Sunday, November 2, 2008

Stanford and HBS guarantee International Student Loans without a US Co-signer

A friend of mine, Nitin Rao, forwarded this information to me and it got me all excited. I am sure others reading it would be as happy as well. So what exactly am I talking about? Here you go...

Stanford MBA Admission Blog (Link to the actual post):
International students at the Stanford Graduate School of Business will not be impacted by Citibank’s decision. The GSB Financial Aid Office has a close working relationship with Stanford Federal Credit Union and for the past two years we have made arrangements exclusively through SFCU to provide international students at Stanford the ability to take out private loans without a US co-signer.

HBS MBA Admission Blog (Link to the actual post):
There's been great uncertainty out there about international student loans so we are extremely pleased to be able to make this announcement:International students at HBS will continue to have access to need-based loans without needing to find a US co-signer.While at this time we do not have further details about specific loan programs with private lenders, we are able to make this important - and reassuring - statement about continued accessibility.All students - both international and US citizens - will continue to be eligible for Harvard Business School fellowships - the money you don't pay back. This year HBS will award $22 million in need-based fellowships; the average MBA fellowship is $25k per year.

12 comments:

Prashant said...

Reliance also has a scholarship for Indians applying to Stanford, do check it out (though I think the deadline for Class of 2011 has passed). It sponsors the whole cost for 3 students and travel for 50. In return, you have to pledge to come back to India and work for at least 5 years.

I read this off the net somewhere and followed the link to the Stanford website.

And if I'm not mistaken, the TATA group has something similar at HBS (or was that Wharton?)

Cheers

Ashwanth said...

Hey Prashant,

Yes...I am aware of the Reliance scholarship, the results of which were announced on August 4th. Stanford will select up to 5 candidates from the short listed 50.

I did not apply for it because of the pledge. I want to grow into consulting before pursuing entrepreneurship and if that means working in a foreign country for a while longer then so be it. A constraint of coming back to India may or may not jeopardize my plans.

Anyways, I am pretty confident that I'll work out my finances for Stanford if I am admitted.

Whats happening with your ISB interview? Did you hear from the adcom?

Cheers

Prashant said...

Nyet... Nothing so far. I'll be calling them up in another 15-20 mins..

Ashwanth said...

oh...keep me posted.

Cheers

Prashant said...

Managed to speak with someone from the AdCom finally... As it happens, I've not been slotted yet, and should expect the details tonight/tomorrow morning.

My only worry is that I should be able to book tickets!!

Ashwanth said...

Yeah...I do hope they confirm your slot ASAP. I don't think you will have problem in booking a flight.

Let me know if you need any help here in Hyd.

Cheers

Prashant said...

Just called them up, the person who's looking into cases like mine is on leave today - he'd put in full days over the weekend. So I'll talk to him tomorrow.

Hey will definitely let you know in case I need help... But as such my ex-boss (and good friend) lives barely 9km from the ISB, so most probably I'll drop in at his place first (provided I've enough time).

Prashant said...

2PM on Monday for me... So I guess we'll meet only on 13th April now :)

Ashwanth said...

I just saw ur post on PG. 2PM on Monday does make it difficult for me to meet you on campus. I wish you the very best and yes...we will meet on April 13th :-)

Goutham said...

Good luck with your ISB interview...

Ashwanth said...

thanks Goutham

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