October 16, 2018

Johnson/Quorum Federal Credit Union

International Educational Line-of-Credit (LOC) Program

MBA Class of 2018 and One-Year MBA Class of 2017

  • Available to international MBA students and allows a studentto borrow up to the cost of tuitionplus $10,000 for additional expenses. LOC limit – tuition rounded to the nearest 10th of a dollar:

One-Year Program $97,460 tuition + $10,000 additional expenses = $107,460

2 Year Program:

  • LOC– Year 1 – $61,590 tuition + $5,000 additional expenses = $66,590
  • LOC – Total $135,680 (includes estimated tuition increase for year 2 + $10,000 additional expenses)
  • No cosigner is required as long as the international student either has no credit or, at least, good credit in the United States.
  • The interest rate is variable. Prime rate plus a 3.74% margin and will adjust quarterly(current rate is 6.99%).
  • Offers .50% rate reduction with US co-signer.
  • Offers .25% auto payment discount rate reduction.
  • Rate Floor 6.24%.
  • Ceiling Rate 18%.
  • Zero origination or pre-payment fees.
  • Interest will accrue while in school and repayment begins 6 months after graduation or if the borrower falls below at least half-time enrollment. Repayment can be extended up to 25 years depending on the total amount borrowed.
  • Beginning June 1 (April 1 for One-Year) you can completeyour application online at to receive your conditional approval.
  • Conditionally approved loans will be used as a pending credit towards tuition.
  • You will be requiredto attend a meeting with Quorum Federal Credit Union to provide proof of identity (Passport, I20 and VISA), become a credit union member and sign your loan note before funds can be disbursed. Meetings will be held here at Johnson (May and August). We will notify students of scheduled times Quorum will be on campus.
  • Once documents are completed, loan funds will be wired directly to Cornell University and the Johnson Financial Aid Office will post to your bursar account.

You still have the option to borrow up to the cost of education with a credit worthy US or permanent resident co-signer. A co-signer loan may carry a lower interest rate. Visit our website for more information at

Please note Johnson does not allow US student loans to be used on a declaration of finances form. You may use multiple private sponsors (domestic or international) on the Declaration of Finance form. Federal immigration regulations require that all international students provide evidence of adequate funds to meet the financial obligations of enrollment at a U.S. university. US student loans may be used to finance your education once this requirement has been met and your F-1 visa has been issued.

10/16/2018