In a recent Boston Globe Article, reporter Peter Schworm detailed what one US state is doing to top up other loan options for undergraduate students. The Massachusetts Educational Financing Authority, through a bond issuing scheme, has created a fund of US$300 million which will be used to provide competitive-rate loan options for Massachesetts residents. In the article Sallie Mae, Inc. spokersperson Martha Hollar also confirms that Sallie Mae is currently lending at rates of 4.5 to 14.5%.
We encourage you to investigate what options your state, province and/or regional government is able to offer you as a potential candidate for an IE degree. In Spain and various other European countries, governments at different levels offer various types of financial support, from basic mobility scholarships (for costs related to relocation within a country or abroad) to full tuition loan and/or scholarships. Times are challenging for those students who need financial aid, and while IE is doing all it can to support our best candidates through scholarships, fellowships and loan options, candidate now more than ever need to be creative when looking at how to source the funds necessary to meet program and living expense related costs.