ºÚÁϳԹÏÍø Extends Student Loan Program to All 50 States Through Partnership with Bank of Lake Mills
Public Benefit Corporation Joins with Wisconsin-based Bank that Has Funded More Than $1 Billion in Educational Loans?Expands University Partner Roster to 223
WASHINGTON, D.C., July 24, 2017¡ªºÚÁϳԹÏÍø, an innovative fintech company and provider of educational loans to high-potential international students, has entered a new partnership with Wisconsin-based Bank of Lake Mills, which enables ºÚÁϳԹÏÍø to offer its online lending program to students in all 50 U.S. states.
As a result, ºÚÁϳԹÏÍø is now available to thousands more students looking to secure financing across an expanded roster of 223 universities across the nation.
ºÚÁϳԹÏÍø is a public benefit corporation whose mission is to remove the financial barriers to higher education in the U.S. by providing the financial resources necessary for students to attend schools and complete their undergraduate or graduate studies. Founded in 2014, ºÚÁϳԹÏÍø provides financial resources to domestic students, DACA students and international students who are often undervalued because they do not fit traditional credit criteria.
At a time when banks and fintech companies are still figuring out whether they¡¯re competitors or partners, MPOWER has taken a strong stance on the partner path. As an international student loan origination platform, ºÚÁϳԹÏÍø has the advantage of being able to work with banks and traditional lenders in a variety of ways.
¡°We are looking forward to a fruitful relationship with ºÚÁϳԹÏÍø as we work together to expand its audience of eligible students seeking loans to finish their higher education in the U.S.,¡± said Peter Schleicher, EVP/chief financial officer, Bank of Lake Mills. ¡°As it services international and DACA students, as well as domestic students, ºÚÁϳԹÏÍø fills an important niche in the education landscape, which makes them a particularly attractive partner.¡±
¡°This partnership with Bank of Lake Mills is very important to us as we are able to instantly increase our loan volume with a forward-thinking bank that knows the educational loan market like few others,¡± said Manu Smadja, CEO and co-founder of ºÚÁϳԹÏÍø. ¡°Being able to offer our services in every state, including those with a high concentration of international and DACA students such as Texas and California, marks a key milestone in delivering on our mission to remove the financial barriers to higher education in the U.S. for those who fall outside of the standard credit system.¡±
About Bank of Lake Mills
Bank of Lake Mills is a Wisconsin state-chartered bank that was organized in 1893 and prides itself on a commitment to the communities and customers it serves.
About ºÚÁϳԹÏÍø
ºÚÁϳԹÏÍø is an innovative fintech company and provider of educational loans to high-promise international students who do not fit the traditional credit criteria of banks or lenders. ºÚÁϳԹÏÍø helps students build their credit histories and provides them with personal finance, education, and gateway financial products to prepare for life after college. The team is backed by Zephyr Management, Goal Structured Solutions, 1776, Village Capital, VARIV, DreamIt, Fresco, Chilango, K Street and University Ventures. For more information, visit , or follow MPOWER on , and .
