International Student Loan Program at University of Chicago Graduate School of Business

The University of Chicago Graduate School of Business announced an international student loan program for global students who enter its M.B.A. and Ph.D. programs. The loan is guaranteed and the international student doesn’t need an American co-signer to secure the loan.

Citibank is administering the loan. The student loan is available to both new and returning students, starting this fall. An international student can borrow up to $150,000–with 20 years to repay–which can cover full tuition costs, housing and other college-related expenses.

A spokesperson for the university stated that the loan terms are more favorable to students than the last loan program it offered. The previous loan offered at the school had lapsed because the company didn’t renew its line of credit due to disruptions in the capital markets.

Citibank’s contract with the school is for one year, although next year the school stated that it expects to offer international students choices from several student-loan lenders.

The University of Chicago offers full- and part-time M.B.A. programs, with both evening and weekend schedules. Visit http://ChicagoGSB.edu to find out more.

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