Calling all Duke (Fuqua) Fall 2009 applicants!

I wanted to take a moment to share an update on our efforts to secure an improved loan program for our international students. Fuqua’s leadership team has been working on a number of fronts to address this issue, and I’m pleased to report positive results that should allay any concerns international students might have about being able to pursue their studies at Fuqua.

First, let there be no uncertainty: Our international students will be able to secure loans for their studies at Fuqua without the need for a U.S. co-signer. We have a solution in hand that will meet students’ needs, with terms similar to those offered for the current academic year.

At the same time, we are part of a consortium of top business schools that is exploring other lender options to ensure international students are getting the best possible loan terms.

Other Options

We have been actively engaged in discussions with banks in China, India, and a number of different regions around the world to identify further appropriate loan programs. These conversations have been fruitful, and negotiations are ongoing.

Further meetings are taking place with U.S. regional banks that have not previously provided international loans, but have expressed interest in our loan proposals and in establishing a relationship with Fuqua.

Yet another option being considered is an internal funding strategy that would utilize our own resources to fund the international loans, should that prove necessary.

Though we have already identified a loan program that will suit the needs of our international students, we continue to consider this range of permanent solutions in order to be certain our students are able to secure the most favorable loan terms available.

Next Steps

I will update you and the rest of the Fuqua community with more complete details on the international loan program when all options have been fully examined. By the end of February, we will be in a position to announce to current and prospective international students a package of loan options for students from different regions with varying borrowing needs.

Fuqua’s global strategy and the strong international contacts that have resulted from that strategy allow us to examine a number of loan programs. In the current challenging economic environment, we’re well positioned to ensure the most favorable loan terms to enable students from around the world to pursue MBA studies at Duke.

Blair