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Non-US internationals: How do you finance your FT MBA?

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Non-US internationals: How do you finance your FT MBA? [#permalink] New post 11 Jan 2008, 05:53
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There is thread about financing your MBA on another board, but it discusses mainly options for US citizens.

How do other people go about financing their MBA? Are all of you so loaded that you can pay for it with savings?

Appreciate any thoughts.
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Re: Non-US internationals: How do you finance your FT MBA? [#permalink] New post 11 Jan 2008, 12:57
Part savings part loan for me. It really depends on where I get in...
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Re: Non-US internationals: How do you finance your FT MBA? [#permalink] New post 11 Jan 2008, 13:17
I intend to make use of the International Student Loan Program (ISLP). http://www.iefc.com/intl/intl_islp_grad_tc.cfm

I have relatives in US who are permanent residents,who can be my co-signers, and the interest rate is ridiculously low compared to private loans in my country.

Most of the schools i have applied to are in the eligible school list.
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Re: Non-US internationals: How do you finance your FT MBA? [#permalink] New post 11 Jan 2008, 13:25
I can fund it myself if its a cheaper course, but other than that, it will have to be a bank loan or a loan which a school can source for me
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Re: Non-US internationals: How do you finance your FT MBA? [#permalink] New post 26 Jan 2008, 14:28
US schools all have excellent loan systems. You don't realize how good these are, until you look at Eurpoean schools.
European schools are not even close to US schools in offering financing options.

As as as I'm concerned, I'll pay up with some savings and the rest on a loan.
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Re: Non-US internationals: How do you finance your FT MBA? [#permalink] New post 17 Jul 2008, 19:12
most schools have some financial aid.
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Re: Non-US internationals: How do you finance your FT MBA? [#permalink] New post 18 Jul 2008, 04:24
rk4g63 wrote:
US schools all have excellent loan systems. You don't realize how good these are, until you look at Eurpoean schools.
European schools are not even close to US schools in offering financing options.

As as as I'm concerned, I'll pay up with some savings and the rest on a loan.


While I agree that most European schools don't offer attractive loan options, there are some schools like LBS that have agreements with top banks to which you can apply for financing. Not a guarantee that you will get financing, but if you don't have solid prior work history or proof of modest earnings then you will find it hard almost anywhere to access outside financing.

As far as my school St. Gallen goes, I received a full loan (minus the 6000 CHF deposit) directly from the university to cover the tuition for the year. This was only for non-EU citizens and my terms were 5% p.a. with payback over 36 months (beginning 6 months after graduation), whereas EU/Swiss citizens can access direct loans at a slightly better 4% p.a. from Credit Suisse. This was the only European school I ever came across during my MBA research and application process that actually lends directly to the student.
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Re: Non-US internationals: How do you finance your FT MBA? [#permalink] New post 18 Jul 2008, 04:29
toDoorNot wrote:
I intend to make use of the International Student Loan Program (ISLP). http://www.iefc.com/intl/intl_islp_grad_tc.cfm

I have relatives in US who are permanent residents,who can be my co-signers, and the interest rate is ridiculously low compared to private loans in my country.

Most of the schools i have applied to are in the eligible school list.


I wish you the best of luck with that, because the ISLP has been terminated. TERI, which used to guarantee the loans for this program, filed for Chapter 11 Bankruptcy protection, and subsequently all the lenders pulled out from lending in this particular student loan market segment.

(IEFC must not be doing a good job of cleaning up their webservers)

http://www.iefc.com/intl/intl_index.cfm

International Students

As of April 18th, 2008 our private loan lenders stopped accepting new applications for the private International Student Loan Program (ISLP) and CanHELP loan programs. We are actively working to develop alternative programs to support the borrowing needs of international students, and will post new information as it becomes available.

If you had an ISLP or CanHELP loan in process before April 18, 2008 and would like to check on its status, please contact us at :

US and Canada: 888 296 4332
UK & Europe: 00 800 1270 1270
Australia: 00 11 800 1270 1270
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Re: Non-US internationals: How do you finance your FT MBA? [#permalink] New post 21 Jul 2008, 01:39
I am really wondering how many internatioanl students will have to pull out of their MBA programs before they begin, because they now have trouble financing them.

I am lucky to have parents who can give me a loan at a great rate, and to have the strong euro, but what about students from other countries? They will have to accept double-digit interest rates, and that in a horrible economy. Not something to look forward to.
Re: Non-US internationals: How do you finance your FT MBA?   [#permalink] 21 Jul 2008, 01:39
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