Foreign student with very little saving

Question

Hi, I do not have much saving as I have put them into property investment some time ago. Its not a good time for me to sell the property now so I m hoping to obtain bank loan to finance my MBA (if i got admitted by a top school).

Would it be possible for a foreign student to obtain a bank loan in the US/ UK? And Whats the typical interest rate?

And are there any other options to finance the tuition for a foreign student?

Thanks!

bb · Answer

Hello. You can find the answers to all of your questions here: https://gmatclub.com/forum/the-internat ... 40669.html

Most of the time Prodigy Financial will finance at least 75% of the cost. For some schools they will finance 100% of tuition and living expenses. Now, living expenses estimated by the school are always unrealistically low. Meaning, you can live on it, but it is not enjoyable, does not allow for social activities, travel, etc. You will need to figure out how to potentially get some extra income for those things. A question many people from third world countries with small incomes face all the time.

anairamitch1804 · Answer

You can check with respective school or college as well. They too provide facilities of funding.

LoveWildLife · Answer

Thanks! Will do. I heard that its hard to get full scholarship and there are many eligible candidates and only a few places for the full scholarship are available. Perhaps I need to check with the schools to see what are the specific criteria that can add extra scores for the scholarship application.

LoveWildLife · Answer

Hello. You can find the answers to all of your questions here: https://gmatclub.com/forum/the-internat ... 40669.html Most of the time Prodigy Financial will finance at least 75% of the cost. For some schools they will finance 100% of tuition and living expenses. Now, living expenses estimated by the school are always unrealistically low. Meaning, you can live on it, but it is not enjoyable, does not allow for social activities, travel, etc. You will need to figure out how to potentially get some extra income for those things. A question many people from third world countries with small incomes face all the time.[/quote Thanks, Rich! Prodigy Finance looks good. I will check it out. I can live on my savings but I would not be able to pay off the full tuition so that part I would need some extra help. I have not started my application process yet so probably I will start approaching schools to get some guidance from them later on.

CantonasRaisedCollar · Answer

My question in this situation is- When applicants like me and  gempony  who don't have much savings to show for (for whatever reason), is it acceptable to present financial statements of our direct family, who will be funding a part of our MBA program, wherever certain schools require such documents to be furnished with the application?

leowall · Answer

Talk with school committee they also help students.

99Colleges · Answer

Scholarships are difficult to predict. They depend on number of factors including diversity, GMAT score, prestige of your undergrad program and employer, GPA, career progression, and so on. In general, factors that would make the school retain you at any cost (and not join a rival program). Typically, you need a high GMAT score (above the median) to make it work for you in a significant way.

Foreign student with very little saving

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