Nearly half of all MBA candidates take on debt to fund their studies. Loan options vary depending on the nationality and residence of the borrower, with most lenders preferring local students with established credit histories. To secure a loan, and certainly at a competitive rate, international students are therefore advised to research lenders sooner rather than later.  

An important consideration when researching is whether a co-signer is available, as many lenders, especially in the US, condition their loans on this. A co-signer is someone willing to step into your shoes and follow through with repayments should you default on your loan at any point in the future. This hefty responsibility means that co-signers often take on the identity of one for the borrower's immediate family or close friends. 

Some schools such as Harvard Business Schools and MIT Sloan will co-sign loans through their respective credit unions on behalf of their international students. Prospective students enrolled in other schools are nevertheless advised to inquire with their respective admission officers about potential assistance.

As most international students do not have a co-signer, they typically turn to smaller commercial lenders for their MBA loans, rather than to established banks. Applicants are also advised to keep an eye out for new entrants to the MBA lending market, such as Juno and Edbridg, which aim to provide disruptive offerings.

Common lenders for international MBA students are summarized below: