I am planning to begin my MBA studies that the University of St. Gallen (HSG) this fall. I have had a bugger of a time finding any loan program in the US that will give me any form of a student loan because the University is not on their approved list of schools. (Because they do not currently participate in US Dept. of Education Lending / Title IV federal funds.)

TERI.org used to offer loans to St. Gallen Students, but they went bancrupt and no banks loan through them any more.

My question is does anyone know of any bank or program in Switzerland or the US that does student loans for University of St. Gallen students who are US citizens?

Thanks,
ABF

ABF - have you talked to the HSG about your challenge? You can't be the first American student looking for a loan ...

Yes I have. They first told me about TERI.org, which is what 3 Americans used last year, however they no longer originate loans.

I talked to someone at Wells Fargo, who said that the University could become an "approved school" for their loans. So the University contacted them only to be told that they couldn't.

Next they suggested Salliemae, which told me that the School must be recognized by both Salliemae, which they are not yet, and the US Dept of Education, which they are also not yet. (recognized referring to Student aid programs, not accreditation or recognizing degrees.)

The trend seems to be, if a school is on the list for FAFSA/TitleIV/Dept of Education you can get a loan from anyone, if not, good luck.
(It would be great if they were, then I could get GRANTS instead of loans.)

I can talk to my boss (former HSG professor, American) or another current HSG prof I work with (Aussie) in the morning and find out.

Great! Thanks!

Hi abf

I work for a global leading business school in Lausanne in their MBA team and amounst other things, handle financial aid. Unfortunately I can confirm that it is almost impossible to get a student loan from a bank in Switzerland - we have negotiated with 2 of the leading banks and have come to a agreement but unfortunately only for us.

I would suggest that you contact SallieMae again and be sure to ask for a "Private Signature Loan" for these, the school does NOT need to be on the list for FAFSA/TitleIV/Dept of Education - we aren't and our participants are eligible - I did jump through hoops for Sallie Mae to convince them but someone at St Gallen should be willing to do the same.

Below are a few other links you can try.

www.gradloans.com

www.finaid.org

www.internationalstudents.com

www.topmba.com/scholarships

If I can help further, PM me and we can have a chat if you like.

Good luck
Nats

Hi There!

Some of the MBA programs here have an association with
an American MBA programs. There is one in Bern associated
with University of Rochester. There is one in Horgen, and
they are associated with....Maryland, I think.

Anyhoo, I would find out if St. Gallen has an association with
an MBA program in the US and try to get a loan on that basis.
When they ask, you are on an exchange program in Switz.

So for an update, The University is now in the process of applying for US Title IV lending.
Will find out in a few weeks a preliminary look on whether or not that will go through.

Hi abf, I will be joining you in September. Were you successful in obtaining additional funding for your studies?

hi there! I am also having some trouble finding funding for St. Gallen. no FAFSA, no Title IV accrediation so far, and I'm told that the school's loan program is only covering about 50% on average. I am going to attend whether I have to sell property or sell a kidney, but I'd prefer to get alternative means of financial assistance. I'd like to see what the conclusion of some of your findings are so we can all find funding and see each other in two months.

Thanks!

nate