Risk-Share Loan
Haas has secured a loan option for international students that does not require a co-signer (“risk-share” loans). The lender was selected based on their ability to make loans at reasonable rates for a population of students ineligible for Federal Loans and who did not have access to a U.S. Co-signer or an SSN, and based on the ability of the school to share in the risk and make this option possible.
The combined borrowing capacity for the risk-share loan option below is $30,000 for the 2018-19 academic year. Borrowing limits on the risk-share loan for international students are revisited every year. Students may not combine risk-share lending with other lending options.
Please note, students are not responsible for making loan payments on this risk-share loan while enrolled in at least 6 units or during the grace period. The grace period commences after graduation, or after dropping below 6 units. Borrowers of these risk-share loans are expected to maintain a cumulative 3.0 GPA to be eligible for loan disbursement.
Continuing students: If you will be on exchange in fall, you must complete any required loan documents before leaving for the summer because documents must be completed in person.
The Cost of Attendance will guide the total amount of loan you are able to borrow from any source. Limits may be impacted by other sources of funding including but not limited to scholarships/ fellowships, sponsorships and private loans certified through our office.
Loan maximums will be the lowest of either
- the total cost of attendance minus other expected financial aid
OR
- the loan maximum for the loan program
2018-2019 Discover Custom Graduate Loan
- Maximum: $15,000 per term
- No Fees Required
- 3-month LIBOR + 6.49% (starting rate currently 8.87% APR as of July 1, 2018)
- 9 month Grace Period
- 20 year repayment, No pre-payment penalties
- Visa documentation is required. Coordinate with Discover Student Loans.
- 0.25% interest rate reduction for auto-debit payments when in repayment period
- A negative credit history could affect approval
To apply for funds, go to the Discover Student Loan website for Haas Evening & Weekend MBA Students. If you need assistance during the loan process, please call their dedicated Custom Graduate Loan customer service number at 1-800-973-5145 as opposed to the generic number appearing on their website.
If you have or obtain an SSN while in the MBA program, be sure to update the lender for smoother servicing after you graduate!