• Business School
    • Free MBA Admissions Consultation
    • MBA Admissions Services
    • School-Specific MBA Essay Tips
    • Executive MBA Essay Tips
    • MBA Admissions Calendar
    • Free Guides
    • Video Tips
    • Podcast
    • Selectivity Index
    • EMBA: The Ultimate Guide for Applicants
  • Medical School
    • Free Med School Admissions Consultation
    • Med School Admissions Services
    • Med School Admissions 101
    • Secondary Essay Tips (by School)
    • Student Interviews
    • Free Guides
    • Video Tips
    • Podcast
    • Selectivity Index
  • Law School
    • Free Law School Admissions Consultation
    • Law School Admissions Services
    • Law School Admissions 101
    • Selectivity Index
    • Free Guides
    • Podcast
    • Video Tips
  • Graduate School
    • Free Grad School Admissions Consultation
    • Grad School Admissions Services
    • Grad School Admissions 101
    • Free Guides
    • Video Tips
    • Podcast
  • College
    • Free College Admissions Consultation
    • College Admissions Services
    • Free Guides
    • Supplemental Essay Tips
    • Video Tips
    • Podcast
Accepted

Speak with an Accepted admissions expert for FREE!

Blog HomePodcastContact Us

Accepted Admissions Blog

Everything you need to know to get Accepted

March 5, 2009

Reading Time: < 1 minutes

No Co-Signer Loans for Int’l MBA Students

Now, what you’ve all been waiting for… GMAC announced today a new loan program for international students. To quote the press release:

“Responding to a request from the Graduate Management Admission Council® (GMAC®), a leading international bank has joined with experienced service providers in student financial aid to create a new pilot lending program for international students who attend graduate business schools around the world.

“The pilot is prepared to provide at least $500 million in loans to students in about 40 business schools in the United States and Europe, beginning with the 2009-10 academic year.

“International students, who comprise a high percentage of all U.S. graduate business school enrollment, have been especially hard-hit by the financial crisis. They are not eligible for federal loans and several major lenders have terminated the “no-cosigner” student loan programs that were widely used by this group.

“The new lending structure is designed to be school-centric and school-controlled and is not dependent on any particular bank or group of banks. Students who borrow under the program will not be required to secure co-signers. Schools involved in the program will not own loans, incur up-front costs, or have liability for individual loan defaults.

“A key participant in the project is Kevin Moehn of Moehn Management, Inc., a new company established to bring lending organizations together to facilitate student loans through a program that “delivers a sustainable and dependable structure for business schools to finance international students.'” Emphasis added.

The press release did not indicate which 40 schools will participate in the program.

TweetIt from HubSpot

Article by Linda Abraham / MBA Admissions / finance, Financial Aid, GMAC

Get Accepted!

Sign up for a free consultation today!

Which program are you applying to?

Most Popular Blog Posts

1. 7 Simple Steps to Writing an Excellent Diversity Essay

2. 4 Ways to Show How You’ll Contribute in the Future

3. How to Write About Your Research Interests

4. Tips for Answering the Yale University Supplemental Essays and Short Answer Questions [2022-2023]

5. When Will Medical Schools Give You an Answer?

6. Sample Essays from Admitted HBS Students

7. Tips for Answering the University of Pennsylvania Supplemental Essay Prompts [2022-2023]

8. Top STEM MBA Programs: A Comprehensive List and Overview of STEM-OPT Eligible B-Schools

Sample Essays

MBA Personal Statement Examples

Medical School Personal Statement Examples

Graduate School Personal Statement Examples

Law School Personal Statement Examples

College Application Essay Examples

 

This Site is Featured on GMATClub

Home Page Services and Prices MBA Med School Law School Grad School College

About Us Press Room Contact Us Podcast Accepted Blog
Privacy Policy Website Terms of Use Disclaimer Client Terms of Service

Accepted 1171 S. Robertson Blvd. #140 Los Angeles CA 90035 +1 (310) 815-9553
© 2022 Accepted

BBB A+ RatingStamp of AIGAC Excellence

Copyright © 2023 · Education Pro Theme on Genesis Framework · WordPress · Log in