Loan terms for Columbia Business School

Eligibility: Foreign Full Time MBA, Executive MBA and Masters of Science students are eligible to apply. Citizens of and permanent residents in the country of study are ineligible. Residents with non-permanent status may be eligible depending on the specifics of the situation.


  • Loans to current and future students
  • Top up loans for current students
  • Bridge loans for current students before starting new jobs
  • Refinancing current loans or corporate sponsorship

Maximum loan size: Capped at total cost of attendance per year.

Interest rate: 6-9%, depending on individual profiles, with a representative APR of 7.40%. Rates are variable from 5.25-8.0% over a base rate of 3-month US Libor. See representative example below.

Guarantees: No guarantors, co-signers, or collateral required.

Additional once-off fees: Administrative fee: 2.5% of the loan amount.

Disbursement: Funds are disbursed directly to the school shortly after the start of class.

Grace period (applicable to full-time MBA and Masters of Science students only): Study period plus 6 months following graduation. During this time, student borrowers do not have to pay anything, but interest accrues.

Repayment: After the grace period, there is a 10-year payback period. There are no penalties for early repayment.

Application deadline: Applications will close 2 weeks before the start of your class.


  • Variable interest rates ranging from 3 month US LIBOR + 5.25% to US Libor + 8.0%. 3 month US LIBOR is 0.25% (as of January 27, 2015 )

  • Administrative fee of 2.5% of total loan amount.

All preliminary lending decisions are subject to:

  1. A full credit and background check,

  2. Your acceptance into the programme at Columbia Business School specified in your loan application, and

Do you have any questions about these terms? Read our Knowledge Base or contact

Representative example

The interest rate will vary based on your individual application with a likely range between 5.25% and 8% above the 3 Month USD LIBOR rate of 0.25% (as of 27 January, 2015). The below provides a representative example.

Loan size: $40,000

Interest rate: 6.5% above US Libor (Libor is variable over the duration of the loan).

Representative APR: 7.4% APR variable, factoring in all fees and the effects of compounding interest.

Fees: Application fee of 2.5% x $40,000 = $1,000. ($500 (50%) paid up front, balance added to the loan). Therefore total credit = $40,500

Duration: Up to 147 months, including a grace period of 27 months (study period plus 6 months).

Total amount payable: $64,553.74

Amount of each monthly repayment: $525.45