Loan Program Will Help International Students Attend University of Chicago
The University of Chicago has signed an agreement with JPMorgan Chase to provide international students with access to private educational loans requiring no co-signer.
The new agreement will make educational loans available to international students who are not eligible for federal assistance and cannot qualify for standard private loans because they do not have a U.S. co-signer. International students are an important part of the University community and providing them access to a Chicago education is a priority.
"Almost 20 percent of our students are from abroad, and they add a great deal of intellectual vibrancy and cultural richness throughout the University and our community," said Kimberly Goff-Crews, Vice-President for Campus Life and Dean of Students. "We have focused our attention on finding loan programs that will meet the needs of this important segment of our student body."
Despite the difficult economic climate, the University has stood by its commitment to help qualified students afford a Chicago education. With some traditional avenues closed, the University has gone to great lengths to find creative alternatives, according to University Bursar Michael Kocelko.
Under the agreement, JPMorgan Chase will provide financing to qualified international students for amounts up to the total cost of attendance, less any financial aid received. The financial aid offices will determine the specific amount available to students. The terms of the loan program will be set later this spring, when students will receive more information on the program.
The University continues to seek a stable and diversified range of student loan options for its entire student body.
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