International students attending MBA schools in the US and Canada have to overcome many challenges – cultural differences, financial problems, and perhaps even the pressure of school work before earning a degree. Funding doesn’t have to be one of them. We can help you find the best student loan products available.
IN Find My MBA Student Loan The comparison tool is designed for international students to quickly find the most suitable loan to apply for to cover the full cost of your MBA. Plus, it only takes one minute to get a personal report.
When exploring student loan options, you should consider whether the loan requires a collateral or guarantor, and the terms of the loan as part of your overall financial plan.
Variable rate loans, also known as floating rate loans, have loan terms that vary depending on two factors: the benchmark is usually based on the London Interbank Offered Rate (LIBOR) or another federal rate, while the fixed spread assesses the likelihood of loan repayment by the borrower. Variable rate loans are risky because, unlike diamonds, the interest rate is not permanent; even if a low LIBOR rate initially gives you a low interest rate, if LIBOR increases, so does your interest rate. In contrast, fixed rate loans remain the same throughout the life of the loan, but of course this can also be risky because if the borrower starts with a high rate, this rate will remain high throughout the life of the loan.
When you start doing the math, you should also take into account other loan terms, which can affect when you pay and how much you pay. Are there penalties for early repayment or early repayment of the loan? Are there penalties for late payment? What is the actual monthly payment process? Can I change the terms of loans? And when can you afford to be entertained again?
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Funding required? Financing MPOWER offers student loans to international MBA students without surety, collateral or credit history in the US