Private MBA Loans Overview
When scholarships and federal student loans are not enough, the GradLoans Private MBA Loan can help bridge the gap in the cost of your education. Specifically designed for business students with unmet financial need, our business school graduate loan will help you achieve your educational and professional goals.
student computers, books and room and board. Additional Benefits include:
- Defer payments while in school and for a six-month grace period after graduation
- Lower your interest rate by 0.25% when you choose to have your payments automatically deducted from your personal bank account
- Rates as low as Prime plus or minus a margin for credit
- Annual Maximum is 100% of your Cost of Attendance minus other aid, based on school certification
How do I qualify?
- Must be enrolled at least half-time in an eligible 4 or 5 year undergraduate degree program
- You must be a U.S. citizen or permanent resident
- You may be required to add a cosigner to your application
Traditional MBA Programs
You have three options including deferment or repayment of interest only or interest and principle.
Full Deferral: No principal or interest payments due while enrolled in school (up to four consecutive years). Payment of principal and interest will begin 6 months either after graduation or if no longer enrolled at least half time. Interest will continue to accrue during the deferment period and will be capitalized (added to the loan balance) at the time of repayment.
Interest Only: Pay only accrued interest while enrolled in school (up to four consecutive years). Payment of principal and interest will begin either 45 days after graduation or withdrawal from school.
Immediate Repayment: Payment of principal and interest will begin 45 days after loan is disbursed.