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Foreign student with very little saving

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Intern
Intern
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B
Joined: 22 Jul 2017
Posts: 12

Kudos [?]: 5 [0], given: 6

Location: Hong Kong
GPA: 3.85
WE: Corporate Finance (Investment Banking)
Foreign student with very little saving [#permalink]

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New post 20 Aug 2017, 07:31
Hi, I do not have much saving as I have put them into property investment some time ago. Its not a good time for me to sell the property now so I m hoping to obtain bank loan to finance my MBA (if i got admitted by a top school).

Would it be possible for a foreign student to obtain a bank loan in the US/ UK? And Whats the typical interest rate?

And are there any other options to finance the tuition for a foreign student?

Thanks!
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Winning isn’t everything, but wanting to win is. –Vince Lombardi

It is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all- In which case, you fail by default. -J.K. Rowling

Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. -Steve Jobs

"The difference between successful people and others is how long they spend time feeling sorry for themselves."

Kudos [?]: 5 [0], given: 6

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Joined: 04 Dec 2002
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Location: United States (WA)
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Re: Foreign student with very little saving [#permalink]

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New post 25 Aug 2017, 21:33
Hello. You can find the answers to all of your questions here: https://gmatclub.com/forum/the-internat ... 40669.html

Most of the time Prodigy Financial will finance at least 75% of the cost. For some schools they will finance 100% of tuition and living expenses. Now, living expenses estimated by the school are always unrealistically low. Meaning, you can live on it, but it is not enjoyable, does not allow for social activities, travel, etc. You will need to figure out how to potentially get some extra income for those things. A question many people from third world countries with small incomes face all the time.
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Kudos [?]: 28471 [0], given: 5105

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Joined: 26 Oct 2016
Posts: 695

Kudos [?]: 179 [0], given: 855

Location: United States
Concentration: Marketing, International Business
Schools: HBS '19
GMAT 1: 770 Q51 V44
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Re: Foreign student with very little saving [#permalink]

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New post 26 Aug 2017, 03:32
You can check with respective school or college as well. They too provide facilities of funding.
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Thanks & Regards,
Anaira Mitch

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Intern
Intern
User avatar
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Joined: 22 Jul 2017
Posts: 12

Kudos [?]: 5 [0], given: 6

Location: Hong Kong
GPA: 3.85
WE: Corporate Finance (Investment Banking)
Re: Foreign student with very little saving [#permalink]

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New post 28 Aug 2017, 00:52
anairamitch1804 wrote:
You can check with respective school or college as well. They too provide facilities of funding.


Thanks! Will do. I heard that its hard to get full scholarship and there are many eligible candidates and only a few places for the full scholarship are available. Perhaps I need to check with the schools to see what are the specific criteria that can add extra scores for the scholarship application.
_________________

Winning isn’t everything, but wanting to win is. –Vince Lombardi

It is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all- In which case, you fail by default. -J.K. Rowling

Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. -Steve Jobs

"The difference between successful people and others is how long they spend time feeling sorry for themselves."

Kudos [?]: 5 [0], given: 6

Intern
Intern
User avatar
B
Joined: 22 Jul 2017
Posts: 12

Kudos [?]: 5 [0], given: 6

Location: Hong Kong
GPA: 3.85
WE: Corporate Finance (Investment Banking)
Re: Foreign student with very little saving [#permalink]

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New post 30 Aug 2017, 19:32
[quote="bb"]Hello. You can find the answers to all of your questions here: https://gmatclub.com/forum/the-internat ... 40669.html

Most of the time Prodigy Financial will finance at least 75% of the cost. For some schools they will finance 100% of tuition and living expenses. Now, living expenses estimated by the school are always unrealistically low. Meaning, you can live on it, but it is not enjoyable, does not allow for social activities, travel, etc. You will need to figure out how to potentially get some extra income for those things. A question many people from third world countries with small incomes face all the time.[/quote

Thanks, Rich! Prodigy Finance looks good. I will check it out. I can live on my savings but I would not be able to pay off the full tuition so that part I would need some extra help. I have not started my application process yet so probably I will start approaching schools to get some guidance from them later on.
_________________

Winning isn’t everything, but wanting to win is. –Vince Lombardi

It is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all- In which case, you fail by default. -J.K. Rowling

Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. -Steve Jobs

"The difference between successful people and others is how long they spend time feeling sorry for themselves."

Kudos [?]: 5 [0], given: 6

Re: Foreign student with very little saving   [#permalink] 30 Aug 2017, 19:32
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Foreign student with very little saving

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