The International Student Guide to Financing Your MBA Inspired by a recent post by cesarucv , and a detailed response by bb on this post , I wanted to expand on the options of financing for international students in the top schools in the US. The table shows the availability, limits, APRs, and co-borrower requirement for international students along with some other notes specific to each schools. Hope you guys find this useful. Which among these do you plan to apply to and what's your financial strategy? Additional Resources: Special Scholarships, Fellowships, and Grants at Top Business Schools! GMAT Club's Special Prodigy Offer: Up to $500 Cash Back on Your Student Loan! If you are going to take a Prodigy Loan, make sure you use the GMAT Club's link to sign up (also forward us your conf email to check eligibility, usually everyone is eligible but sometimes there are surprises, so we ask that you do). You can then get a cashback up to $500 back to you via bank transfer, Paypal or amazon giftcard (after your loan is disbursed) International Financing Options in Top US B Schools School https://gmatclub.com/blog/wp-content/uploads/2020/10/transparent100-1.gif Loan Amount https://gmatclub.com/blog/wp-content/uploads/2020/10/transparent100-1.gif APR https://gmatclub.com/blog/wp-content/uploads/2020/10/transparent100-1.gif Term https://gmatclub.com/blog/wp-content/uploads/2020/10/transparent100-1.gif SSN/CO? https://gmatclub.com/blog/wp-content/uploads/2020/10/transparent100-1.gif Information: https://gmatclub.com/blog/wp-content/uploads/2020/10/transparent100-1.gif Stanford GSB $200,000 7% - 7.5% 20-25 years You can reduce your rate with a co-borrower but not mandatory. Check this link for more info HBS NA Prime + 3%-3.5% 15 years You can reduce your rate with a co-borrower but not mandatory. Check this link for more info Wharton $250,000 Prime + 4% - 4.5% Variable You can reduce your rate with a co-borrower but not mandatory. Many loan options are available with different rules for co-borrowers including Quorom and South East Bank Check this link for more info Booth Cost of Attendance No info Variable No co borrower needed but will help in reducing private loan APRs Check this link for more info Kellogg No info No info Variable Most loans require co-signors (including NU private loans). Mpower offers a loan to international students without a cosignor but not sure of the total amount. Check this link for more info Tuck Full cost of attendance 7.75% + variable Variable You can reduce your rate with a co-borrower but not mandatory. Discover MBA loans offer reduction for good grades (not sure how it works with nondisclousure policies) Check this link for more info Fuqua Upto 80% of cost of attendance - Unless private loans 8% + variable 15-20 years Discover, Mpower and SouthEast Bank options. APRs reduce with a co-borrower/good grades/both. 1% cash reward for good grades. This could probably sponsor a foreign travel Check this link for more info MIT Sloan Check this link for more info Ross No info No info No info Ross loans are only available for intl. students if you have a cosigner. However, Ross also lists several private loans (as mentioned in other schools) whch have more relaxed policies on co-signors. Ross does nto recommend anyone in particular Check this link for more info Stern Full cost of attendance Variable (8% +) Variable Both options available with or without co-signer. Needless to say that the loans with co-signers have lower rates. Check this link for more info Yale SOM Upto 80% of cost of attendance - Unless private loans 7%-8% + variable 15+ years Both options available but Yale only lists some select loans for no-cogner loans Check this link for more info Haas Upto 60-70% of the cost of attendance. Variable but less than others if you apply for the Haas risk-share program Variable Cosinger not needed for risk share Haas loans Check this link for more info Anderson Only Tuition and Summer costs upto $60,000 Variable Variable No consgner needed for Discover and Elemens Financial Loans (but not full amount) Check this link for more info Columbia Variable. Lenders list available for admitted students NA Variable No loans if you don't have a co-signer (but prodigy is mentioned as the only loan if you don't have a co-signer) Check this link for more info Darden Upto $89K per year Variable 20 Years Loans without co-singer through Discovery Check this link for more info Do you think I missed something? How are you planning to finance your student loans? Share your ideas! -

Hey there, We know that when you plan to study abroad, arranging proper finances is the most important aspect. Thus we are here to help you understand the different lenders that can provide you with abroad education loans. There are 2 types of education loans that you can go for i.e. secured education loan and unsecured education loans. A few secured loan options are as follows - 1. SBI - they can provide you with up to 1.5 Cr INR loan with an interest rate starting at 11.15%. The processing fee for the same is 11,800 INR including GST. 2. UBI - they can also provide you with an education loan with up to 1.5 Cr INR with an interest rate starting at 10%. They charge a processing fee of 5,000 INR which is refundable in case you take disbursement within 3 months of loan approval. Please Note - For both the cases above, collateral will be required. Options for getting an unsecured education loan i.e. loan without collateral are shown below - Lender Maximum Loan Amount Rate of Interest Axis Bank Up to 50 Lakhs INR 11% - 13.50% ICICI Bank Up to 50 Lakhs INR 10.85% - 12.50% IDFC FIRST Bank Up to 50 Lakhs INR 11.50% - 13.25% HDFC Credila Up to 65 Lakhs INR 11.25% - 13% Auxilo Up to 65 Lakhs INR 11.25% - 13% Incred Up to 60 Lakhs INR 12.25% - 14% Avanse Up to 75 Lakhs INR 12.50% - 13.50% MPOWER Financing Up to 100,000 USD 12.99% Absolutely, the decision ultimately boils down to your individual preferences and requirements. In case you have collateral then you can go for a secured education loan with a public sector bank . In case you do not want to pledge collateral then you should go for unsecured loans from private banks or NBFCs but ensure to have a good financial co-applicant. In case you do not have a financial co-applicant then you may go for international lenders. To streamline your education loan process, you can proactively check your eligibility through platforms like GyanDhan, India's first and largest education financing marketplace. We specialize in helping students fulfill their dreams of studying abroad, and our services are free.

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Financing Your MBA

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The International Student Guide to Financing Your MBA

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cototovaldivieso

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06 Jul 2023, 17:53

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Are there T20 and T25 schools that offer special financing options, like the M7 and T15 schools listed here?

Or in other words, is there any T20 or T25 school that offers more lending options than just MPower and Prodigy, which have outrageous rates today, and are not lending enough money to attend anyway?

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cototovaldivieso

There are very few if any. As selectivity drops, the options among business schools decline and these options tend to be on and off. Sometimes schools get partnerships with a local credit union but then they get called off another year so you will have to check.

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08 Jan 2024, 18:48

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Thanks for sharing!

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Hey there,

We know that when you plan to study abroad, arranging proper finances is the most important aspect. Thus we are here to help you understand the different lenders that can provide you with abroad education loans.

There are 2 types of education loans that you can go for i.e. secured education loan and unsecured education loans.

A few secured loan options are as follows -

SBI

UBI

Please Note - For both the cases above, collateral will be required.

Options for getting an unsecured education loan i.e. loan without collateral are shown below -

Lender	Maximum Loan Amount	Rate of Interest
Axis Bank	Up to 50 Lakhs INR	11% - 13.50%
ICICI Bank	Up to 50 Lakhs INR	10.85% - 12.50%
IDFC FIRST Bank	Up to 50 Lakhs INR	11.50% - 13.25%
HDFC Credila	Up to 65 Lakhs INR	11.25% - 13%
Auxilo	Up to 65 Lakhs INR	11.25% - 13%
Incred	Up to 60 Lakhs INR	12.25% - 14%
Avanse	Up to 75 Lakhs INR	12.50% - 13.50%
MPOWER Financing	Up to 100,000 USD	12.99%

Absolutely, the decision ultimately boils down to your individual preferences and requirements. In case you have collateral then you can go for a secured education loan with a public sector bank. In case you do not want to pledge collateral then you should go for unsecured loans from private banks or NBFCs but ensure to have a good financial co-applicant. In case you do not have a financial co-applicant then you may go for international lenders.

To streamline your education loan process, you can proactively check your eligibility through platforms like GyanDhan, India's first and largest education financing marketplace. We specialize in helping students fulfill their dreams of studying abroad, and our services are free.

alankar70

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Hi,

I was trying to get an offer from prodigy to check my loan options. It seems they have changed their model. The schools for which i was getting a prelim offer a month ago, are getting rejected now by them. Anyone else facing the same issue. Any anyone suggest any alternative option. I am an Indian , currently working in Kuwait for past 1.5 years. I am looking for loans for admission in Said or NUS. I have interview schedule for both.

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