Student lender MPOWER secures $100m from Goldman Sachs
Educational loans provider, MPOWER Financing, announces its $100 million loan facility from Goldman Sachs to finance international student loans.
The loan brings Goldman Sach’s total loan financing capital for MPOWER to $200 million, giving the Washington, DC-based student lender a greater ability to build student’s credit histories, providing them with personal finance education and career support to prepare them for life after school.
MPOWER works with more than 350 universities and colleges across the US and Canada, leveraging both overseas and domestic credit data to serve high-promise international and DACA students.
“The number of international students coming to North America has more than doubled over the past decade, and with our borderless financing we can enable even more bright minds to come,” says MPOWER CEO and co-founder, Emmanuel Smadja.
He adds: “We’re excited to work with a mix of top commercial and impact-focused investors to ensure that bright students from around the world can fulfill their educational aspirations.”
The loans provider believes its partnership with Goldman Sachs will bring them closer to “a new, global, impact-focused asset class”.