The Haas Financial Aid Office has secured a new loan option beginning spring 2015 for the Executive MBA international students who do not have access to a U.S. Co-signer. The lender was selected based on the ability to make loans at reasonable rates for a population of students ineligible for Federal Loans and who do not have access to a U.S. co-signer.
Elements Financial Custom Graduate Loan
Please note, you cannot borrow for past terms and there are deadlines associated with the borrowing for a current term. Please contact our office for details. Certified funds will disburse in equal portions ove rthe length of the eligible loan period.
Borrowing Limit: $20,000 per term*
3% fee, added to the principal
Interest rate: Prime + 3.5% (7.50% as of July 2017)
Credit Review: None required
6 month Grace Period
20 year repayment, No pre-payment penalties
0.25% interest rate reduction for auto-debit payments in repayment
*Borrowing limits are based on the ability of the school to share in the risk associated with their loan. Limits may be impacted by other sources of funding including but not limited to scholarships/ fellowships, sponsorships and private loans certified through our office.
In addition to risk-share loans, other lenders such as Prodigy Finance offer loans to international students without the need for a co-signer. These lenders will have varying qualifications (e.g., credit check), loan terms and loan maximums. Students are encouraged to carefully explore all loan options available to them.
The Haas Financial Aid Office does not receive, and will not accept, inducements from lenders in exchange for inclusion on the International Loans information page, nor does the Haas School of Business share in the profits from student loans.