Posts Tagged ‘USA#8217;


Nexos Magazine es la revista en español que todos los viajeros de vuelos American Airlines leen, y en la edición de Agosto-Septiembre 2012 el director del departamento de Financial Aid de IE, Joël McConnell, sale como experto sobre temas de como financiar sus estudios de MBA.  Otros expertos que salen en el artículo incluye José Antonio Cruzado de QS y Jaime Contreras de América Economía.

Para ver el artículo pasar a la página 46 de la revista Nexos, en su formato digital dando click aquí.


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.


Loan terms available through the US Federal Student Loan program are becoming less attractive, and origination fees for both Stafford and Federal Plus loans are on the rise.  BusinessWeek writer Alison Damast writes:

“Incoming first-year MBA students and second-year MBA students typically spend July trying to finalize how they’ll be paying for school in the fall. This summer they’ll be in for a rude shock as they calculate how the recent raft of changes to the federal loan programs will affect their student loan payments…”

To see the full article, click here.


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.


Isabelle Chiaradia, a native of the state of California and recent graduate of the International MBA program, talks about her experience as a Fulbright grant recipient at IE Business School.  See the video here:

Every year IE receives 3 Fulbright grant recipients, one each for the following programs:

1) International MBA (Full Scholarship + Living Expenses)
2) Master in Management (Full Scholarship + Living Expenses)
3) Master in Digital Journalism (Full Scholarship + Living Expenses)

You must be a US citizen to apply for these grants, and the selection process is competitive, so prepare well and apply according to the deadlines stipulated on the Fulbright web page.

To see an additional Fulbright testimony from grant recipient Cheryl Wilson, see here:


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.


Sallie Mae is pleased to be offering IE students and families the best in choice, after all that’s what the Smart Option Student Loan® is all about. Last year Salle Mae announced the addition of a Deferred Repayment Option and this year Sallie Mae will be offering fixed interest rates—in addition to variable interest rates—on all of Sallie Mae’s repayment options, providing even more choice and flexibility for IE students and families.

New for the 2012-2013 Academic Year

Beginning in May 2012, students attending IE will have the choice between existing low variable interest rates and a new competitive fixed interest rates:

•   Fixed Interest Rate, Interest Repayment Option: 5.75% to 11.875%
•   Fixed Interest Rate, Fixed Repayment Option: 6.25% to 12.375%
•   Fixed Interest Rate, Deferred Repayment Option²: 6.75% to 12.875%
•   Both variable and fixed interest rate loans will feature no origination fees and no prepayment penalty.
•   Sallie Mae’s underwriting criteria will not change based on interest rate type.
•   New fixed interest rates will be available to all undergraduate and graduate students.

Contact Sallie Mae for more information if you are a US national, have definitive admissions to an IE degree program, and are looking for a competitive loan option for your studies at IE.


US News: How to Fund Your MBA

Written on May 30, 2011 by Joël McConnell in Global News on Financial Aid

Check out this recent article from US News on how to fund your MBA program (see article here).

“While scholarships and other types of “free” money are available at fewer M.B.A. programs than non-professional forms of graduate education, there are many resources available for a scholarship or fellowship that fits your background and needs…”

This article talks about the realities on funding your program, and even provides a link to a web page that will be of great interest to our US candidates regarding external sources of funding (see reference page here).

Keep this in mind, if you’re an admitted degree candidate to IE Business School or any one of IE’s schools: if you need financial assistance, IE Financial Aid can help.  There will always be partial funding available for the student who brings a well-rounded profile that includes excellence in past academic and professional performance, and unique and insightful experiences to share in the classroom learning environment.

We invest in our future alumni, check out our web site to learn more about the 80+ scholarships, fellowships and 40+ loan options at



Las becas OEA/IE son ofrecidas por la Fundación IE en España y la OEA en Washington a aquellos candidatos que quieren estudiar un programa Máster en IE y cubren entre un 30% y un 40% de la matrícula. Las becas se otorgarán a los candidatos interesados en realizar uno de los 9 programas de máster ofrecidos por IE en el curso 2011-2012. Tras completar sus estudios los becarios también tendrán la posibilidad de realizar prácticas en la OEA. Más información en la web de Financial Aid (  La fecha límite para solicitar admisión al programa y para postular a la beca es el: 10 de junio de 2011.

Aplica ya, aquí va la solicitud (haz clic aquí).


The OAS/IE Scholarships for Master degree candidates offered by the IE Foundation in Spain and the OAS in Washington cover between 30% and 40% of program tuition fees, and interested candidates can choose from one of 9 different master programs offered by IE in the 2011-2012 academic year. Scholarship recipients also have possibility of doing an internship within the OAS upon completion of their Master program. The deadline to apply for Admission and to the OAS/IE scholarship is June 10th, 2011.

Apply now, here’s the application form (click here).


If you are a US student coming to IE with funding from Sallie Mae, keep in mind the following information:

1) From the disbursement date Sallie Mae lists on OpenNet to the time any remaining fees are physically in your account here in Madrid, there is a waiting period of 20 business days/4 weeks.  The funds must pass through multiple processes, and so keep this in mind when planning financially for your first weeks in Madrid. Studying outside the US is an exciting and formative experience, but the collaboration between multiple institutions and across borders takes time, often much more so than if all processing were completed within the US.

2) If you have applied for and been approved a loan from Sallie Mae, keep in mind that IE only accepts single disbursements and we only pass on excess funds to students once their pending student account has been covered in full.  This means that if you are planning on coming early, your disbursement date should be at least 20 business days/4 weeks before you plan on arriving to Madrid.  This is especially important with regards to signing lease agreements for an apartment, and having the funds necessary to cover daily living expenses.  IE does not provide cash advances.

3) If you’ll be studyig in Madrid full-time, IE Financial Aid can open a bank account for you in Madrid ahead of your arrival but you must request it.  Contact us to open a bank account at

4) If you are studying on a blended format program or the IE Brown Executive MBA, your funds will be handled separately as you will not be able to obtain a local residency number and so we can’t open a local bank account for you ahead of arrival.  If you are funding your program with a Sallie Mae loan, and you are studying in a blended format program or the IE Brown Executive MBA, please contact IE Financial Aid for more information at

5) Because Sallie Mae loans must be returned to Sallie Mae by the institution if the student does not join the program, and because place reservation payments to IE to secure your place in a specific program and intake are non-refundable, you cannot pay your place reservation with a Sallie Mae loan.  Place reservation payments must be paid with funds other than your Sallie Mae loan.

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