Spring Semester 2021 FAQs:
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In an effort to make a Simon degree more accessible to top global talent, the School has made a Custom Graduate Loan available through Discover® for full-time MBA students, which does not require a cosigner. These loans are made by Discover Bank®, not by Simon Business School or the University of Rochester.
The Discover® Custom Graduate Loan has a competitive interest rate and will cover up to the full MBA program tuition cost minus other financial aid. Discover® has a simple online application process and will provide full customer support during the loan application process.
Graduate students in Simon Business School's Full-Time MBA program are eligible for loan consideration. To be eligible for the Discover® Custom Graduate Loan, you must be residing in the United States during your program studies. Aggregate loan limits apply.
Applicants are asked one question in the financial aid section of the Simon Business School online application where they can "opt in."
Students can borrow from $1,000 up to the MBA program tuition cost, less any other financial aid received, as determined by the Simon Admissions Office.
Yes, you can use the provisional approval letter as proof of funds toward your financial support.
Do not worry. The provisional approval is all you need for proof of financial support for your I-20, and you will not be required to upload a copy of your I-20 to your loan application until after you receive it from the University of Rochester. Once received, you can then upload it to fulfill the document requirement.
Discover® Custom Graduate Loan is available to cover tuition (less any other financial aid), but it is not available to cover student fees or living expenses. We encourage students to identify other sources of funding to cover personal expenses.
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