Friday, November 7, 2008

MIT Sloan offers a replacement loan program for CitiAssist

For all the prospective international MBAs who were reading this blog and flipping out over the cancellation of the CitiAssist loan programs, I'm happy to report that MIT Sloan has worked out a solution. I don't have any specifics yet on rates or who will be administering the loans. Here's the letter from Dean David Schmittlein:

Dear Students,

Last month I wrote notifying you that the CitiAssist custom student loan program with MIT Sloan, like those with other schools, was being cancelled.

I am now pleased to announce that arrangements are in place for a loan program for international students who will be enrolled in MIT Sloan’s professional masters programs next year. This new international loan program will complement Federal loan programs available to domestic students. As in previous years, loans will be available to students, up to the cost of attendance in MIT Sloan’s professional masters programs.

We are extremely grateful to our MIT colleagues who have partnered with us to address this important need within our community. MIT Sloan is committed to both the economic and geographic diversity of our student population. The funding opportunities provided by this loan program will continue to allow us to meet that commitment next year. Loan program details will be forthcoming.

Sincerely,

Dave Schmittlein

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