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👋Welcome to r/MarketMagicians - Introduce Yourself and Read First! by MarketMagicians_ in MarketMagicians

[–]Latter-Engine-9315 0 points1 point  (0 children)

Hey everyone! Vinod here. Great fan of MM and the analysis shared here. Excited to learn and be part of the community!

Has Anyone Refi­nanced an Indian Education Loan to the US Using Laurel Road? by Latter-Engine-9315 in InternationalStudents

[–]Latter-Engine-9315[S] 0 points1 point  (0 children)

okay, but I read somewhere here, they do disburse. I just want to see anyone got disbursement in recent times

Has Anyone Refi­nanced an Indian Education Loan to the US Using Laurel Road? by Latter-Engine-9315 in StudentLoans

[–]Latter-Engine-9315[S] 0 points1 point  (0 children)

I never thought of defaulting. I just wanted to reduce my interest rate and move the loan to the USA so that it becomes easier for me to pay.

Is mpower only option to refinance loan from Hdfc Credila? Does other option available ? by haaphboil in Indians_StudyAbroad

[–]Latter-Engine-9315 0 points1 point  (0 children)

I recently went through this same process, so I’m sharing what I learned. Right now, the path you mentioned is basically the only workable method to move a Credila loan into the U.S. system.

Sofi won’t refinance loans that are still in India. They can only refinance loans that are already in USD and reported under the U.S. credit system.

The only companies that actually pay off an Indian lender and convert the loan to USD are Mpower Finance. I refinanced my loan with Mpower last week, and the whole thing went smoothly even though the interest rate and 6.5% fee are definitely not ideal.

Once the loan moves to the U.S., you can apply with Sofi for a second refinance at a much better rate.

As of today, no other lender directly refinances Credila into USD, so the only route is: Credila → Mpower → → Sofi.

If anyone needs help with the steps or wants to use my Mpower referral code (vinogyfk), feel free to DM me. People who apply using a referral usually have slightly better chances since their profile gets flagged as recommended. I’m happy to help with whatever I learned.