Ask an MBA Admissions Consultant

Hi,
Most universties ask us to show financial ability to pay for the mba.
I intend to secure a loan if I get admitted. and loans are available only on showing admission letters to the bank. how do i go about it?
thanks
warm regards
vishwanath

v1shwanath wrote:Hi,
Most universties ask us to show financial ability to pay for the mba.
I intend to secure a loan if I get admitted. and loans are available only on showing admission letters to the bank. how do i go about it?
thanks
warm regards
vishwanath

See after all that happened with Global financial markets, Most ,and i would say 99% except HBS ,are not having any strong statement on the international applicants loan. CITI has backed out .. But i am sure Schools atleast top 15 will work and get around this problem before the next session . Diversity is a very important factor for all Intl schools and they cant let that go .

I dont think any top university will ask for ur financial ability to pay for yr MBA . I am not sure which schools are keen on applying . But if are u planning to get a loan in India , Yes as u say u need to get the admit letter, Ur I - 20 shud be done , Visa processed... But if u see the cost of ur US MBA will range any where betweeen 120 - 170 k $ and Indian banks will hardly pay u anything .

If u dont have any one who can sign for u ( co - signor) a loan is US at this time is nearly impossible . I would suggest get in touch with the colleges u are applying/accepted and figure out how to go about . MBA is Indeed the biggest investment in Ones life time ,

Do let me know if u need any specific information . All the very best..

Sudhir

i will have a co-signer for my loans..but i fail to understand the sequence:
a) the universities ask for financial strength if not at the time of applying, at least when they offer you admissions. some university sites mention that this requirement is for issuing the Visa related form.
b) how do i get a loan arrangement at this stage. i.e while i am still in india, can i still get in touch with a US bank, show them my admit card and get a loan agreement?

This is probably not super helpful now but my best advice is not too worry too much about this. I've had plenty of clients with financial difficulty get into great programs. Generally the programs will help you demonstrate ability and will walk you through the process.

You can call any financial aid officer at your target school and they'll provide you with their specific process.

Best,


Jay

thanks Sudhir and Jay for your answers. like you mentioned Jay, I will wait to see if i do get admitted before worrying about finance.
thanks again !!