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Barclays loans disappeared- SBS

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Senior Manager
Senior Manager
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Joined: 25 Nov 2006
Posts: 333

Kudos [?]: 72 [0], given: 0

Schools: St Gallen, Cambridge, HEC Montreal
Barclays loans disappeared- SBS [#permalink]

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New post 06 Nov 2008, 09:39
The Barclays loan have disappeared from SBS website.

It's still in google cache:
Quote:
SBS/Barclays Loan Scheme
Students offered a place on the Oxford MBA are eligible to apply for the Barclays Loan Scheme. The scheme allows applicants to apply to borrow some or all of the course tuition fees. Some may also wish to add to this an allowance for living expenses.


But now gone from the SBS website. And there's no loan option for which I meet the requirements to apply (either US or UK permanent residency requirement).

Does anybody know what happened?

I have been increasingly worried about financing my MBA.
The cash I have on my bank account could cover my living expenses for a year. How. Also I have not debt. But I will have to borrow the full tuition fee amount. What if I cannot find a loan? :? :?

Kudos [?]: 72 [0], given: 0

Senior Manager
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Joined: 12 Apr 2008
Posts: 499

Kudos [?]: 253 [0], given: 4

Location: Eastern Europe
Schools: Oxford
Re: Barclays loans disappeared- SBS [#permalink]

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New post 06 Nov 2008, 10:10
Hi Lumone,
I'm not surprised: bschools are forced to cancel their loan schemes all over the world. As for my current finances, I'm in even worse situation than you. Now I'm searching for some alternative ways of financing - sell some of the property, borrow from friends etc. Hey, I even bought myself a lottery ticket yesterday! :wink: But seriously, as for now, the prospects are grim. At present, no loan = no MBA for me :(

Kudos [?]: 253 [0], given: 4

Senior Manager
Senior Manager
User avatar
Joined: 25 Nov 2006
Posts: 333

Kudos [?]: 72 [0], given: 0

Schools: St Gallen, Cambridge, HEC Montreal
Re: Barclays loans disappeared- SBS [#permalink]

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New post 06 Nov 2008, 10:43
At least we can share our misery...

One more thing, I have noticed the average pre-MBA salaries at SBS were at about 40K£. My salary is well under that. That is a high risk situation for me and for the bank. Would it lend between 30-50K£ to someone who doesn't make much? What if I fail and don't graduate (I am sure this happened to someone before)? I would get back to a relatively low pay job and unable to repay the loan... The idea of not even applying came into my mind this afternoon. :evil:

But, one problem at a time. First the application, if admitted anywhere I will look for options.

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Senior Manager
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Joined: 16 Jul 2008
Posts: 288

Kudos [?]: 16 [0], given: 4

Schools: INSEAD Dec'10
Re: Barclays loans disappeared- SBS [#permalink]

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New post 07 Nov 2008, 01:22
I am in a similar situation and glad that that I'm not applying this season. But my strategy is essentially the same - apply first, look for loans later.
_________________

http://applicant.wordpress.com/

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Senior Manager
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Joined: 30 Jul 2007
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Kudos [?]: 59 [0], given: 5

Location: Europe
Schools: St. Gallen '09
Re: Barclays loans disappeared- SBS [#permalink]

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New post 07 Nov 2008, 06:06
St. Gallen is still offering direct loans to non-EU students, but only up to 15 per year. If you're an EU citizen, then you get another loan option from Credit Suisse.

Kudos [?]: 59 [0], given: 5

Senior Manager
Senior Manager
User avatar
Joined: 25 Nov 2006
Posts: 333

Kudos [?]: 72 [0], given: 0

Schools: St Gallen, Cambridge, HEC Montreal
Re: Barclays loans disappeared- SBS [#permalink]

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New post 21 Nov 2008, 13:27
There have been very clear warnings from different governments (including the British Gvt) that banks shouldn't restrict credits to the "real economy".

What we see is Barclays stopping its MBA loan scheme... :roll:

Today when watching Sky news, I have seen a statement from the British Bank Association that loans to small businesses are up 9% compared with last year. Not sure if I should believe that. "Lies, damned lies, and statistics...", or maybe banks restricted loans in all areas except small businesses in order to avoid government sanctions.

Anyways, maybe I'll just get dinged at Oxbridge and will not have to worry about a UK loan. :|

Kudos [?]: 72 [0], given: 0

Re: Barclays loans disappeared- SBS   [#permalink] 21 Nov 2008, 13:27
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