This week, the University of Chicago Graduate School of Business announced a guaranteed loan program for international students that covers the full cost of tuition, housing and related expenses. According to a statement released by the school, all international students in the MBA and PhD programs qualify for the loan program and no U.S. cosigner is required.

The new program replaces one that ended abruptly in July when the Illinois Designated Account Purchase Program (IDAPP) failed to renew its line of credit due to disruptions in the capital markets. Administered by Citibank, the Chicago GSB International Loan Program is available to returning students as well as new students entering the school in September.

“In order to obtain the best terms for our students, the school is contributing funding to the new program,” says Rosemaria Martinelli, associate dean for student recruitment and admissions, adding that compared with the previous loan program, the new rates and terms are more favorable to students.

The school is committed to ensuring that all students, regardless of citizenship, have access to funds by the start of classes on September 25, Martinelli explains. An online application will be used to simplify the process for applying for a loan. Students will be able to borrow up to $150,000 and have 20 years to repay. Payments can be deferred to begin six months after graduation.

The University’s arrangement with Citibank is for one year. Beginning next year, Martinelli says Chicago GSB expects to offer international students a choice of several loan programs from multiple lenders.

What’s on the minds of Chicago GSB students? Read these blogs to find out.

http://i4iday.blogspot.com/

http://run-forrest.blogspot.com/

http://the-dirty-canuck.blogspot.com/

http://tombaornot.blogspot.com/

For a concise, thoughtful guide that will help you navigate the MBA admissions process with greater success, order our NEW book, The MBA Application Roadmap.

The Financial Times offers a comprehensive look this week at financial training programs. European business schools have traditionally run Master’s in Financial Engineering (MFE) programs, as compared to financially-oriented MBAs in the United States. But new, specialized degrees are on the horizon here and abroad.

According to FT, European business schools have launched, or will launch, nine specialized masters degrees in finance–schools such as Cass Business School and the London School of Economics in the UK and EM Lyon and Edhec in France. IE Business School in Spain and The University of Strathclyde in Scotland are launching programs in 2009.

In the US, Purdue’s Krannert School of Management, Pepperdine and Rochester are launching programs this year. The Anderson school at UCLA will enter the fray with a degree in financial engineering in 2009, the article reports, adding that MIT’s Sloan school of management is also expected to launch a masters in finance degree in the next year.

The growth in demand mirrors the growth in the financial services sector but also reflects a growing demand for technical knowledge, says Sabine Vinck, associate dean of the London Business School Masters in Finance program. “Finance is a specialist industry and it is more and more a technical industry.”

The Haas School’s Master’s in Financial Engineering (MFE) Program is featured prominently in this special section. “Jobs Outside Wall Street and the City” describes the placement success of Haas MFE graduates. Another article, titled “Global Links Help Talent Pool Flourish,” describes how the Monetary Authority of Singapore, Singapore’s de facto central bank, created a scholarship initiative to train talented Singaporeans at the Haas MFE program.

The Fuqua School of Business at Duke University will soon offer two virtual information sessions for those interested in their Advanced Management Program. These 30-minute online sessions use web meeting technology to deliver a live presentation by an Executive Education representative followed by an online chat session.

Learn about Executive Education at Fuqua on Wednesday, June 25, from noon to 1 p.m. EDT, or on Wednesday, July 23, also noon to 1 p.m. EDT. You can fill out a form here to receive a link to the virtual information session.