For many bright students from around the world, the cost of studying and living in the U.S. remains largely unaffordable. While the overall costs of a college degree in the U.S. have gone up for all students, international student face a unique combination of barriers which include often coming from less wealthy countries; of not being able to easily work in the U.S.; and not being eligible for financial aid or student loans the way American students are. Moreover, scholarships for international students are few and far between. How do we solve the problem of affordability so that talented students can pursue their educational dreams? This episode’s guest, Emmanuel “Manu” Smadja has been thinking about this very question for several years, from the time that he first came to the U.S. as an international student. An experienced management consultant turned FinTech entrepreneur, Manu is the Co-Founder, Chairman and CEO of MPOWER Financing which provides loans to international students who might not otherwise be eligible for loans in the U.S. or even their home country. MPOWER enables high-promise international and DACA students to get an education across top universities in the U.S. and Canada.
Manu's decision to co-found MPOWER Financing in 2014 was inspired by his own financial struggles as an international student in the US. Prior to that, Manu spent nearly four years at McKinsey & Company as a consultant and subsequently an engagement manager serving financial services companies, development banks, and central banks across Europe, the U.S., and Africa. He holds an M.B.A. from INSEAD and earned an M.S. in Systems and Information engineering as well as B.S. in Computer Science & Cognitive Sciences from the University of Virginia.
Episode Themes:
What are the challenges that international students face in trying to finance their education in the U.S.?
Can market-driven solutions and social entrepreneurship solve the problem of financial accessibility for international students?
How personal struggles and family experiences can inspire founders like Manu to find solutions to enduring challenges.
What role can international student loans play in increasing access for international students and having social impact?
Why female students are at a greater disadvantage when needing to finance their education and what MPOWER is doing about it
The immigration challenges that international students face in the U.S. and why it is hurting the country and its competitiveness
Links to resources from this episode:
MPOWER Financing's social impact: https://www.mpowerfinancing.com/about-us/social-impact/
Manu’s Smadja’s NASDAQ blog post: The U.S. doesn't have a labor shortage, it has an immigration shortfall
Be sure to check out these other resources!
My book: America Calling: A Foreign Student in a Country of Possibility
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Twitter: @rajikabhandari
Facebook: @authorrajikabhandari
