The International Student Guide to Financing Your MBA

thanks

Souvik - What about living expenses and stuff ? I wonder how people deal with that as for international students that'll add up as well.
And on top of that are these options payable after graduation or you have to pay minimum payments or interest per month while in school ?

souvik101990 Great work with the tabulated details for the 15 schools you've published!
Would it be possible for you to furnish similar datapoints for the next 10 schools in the pecking order as well? Apologies in advance if this is too unreasonable a request to put forth.

Do you think applying for financial aid could make an international applicant less competitive, especially if they are over represented I.e. Asians?

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Hey Xyz123t, I have just gone through the round 2 process and do not recall any of the schools asking whether you will need to borrow to finance your loan. It shouldn't make any difference in their assessment, as financing should be separate from the quality of the candidate (same goes for business cases!). Sorry if this info is a bit late for you but it might help others.

I confirm that this was not an issue

How do these compare with 3rd party lenders such as Prodigy and Discover?

How those lenders do credit analysis on international students? We need to provide documents from our home country like tax filings, bank statement and so on?

Prodigy Finance doesn't provide collateral free loans to some of my target colleges (like IIMs India), and coming from poor family, I do not have any collateral for getting a loan from Indian bank.

Any suggestions what can be done in that case?

Sorry, unfortunately I don't know much about Indian Schools (Prodigy usually requires that you go to school in a country other than where you live) but you can check this post: https://gmatclub.com/forum/opinion-post ... 64575.html
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Thanks for the link bb.

Hi,

Does anyone have the updated list of B-schools offering no cosigner loans for International students?

bb

Hi souvik101990,

Has Ross started to offer loans to international students without a co signor?

Does anyone have statistics of how much less of a chance we have for a scholarship if we apply in later rounds? Or just a guess of the top of your head?

Good question. It is hard to tell. I think most programs try to balance it between R1 and R2. Sometimes, they have people decline. E.g. someone gets a 50% scholarship at Fuqua and 50% at Haas, they may pick Haas for example, and that frees up the scholarship money for R2. I think it can be about equal though again, in the competitive situations, the earlier you apply the better in general.

R3 is traditionally the trickiest round to get scholarship money and it is basically only if someone skips on their option and opts in for another school instead.

P.S. We did have an interesting case (unique) a few years ago of a person who was Waitlisted, getting admitted and getting a 75% scholarship offer along with the admit. Made their choice easy but surprised many of us.
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bb Mit sloan's information link is incorrect as it's redirecting to booth's website, rather than to Sloan's. Please correct it !!

Thank you. I have updated the link for MIT but I found so many confusing and various departments and resources for financing for MIT that are all sort of touching on the topic but don't dive into them. Here is the full scope so you get a sense of how many websites (not even pages) there are that MIT has for Financing - it is mind boggling

https://mitsloan.mit.edu/mba/admissions ... -education
https://mitsloan.mit.edu/mba/admissions ... -aid/loans
https://oge.mit.edu/ and https://oge.mit.edu/student-finances/fi ... ing/loans/
http://sfs.mit.edu/


P.S. Funny enough, I got 404 error for http://www.fafsa.ed.gov/ and the correct link is https://studentaid.gov/h/apply-for-aid/fafsa
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HBS has lowest % rate

Thank you for sharing this informative article.