Archive for the ‘Applying for a Loan | Solicitar un préstamo’ Category


A good little article has just been published by the WSJ, which will be of special interest to US-based candidates coming to IE this Fall.  The article talks about the challenges US students face when funding their studies, and specifically about US federal loans:

“Federal student loans have long been the option preferred by most borrowers. But annual interest rates on many of these government loans range from 5% to 7.9% at a time when mortgages are going for around 3.5% or less…”  To see the full article, click here.

For US candidates IE offeres a wide range of program funding options, and we are also an approved school for Sallie Mae loans, which is offering rates similar to US federal loans.  To learn more about the Sallie Mae Smart Option Student Loans, check out see the web page here.  IE is able to offer student loans in US Dollars to all qualifying US students who come to IE, and for both Bachelor and Master programs.


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

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.


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


If you are thinking of applying for a student loan from IE via one of our three loan programs, you must apply by the assigned deadline.  Late applications will not be accepted.

For international students you must apply 1 month before your program starts or by January 20th, 2012 – whatever comes first.  No application for a student loan, for an international student will be accepted after January 20th, 2012.  For 1) Spanish nationals who are fiscal residents as well as 2) permanent residents with fiscal residency who are applying from Spain, you need to apply approximately 10 business days before your program starts.  Since there are several programs beginning in the up coming term, please see the deadline schedule here for the specific deadline applicable for your program.

Document: Loan Deadline Schedule for Spanish nationals and permanent residents with fiscal residency.
Loans from IE:

Si estás pensando en solicitar un préstamo de IE a través de uno de nuestros tres programas de financiación, debes solicitarlo en el plazo asignado a continuación. Las solicitudes enviadas fuera de plazo no serán aceptadas.

Para los estudiantes internacionales se debe solicitar el préstamo un mes antes de que inicie su programa o antes de 20 de enero 2012 (según convocatoria). No será aceptada ninguna solicitud de préstamo de alumnos internacionales después de 20 de enero 2012. Para los estudiantes españoles residentes fiscales, es necesario solicitar la financiación aproximadamente 10 días hábiles antes del inicio del programa. Ya que hay varios programas que comienzan en el siguiente semestre, por favor vea el calendario de plazos aquí para la fecha límite específica que aplica para su programa.

Documento: Fechas límites para solicitar un crédito, para solicitantes de nacional española/con residencia permanente que tienen su residencia fiscal en España.
Créditos de IE:


As of today all newly approved loans with our lending partner Banca March will be subject to the following terms and conditions.  While we are currently updating the web site, the valid terms and conditions are the following:

  1. Maximum repayment period: Up to 10 years (120 months).
  2. Maximum grace period: Up to 2 years (24 months)
  3. Application fee: 0,25% of final amount of credit approved.
  4. Applicable rate: 12-month Euribor + 3,50 p.b. (Mminimum interest rate: 5%)
  5. Interest will be reviewed quarterly.

Los terminos de los créditos de Banca March han cambiados y todo crédito aprobado de Banca March desde hoy, día 16 de septiembre 2011, estarán sujetos a los siguientes terminos:

  1. Plazo de los préstamos: Hasta un máximo de 10 años
  2. Posibilidad de carencia de hasta 2 años
  3. Comisión de estudio: 0,25%
  4. Euribor 12 + 3,50 p.b. (Mínimo tipo de interés: 5%)
  5. Revisión semestral del tipo de interés.

If you are an undergraduate degree candidate at IE University, you are now elegible to Sallie Mae Smart Option Student Loans.   This includes postsecondary grades 1-5, so the loan works for both single and dual degrees.  For more information see Sallie Mae’s web site:


If you are thinking of applying for a loan from Banco Sabadell, remember the deadline is 15 July, 2011, if you are studying in the fall 2011 intake.  To learn more about the program and how to apply, navigate to

Banco Sabadell is our most competitive loan offering as it has a rate of Euribor+1,5% (as of June 15, this stands at approximately 3,60%), and international students can access up to 30.000€ in loans.

For more information, you can also contact financialaid @ ie. edu


Today, Sallie Mae announced new lower interest rates on the Smart Option Student Loan, across all three repayment options. For loans credit approved on or after May 16, 2011, Sallie Mae rates will range from: LIBOR + 2% to 9.875% (APRs: 2.25% to 9.37%).

And all students will also continue to benefit from having no origination or repayment fees, regardless of the applicant’s or cosigner’s credit. See below for more information on Sallie Mae Smart Option Student Loan…

Sallie Mae Smart Option Student Loan ®

With college costs growing fast, it’s time to borrow smarter. The Smart Option Student Loan offers multiple repayment options and competitive interest rates to help you pay for college expenses not covered by scholarships and federal loans.


• Competitive interest rates—2.25% APR to 9.37% APR
• No origination fees1and no prepayment penalty
• Pay now or later—defer your payments until after graduation or choose an in-school repayment option that fits your needs
• Borrow up to 100% of your school certified education costs (minimum $1,000)
• Get a 2% Smart Reward® in your Upromise® account when you make scheduled monthly payments on time while in school (Not available with the Deferred Repayment Option)
• New Free Tuition Insurance—covers up to $5,000 of tuition lost due to a covered medical withdrawal  (Available with loans that first disburse July 1 through October 31, 2011)
• Earn a 0.25 percentage point interest rate reduction while enrolled to make scheduled monthly payments by automatic debit
• Applying with a creditworthy cosigner may help you qualify and/or receive a lower interest rate.
• You can apply for a cosigner release after you graduate and make 12 consecutive on-time principal and interest payments

Visit for additional information. Terms, conditions and limitations apply.

Useful Brochures and Documents

1. Smart Option Student Loan Brochure
2. Smart Option Student Loan Tuition Insurance Benefit Flyer
3. Information for Parents Considering an Education Loan for their Student
4. Smart Option Student Loan Rewards Flyer
5. Getting a Cosigner Flyer


For our international students, please keep in mind that the temporary fiscal number we obtain for you is NOT the same as the NIE number the Student Office will help you obtain, as part of the Student Visa process.

To clarify:

1) NI stands for “Numero de Identificación” and NIF is a temporary fiscal identification number, where the F stands for the word Fiscal. NIE is a ID document that allows you to legally reside in Spain, and the E stands for the word Extranjero. NIE can work for both personal and fiscal identification, but NIF only works for fiscal purposes.

2) The temporary NIF (fiscal number which is valid for 3 months) allows Financial Aid to open a bank account and loan applications for you before you come to Spain. This number may also be referred to as a temporary NIE, but actually it’s not a temporary NIE, since it cannot be used as a personal identification. When you are dealing with Financial Aid, always refer to a temporary NIF.

3) The NIE (residency number) is the number you will eventually have once you are physically in Spain and is the number that will appear on your ID card issued by the Spanish authorities. Only the Student Office can and should help you with obtaining this number.

4) If Financial Aid obtains a temporary NIF for you ahead of your arrival, you must go to Hacienda/Agencia Tributaria (Spanish taxation authorities) once you have obtained your NIE and ask for a modification of your identification data by presenting the AEAT’s 030 form (get it here) duly filled in together with your original NIE and passport. By doing this you will guarantee that your final NIF in Hacienda’s records coincides with the NIE provided by the Police. This is especially important if you plan staying in Spain/the EU after you complete your program at IE.


If you’re planning on applying for a loan from Caja Madrid or Banca March, please note the following application deadlines:

Deadline for loan applications for programs starting in September and October 2011 = July 01, 2011.

Deadline for loan applications for programs starting in November 2011 = September 01, 2011

The loan application process takes longer than it would should you go directly to your local bank, however we do have favorable loan terms and keep in mind that student visa processing usually requires that you show proof of funding.  We provide these loan options as a supplement to personal resources and other funding alternatives external to IE, however they are not guaranteed so it’s better to apply early so you know whether or not you’ve been approved.

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