Education loans are only one of the many possible sources of funds to cover the cost of your Tuck education. In today’s economic climate, students need to think carefully before taking on debt and seek to use alternative funding sources as much as possible.
A variety of educational loan programs are available, including U.S. federal loans, Tuck institutional and international loans, and private bank loans. Eligibility varies for each of these loan programs as do rates, terms of repayment, and loan maximums. International students can maximize their options by identifying a U.S. cosigner with positive credit history. The volume of institutional loans available varies year to year and is limited, so students are encouraged to apply as early as possible.
An overview of available loan programs is given below. The full details on each of the loan programs will be available upon your admission to Tuck.
Tuck adheres to the Code of Conduct policy as established by the Higher Education Opportunity Act.
Federal Direct Loan Programs
There are a number of institutional loans available in limited amounts from Tuck. All loans are need-based, and eligibility is determined based on a financial needs analysis performed using the information you provide. Many require positive credit history in the U.S. and may require a guarantor. Some are reserved for those with the most demonstrated need. Students who qualify for federal loans are strongly encouraged to borrow those funds prior to institutional loans.
Tuck offers funding options for international citizens attending Tuck. The programs do not require a U.S. co-borrower and offer very competitive terms. The maximum amount is determined by a needs analysis using the information provided by the student and may vary by individual. International students can borrow up to the cost of tuition and mandatory fees less other aid for the two years at Tuck. Our goal in providing the programs is to supplement the student’s others financial resources. International students should also investigate all sources of funding from within their home country including government and private scholarships and loans. International students may also be eligible for other types of loans if they have a U.S. cosigner with positive credit history.
Private Educational Loans
Private educational loans are available to U.S. citizens and permanent residents who have positive credit history, and to international students with a creditworthy U.S. cosigner. A student’s current aggregate indebtedness may also be considered when determining eligibility. If you decide to pursue a private loan, you must apply directly through the lender. Loan terms may vary widely between lenders and loan programs. Students have the right to borrow from any lender who participates in student lending. International students borrowing private educational loans in their country will have different terms and requirements.
All rates and terms are subject to change without notice.