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Loan Refinancing (USA)

Lower interest. More take-home.

Refinance your Indian education loan into the U.S. financial system and reduce interest while improving monthly cash flow—guided by upGrad.

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13% to 5%

Indicative Rate Cut

25 Lakhs*

Lifetime Savings

Cosigner

Not Required

US Credit

Score Generation

Why Refinancing?

Lower interest, reduced EMIs, and smarter long-term savings

Potential Savings
Up to ₹25 Lakh+
Optimise
US Credit Profile
Smooth Transactions
No extra costs
Asset Freedom
Collateral Release
Reduced Stress
Lower Monthly EMIs
Payment Stability
Fixed Interest Rates
Loan Optimization
Financial Efficiency
Tax Benefits
Post-Refinancing

How it works:

A simple, independent process:

Experience Refinance advantage with upGrad

Get ahead in savings by refinancing your loans to match your current needs

Repayment in 10 years @ 12.99%

Indian Loan Provider

₹1.06 Crores

Repayment in 10 years @ 6%*

US Loan Provider

₹73.5 Lakhs

USD
INR
Initial Loan Amount
Indian Loan
$50,000
₹45 Lakhs
Total interest accrued over 10 years tenure
$68,000
₹61 Lakhs
Initial Amount
US Loan
$50,000
₹45 Lakhs
Total interest accrued over 10 years tenure
$32,596
₹28.5 Lakhs
Average saving after refinancing
$25,404
₹32.5 Lakhs

Eligibility Criteria

Check academic, credit & financial requirements to determine your eligibility for our refinance options.

  • •Must have graduated with an Associate’s, Bachelor’s, or Graduate degree from an accredited university.
  • •The loan being refinanced must have been used for your education at a supported institution.

Have questions? Get your answers here

Everything you need to know about Loan Refinancing

The Basics & Savings

1. Why should I refinance?

Reduce your EMIs, total interest and financial stress, align repayment with your U.S. income.

2. Is refinancing the same as taking a new loan?

Yes. The new loan is taken specifically to close your existing education loan.

Eligibility & Liability

1. Who is eligible?

U.S.-based professionals with an active Indian education loan, valid visa (H1B, STEM OPT, L1, etc.), and stable income.

2. What if my Indian CIBIL score is low?

U.S. income, visa stability, and credit profile matter more.

3. Do I need a co-applicant?

No. Most U.S. lenders do not require a co-applicant.

4. Minimum work experience?

Minimum 3 months with your current employer.

5. Work authorization requirements?

24+ months validity: no minimum salary. Less than 24 months: minimum salary of $80,000.

Interest Rate & Savings

1. How much can I save?

Typically 5%–9% annually, translating to ₹10–25 lakhs+ over the loan tenure.

2. Are U.S. interest rates lower?

Generally yes. India: 10.5%–14%; U.S.: 5%–8%.

3. Will my EMI reduce?

Yes. Your EMI may reduce, your loan tenure may shorten, or both.

Process & Timelines

1. How long does refinancing take?

Typically, 10–21 days from application to disbursal.

2. Will my Indian loan close immediately?

Yes. Once the U.S. lender disburses funds, the Indian loan is fully closed.

3. Is there a prepayment penalty in India?

Usually no, but this is verified before proceeding.

Costs, Payments & Risk

1. Are there any upfront charges?

No application fee or prepayment charges. Some profiles may have a one-time processing fee.

2. Will refinancing affect my visa?

No. Your visa status is not impacted.

3. How will I repay the loan?

EMIs are paid in USD via your U.S. bank account.

4. What if I return to India?

You can repay through NRE/NRO accounts or international transfers.

Support and Guidance

1. Will I receive guidance throughout the process?

Yes. Full end-to-end support is provided—from evaluation to EMI setup.

2. Are my parents still liable after refinancing?

No. After refinancing, you become the sole borrower.

3. Is refinancing mandatory after moving to the U.S.?

No, but it is financially beneficial for most alumni.

4. Does MPOWER check credit scores from both countries?

Yes. Both Indian CIBIL and U.S. credit history are reviewed.

5. Can other loan types be refinanced?

No. Only education loans are eligible.

6. Can I skip the MPOWER step?

No. INR education loans must first be converted to USD through MPOWER.

Disclaimer

  1. This loan refinancing option is administered and powered by MPOWER Financing, an independent U.S.-based lending institution. The information provided is for general informational purposes only and does not constitute an offer, solicitation, recommendation, or financial advice. upGrad is not a lender, financial institution, advisor, broker, agent, or guarantor and does not provide loans, determine eligibility, influence credit decisions, endorse any lender, or assure approval, interest rates, savings, timelines, or outcomes. upGrad makes no representations or warranties regarding the accuracy, completeness, or continued availability of the information and is not obligated to update the same.

  2. All refinancing products are offered solely by MPOWER Financing or the respective U.S. lender, based on their independent assessment of the applicant’s credit profile, income, visa status, documentation, and other criteria. All loan terms, interest rates, eligibility requirements, fees, processing timelines, and governing jurisdiction are determined exclusively by the lender, are subject to change without notice, and may be modified, suspended, or discontinued at the lender’s discretion.

  3. Any interest rates, savings illustrations, EMI reductions, timelines, or examples mentioned are indicative and for illustration purposes only. Actual outcomes may vary based on individual borrower profiles, lender policies, market conditions, and other factors. Loan approval, refinancing benefits, or savings are not guaranteed. Refinancing has no impact on visa, immigration, or residency status. Applicants are advised to conduct their own due diligence and seek independent financial, legal, tax, or professional advice before proceeding.

  4. Applying for this option is entirely voluntary, and learners may choose to continue servicing their existing loans independently. upGrad’s role is strictly limited to facilitation and information sharing. upGrad shall not be responsible or liable for any decisions, actions, omissions, delays, service deficiencies, rejections, losses, or disputes arising between applicants and the lender.

  5. By proceeding, applicants expressly consent to the sharing of relevant personal and financial information with the lender in accordance with applicable data protection and privacy laws. All refinancing is subject to the terms and conditions of MPOWER Financing and/or the respective lender, which shall prevail in case of any inconsistency.