Posts Tagged ‘loan#8217;

26
Oct

If you are admitted to a full-time program or you are a Spanish fiscal resident admitted to a part time or blended format program from IE and plan on applying for a loan from one of our partner institutions take note of the below application periods and deadlines.

For more information on our Banco Sabadell loan offer, see: www.ie.edu/bancosabadell

For more information on our Banca March loan offer, see: www.ie.edu/bancamarch

Loan Applications Periods by Program

Below are date ranges that indicate when you can apply for a loan for your program.  Applications sent outside these date ranges will not be accepted.

Master in Advanced Finance (January ’13 intake): 1-30 November 2012
Master in International Management (February ’13 intake): 1-30 November 2012
Executive MBA+ (February ’13 intake): 1-30 January 2013
Executive MBA+ (March ’13 intake): 1-28 February 2013
Executive MBA+ (April’13 intake): 1-30 March 2013
Executive MBA+ (May ’13 intake): 1-30 April 2013
Executive Master in Positive Leadership and Strategy (April’13 intake): 1-28 February 2013
Global MBA+ (April’13 intake): 1-30 March 2013
Master en Asesoría Jurídica de Empresas (LL.M.): (February ’13 intake): 1-30 November 2012
Global MBA+ (March ’13 intake): 1-28 February 2013
International MBA (April’13 intake): 1 January-28 February 2013
Master in Architectural Management and Design (February ’13 intake): 1-30 November 2012
Global Executive MBA (June ’13 intake): 1-30 May 2013
IE Brown Executive MBA (March ’13 intake): 1-30 February 2013

28
Aug

If you have gained admissions to an IE master program and are looking for student loan options in Taiwan then it may be worth checking out the loans offered by the Department of Education, Taipei City Government.

For more information, see the Taipei City Government link here (information only available in Mandarine).

Loan applications must be processed directly with the lending authority.

12
Jul

If you qualify for Sallie Mae loans, then you should have a look at the below documents before contacting them.  Below you have a brief description of what each PDF provides from an information perspective, then you can download each document by clicking on the indicated link.  For additional information, visit the Sallie Mae web page at www.salliemae.com.

Information About Smart Option Student Loans from Sallie Mae

1) How cosigners can help your application (download here)
2) Overview and tips on repaying your loans (download here)
3) Tips for students who need a loan for studies outside the US (download here)

Smart Option Student Loans are a great option if you need a student loan and intend to return to the US for work after your degree program at IE, as both your student debt and earnings will be in US Dollars.

29
Jun

Bank Republic (Société Général Group) is offering loans for master degree studies abroad, to cover tuition fees, accommodation, travelling, food and other expenses related to your program of study.  These loans are available for the Top 50 institutions worldwide, as ranked by the Financial Times, and IE is on the approved list (see the list here).

What’s innovative about the loan offering is that they offer some special incentives:

– If you graduate from IE, the interest rate of your loan will be reduced by 0.5%
– If you graduate with excellent marks, the interest rate of your loan will be reduced by 1%
– If you finish studies with your GPA 3.6 or higher, Bank Republic will offer you a 2-month internship at their Head Office

To learn more about the loan offering, see here.

29
Jun

RBC is offering a line of credit for professional students who wish to study outside of Canada.  They describe the loan product as:

“If you’re attending college or university outside of Canada, RBC has the funding you need to help further your education and gain international experience. The Royal Credit Line® for Students is a great option for you, with preferred interest rates and the credit limit you need.  This line of credit for Professional Students is designed exclusively for students like you, with limits up to $100,000. Plus, we provide a full range of services to help you manage your financial affairs while you pursue your professional degree abroad.”

To learn more about this option, click here.

14
Mar

A recent article from Bloomberg BusinessWeek talks about the worsening student loan situation in the US:

“Students may be struggling with debt more than we knew, according to a team of five researchers at the Federal Reserve Bank of New York. They explain that borrowers were late on $85 billion in student loans in the third quarter of 2011, which at face value is about 10 percent of the $870 billion in total outstanding student debt. While that rate is more or less in line with other forms of consumer debt like credit cards and mortgages, it is also “understated,” the team says, because not all student loans can be delinquent…”

To see the full article, click here.

2
Mar

It is with great pleasure that we announce we are now offering student loans for IE University Bachelor Degree students who wish to finance a portion of their tution fees directly with IE and Banco Sabadell.  While we will be providing more information over the coming weeks, the basic facts to keep in mind are below.

Where can I find more information about this new loan option for Bachelor Degree students at IE University?  Navigate to web page by clicking here.

Who can apply for these loans?  Bachelor Degree candidates from IE University who require funding, and who’s parents are willing to support the loan application.  This loan is intended for all new students who have not yet started their program at IE University.

When do students have to apply?  Before the start of the academic year, students are not allowed to apply once they’ve already started their program.

What are the rates on loans from Banco Sabadell? For Spanish fiscal residents it is the 12-month Euribor rate + 1,50%, for international candidates who do not have Spanish fiscal residency the rate is the 12-month Euribor rate + 3,00%.

Are student loans also available for Bachelor Degree candidates from Bankia and Banca March as well? No, currently we are only offering student loans for admitted bachelor degree candidates from IE University, through our partnership with Banco Sabadell.

Who is Banco Sabadell? It is the the sixth largest banking group in Spain. The first in the IBEX35 to win the European Golden Seal of Excellence and the only banking entity in Spain with a especialized branch network dedicated to international clients who call Spain home.   For more information, see the bank’s web site here.

Where can I get more information?  For more information on this program funding option for undergraduate degree candidates at IE University, contact Financial Aid at financialaid@ie.edu.

11
Jan

Information for US Students: Sallie Mae and Place Reservations.

Written on January 11, 2011 by Joël McConnell in Uncategorized

Just a quick clarification for our students coming from the US and who plan to fund their program partially or entirely with a Sallie Mae Smart Option Student Loan: Sallie Mae loans cannot be used to pay Place Reservation and/or IE Foundation fees.  Below is more information on this policy and our recommended alternative course of action.

Why can’t I pay my Place Reservation and IE Foundation contribution with my Sallie Mae loan?

IE has a strict policy of not returning Place Reservation or IE Foundation fees if a student ends up not joining the intake for which they have committed to.  This policy is based in the fact that when a student makes their place reservation and IE Foundation payments, IE issues legal documentation which is valid for student visa processing purposes.  Also, when a student commits to a given intake, necessarily the spot cannot be given to another deserving candidate and it’s not fair to other candidates if a confirmed candidate pulls out of the program.

While we have the Place Reservation and IE Foundation policy clearly in place, we also must abide by regulations and laws applicable to a partnerships, such as the one we have with Sallie Mae.  Since our agreement with Sallie Mae is such that we return funds to the financial institution if the student does not attend the program, Sallie Mae loans cannot be used to pay Place Reservation and IE Foudnation fees given our policy of not refunding these payments, for the reasons stated above.

What should I do then, with regards to guaranteeing my place in my chosen intake?

What our students do is usually to use personal savings, company support or some other financial backing to bridge the short term financial need.  So for example, a student may borrow the amount equal to the Place Reservation and IE Foundaiton fee from their personal savings or line of credit, a family member or even their company, and then later once they’ve begun their program and the Sallie Mae funds have arrived to IE, any funds over and above those required to pay their tuition fees in full is sent directly to the student to manage as they see fit.  The excess funds can be used to repay the savings account or other source of funds used to pay the Place Reservation and IE Foundation fee.  Again, keep in mind, the Place Reservation and IE Foundation fee is non-refundable.

Final point worth keeping in mind: single disbursements, tuition fees must be paid in full first.

IE’s master programs generally follow the 1-year model most common in the EU, and as students generally take out a Sallie Mae loan for both tuition and living expenses, IE has a strict policy of receiving the funds in 1 single disbursement.  Why?  Simply, this way you take care of your tuition pending up front, and then we can send you the balance of funds to meet your living expenses and other needs.  We do not release any funds to students until they’ve paid their tuition fees in full.  One of our roles as a Sallie Mae partner institution is to ensure students are being financially responsible, and this policy ensures students don’t inadvertantly find themselves in a difficult financial situation that could result in the student having to withdraw from the program before they obtain their degree.

17
Jun

As a reminder, Sallie Mae® will soon be offering students and families a second repayment option for the Smart Option Student Loan. The new $25/month fixed repayment option will be available on new 2010-11 academic year applications initiated on or after June 28. This new repayment option is available to students and families at all Smart Option schools (IE Business School is a Smart Option Loan school).

26
Apr

All students who wish to apply for a loan from either of IE’s in house loan partners – Banca March or Caja Madrid – must have their complete application submitted before September 1st, 2010.  No late applications will be accepted as the typical processing time for loans, including the document processing with the Spanish tax authorities, takes upwards of 8 weeks.  To learn more about both loan programs and to apply see the following web pages:

1)      Banca March – www.ie.edu/bancamarch

2)      Caja Madrid – www.ie.edu/cajamadrid

Keep in mind that when students first submit their application, often additional documentation is necessary so apply well before September 1st to ensure Financial Aid will accept your loan application.  Also keep in mind that although all applications will be considered, the banks have the final decision on whether or not to offer a loan so it’s important to have a plan B in place.

For support with your loan application, contact us: financialaid@ie.edu

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