Education loan for MBA : Filling the International MBA Financing Gap

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Education loan for MBA
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Filling the International MBA Financing Gap
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• One of the first things youll see on Harvard
  Business Schools cost summary page is a
  statistic in bold on the right-hand side of the
  screen. It reads, 65 of MBA students receive
  some form of financial assistance.
• The important part of this figure is that it
  represents a majority of MBA candidates. The
  surprising part is that the amount of MBA
  financing can seem so very meager.
• Its true youll pay a lot less for a (still
  fantastic) regionally-prominent business school
  than you would for Wharton, INSEAD, or London
  Business School.
• You still need to factor in the cost of living, a
  year or two without employment, and all the costs
  associated with the application process when you
  are calculating financing an MBA.

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• Excluding scholarships and bursaries, you would
  think that international MBA students would have
  more MBA financing options, simply because the
  pool of availability has doubled.
• But, thats just not the case. Students studying
  in their home countries have more viable options
  for financing an MBA, while international
  candidates have very few real options. Even
  banks, the traditional port of call for most MBA
  loans, are often a no-go zone.
• There are many, many reasons that lenders are
  hesitant to loan money for international MBA
  students.
• Many banks simply cannot price the risk involved
  with financing an MBA.
• More than that, individual banks (even prominent
  ones) dont have the resources necessary to track
  and collect money across international borders.

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• No institution wants to lend money to someone
  without a history. And, lets face it, even if
  you provide an American bank with French
  financial documents theyre not going to
  understand the context of
• those documents, even if theyve been translated,
  verified, or certified. They need a local
  financial history.
• In some countries, such as India, where
  international MBA study is almost a cultural
  norm, banks are willing to lend but the
  conditions associated with these MBA loans are
  often beyond the comfort limit of applicants.
• Developing countries may have prohibitive fiscal
  policies in an attempt to ensure citizens return
  to reinvest their skills at home.

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• Education loan for MBA are available to
  qualifying international students up to the
  amount of tuition and, as with any financial
  loan, youll need to demonstrate a stable
  financial history in your home country.
• And remember, like any other loan, it has to be
  repaid in a timely fashion.
• But just the possibility may be enough to take
  some of the sting out of paying for an MBA,
  regardless of the price tag, the program, and the
  demographics you fall into.
• Source http//www.topmba.com/blog/filling-interna
  tional-mba-financing-gap

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