Press Release

August 22 , 2008

Contact: Allan Friedman
Phone: 773.702.9232
Email: allan.friedman@ChicagoGSB.edu

Contact: Barbara Backe
Phone: 773.702.4282
Email: barbara.backe@ChicagoGSB.edu

New guaranteed loan program for international students at the University of Chicago Graduate School of Business

The University of Chicago Graduate School of Business today announced a guaranteed loan program for international students that covers the full cost of tuition, housing and related expenses.  All international students in the MBA and PhD programs qualify for the loan program and no U.S. cosigner is required.

Administered by Citibank, the custom program for University of Chicago Graduate School of Business international students is available to returning students as well as new students entering the school in September.

The new program replaces one that ended abruptly in July when the Illinois Designated Account Purchase Program (IDAPP) failed to renew its line of credit due to disruptions in the capital markets.

“In order to obtain the best terms for our students, the school is contributing funding to the new program,” said Rosemaria Martinelli, associate dean for student recruitment and admissions. “Compared with the previous loan program, the new rates and terms are more favorable to students.”

The school is committed to ensuring that all students, regardless of citizenship, have access to funds by the start of classes on September 25, Martinelli said. An online application will be used to simplify the process for applying for a loan.

Students will be able to borrow up to $150,000 and have 20 years to repay. Payments can be deferred to begin six months after graduation.

The University of Chicago Graduate School of Business is one of the leading business schools in the world.  The school’s faculty includes many renowned scholars and its graduates include many business leaders across the United States and worldwide.

The Chicago Approach to Management Education is distinguished by how it leverages fundamental knowledge, its rigor, and its practical application to business challenges.

Chicago GSB offers a full-time MBA  program, an evening MBA program, a weekend MBA program, a PhD program, open enrollment executive education , and custom corporate education.

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