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Financing your MBA - International Students

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Re: Financing your MBA - International Students [#permalink] New post 04 Nov 2012, 14:08
ace312 wrote:
Just keeping this thread active for a second year in a row, thanks first to the OP for bringing this topic up. I was curious to know if you guys had any info on how an international applicant's US credit history impacted securing student loans from the school's credit unions. My background is I am currently on H1B and I have lived in the US for a good 10 years. I have a good credit history. Does this impact the credit rate I might receive should I go for a US loan?

Also, I think this goes without saying that it is important to check if a school offers a loan without co-signer prior to applying. From what I heard last year, McCombs Austin does not offer student loans.


I am not an expert to this but from what I know, you cannot get the US loans because you are not a citizen/permanent resident. If I recall correctly, H1-B visa is not classified as permanent resident but you would know that better than me by now.

However, If you could find a co-signor, I think that you would get a better rate than an international student with the same co-signor, and that is so because of your credit-history. You should be able to easily find it out though, just try contacting any bank in the US that offers grad school loans.

Hope it helps
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Re: Financing your MBA - International Students [#permalink] New post 11 Jan 2013, 00:45
Hi I am an Indian thinking about doing MBA in US . I have a few questions which are making me kind of tense . Can you please help me answer them .

What is the current scene for Indian Students studying in (M7 +Next 8) Business Schools in US?Are they able to get good jobs after MBA ?How much role does Visa sponsoring play in final FT Recruiting for Indians there who doesn't have work permit/green card ?Is the competition tough for foreign graduates (~around 40% of the class I guess ) as the firms may have limited quota for foreign students.
How are the job prospects for MBA graduates in the current market ?(for foriegn students especially )

I am planning on my MBA and I was shortlisting schools .I would like to know your honest opinion on this.Is it worth taking 100k + loan and apply to US MBA schools.I don't have that kind of money but I am willing to take risk if it really worth?
and approximately in How much time an average MBA graduate is able to repay that loan .
THANKS for your help answers in advance :)
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Re: Financing your MBA - International Students [#permalink] New post 18 Nov 2014, 21:37
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Hi everyone, let me add some new information into this topic.

I am an international MBA student, currently on my first year at Michigan Ross, where up until recently there was no loan option for internationals. And, as you know, private financing institutions usually require US co-signers, so this is frequently a problem to most of us.

But now, Prodigy Finance is offering possibility of loans to international students at Ross and many other schools without requiring an US co-signer.
The loans are funded by a community of alumni investors, and by other investors who wish to support higher education.

I am taking a loan from Prodigy, and I am also an ambassador of the program, so I will be more than happy to share more information with you.

Here goes some quick info about Prodigy:
- 150 nationalities covered
- Competitive interest rates
- No collateral, guarantees, or co-signers required
- Easy online process
- No repayments while you study
- Excellent customer service

Currently, Prodigy has programs at Cambridge Judge Business School, Cass Business School, Columbia Business School, Cranfield School of Management, ESMT, INSEAD, London Business School, Manchester Business School, Oxford Saïd Business School, and Vlerick Business School. And they are expanding and adding new programs, so please check the website!
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Re: Financing your MBA - International Students [#permalink] New post 10 Mar 2015, 19:00
RHB wrote:
These are the details of Tucks 2011 - 2012 loan program for internationals. Fingers crossed that they don't mind me posting this. Also, the loan program seems to be independent from scholarships, I was awarded a reasonable scholarship and I was still allowed to take the maximum amount out in loans.

• Individual maximum amount varies and is determined by Tuck’s Financial Aid office by performing needs analysis
• Finance up to the cost of tuition and mandatory fees (not to exceed $57,000 annually)
• Apply once and secure financing for your entire graduate studies with a unique Line of Credit structure
• Zero origination or pre-payment fees
• Variable interest rate based on Prime Rate plus 4.00% for student only
• 0.50% interest rate discount for borrowers with an approved U.S. co-signer
• Co-signer not required
• Interest is added to principal upon entering repayment
• Flexible repayment options, including full deferment of payments while in school
• 20 or 25 year repayment period, depending on loan balance – or repay early at any time with no penalty
• 6 month grace period prior to entering repayment
• 0.25% rate discount for automatic electronic payment during repayment
• Optional graduated repayment which provides lower payments during the first two years of repayment
• 24/7 Call Center and Online Application
• Loan is granted and held by your not-for-profit credit union – a lender relationship you can trust

Tuck will determine the maximum line of credit amount the student may be eligible to borrow. This is determined by a needs analysis based on a variety of factors, including cost of the program, their ability to contribute, debt levels consistent with successful repayment, and availability of funds. The school reserves the right to limit or decline educational loans or lines of credit on the basis of a student’s overall debt burden, credit history, or other relevant factors.

Posted from my mobile device Image


Thanks for such detailed response. Tuck provides loans for tuition fees and mandatory fees. What about other expenses such as room etc?
Any lenders who have tie up with Tuck?
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Re: Financing your MBA - International Students [#permalink] New post 10 Mar 2015, 19:04
Hello Everyone ,
It seems the post is not active for a long time . I wanted to know about some private funding options for international candidates.
Besides,Can some please post updated list of colleges which offer loans to its candidates without us cosigner?
Preferably categorize colleges in following categories.

1. Full fees+expenses( expenses like room) for international candidates
2. Mandatory fees only for international candidates
3. Can be fully funded but from private lenders.


Please do keep post alive. It's really beneficial to international candidates.
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Re: Financing your MBA - International Students [#permalink] New post 19 Mar 2015, 05:45
AverageGuy123 wrote:
Hello Everyone ,
It seems the post is not active for a long time . I wanted to know about some private funding options for international candidates.
Besides,Can some please post updated list of colleges which offer loans to its candidates without us cosigner?
Preferably categorize colleges in following categories.

1. Full fees+expenses( expenses like room) for international candidates
2. Mandatory fees only for international candidates
3. Can be fully funded but from private lenders.


Please do keep post alive. It's really beneficial to international candidates.


Hi AverageGuy123, Just a suggestion- might be helpful to create a new thread for 2015 since policies keep changing every year.
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Re: Financing your MBA - International Students [#permalink] New post 23 Mar 2015, 08:30
Hi there,

Here is my situation (quite complicated) and I would like your help, advice, tips, comments.
I am Portuguese. I am currently living and working in Canada (Montreal). I came here to do my undergraduate and got a job in Finance just after (very recent).

I have been accepted at MIT Sloan MBA program but I do not know how to pay for not only the tuitions fees but also the live expenses of Boston.

Here is a quick summary of my situation:
- My Family is very very poor, so not an option at all
- I have few thousands of dollars (canadian) in my account but nothing too fency
- The Portuguese Banks (due mostly to the economic conditions) are not able to help me (No banks is financing abroad studies)
- I am not a permanent resident in Canada (work permit)
- I have no co-signer for the loan application
- I do not have historical credit (Cultural habits), I always pay cash (just a credit card)
- Not sure that my employer is willing to pay for such a cost

Should I reconsider going to a MBA (by the way it has always been my dream and it is my number goal).

Do you know other ways? how can I get a student loan in Canada or the US ?

am I screwed ?

Thank you for your time and consideration,
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Re: Financing your MBA - International Students [#permalink] New post 23 Mar 2015, 11:15
Mortedza wrote:
Hi there,

Here is my situation (quite complicated) and I would like your help, advice, tips, comments.
I am Portuguese. I am currently living and working in Canada (Montreal). I came here to do my undergraduate and got a job in Finance just after (very recent).

I have been accepted at MIT Sloan MBA program but I do not know how to pay for not only the tuitions fees but also the live expenses of Boston.

Here is a quick summary of my situation:
- My Family is very very poor, so not an option at all
- I have few thousands of dollars (canadian) in my account but nothing too fency
- The Portuguese Banks (due mostly to the economic conditions) are not able to help me (No banks is financing abroad studies)
- I am not a permanent resident in Canada (work permit)
- I have no co-signer for the loan application
- I do not have historical credit (Cultural habits), I always pay cash (just a credit card)
- Not sure that my employer is willing to pay for such a cost

Should I reconsider going to a MBA (by the way it has always been my dream and it is my number goal).

Do you know other ways? how can I get a student loan in Canada or the US ?

am I screwed ?

Thank you for your time and consideration,


No buddy you're not screwed at all. There are companies who offer loans to international students. Have you heard of Prodigy finance? Its just one of those companies. Secondly I believe MIT Federal Credit Union provides loan assistance up to $170,000 for students enrolling at MIT Sloan program without the need for a co-borrower.

Hope this helps
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Re: Financing your MBA - International Students [#permalink] New post 30 Mar 2015, 15:53
BrainFog wrote:
Mortedza wrote:
Hi there,

Here is my situation (quite complicated) and I would like your help, advice, tips, comments.
I am Portuguese. I am currently living and working in Canada (Montreal). I came here to do my undergraduate and got a job in Finance just after (very recent).

I have been accepted at MIT Sloan MBA program but I do not know how to pay for not only the tuitions fees but also the live expenses of Boston.

Here is a quick summary of my situation:
- My Family is very very poor, so not an option at all
- I have few thousands of dollars (canadian) in my account but nothing too fency
- The Portuguese Banks (due mostly to the economic conditions) are not able to help me (No banks is financing abroad studies)
- I am not a permanent resident in Canada (work permit)
- I have no co-signer for the loan application
- I do not have historical credit (Cultural habits), I always pay cash (just a credit card)
- Not sure that my employer is willing to pay for such a cost

Should I reconsider going to a MBA (by the way it has always been my dream and it is my number goal).

Do you know other ways? how can I get a student loan in Canada or the US ?

am I screwed ?

Thank you for your time and consideration,


No buddy you're not screwed at all. There are companies who offer loans to international students. Have you heard of Prodigy finance? Its just one of those companies. Secondly I believe MIT Federal Credit Union provides loan assistance up to $170,000 for students enrolling at MIT Sloan program without the need for a co-borrower.

Hope this helps



It does help BrainFog, thank you very much. I will look more for these solutions.
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Re: Financing your MBA - International Students [#permalink] New post 06 Apr 2015, 15:25
Hello everyone - I'm so happy to have found this forum!
So I have a bit of a different question for this forum, but I hope you can still help me and hopefully its of interest to some of you.

I want to start my MBA at the University of Bradford, UK - its a long distance MBA. I live in the US but I'm currently on a Work VISA and in the Process for my application for my Green Card (supported through my employer) - I'm a German citizen. The reason why I'm looking into this is- - its accommodating to my work schedule; its triple accredited; I can do courses at various international universities all over the globe (for free, only the travel has to be paid) and last but not least the price.

Now here is my problem - Sally Mae sees me as an international student and will not support me for an international school... and other banks don't have an affiliation with the University of Bradford...

Has anyone an idea how I could solve this???

Many thanks in advance
Best
Julianna
Re: Financing your MBA - International Students   [#permalink] 06 Apr 2015, 15:25

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