Hi everyone, I have been researching a few international Business Schools and it was quite surprising to note that there was no resource anywhere online (maybe I missed it, so please correct me if I am wrong), that provides a list of B school…
Hi everyone,
I have been researching a few international Business Schools and it was quite surprising to note that there was no resource anywhere online (maybe I missed it, so please correct me if I am wrong), that provides a list of B schools which have partnered with Financial institutions of their countries to provide Loan assistance to international Students without a Co-Signer from that country and possibly without Collateral. For us Indians, arranging about 50 Lakhs for a B school is obviously one of the major challenges of an International MBA and it would be of immense help if we can have a thread where Region Wise B schools and their Loan Programs for Internationals are mentioned in one place.
So far I only have managed to find a few TOP B schools with such financial assistance, and if I can edit this post than I will update this OP as and when my research shows more programs. I am only considering the Top MBA programs. I request others who may have more knowledge about Loans programs of other B schools to contribute to this thread for everyone's benefit.
US
1. Harvard - Harvard University Employees Credit Union (HUECU).
2. Wharton
If you are an international student who is neither a dual U.S. citizen nor a U.S. permanent resident, we encourage you to investigate all sources of funding within your home country, including government and private scholarships and loans. Wharton offers an international loan that does not require a U.S. cosigner, and specific information on this program will be made available after students are admitted. Some U.S. banks will also permit international students to borrow through them provided the student has a creditworthy U.S. citizen cosigner.
Source
3. Stanford
The Stanford University Graduate School of Business has partnered with the Star One Credit Union to provide private educational lines of credit to international Business School students. There may be other private educational loans for international students. However, many private educational loans do not offer the combination of relatively low interest rates with the possibility of not requiring a US co-signer for the loan.
Source
4. SLOAN - International Graduate Private Student Loan
5. NYU - Stern
International students may be eligible to receive private loans with and/or without a U.S. co-signer.
Without a U.S. co-signer
For the 2010-2011 academic year, we offer:
Chase Select International Loan
The Global Student Loan for students from India, a partnership between Global Student Loan Corporation and HSBC. Students who qualify for this loan can apply for a minimum of $10,000 and up to $50,000.
Source
6. Haas Berekeley - The Eli Lilly Credit Union
7. Deutsche Bank's affiliated loan program for students (ALPS). The Alps program is available for several B Schools in US like Booth, Simon etc. I could not locate a complete list of colleges which have partnered this program. This does not require a US co-signer. If anyone knows of more colleges partnering ALPS, or whether the program is now withdrawn or existing, post here please.
8. Simon - Access Group
9. Global Student Loan Corporation. You can find out about whether the college you are applying to is a partner by registering on their site. However the catch here is that the loans offered may require collateral in home country.
Europe:
1. IESE - Global Loan Program with Banco Sabadell, the fourth largest bank in Spain.
2. IE Business School with IE and Caja Madrid Loan arrangement
India
1. ISB - Various Collateral Free Loans
2. Paras Education Foundation - They state that they provide collateral free loans but I have my doubts. This seems to be mentioned in many places and there are some discussions about it here at PG too, but I am inclined to think that one should be very very cautious while dealing with them as several people have reported charges being asked merely for information only to be later told that they would not be able to provide finance. Also it is difficult to locate anyone who has taken a loan from them.
Canada
1. Rotman - BMO and RBC Interest-Subsidized Tuition Loan International Students (those on a student visa) are eligible to be considered for PSLP options at both institutions, however, the maximum loan amounts may vary, and/or some students may require a Canadian co-signer.
Singapore
INSEAD - Prodigy - Prodigy is an amazing concept by three INSEAD alumnis. Read more at their site.
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I am still researching several other B schools and will add to the list if I find other top institutions which have similar Loan program partnerships. I am looking at the major colleges in Singapore, SMU, NUS, NTU and they do not *seem* to have any Loan partnerships with Banks to provide loans to International Students. Current students, who may have more info, can please correct me if I am wrong.
Similarly I could not locate funding programs for Australian MBS or AGSM. To my knowledge these schools do not assist in obtaining Loans in Australia.
UK is deliberately absent from my research as I have no plans of going to the UK in the current climate. I would request someone who is in UK to provide the info, if possible, about B schools which assist in obtaining co-signer free loans to international students. I am inclined to think (without research, so I may be wrong) that there wouldn't be any Bank/Financial institution in UK providing co-signer/collateral free loan to internationals.
That's about it for the time being, will update if I have more info. Once again I request everyone to please chip in with their knowledge about top B schools and their Loan programs without Co-Signers for Internationals.
Hi everybody.
I wanted to complete the article by posting other interesting options for financing our MBA.
In Germany, several business schools like WHU have an education fund that offer loans for the tuition fee in exchange of income dependent payments in the future, this is an interesting option as u don't have to pay anything if you're not earning money.
Also a friend of mine just recently crowdfunded his tuition fee by creating a campaign at Funding4Learning, a new crowdfunding platform for study projects. This is also an interesting alternative if you have friends willing to contribute to your education.
THX!!
@MANJULNEOGI said:Can anyone tell me maximum amount of education loan available in india to study abroad?
20lakhs .