I just received an exciting email from Cornell Johnson stating unequivocally that they’ll “have at least one new no-cosigner loan program [for international students] in place by the time our students arrive for classes in August 2009.” In addition to this exciting news is the announcement that followed: this year Cornell will include students accepted in Round 4 in the scholarship pool, in contrast to its previous rule of only considering applicants up to Round 3 (January) for these awards.
Other top MBA programs have informed Accepted of their participation in the GMAC-facilitated no-cosigner loan program, including Michigan Ross and Berkeley Haas. Moreover, Haas has also told us that in addition to the increase in scholarships that they mentioned to us a few months ago, they will also be providing no-cosigner loans of up to $20,000 per year directly from the Haas School.
In a similar vein, MIT announced in its recent Accepted chat that incoming students – both domestic and international – have guaranteed loans, HBS announced a new program with JP Morgan that will provide its international grad students with no-co-signer loans, and Chicago is “confident” that it will have a no-cosigner loan program for international students in place for the incoming class this Fall.
Once again, the top MBA programs are making it abundantly clear that they will bend over backward to help both international and domestic applicants make this year the year to enroll in an MBA program. I am significantly more bullish on the late application rounds as a result.
Senior Editor Jennifer Bloom has been successfully helping applicants to the top MBA programs in the third round for 10 years.