Scholarships in US for MBA

MBA
1

Hi, I was wondering if there is any info available on scholarship details for B-schools in the US. What is the general % of tuition waiver available for the schools? Are there schools offering 100% scholarships? If yes, which schools and what …

2

Hi,
I was wondering if there is any info available on scholarship details for B-schools in the US.
What is the general % of tuition waiver available for the schools? Are there schools offering 100% scholarships? If yes, which schools and what is the general criterion?

If anyone has any info please share.

Thanks,
Mini

3

Scholarships are mainly on merit basis. There is no particular school giving out scholarships. If you apply to a school where your profile is much above the average of that school (gmat,gpa and work ex) you can expect a good amount of scholarship.
Most BSchools in the US also offer Graduate Assistantships or Research Assistanships. These assistantships give you a stipend which looks after your living expenses and also a fee waiver. But this depends on your rapport with the professor and availabiltiy. Mostly GA's and RA's are given to second year students.

4

Thanks for this!

What about US Student loans like Stafford loans etc. Can we apply for them from India if we have a co-guarantor or we need to take only bank loans from India?

5

You can opt for loans.. provided you have a co-signor with a very good and stable background. These loans are good becoz you gt loans for a period of 10-15 years at very low interest rates bout 4-4.5 % interest. Whereas in Indian banks give maximum of 20 Lacs loan with bout 10% Interest n pay back period is about 5-7 years...
If you have a strong co-signor nothing like it.

6

Well yeah.. I have my cousin brother there. He is a Green card holder.
But how do we apply for Stafford loans from here?
Do you know the process?

7

sorry no idea. havent considered this option so havent done much research on it..

8
You can opt for loans.. provided you have a co-signor with a very good and stable background. These loans are good becoz you gt loans for a period of 10-15 years at very low interest rates bout 4-4.5 % interest. Whereas in Indian banks give maximum of 20 Lacs loan with bout 10% Interest n pay back period is about 5-7 years...
If you have a strong co-signor nothing like it.



How to apply for loans with a co-signor? I mean is it a bank loan or private funding from someone..Also is it necessary that the person should be a relative..Can business associates be co-signors??
And if we apply this sort of a loan than should this info be put on our visa application??
9

Any Federal government backed loans are for US citizens and permanent residents (green card) only. Plus you need to qualify based on your financial status. International students are totally shafted in this regard, so you need a cosigner to get a loan at better rates.

Merit scholarship might be the only way right now and you need to kill the GMAT in high 700's for it.

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Well stafford loans are for US CITIZENS OR GREEN CARD HOLDERS. you can opt for loans from india or abroad with co-signers

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Kini444 Says
Well stafford loans are for US CITIZENS OR GREEN CARD HOLDERS. you can opt for loans from india or abroad with co-signers


Suppose I have a US co-signer and I want to take a student loan in USA, what are my options (I mean which banks/loans)?
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mundasingh123 Says
dont some college give loans to international students?

Yes, but very few.
That's why I asked about the possibility of loans in US.
14

The loan rates are LIBOR/Prime + x% and it is a variable rate for most student loans. The + X% depends on the school and your credit history (which you will have none). Right now, the prime rate is around 3.25% but rising b/c 10 year Treasury rates went up in the latest auction. Plus given if you are an international, they would do anything to increase the margin so the rates can be anywhere between 8-12% which is ridiculous.

15
chitownspecial Says
The loan rates are LIBOR/Prime + x% and it is a variable rate for most student loans. The + X% depends on the school and your credit history (which you will have none). Right now, the prime rate is around 3.25% but rising b/c 10 year Treasury rates went up in the latest auction. Plus given if you are an international, they would do anything to increase the margin so the rates can be anywhere between 8-12% which is ridiculous.


Thanks!
But if I take a co-signer from USA, the rate should be lower (based on his credit history), right?

Could you please tell me about the other options available for funding (i.e. sources of loan besides Citibank) in USA? I have a USA co-signer.
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Thanks!
But if I take a co-signer from USA, the rate should be lower (based on his credit history), right?

Could you please tell me about the other options available for funding (i.e. sources of loan besides Citibank) in USA? I have a USA co-signer.


I am not an expert on this but with a cosigner the rate should go down for sure but all the banks are about the same in rates and out to skin you alive. I know that few schools are good about taking care of the international students. I was at admit weekend at Michigan this past week and I talked to an Indian student who decided to come to Michigan because the availability of loan and decent rates.

There are other banks like Bank of America, JP Morgan Chase et al. However, once you are accepted ask each school for a guide and they will try to help you. I know that rates might differ between schools. Overall, better the school the lower rates should be. So try your best!
17

Thanks for the heads-up..
This info will surely help us...

So the US cosigner should not bear any additional responsibilities or problems, right?

On second thought, we need to go to US to apply for the loan right? Probably once we get an admit? Wat do you say?