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There are many sources for private
loans. I've listed just
a few below. Apply for federal Stafford loans first, but be sure to ask your
schools financial aid office about applying for funds from the
following sources if your grants and federal loans dont cover all
of your costs.
A.
MBA Loans
Qualifications:
Must be a
U.S. citizen or permanent resident.
Maximum:
Cost of education less other aid received.
Rate:
Varies with credit history and whether you have a cosigner.
Interest:
Accrues while student is in school and is capitalized at graduation.
Fees:
None, but rates vary depending on credit rating.
Repayment:
Begins 6
months after graduation.
B.
Business Access Loans
Qualifications:
Must be a
U.S. citizen or permanent resident.
Maximum:
Cost of education less other aid received.
Rate:
91-day U.S. Treasury Bill rate plus 3%
Interest:
Accrues while student is in school and is capitalized at graduation.
Fees:
6 percent up front plus 1.5 to 6.9 percent at repayment.
Repayment:
Begins 9
months after graduation.
C.
CitiAssist
Qualifications:
Must be a
U.S. citizen or permanent resident.
Maximum:
$15,000 annually.
Rate:
Variable. Prime plus 1%
Interest:
Accrues while student is in school and is capitalized at graduation.
Fees:
No fees.
Repayment:
Begins 6
months after graduation.
D.
MBA EXCEL
Qualifications:
Must be a
U.S. citizen or permanent resident.
Maximum:
$15,000 annually (w/o cosigner);
Cost
of education less other aid (w/ cosigner)
Rate:
Monthly Variable Program: Prime plus 1%
Annually
Variable Program: Prime
plus 2%
Interest:
Accrues while student is in school and is capitalized at graduation.
Fees:
Without a
cosigner: 9 to 10 percent
With
a cosigner: 7 percent
Repayment:
Begins 6
months after graduation.
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Work-Study for MBAs |
