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The International Student Guide to Financing Your MBA

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The International Student Guide to Financing Your MBA  [#permalink]

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New post 21 May 2017, 01:13
4
19

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?


International Financing Options in Top US B Schools
SchoolLoan AmountAPRTermSSN/CO?Information:
Stanford GSB$200,0007% - 7.5%20-25 yearsYou can reduce your rate with a co-borrower but not mandatory.Check this link for more info
HBSNAPrime + 3%-3.5%15 yearsYou can reduce your rate with a co-borrower but not mandatory.Check this link for more info
Wharton$250,000Prime + 4% - 4.5%VariableYou 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 BankCheck this link for more info
BoothCost of AttendanceNo infoVariableNo co borrower needed but will help in reducing private loan APRsCheck this link for more info
KelloggNo infoNo infoVariableMost 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
TuckFull cost of attendance7.75% + variableVariableYou 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
FuquaUpto 80% of cost of attendance - Unless private loans8% + variable15-20 yearsDiscover, 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 SloanCheck this link for more info
RossNo infoNo infoNo infoRoss 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 particularCheck this link for more info
SternFull cost of attendanceVariable (8% +)VariableBoth 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 SOMUpto 80% of cost of attendance - Unless private loans7%-8% + variable15+ yearsBoth options available but Yale only lists some select loans for no-cogner loansCheck this link for more info
HaasUpto 60-70% of the cost of attendance.Variable but less than others if you apply for the Haas risk-share programVariableCosinger not needed for risk share Haas loansCheck this link for more info
AndersonOnly Tuition and Summer costs upto $60,000VariableVariableNo consgner needed for Discover and Elemens Financial Loans (but not full amount)Check this link for more info
ColumbiaVariable. Lenders list available for admitted studentsNAVariableNo 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
DardenUpto $89K per yearVariable20 YearsLoans without co-singer through DiscoveryCheck this link for more info


Do you think I missed something? How are you planning to finance your student loans? Share your ideas!

See Also....
Special Scholarships, Fellowships, and Grants at Top Business Schools!

Prodigy Finance offers loans up to 80% of the Cost for most BSchools - International Students ONLY!

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Re: The International Student Guide to Financing Your MBA  [#permalink]

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New post 24 Jul 2017, 06:24
thanks
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Joined: 03 Aug 2016
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Re: The International Student Guide to Financing Your MBA  [#permalink]

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New post 24 Jul 2017, 08:23
1
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 ?
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Re: The International Student Guide to Financing Your MBA  [#permalink]

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New post 07 Dec 2017, 17:42
souvik101990 wrote:

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?


International Financing Options in Top US B Schools
SchoolLoan AmountAPRTermSSN/CO?Information:
Stanford GSB$200,0007% - 7.5%20-25 yearsYou can reduce your rate with a co-borrower but not mandatory.Check this link for more info
HBSNAPrime + 3%-3.5%15 yearsYou can reduce your rate with a co-borrower but not mandatory.Check this link for more info
Wharton$250,000Prime + 4% - 4.5%VariableYou 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 BankCheck this link for more info
BoothCost of AttendanceNo infoVariableNo co borrower needed but will help in reducing private loan APRsCheck this link for more info
KelloggNo infoNo infoVariableMost 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
TuckFull cost of attendance7.75% + variableVariableYou 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
FuquaUpto 80% of cost of attendance - Unless private loans8% + variable15-20 yearsDiscover, 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 SloanCheck this link for more info
RossNo infoNo infoNo infoRoss 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 particularCheck this link for more info
SternFull cost of attendanceVariable (8% +)VariableBoth 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 SOMUpto 80% of cost of attendance - Unless private loans7%-8% + variable15+ yearsBoth options available but Yale only lists some select loans for no-cogner loansCheck this link for more info
HaasUpto 60-70% of the cost of attendance.Variable but less than others if you apply for the Haas risk-share programVariableCosinger not needed for risk share Haas loansCheck this link for more info
AndersonOnly Tuition and Summer costs upto $60,000VariableVariableNo consgner needed for Discover and Elemens Financial Loans (but not full amount)Check this link for more info
ColumbiaVariable. Lenders list available for admitted studentsNAVariableNo 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
DardenUpto $89K per yearVariable20 YearsLoans without co-singer through DiscoveryCheck this link for more info


Do you think I missed something? How are you planning to finance your student loans? Share your ideas!

See Also....
Special Scholarships, Fellowships, and Grants at Top Business Schools!

Prodigy Finance offers loans up to 80% of the Cost for most BSchools - International Students ONLY!

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.
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Re: The International Student Guide to Financing Your MBA  [#permalink]

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New post 21 Jan 2018, 10:40
Do you think applying for financial aid could make an international applicant less competitive, especially if they are over represented I.e. Asians?

Posted from my mobile device
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Joined: 20 Jun 2017
Posts: 14
Location: Australia
GMAT 1: 710 Q49 V37
GPA: 3.4
Re: The International Student Guide to Financing Your MBA  [#permalink]

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New post 26 Mar 2018, 20:53
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Xyz123t wrote:
Do you think applying for financial aid could make an international applicant less competitive, especially if they are over represented I.e. Asians?

Posted from my mobile device


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.
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Joined: 16 May 2018
Posts: 32
Concentration: General Management, Nonprofit
Schools: Haas '21, Tuck '21
GMAT 1: 700 Q50 V37
GPA: 3.9
Re: The International Student Guide to Financing Your MBA  [#permalink]

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New post 22 Sep 2018, 14:02
TravisfromAUS wrote:
Xyz123t wrote:
Do you think applying for financial aid could make an international applicant less competitive, especially if they are over represented I.e. Asians?

Posted from my mobile device


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
GMAT Club Bot
Re: The International Student Guide to Financing Your MBA &nbs [#permalink] 22 Sep 2018, 14:02
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The International Student Guide to Financing Your MBA

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