These are the details of Tucks 2011 - 2012 loan program for internationals. Fingers crossed that they don't mind me posting this. Also, the loan program seems to be independent from scholarships, I was awarded a reasonable scholarship and I was still allowed to take the maximum amount out in loans.
• Individual maximum amount varies and is determined by Tuck’s Financial Aid office by performing needs analysis
• Finance up to the cost of tuition and mandatory fees (not to exceed $57,000 annually)
• Apply once and secure financing for your entire graduate studies with a unique Line of Credit structure
• Zero origination or pre-payment fees
• Variable interest rate based on Prime Rate plus 4.00% for student only
• 0.50% interest rate discount for borrowers with an approved U.S. co-signer
• Co-signer not required
• Interest is added to principal upon entering repayment
• Flexible repayment options, including full deferment of payments while in school
• 20 or 25 year repayment period, depending on loan balance – or repay early at any time with no penalty
• 6 month grace period prior to entering repayment
• 0.25% rate discount for automatic electronic payment during repayment
• Optional graduated repayment which provides lower payments during the first two years of repayment
• 24/7 Call Center and Online Application
• Loan is granted and held by your not-for-profit credit union – a lender relationship you can trust
Tuck will determine the maximum line of credit amount the student may be eligible to borrow. This is determined by a needs analysis based on a variety of factors, including cost of the program, their ability to contribute, debt levels consistent with successful repayment, and availability of funds. The school reserves the right to limit or decline educational loans or lines of credit on the basis of a student’s overall debt burden, credit history, or other relevant factors.
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