Archive for the ‘Global News on Financial Aid’ Category

29
Jan

Just a quick update to all applicants for the April 2010 intakes: if you plan to apply for a Banca March or Caja Madrid loan, we need to have your loan application, as complete as possible, submitted to financialaid@ie.edu before the end of the weekend (midnight, 31 January).  If 1 or 2 documents are missing because the applicant is waiting for banks or other financial intermediaries to provide supporting documentation, Financial Aid will work with the student in the first week of February to close the application.  However the deadline of 31 January is firm, for both our Banca March and Caja Madrid loan programs, specifically for April 2010 intake degree candidates.

This deadline is necessary for loan processing and student visa processing reasons, so please ensure you use the weekend to get your application submitted if you plan to apply for financial assistance via loans from IE Financial Aid.

14
Jan

Una nota breve para avisar a los alumnos que han solicitado préstamos del Instituto de Crédito Oficial (ICO): ya están saliendo las aprobaciones del Instituto de Crédito Oficial (ICO) y tenemos el proceso controlado gracias al apoyo del Banco Santander.

Proceso de tramitación/formalización del préstamo:

 1)      El alumno deja su “ticket” UNICAMENTE con el Financial Aid Officer (Joël McConnell).

2)      El Financial Aid Officer tramita los tickets a nuestra persona de contacto del Banco Santander.

3)      Banco Santander trabaja con el alumno directamente para hacer llegar los fundos del ICO a la cuenta del alumno en el Banco Santander.

4)      En caso de tener una deuda pendiente con IE, el alumno debe hacer llegar los fondos a IE. En caso de no tener ninguna deuda pendiente con IE, el alumno se queda con los fundos directamente.

Para cualquier aclaración, contactar con nosotros al financialaid@ie.edu.

12
Jan

If you are an IE student from one of the following countries/territories, please read this message in detail as its content is important from the perspective of sending funds to Spain before your arrival and once you are settled in Madrid.   Countries/territories:

Afganistan, Iraq, Iran, Belarus, Myanmar, Ivory Coast, Congo, Liberia, North Korea, Sudan, Syria, Lebanon, Zimbabwe, Uzbekistan and Northern Territories of Cyprus.

Funds Will Not Be Accepted: Spanish Confederation of Credit Unions, Spanish Treasury and FATF

Given the recent sanctions imposed by the EU on the selected countries listed above, and given advisories issued by the Spanish Treasury and the Financial Action Task Force (FATF), the Spanish Confederation of Credit Unions (CECA) has decided to suspend indeffinitely all new funds transfers coming from these cited countries/territories.  The primary concern and driving force behind the move has been to limit money laundering activities via Spanish credit unions.  While the ruling is intended to support EU-wide policy, the change in policy does effect IE students coming to study in Madrid in 2010, and those IE students currently studying at IE.

Practical Implications for IE Students

If you are from one of the 15 listed countries/territories, this ruling will mean that you cannot send funds to your Caja Madrid account directly from any financial institution located in the cited countries/territories.  This means that if you need to send funds to yourself for living expenses, then you will need to find an alternate solution.  Since IE is not a credit union, we can receive funds directly to cover your tuition fees, but Caja Madrid will reject any transfers when the local institution tries to send funds to Madrid.

Short Term Solution: Third Country Transfers

For an immediate solution, the recommended course of action is to send funds to your Caja Madrid account via an account located in a third country or from another account already established in Spain at a non-credit union financial institution.  If this is not an option for you, then you are encouraged to contact the Financial Aid Officer directly to discuss alternate solutions at financialaid@ie.edu.

7
Jan

ALPS Loans for International Students

Written on January 7, 2010 by Joël McConnell in Global News on Financial Aid

Just a quick update that we are aware of the Affiliated Loan Program for Students (ALPS) loan program that 6 schools have now signed on to in the US, but as of now, the program is only open to schools in the United States (for international students who wish to study in the US).  The ALPS program’s financial partner is Deutsche Bank, and it’s an initiative coordinated through the Graduate Management Admissions Council (GMAC) partner schools.

To learn more about the ALPS program, see: http://www.businessweek.com/bschools/content/jan2010/bs2010014_067543.htm.

3
Dec

Los gastos de formación en los que incurre una empresa para sus empleados se consideran gasto  deducible a efectos del Impuesto sobre Sociedades.

Además de ser considerado como gasto deducible y con el fin de potenciar la capacitación de los trabajadores con miras a conseguir una política de pleno empleo  se  aprueban deducciones en la cuota del Impuesto sobre Sociedades.

Así el Real Decreto Legislativo 4/2004, de 5 de marzo, por el que se aprueba el texto refundido de la Ley del Impuesto sobre Sociedades, establece determinadas deducciones en la cuota íntegra del Impuesto sobre Sociedades para incentivar determinadas actividades, entre otras, se regula la deducción por gastos de formación profesional en su artículo 40 y Disposición Adicional Décima.

Como regla general, el porcentaje de deducción en la cuota íntegra es de un 2% o un 1%, para el periodo impositivo iniciado a partir del ejercicio 2009 o 2010 respectivamente, de los gastos de formación profesional efectuados en cada período impositivo. En el caso de que los gastos efectuados en la realización de actividades de formación profesional en cada período impositivo sean mayores que la media de los efectuados en los dos años anteriores, se aplicará el porcentaje indicado en cada periodo impositivo y el  4% o el 2% sobre el exceso respecto de ésta para el ejercicio 2009 y 2010 respectivamente. 

Con efectos para los períodos impositivos que se inicien a partir de 1 de enero de 2011, esta deducción está derogada por el punto 2 de la Disposición Derogatoria Segunda de la Ley 35/2006, de 28 de noviembre, del Impuesto sobre la Renta de las Personas Físicas y de modificación parcial de las leyes de los Impuestos sobre Sociedades, sobre la Renta de no Residentes y sobre el Patrimonio.

23
Nov

En el BOE de ayer 19 de noviembre, ha salido publicada la Orden Ministerial de Educación por la que se regulan  los Préstamos Renta-Universidad para cursar estudios de Master universitarios Oficiales en España ( tanto de universidades Públicas como  Privadas  ) en el curso 2009-2010 .

Los beneficiarios de estos préstamos, en ventajosísimas condiciones, pueden ser ciudadanos españoles, ciudadanos de la UE que hayan residido en España los 4 último años anteriores a su solicitud de la ayuda… y también son beneficiarios los alumnos de países extracomunitarios (  de fuera de la UE ) con residencia legal en España adquirida en los 4 últimos años.

Más información:

20
Nov

While this scholarship program does not apply to studies at IE (http://www.edc.ca/english/student_scholarships.htm?cid=red1372) it does provide an interesting idea with regards to how to focus your scholarship search: why not see what your local government has in its budget to support students who want to become the future leaders of international trade?

Many countries have organizations like Canada’s EDC, and many likely have scholarship funds available.

Good luck with your search!

15
Oct

We were just alerted to a potential loan option for candidates coming to IE that have fiscal residency in Spain, and that are living and working within Spanish borders.  According to their web page:

Credinova NX is the loan created for you, if you are between 16 and 26 years of age, in order to finance the expenses directly related to your education (fees, studies or further studies, postgraduate degree). With this formula you will be able to pay for your master’s, your seminars, specialisation courses and pay it back in easy instalments.  In addition, there is free period of up to 2 years, after which you will start to pay back your loan.

Go to your local Caixanova branch and request all the information you need.

8
Oct

Para solicitar un AVAL BANCARIO, necesita lo siguiente:

In order to apply for a “BANK GUARANTEE” you will need the following:

  • Su número de NIE.
  • Your NIE number. 
  • Nombre, apellidos y DNI del propietario.
  • The name, surname and ID of your Landlord.
  • Dirección del apartamento que va a alquilar.
  • The address of the flat you will be renting.
  • Borrador del “AVAL BANCARIO”, si el propietario solicita un modelo específico.
  • A draft of a “BANK GUARANTEE “, if your Landlord requires a specific one.
  • Se le retendrá 75% de la cantidad del AVAL en una cuota depósito.
  • We will hold 75% of the amount of the BANK GUARANTEE in a deposit account.

 Comisiones:

Charges:

  • Comisión de apertura: 0,50%, mínimo 60€
  • Opening fee: 0.50% minimum €60.
  • Comisión de estudio: 0,50%, mínimo 60€
  • Studying fee: 0.5% minimum €60.
  • Avales de menos de un año: 1%, mínimo 45€ (trimestralmente)
  • Less than one year BANK GUARANTEE: 1% of the amount of the BANK GUARANTEE (every quarter), minimum €45.
  • Avales de mas de un año: 1,50%, mínimo 45€ (trimestralmente)
  • More than a year BANK GUARANTEE: 1.50% of the amount of the BANK GUARANTEE (every quarter), minimum €45.

 Datos válidos desde el 31/08/2009. Sujetos a posibles cambios.

This information is valid from 31/08/2009 and is subject to changes.

21
Sep

This month IE is launching a new loan agreement with Spanish bank Banca March (www.bancamarch.es – web available in English, Spanish and German), and below you’ll see the key details of what’s available.  This is a new option for students coming to study at IE full time, or for Spanish fiscal residents completing part-time or executive-level master programs on campus in Madrid.

Basic Terms

  1. Up to 10 years to pay back the loan.
  2. Market leading rate: Euribor+2%
  3. Grace period of up to 24 months for full-time students
  4. Insurance in case of serious or fatal injury
  5. Access to full banking services with Banca March while in Spain and for the life of the loan
  6. Full processing support from IE Financial Aid

Shortly interested candidates will be able to apply for these loans by consulting www.ie.edu/bancamarch (estimated launch date for this web page is 30 September, 2009), and then working directly with IE Financial Aid to process all the required documentation.

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