Last visit was: 20 Nov 2025, 04:20 It is currently 20 Nov 2025, 04:20
Home
GMAT
Messages
Tests
Schools
Events
Rewards
Chat
My Profile
Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel
avatar
deafheaven11
avatar
Joined: 15 Aug 2020
Last visit: 02 Jun 2022
Posts: 14
Own Kudos:
1
Given Kudos: 70
Schools: LBS MFA "22
Schools: LBS MFA "22
Posts: 14
Kudos: 1
Living expenses abroad. 26 Aug 2020, 11:54
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Hello everyone,
I'm in the process of applying for master in finance in two universities, LBS & HEC. I looked up tuition on prodigy finance and they were very clear about their commitment to cover all tuition and fees via a private loan. However, they informed me that they would not be able to finance my living expenses, and my savings are not sufficient to cover such costs, given that London and Paris are both expensive. Now as you all know, I won't be able to obtain the student visa in either of those countries without securing those funds, so my question is: is there a way to obtain funds for living expenses from another borrower? (I am ready to pledge collateral)

thanks in advance.
User avatar
bb
User avatar
Founder
Joined: 04 Dec 2002
Last visit: 19 Nov 2025
Posts: 42,395
Own Kudos:
82,126
 [1]
Given Kudos: 24,110
Location: United States
GMAT 1: 750 Q49 V42
GPA: 3
Products:
GMAT Club Tests Forum Quiz
Expert
Expert reply
GMAT 1: 750 Q49 V42
Posts: 42,395
Kudos: 82,126
 [1]
Living expenses abroad. 26 Aug 2020, 14:12
1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
deafheaven11
Hello everyone,
I'm in the process of applying for master in finance in two universities, LBS & HEC. I looked up tuition on prodigy finance and they were very clear about their commitment to cover all tuition and fees via a private loan. However, they informed me that they would not be able to finance my living expenses, and my savings are not sufficient to cover such costs, given that London and Paris are both expensive. Now as you all know, I won't be able to obtain the student visa in either of those countries without securing those funds, so my question is: is there a way to obtain funds for living expenses from another borrower? (I am ready to pledge collateral)

thanks in advance.
Show more


Hi. That's a good question. There are 2 issues you are facing:
1. Visa documents
2. Actually making your ends meet when you go to the other country

For #1, I know there are ways to show balance in your bank account by borrowing money or other means. People have done this during the visa applications since often banks won't issue/disburse funds until AFTER you receive the visa. So if all you need is a visa at this point of your stage, then this is doable by moving money around.
For #2, there are other companies that can lend money. There are local banks in your country that may lend you for collateral. You can see this post potentially as one example: https://gmatclub.com/forum/opinion-post ... 64575.html
Would suggest visiting the Financing forum: https://gmatclub.com/forum/financing-your-mba-377/

Thank you,
BB.
avatar
deafheaven11
avatar
Joined: 15 Aug 2020
Last visit: 02 Jun 2022
Posts: 14
Own Kudos:
1
Given Kudos: 70
Schools: LBS MFA "22
Schools: LBS MFA "22
Posts: 14
Kudos: 1
Living expenses abroad. 26 Aug 2020, 14:36
Kudos
Add Kudos
Bookmarks
Bookmark this Post
bb
deafheaven11
Hello everyone,
I'm in the process of applying for master in finance in two universities, LBS & HEC. I looked up tuition on prodigy finance and they were very clear about their commitment to cover all tuition and fees via a private loan. However, they informed me that they would not be able to finance my living expenses, and my savings are not sufficient to cover such costs, given that London and Paris are both expensive. Now as you all know, I won't be able to obtain the student visa in either of those countries without securing those funds, so my question is: is there a way to obtain funds for living expenses from another borrower? (I am ready to pledge collateral)

thanks in advance.


Hi. That's a good question. There are 2 issues you are facing:
1. Visa documents
2. Actually making your ends meet when you go to the other country

For #1, I know there are ways to show balance in your bank account by borrowing money or other means. People have done this during the visa applications since often banks won't issue/disburse funds until AFTER you receive the visa. So if all you need is a visa at this point of your stage, then this is doable by moving money around.
For #2, there are other companies that can lend money. There are local banks in your country that may lend you for collateral. You can see this post potentially as one example: https://gmatclub.com/forum/opinion-post ... 64575.html
Would suggest visiting the Financing forum: https://gmatclub.com/forum/financing-your-mba-377/

Thank you,
BB.
Show more

Absolutely grateful for your response, I will make sure to check out those links. But just to make further clarification, I'm questioning about both: getting the visa and actually getting the money. Unfortunately, banks in my country won't lend me, as the exchange rates are extremely high (1GBP= 20 of the local currency), it's illegal to lend high amounts.
User avatar
bb
User avatar
Founder
Joined: 04 Dec 2002
Last visit: 19 Nov 2025
Posts: 42,395
Own Kudos:
82,126
 [1]
Given Kudos: 24,110
Location: United States
GMAT 1: 750 Q49 V42
GPA: 3
Products:
GMAT Club Tests Forum Quiz
Expert
Expert reply
GMAT 1: 750 Q49 V42
Posts: 42,395
Kudos: 82,126
 [1]
Living expenses abroad. 26 Aug 2020, 14:39
1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
You can see about borrowing with a co-signer in the UK if you know anyone who knows you well enough to do that.
I can also see about asking family - many people do that
Finally, you can inquire with the school about TA or Fellowship opportunities to make up the shortfall or check the school's student jobs portal to see what jobs are posted and available (though this may be tougher in the COVID-19) but that's an option too to cover some of the shorftfall that way....
avatar
deafheaven11
avatar
Joined: 15 Aug 2020
Last visit: 02 Jun 2022
Posts: 14
Own Kudos:
1
Given Kudos: 70
Schools: LBS MFA "22
Schools: LBS MFA "22
Posts: 14
Kudos: 1
Living expenses abroad. 26 Aug 2020, 14:42
Kudos
Add Kudos
Bookmarks
Bookmark this Post
bb
You can see about borrowing with a co-signer in the UK if you know anyone who knows you well enough to do that.
I can also see about asking family - many people do that
Finally, you can inquire with the school about TA or Fellowship opportunities to make up the shortfall or check the school's student jobs portal to see what jobs are posted and available (though this may be tougher in the COVID-19) but that's an option too to cover some of the shorftfall that way....
Show more

I will definitely see that. Thanks again!
User avatar
MiMEssay
User avatar
Joined: 22 Sep 2013
Last visit: 25 Nov 2024
Posts: 1,810
Own Kudos:
417
Given Kudos: 19
Concentration: Marketing, Entrepreneurship
GMAT 1: 690 Q49 V35
Products:
My Reviews
GMAT 1: 690 Q49 V35
Posts: 1,810
Kudos: 417
Living expenses abroad. 09 Sep 2020, 01:35
Kudos
Add Kudos
Bookmarks
Bookmark this Post
deafheaven11
Hello everyone,
I'm in the process of applying for master in finance in two universities, LBS & HEC. I looked up tuition on prodigy finance and they were very clear about their commitment to cover all tuition and fees via a private loan. However, they informed me that they would not be able to finance my living expenses, and my savings are not sufficient to cover such costs, given that London and Paris are both expensive. Now as you all know, I won't be able to obtain the student visa in either of those countries without securing those funds, so my question is: is there a way to obtain funds for living expenses from another borrower? (I am ready to pledge collateral)

thanks in advance.
Show more


Hey deafheaven11,

It depends on the country you are from but usually if you go to your home country it is pretty easy to secure a loan especially if you have collateral for an amount ranging between 20% to 80% of the program tuition fee. So if you are getting a loan for the tuition fee from prodigy finance you can definitely get a partial loan from a local bank as well.

Further if you have a very strong application HEC is known to provide scholarships, Our lot of past clients get excellent scholarships from HEC as well as LBS. So by preparing a strong application and leveraging your strengths correct that way you have the strongest chance at a scholarship.

Apart from that there are also a lot of government scholarships in these countries that can be targeted.

HEC also offers paid internships and apprenticeships which you can take up to reduce the loan exposure. This way, you can reduce the financial burden.

Further, if you need help in your scholarship we do offer help for same in the All-in-One here is the link for same
https://www.mim-essay.com/mim-all-in-one