International Students May Find It Easier To Get Loans
January 05, 2010
By the My MBA Career Content Team – Find Top MBA Degree Programs
International students who come to America in hopes of pursuing an MBA degree at one of the country's many business schools may soon be seeing more financial aid.
When the economic crisis first began, many banks were pulling international students' financial loans, according to BusinessWeek. Many students were also faced with the prospect that some lenders were no longer willing to hand out loans.
Because of this problem, the Graduate Management Admission Council (GMAC) announced they will be creating a program to better assist international students in their quest to further their education.
Creating a lending program known as Affiliated Loan Program for Students (ALPS) through Deutsche Bank, the plan has been able to issue 3,500 student loans totaling more than $100 million in funding.
While MBA programs may be expensive, there are many student loans available for individuals who require financial assistance. Additionally, certain students may qualify for tax breaks if they're pursuing the degree while holding a full-time job, possibly exempting the tuition from taxable salary.
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Related Article Topics: International MBA
