenever I upload a video like this one. Before we continue with today's video, I would advise you to get your pen and your book. So you can write these down and do your own research. I am going to provide you with a detailed comparison between the MPower Finance Student Loans and the Prodigy Finance. The first thing I will be discussing is the eligibility criteria. For the eligibility criteria, with MPower Finance, you do not need collateral. No consignor is required, and no credit history is needed. Secondly, MPower Finance Student Loans are available only to certain schools in the United States and Canada. So I always say this in my videos: before you apply for their loan or before you apply for any admission, As long as you do not have the finances to cover your admission, please go to their website. www.mpowerfinancestudentloans.org So you can check out the schools they support. And they only support schools in the U.S. and in Canada. Then, you must be within two years of graduation. You can't go for a two-week course and expect them to give you a loan. You can't be pursuing a five-year program and expect them to grant you a loan. You can't be pursuing a three-year course and expect them to give you a loan. You must therefore be within two years of graduation, that is, between one and two years. So if you fall outside the category I've listed, I'm sorry, they cannot grant you a loan. Then next, they mostly support students going to study STEM courses, business courses, health courses, and public policy courses. But until now, they used to support all courses, like all programs. But due to visa requirements and the associated procedures and changes, they had to make some adjustments. So if you do not fall within this category, I'm sorry, you'll have to go elsewhere to seek a loan. Finally, Empower Finance evaluates your future earning potential, not your financial background. So you can have all the money in the world and still lack future earning potential, and they won't approve your loan. Ultimately, they want you to be able to pay them back. It's not just about providing you with the loan for your studies; they want to be able to get their money back. That is why they take your future earnings into account. That is the kind of job you'll be able to achieve or the kind of job you'll be able to secure after you graduate. That is their main, primary requirement. So if you do not fall within this category, I am sorry, they cannot offer you a loan. Don't waste your time. Then the next one is for Projective Finance. So Projective Finance is also similar to Empower. You can take this loan without any concern or collateral. They support students going to the UK, the US, and some European countries. And next, they also require you to already have an admission letter before you apply for their loan. Finally, they support highly ranked universities. So if what you're looking for isn't in their category, I advise you to just go elsewhere to find the loan. So the next category on my list is the Loan Amount and the Loan Disbursement. The acceptable loan amount and the timing of its disbursement are separate matters. For Empower Finance, their loan amount can go up to $100,000. And guess what, guys? You may withdraw up to $50,000 per academic year. So the last thing is that Empower sends your tuition directly to your school. So this one's for those of you who've been asking me, will Empower fund your flight tickets? Will Empower pay your tuition deposit? By the way, the tuition deposit is the money you pay to secure your seat, not your tuition. It's a deposit you pay, and you can get that deposit back if you decide not to return to the school, at least for some schools. But Empower will not cover that cost. They will not cover your tuition deposit or your living expenses. Figure that out yourself and let Empower focus on your tuition. Then the next is Prodigy Finance. For Prodigy Finance, you can borrow up to 100% of your total tuition. They also provide you with living expenses and tuition. So if you're considering this, I advise you to go with Prodigy Finance. But if you don't mind the tuition deposit and living expenses, you can go for Empower. Yes. Also, Prodigy Finance pays directly to your school. So there's no way you can get flight tickets. Yes. Then comes the interest rates. This one is very, very interesting. I would advise you to go to their website and check this out for yourself. Based on my own research, Empower's finance interest rate is fixed. While Prodigy Finance's interest rate is not fixed. It can go up at any time. For Empower, as long as you have received a loan, they've disbursed it to your school, You will know the exact amount you will be paying each month. So it's settled. Next on my list is the repayment term. I said this before in one of my videos. Before you land, as long as your school fees have been paid to your school, and you tell them, okay, or do you want to relax and gather everything else, and say, oh, let me just wait until the end of the month to reach, Your interest rate has already started accruing. As long as your tuition has been paid to your school, Whether you have started school or not, whether you have resumed or not. For Empower Finance, by the way, Your interest rate starts accruing before. That applies to the interest rate as well. Then, after you graduate, you will receive a six-month grace period. Then, after the six-month grace period, I believe this grace period is meant for you to use in order to find a job, Get yourself together and everything else. Then, after the grace period, you will begin paying your full amount. And they expect you to repay it within 10 years. So for those of you asking me, or those of you saying you're scared, What are you afraid of? Ten years is a long time to repay. And I have a question. Someone asked me, how I'm going to repay it once I'm done studying. I have to come back? What if I don't get a job in my home country? Like, why do you want to? Anyway, that's between you and yourself. I don't know. Then also for Positive Finance, Their interest rate also applies during the time you are in school. And then they also give you a six-month grace period to get yourself together. And their loan repayment period is between 7 to 20 years. So you have all the time in the world to make it up. And for some people, when they see something like this, They become relaxed. But when it comes to Positive Finance, Their interest rates can fluctuate. So if you are taking out Positive Finance student loans, Please hurry up and pay me back. The next is the application process and customer support. Everything about finance is perfect. Like, yeah, it's perfect. They can approve your student loan in as little as 10 minutes. I did it for someone around 3 a.m. that night. The next day, I woke up and checked my email. I checked my email and found the acceptance letter sitting there. That was how fast it was. They can approve your loan very quickly. And recently, Empire just restructured their terms and conditions. But before they processed it, because they sent us a notification that they were going to process new terms and condition, and it should take effect on the 21st of May, I think. But guess what? Someone applied before they made the change that night for a different program. Because they have changed the program, they are now accepting it. They lent that person money that night. So the Empire is that fast. They are really fast. 100% online. Customer support is superb because they are always there for you. Communication is like this, back to back, back to back, because they are there. They want to help you get a loan. They want you to take out a loan. They are always available, especially if you call them around 4 p.m. due to their time. Most of them are in Canada. Some of them are in the U.S. But mostly by 4 p.m. They are there. Always there. Communication—they are there. The reason I'm saying this is because I have experiences with them. I'm an ambassador of Empire Finance, of course. I've helped a lot of people get loans, obviously. That's why I know them so well. They are there. Projective Finance may take up to two to three weeks to approve your loan. It is 100% online. The last on my list is the benefits of each one of these loan apps. or loan companies I have mentioned gives you. They are all excellent. Both of them are excellent. If you can't manage this one, I advise you to go for the other one. Both are good. Depending on your own needs, you may apply for any one of them. If you can't pay within 10 years, if you feel 20 years is acceptable, Please apply for Projective Finance. If you feel that 10 years is acceptable to you, please proceed with Empire Finance. If you are looking for schools in the U.K., Australia, Canada, Projective Finance is your school. If you're looking within Canada and the U.S., Empire Finance is your school. Both schools are excellent. If you don't have a choice, then these are your options. And I advise you to go for any one of them. The last thing I'm talking about is the benefits. Empire Finance offers scholarships to students. especially women pursuing STEM courses, refugees, and other citizens and global citizens. Empire also offers a referral program. Once I refer you to Empire Finance, I receive a bonus, a reward for doing so. And you, who are being referred by me, also receive a bonus for it. So it's a two-way thing. Why doesn't Projective do that? Then Empire also helps with your credit building. So in case you do not have a credit score at present, You may still qualify to take out a loan. And if you have a credit score and your credit score is good, You may still qualify to take out a loan. But what if your credit score is poor? You need to improve your credit score before you apply for the loan. Don't think it's because you're taking loans from Nigeria, It won't affect you. Empire Finance uses your credit score to approve your loan. So if your credit score is poor and you are taking out loans from any of these In Nigeria, companies will reflect this in your credit score. Even if you are withdrawing money from your bank and you are not repaying on time or you didn't even pay back at all, It will affect your credit score. Take your time and repay this loan so your credit score can return to normal. And they can lend you money. Once they feel that your credit score is acceptable and improving gradually, They will give you the amount they feel would not pose too great a risk for them. That covers everything I believe I've discussed. Then Trinity Finance, They provide resources and alumni network benefits for your school. They are also strong in the UK and in Europe. That covers everything I wanted to say about the two loan companies. Most of you have asked me so many questions. I hope I have answered your questions. And if I haven't, please visit their website and conduct your own research. As I mentioned, I am not a financial advisor in any way. Go to your financial advisor and seek professional advice. I am not a professional. I am a content creator sharing information with you based on my own research. Please, I beg you, do your research. Don't come and say, Susan said Empower will give me a loan if I have a bad credit score. Or will Empower lend me money if I'm pursuing a history program? No, I did not say that. I provided it based on my research. And for the purpose of this video or for the purpose of your own research, I will be posting the links to these companies in my description. And if you feel free and you want to be so generous, or if you need my help one-on-one, Want me to help you apply for the loan? or do you want me to consult for you, Please click on the link in the description. In this way, I will be able to earn a commission for referring you. This has nothing to do with you. You will also receive your own percentage for referrals. And guess what? I work with them. I am an ambassador with them. Your application will be faster, and I will work with you more quickly than you. So I hope you all have a nice day, guys. Goodbye.