MPOWER Financing, a mission-driven fintech firm and a leader in international student financing, announced that both Kroll Bond Rating Agency (KBRA) and Morningstar DBRS have affirmed their credit ratings on the MPOWER Education Trust 2024-A securitization. The affirmation reflects the transaction’s solid performance and positive financial outlook.
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MPOWER’s 2024-A securitization totaled $215.2 million and was backed by fixed-rate loans issued primarily to graduate international students at top U.S. universities. The transaction marked the first securitization of international student loans by a U.S.-domiciled private student lending platform. Building on that milestone, MPOWER completed its 2025-A securitization earlier this year, issuing an additional $313.2 million in loans.
In its review, Morningstar DBRS reaffirmed ratings on three classes of notes from the 2024-A transaction, citing the strong capital structure, robust credit enhancement, and stable loan performance. The analysis highlighted low loss levels and steady delinquency and forbearance rates. Similarly, KBRA confirmed that the credit enhancement in place is sufficient to support its affirmed rating on the Class A notes.
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“Our 2024-A transaction collateral is performing within expectations, which demonstrates the strength of our lending platform as well as our underwriting and servicing capability,” said Jatin Rajput, Chief Financial Officer of MPOWER Financing. “With our 2025-A transaction now completed, we’re confident in our ability to be a programmatic issuer, creating continued opportunities for international students.”
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The affirmations further validate MPOWER’s growing role in reshaping student lending, offering accessible financing solutions for talented students around the world while maintaining strong financial performance for investors.
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