The Wharton School has announced that it has reached an agreement with the Digital Federal Credit Union to offer loans to international students that would cover tuition and living expenses, without students requiring a cosigner.
Since the cancellation of the CitiAssist program, which previously backed students at many of the top U.S. business programs, schools have been scrambling to find other sources of loans to ensure that international students would consider the States a legitimate destination for their MBA education. Recently, GMAC facilitated a pool of $500 million in loans for internationals. Now, Wharton has pursued its own path to ensure they can attract, and indeed retain (the program will be open to current students), talent.