New Tuck Loan Program for International Students
The Tuck School of Business at Dartmouth College has created a new institutional loan exclusively for international students that requires no U.S. cosigner, the school announced Wednesday.
As the plan is laid out, a student with demonstrated financial need may borrow up to the cost of attendance, less other financial aid based on a needs analysis by the financial aid office. The loan has zero origination fees and the rate to borrowers, currently nine percent, is variable and adjusts annually. The repayment term is 10 years and begins three months after graduation, with standard or incremental repayment options available.
Assistant Dean and Chief Operations Officer Steve Lubrano says, “The private options we researched were far too expensive for our students. This program significantly lowers the cost of borrowing from what was otherwise available.”
Approximately one-third of the students who have attended Tuck in recent years are international students, the school reveals, and represent some 40 countries per year.
Dawna Clark, director of admissions, believes this is a great time for international students to enroll in an MBA program because of the global environment in which we live. “At Tuck, we believe that students who possess a global point of view not only add depth to the educational experience but are also poised for the most challenging and diverse career opportunities,” she explains.
(image courtesy of Flickr user Tracy O, CC 2.0)
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