Student financing companies have reported a “massive” surge in int’l student lending demand across the globe, in part because of Covid-19. Platforms including MPOWER, Leverage Edu and Prodigy Finance have all reported high demand.  

According to Emmanuel Smadja, chief executive officer of MPOWER, Covid-19 has created financial stress for a lot of families around the planet. 

“We’ve seen a massive surge in loan financing for international students”

He explained that people have less liquidity to pay for their (or their child’s) overseas education, and thus need to borrow more. 

“There has definitely been a surge in international student lending demand across the globe, particularly for digital platforms like MPOWER,” Smadja told The PIE News. 

“At a time when a lot of families around the planet are confined and bank branches are still shut down, digital lenders like MPOWER, which let you apply from the comfort of your home via your smartphone… have seen even more demand.”

Read more : Will Nott : The PIE News : 25 June 2020