Pilot Program to Provide Private Student Loans to International Students at 40 U.S. and European MBA Programs

A press release from the Graduate Management Admissions Council (GMAC) highlighted the following aspects of the program:

• Pilot has capacity to provide up to $500 million for international students at 40 business schools in the U.S. and Europe for the 2009-10 academic year
  
  • Assuming average loan size of $40,000 (my guesstimate), this would amount to 12,500 loans that this program has the capacity to make, or roughly 300 students at each of these 40 institutions. 
• An unnamed international bank will be partnering with experienced service providers to implement the program (seems a bit odd to me not to name the financial institution in this press release as it would be good publicity)
• Kevin Moehn, formerly of Sallie Mae,  who helped create MBA LOANS program, has started his own company to facilitate this international MBA student loan program
  • Here is a link to his company's website
• GMAC, a non-profit education organization of leading graduate business schools worldwide, may serve as advisor to the program, but will have no management, operational or financial interest, according to the press release. 

This seems a promising development (at least for these 40 schools) in helping solve an issue that we have posted extensively on. We will keep readers posted as more details become available. 

Related Posts: 

• January 22, 2008:  MIT Sloan School teams up with MIT Federal Credit Union
• December 16, 2008:  Sallie Mae responds to questions about loans to international students
• December 3, 2008:  Soft power and educating international students
• November 5, 2008:  Penn invites lenders to respond to RFP for international student loans
• October 13, 2008:  Citibank discontinues custom loan program for international students
• October 10, 2008:  NYU invites lenders to respond to RFI for private loans for int'l students

• Pilot has capacity to provide up to $500 million for international students at 40 business schools in the U.S. and Europe for the 2009-10 academic year
  
  • Assuming average loan size of $40,000 (my guesstimate), this would amount to 12,500 loans that this program has the capacity to make, or roughly 300 students at each of these 40 institutions. 
• An unnamed international bank will be partnering with experienced service providers to implement the program (seems a bit odd to me not to name the financial institution in this press release as it would be good publicity)
• Kevin Moehn, formerly of Sallie Mae,  who helped create MBA LOANS program, has started his own company to facilitate this international MBA student loan program
  • Here is a link to his company's website
• GMAC, a non-profit education organization of leading graduate business schools worldwide, may serve as advisor to the program, but will have no management, operational or financial interest, according to the press release. 

This seems a promising development (at least for these 40 schools) in helping solve an issue that we have posted extensively on. We will keep readers posted as more details become available. 

Related Posts: 

• January 22, 2008:  MIT Sloan School teams up with MIT Federal Credit Union
• December 16, 2008:  Sallie Mae responds to questions about loans to international students
• December 3, 2008:  Soft power and educating international students
• November 5, 2008:  Penn invites lenders to respond to RFP for international student loans
• October 13, 2008:  Citibank discontinues custom loan program for international students
• October 10, 2008:  NYU invites lenders to respond to RFI for private loans for int'l students

Comments

[dissertation writing]

Blogs are good for every one where we get lots of information for any topics nice job keep it up !!!

[Online Education]

We just updated our program for international students. Loans for both US students abroad and international in the US:

Visit:

www.privatestudentloans.com/international/

Yes - These loans do require a US cosigner.