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Financing your MBA - International Students

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krikre
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Re: Financing your MBA - International Students [#permalink] New post   01 Jan 2018, 06:27
Hello everyone,

I am citizen of central european EU member country planning on applying for universities in France and UK. I would need to clarify how I should tackle the issue of financing my program, I am interested in getting a private loan but there is nothing like institutions giving student loans worth more than EUR 10,000 in my country, probably because education is for free here.

1.Are there any good institutions that give student loans, where I am not required to be the resident of the particular country where I want to study, at the time of applying?

2. Then I don't understand how it works: when I apply and get admitted, how much time will I have to proove that I have the money? Do I need to start the process of getting the loan before I apply so that I am ready? But then I don't know what program I get accepted to, so don't know the amount of money I will need (I am applying for 1 year programs that cost b/w cca EUR 20,000-40,000, + living costs), I will be able to save up to around EUR 10-15,000 by myself.

I am applying for MSc in Finance, don't know if it is relevant though.

Thanks for any insights in advance,

Regards.
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Aggarwalshipra
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Re: Financing your MBA - International Students [#permalink] New post   15 Oct 2018, 03:23
When it comes to go for MBA from international colleges you need to have a lot of fund as there your admission and many other expenses are there.Now if you say about funding process so it is very critical:
1. You need to try to get a scholarship first as by that sometimes half of your or even full of your amount is forgiven.
2. You should try to get education loan from India as if you go for any other country to give you loan then most of the time you require a co-signer to be with you and also the interest and money charged is higher.If you are looking for education loan you can visit this site and check the list:- https://www.paisa.co/education-loan
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Re: Financing your MBA - International Students [#permalink] New post   15 Oct 2018, 14:04
Get Education Loan without having Collateral

Non-bank finance companies, such as Credila (a part of HDFC Ltd) and Avanse (a subsidiary of DHFL), offer loans without collateral although their interest rates are usually higher. They also charge a 1%-2% processing fee.

Now, this is where, GyanDhan, comes into the picture. GyanDhan doesn’t charge any processing fee and even offers loans without collateral at 11.75%-13%
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Re: Financing your MBA - International Students [#permalink] New post   10 Dec 2018, 00:42
It may likewise be valuable to share school-explicit knowledge on prerequisites to acquire a testament of qualification to be displayed to the understudy visa issuing specialists...
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Re: Financing your MBA - International Students [#permalink] New post   12 Sep 2019, 06:39
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Are you looking for financing to fund your university degree? Have you already secured a loan?

We would love to hear about your experience. leave us your number and email address and we’ll call you back for a quick minute discussion.

In exchange, we will provide you some coaching on how to land your dream job in consulting (McKinsey, Bain, BCG), technology (Microsoft, Google,…), Finance (UBS, Goldman Sachs,…) and others directly from our founders (ex consultants at McKinsey, Delta Partners with Ivy League education)

https://forms.gle/9UdpMyYwNQNCUoycA
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Re: Financing your MBA - International Students [#permalink] New post   04 Dec 2019, 01:49
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Hi. I am looking to understand that for an Indian student applying to US B schools, will it be better to get loan from Indian lenders like SBI or from US lenders like Prodigy. Especially when collateral might not be a problem
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Re: Financing your MBA - International Students [#permalink] New post   30 Jan 2020, 01:15
Finance You MBA? A detailed guide for you!

You might’ve heard about the current “financial issues” faced by Turkey?

Or how about the first 100 Companies listed in Forbes Magazine as they are financially strong? Or maybe your friend asked you for a loan because he’s financially low?

It might appear so that finance dominates every aspect of our life is it people, companies or even countries. But the question remains, what finance really is? Simply put, finance deals with managing your resources, or otherwise your money.

So, if you have just received your pocket money, then the processes of budgeting, spending and saving your money are all financial decisions. Experts term it as Personal Finance. If you run a corporation with limited capital, with just a few additions to the same processes, it becomes Corporate Finance.

While if the government starts using the same processes, which by the way they do, then its Public Finance. Hence, Finance is a field so vast that almost all aspects of our lives depend on it.

Therefore, understanding the basics of finance coupled with the art to apply them is quite essential for the basic survival of a human being. And if you’re aiming at excellence, finance is the roadway to get there.

read more.
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Re: Financing your MBA - International Students [#permalink] New post   14 Apr 2021, 07:36
Hi. I am a Canadian permanent resident. I need to finance my MBA at INSEAD or LBS, but I’m facing some issues with Canadian banks:

1. They seem reluctant to provide loan or line of credit for a non-Canadian institution

2. Maximum line of credit for MBA is $100K (but I’m looking for $200-$250K)

3. They want a co-borrower that is getting difficult for me to arrange

Any suggestions?

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Re: Financing your MBA - International Students [#permalink] New post   16 Apr 2021, 05:05
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jk11 wrote:
Hi. I am a Canadian permanent resident. I need to finance my MBA at INSEAD or LBS, but I’m facing some issues with Canadian banks:

1. They seem reluctant to provide loan or line of credit for a non-Canadian institution

2. Maximum line of credit for MBA is $100K (but I’m looking for $200-$250K)

3. They want a co-borrower that is getting difficult for me to arrange

Any suggestions?

Posted from my mobile device



Hi there. Have you explored other funding options such as loans from Prodigy Finance? We provide loans to international masters students, without requiring collateral or co-signer. You can visit our website to learn more, browse the FAQs, and reach out to our support team if you have any questions.
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Re: Financing your MBA - International Students [#permalink] New post   20 May 2021, 23:01
ProdigyFinance wrote:
jk11 wrote:
Hi. I am a Canadian permanent resident. I need to finance my MBA at INSEAD or LBS, but I’m facing some issues with Canadian banks:

1. They seem reluctant to provide loan or line of credit for a non-Canadian institution

2. Maximum line of credit for MBA is $100K (but I’m looking for $200-$250K)

3. They want a co-borrower that is getting difficult for me to arrange

Any suggestions?

Posted from my mobile device



Hi there. Have you explored other funding options such as loans from Prodigy Finance? We provide loans to international masters students, without requiring collateral or co-signer. You can visit our website to learn more, browse the FAQs, and reach out to our support team if you have any questions.


Hello Prodigy Team. I applied for Prodigy loan for two programs at the same school MBA and MS from MIT, but wanted to choose one afterwards. MBA loan application was approved with conditional offer but MS was declined with financial burden reason. But MS is almost 2.5x cheaper than MBA, and with comparable salary outcomes. Prodigy team member was not able to provide the reasoning behind it, as I was favoring the MS in terms of ROI. Pls advise.
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Re: Financing your MBA - International Students [#permalink] New post   09 Jul 2021, 05:01
ariel wrote:
I thought I'd get a thread going where international students can discuss their experiences and share tips on securing (cheap) funds for their education, obtaining a study permit, etc.

This thread is open to all international students studying or wishing to study anywhere in the world. However, please kindly limit all discussions to financing and immigration issues only.

It might also be useful to share school-specific intelligence on requirements to obtain a certificate of eligibility to be presented to the student visa issuing authorities.

As a Canadian accepted at a few US schools, I'm a bit baffled at the stringent regulations international students face as well as the lack of cheap and accessible financing.

For instance, Cornell expects international students to show proof of liquid assets in the amount of $142,404. The most troubling part is that they would not allow a US student loan (such as the one they guarantee to all international students) to be used towards the exorbitant amount required. How have others handled this issue?




On the other hand, other schools, such as Ross, only require proof of living expenses for the first year - a far more palatable $8,251.

What are the requirements of the school you will be attending? How did you get around the financing issue?

I would be particularly interested to hear from other Canadians as well, who might be able to provide specific information on Canadian lenders. After speaking with a few of the big banks (BMO, Scotia, TD), I realize that no Canadian bank would underwrite a loan for a student studying outside of Canada unless they have a Canadian co-signer. Also for those living in Ontario, OSAP is shelling out a whooping $210/week of study in TOTAL (including tuition, all incidental expenses, etc). What did you do? How did you handle that part?

Also, has anyone found any good websites indexing private scholarships or any third party financing opportunities?

Any tips, ideas, suggestions, school-specific info would be greatly appreciated!



Is this case still valid for Cornell? Or has cornell changed the requirements for liquid fund?
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Re: Financing your MBA - International Students [#permalink] New post   09 Jul 2021, 05:10
ahsanashfaq28 wrote:
ariel wrote:
I thought I'd get a thread going where international students can discuss their experiences and share tips on securing (cheap) funds for their education, obtaining a study permit, etc.

This thread is open to all international students studying or wishing to study anywhere in the world. However, please kindly limit all discussions to financing and immigration issues only.

It might also be useful to share school-specific intelligence on requirements to obtain a certificate of eligibility to be presented to the student visa issuing authorities.

As a Canadian accepted at a few US schools, I'm a bit baffled at the stringent regulations international students face as well as the lack of cheap and accessible financing.

For instance, Cornell expects international students to show proof of liquid assets in the amount of $142,404. The most troubling part is that they would not allow a US student loan (such as the one they guarantee to all international students) to be used towards the exorbitant amount required. How have others handled this issue?




On the other hand, other schools, such as Ross, only require proof of living expenses for the first year - a far more palatable $8,251.

What are the requirements of the school you will be attending? How did you get around the financing issue?

I would be particularly interested to hear from other Canadians as well, who might be able to provide specific information on Canadian lenders. After speaking with a few of the big banks (BMO, Scotia, TD), I realize that no Canadian bank would underwrite a loan for a student studying outside of Canada unless they have a Canadian co-signer. Also for those living in Ontario, OSAP is shelling out a whooping $210/week of study in TOTAL (including tuition, all incidental expenses, etc). What did you do? How did you handle that part?

Also, has anyone found any good websites indexing private scholarships or any third party financing opportunities?

Any tips, ideas, suggestions, school-specific info would be greatly appreciated!



Is this case still valid for Cornell? Or has cornell changed the requirements for liquid fund?




Can I Use the Quorum Loan on the Declaration of Finances?
The Quorum loan may be used on the Declaration of Finances form. To do so, forward your pre-approval from Quorum to the Johnson Financial Aid Office, and a letter will be issued. Federal immigration regulations require that all international students provide evidence of adequate funds to meet the financial obligations of enrollment at a U.S. university.

It is mentioned on the Cornell website.
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Re: Financing your MBA - International Students [#permalink]
09 Jul 2021, 05:10
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