Tuck Creates New International Loan Program

FOR IMMEDIATE RELEASE—September 9, 2009

CONTACT: Kim Keating, 603-646-2733

HANOVER, N.H.—The Tuck School of Business in collaboration with Dartmouth College is pleased to announce a new institutional loan designed exclusively for international students. Dartmouth is deeply committed to supporting its international students and Tuck students now have access to funding at competitive rates despite the existing pressures on loan availability.

Tuck's new loan was developed in 2009 to provide financial assistance to international students without requiring a U.S. cosigner. A student with demonstrated financial need may borrow up to the cost of attendance, less other financial aid based on a needs analysis by the financial aid office. The loan has zero origination fees and the rate to borrowers, currently 9 percent, is variable and adjusts annually. The repayment term is 10 years and begins three months after graduation, with standard or incremental repayment options available. Assistant Dean and Chief Operations Officer Steve Lubrano T'87 says, "The private options we researched were far too expensive for our students. This program significantly lowers the cost of borrowing from what was otherwise available."

Roughly 33 percent of the students who have attended Tuck in recent years are international students, representing approximately 40 countries per year. Dawna Clarke, director of admissions, is convinced that it's a great time for international students to attend an MBA program because of the global environment in which we live. She says, "At Tuck, we believe that students who possess a global point of view not only add depth to the educational experience but are also poised for the most challenging and diverse career opportunities."

Members of the senior administration at Tuck and Dartmouth worked to develop a program that is both simple and affordable, with the knowledge that access to funding has created much concern and anxiety for international students. The Tuck experience and education remain well worth the effort. The historic track record on repayment of other Tuck loans includes a less than 1 percent default rate.

"Despite volatility in the economy, Tuck students consistently go to the best companies and garner salaries among the highest in the industry. Tuck and Dartmouth are confident that students will continue to get great jobs and pay off their loans in a timely manner," says Tuck's Dean Paul Danos.

Rebecca Joffrey T'97, co-director of Tuck's career development office, adds, "Most people talk about return on investment (ROI) in terms of salary. But the ROI of Tuck goes far beyond that because our network carries you far into the future—and that pays dividends throughout your career. Whatever you need—financing for your business, job leads, professional connections, advice from a professor, research information from someone in another industry—all you have to do is pick up the phone. This network is extremely valuable for someone who has not previously worked in the United States."

Founded in 1900, Tuck is the first graduate school of management in the country and consistently ranks among the top business schools worldwide. Tuck remains distinctive among the world's great business schools by combining human scale with global reach, rigorous coursework with experiences requiring teamwork, and valued traditions with innovation.