The Process: How it Works:
- Apply for a loan directly on the MPower website.
- Prior to the start of the term, MPower will provide the university with a list of students with loan approvals.
- Trent University will confirm the invoice amount directly with MPower each term. This eliminates the student having to send their invoice to their relationship managers.
- When possible, MPower will ensure payment is remitted to the university by the university's payment due dates.
- Students check their account statement and if funding exceeds the invoice amount by up to $5,000.00, students can request a refund of this balance for their living expenses. (Note, refunding excess funding up to $5,000/term is only available to MPower students only).
- Request your refund by completing student accounts refund request form that is posted in the service hub in your myTrent portal.
- Funding is disbursed by EFT (electronic funds transfer). To receive your refund, enter your bank account information for your domestic bank account into the "Your Banking Information " icon that is found on your myTrent portal.
Questions and Answers:
What if the university hasn't confirmed my invoice with MPower?
Students are welcome to send a copy of their invoice, which is available from their account statement, directly to their relationship manager.
What if I've requested a refund for my living expenses but my request has been declined?
Confirm that you have a credit balance on your account statement. If you do not have a credit balance and require additional funding for your living expenses, please contact your relationship manager at MPower to discuss your funding needs.
What if Mpower requests my transcript but my account is restricted?
Send an email to student accounts with your request. We will work directly with MPower for this documentation.
What if I withdraw or graduate and there is money in my student account?
In accordance with our agreement with MPower, excess funding is returned to MPower to reduce your loan.
Can I receive my living expense refund if I am not registered in the current term?
No, if you are not a registered Student in the current term when you are requesting a refund, you are not eligible for a refund. Excess funds on your account are to be returned to MPower.