Calling all Kellogg Fall'08 applicants

From what I recall internationals had two options, one was with a non-citizen cosigner (parents or someone overseas) and that was 8.75% and the other was with a us citizen cosigner and that was 8.25%. They said some private lenders are willing to work with international students who have credit histories, so if you worked here on a visa and have good credit you could do better than the institutional rates.

The 8.5% is the grad plus loans and will be the same everywhere. You can go get private loans, I know I have seen a few that have been around prime so in the mid 6s now I think. Of course thats not fixed so if the fed raises rates in a couple years you might be at 10%...thats the advantage of the grad plus, its fixed at 8.5% for 10 years and you can consolidate it with the 6.8% stafford loans. That said you never know the government may decide to lower student loan interest rates, so next fall those rates could be a lot less.

They did say they are flexible with the amounts you take out, meaning if you say you are taking out the 68K but then change your mind you can decrease it and if things change the other way they will work with you to help get more. Though I did hear its tough to max out a package with them.

From talking to people it seems like the financial aid is the worst part at every school, so its not like Kellogg is exceptionally bad...its the whole 70k for a year of school and looking at that it still seems like it wont cover expenses. I mean 14k for room and board, 1.5k for travel, 3k for personal...those all seem like pretty small numbers to me. Rent looks closer to 1500+ for a one bedroom, 14k might work if you have a roommate or live in the student housing. Travel wont even pay for KWEST let alone the ski trip, GIM, and flights home for the holidays. The annoying thing is they dont adjust for married people at all, which sucks if your spouse isnt going to work or doesnt have a very good salary.

But like I said this is probably all very standard at all the MBA programs, numbers might be slightly different cause of living expenses and tuition differences...but its still going to be a huge sum of money.