To qualify for this loan, you must a citizen of the US or a permanent resident. One good thing about this loan is that it is open to foreign students. With a creditworthy citizen or permanent resident, foreign students can apply for this loan.

Another criterion that you should fulfill is that you must be free from student loans that are delinquent or in default. Then there is the credit criterion that you need to meet. Students who have enrolled for programs such as business administration, Executive MBA, taxation, economics, accounting, marketing, and finance can apply for the MBA private loan. Part-time students are also eligible to apply for this loan.

The approval rate is quite high. This type of loan is a low interest student loan that rewards the borrowers with good credit. Even if you don’t have the ideal credit record, you need not worry as you have the option to apply with a credit-worthy cosigner. The co-signer may be one of your parents, relative or a friend. He or she may be released after you have made the first 24 consecutive payments of principal and interest on time.

For borrowers without a cosigner the aggregate loan limit is $175,000 from most lenders. However, if you borrow with a cosigner, there is no limit. Prepayment penalty is not applicable. Interest rates are as low as Prime - 0.50 percent and are reset on a monthly basis.

If you want to get more details on various types of student loans, you navigate to the student loans directory on the site map. You can also apply for student loans through this portal.