Do students need to pay those loans off immediately? Or, is payment deferred until the end of the MBA program?
The general policy for paying back federal loans is six months following graduation. And there is no interest that accrues on the first $8,500 you take out. No foreign students, of course, qualify for a federal loan, and few are actually eligible for private loans because many do not have the backing of a U.S. citizen cosigner. Has Kenan-Flagler partnered with any lenders or launched any innovative loan programming that lowers the restrictions encountered by the school’s international population? Yes, I’m delighted to say that we have. We just launched a program in February of this year with NationsBank, named the NationsBank Loan Program. And the beauty of this loan program for internationals is that there is no requirement of a U.S. cosigner. So far, we’ve had quite a number of inquiries from our international students about receiving an application for the loan. Domestic students can apply for this loan program as well. However, the origination fee is 9% as opposed to other programs
