A Lifeline for Foreign MBA Students

[guest]

Six universities have joined a new program of "no co-signer" loans for international students at U.S. B-schools, and more are on the way


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[flora]

A life for foreign MBA student a number of top schools signed on to ALPS in 2009, including Northwestern University's Kellogg Graduate School of ManagementKellogg Full-Time MBA Profile, the University of Rochester's Simon Graduate School of BusinessSimon Full-Time MBA Profile, and UCLA's Anderson Graduate School of ManagementAnderson Full-Time MBA Profile, among others. Six universities and 15 graduate programs are now using the lending program, most of them business schools. The program holds appeal for international students because it doesn't require them to have a U.S. co-signer to take out a loan, a crucial requirement for many students, schools say. Over the past year, ALPS hasso far issued about 3,500 loans to foreign and domestic students, and loan volume is upwards of $100 million, organizers say. Business schools are not the only ones taking an interest in the loan program; graduate law and medical programs are also taking note, and more schools are expected to join in 2010, says Kevin Moehn, president of Moehn & Associates, the loan program's administrator, who's in the midst of signing agreements with at least four other universities. "As we get more schools on board, I'm convinced we'll get some momentum," Moehn says. "We are very pleased with this year's volume, and we believe we should at least double the number of schools we have in 2010


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