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Foreign student with very little saving

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Intern
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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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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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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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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.
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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."

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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.
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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."

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New post 30 Oct 2017, 04:12
Thanks to an expert for help. I really admire good pieces of advice to come in handy. I hope each student using this GMAT forum will find something helpful here and become successful in his or her studies.
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New post 07 Dec 2017, 17:32
My question in this situation is- When applicants like me and gempony who don't have much savings to show for (for whatever reason), is it acceptable to present financial statements of our direct family, who will be funding a part of our MBA program, wherever certain schools require such documents to be furnished with the application?
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New post 19 Dec 2017, 12:21
Talk with school committee they also help students.
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New post 20 Dec 2017, 23:11
Scholarships are difficult to predict. They depend on number of factors including diversity, GMAT score, prestige of your undergrad program and employer, GPA, career progression, and so on. In general, factors that would make the school retain you at any cost (and not join a rival program). Typically, you need a high GMAT score (above the median) to make it work for you in a significant way.
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Re: Foreign student with very little saving &nbs [#permalink] 20 Dec 2017, 23:11
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