Since Banks had to tighten their credit policy as a consequence of the financial crisis that hit the world credit markets on 2008, students have found themselves facing surmounting difficulties to get financial support for their studies.
As an example, if you are an international student pursuing an MBA on an American University, unless you get accepted to an Ivy League school like Harvard or Wharton, it will be almost impossible for you to secure a student loan if you don't have an US based cosigner.
Many international students are finding that their B-school dreams are over even before they start. Some of the leading business schools and graduate programs received a serious blow after big lenders like Sallie Mae or CitiAssist were forced to cancel their "no-cosigner student loans". These programs usually allowed the applicants to get funding up to their tuition fee without having to get a stewardship in case the borrower defaulted. The community most affected by this measure is the international students community, for whom this programs were crucial for their degree aspirations.
In a time where international companies are looking more than ever for well recognized international degrees, the impossibility for some students to finance thier degrees is proving to be a fundamental issue, that need to be addressed by the public and private sector, specially if they want the emerging world to continue progressing.
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