Financial Planning: International Students

Available to international MBA students in the Two-Year, One-Year Johnson Cornell Tech, and Executive MBA Metro NY programs.  Students may borrow up to the cost of program tuition plus an additional $10,000 for miscellaneous fees.

No co-signer required. No credit required.

• If a U.S. credit history has been established, you must not have adverse credit. Your credit must be good.
• The interest rate is variable based on the prime rate plus a margin and may adjust quarterly.  Current rates are visible here.
• Zero origination fees and no pre-payment fees.
• Interest Rate Discount Offers
  .50% rate reduction with qualified U.S. co-signer at the time of application.
  .25% discount when paying via auto-recurring payments from a U.S. bank account during repayment.

Simple interest accrues while in school. 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.

The 2022-2023 program application goes live April 2022.  You may apply for the academic period that includes Summer 2022, and/or Fall 2022 and Spring 2023.
Do NOT apply prior to April 1.

Apply online at https://quorumfcu.studentchoice.org/cornelljohnson/ after the program application live date of April 2021 or June 2021, depending on your program – See the FAQ titled When Do I Apply?

• You will receive an instant loan decision based on your application.
• Quorum will notify you of the documentation needed to finalize your loan, via email, at the address provided on your loan application. Expect the email from Quorum/DocuSign a few weeks prior to arriving on campus.

Before your loan will be finalized, you will be required to attend an information session with Quorum Federal Credit Union when your program starts. 

Sessions will be held in May for 1YR programs and August for the 2Yr program. We will notify students, via email, of scheduled dates and times once finalized.

You will need to complete a private loan notification form after the session to instruct us how to disburse your loan (semester and amount) if you wish to take loan draws that total less than the maximum amount.

Your pre-approved loan posts to your bursar account, per semester, and acts as a pending credit towards tuition until the semester loan disbursement occurs. You will not be charged a late fee if your loan does not disburse by the tuition due date, as long as you have applied for the loan and received pre-approval from Quorum.

Loan proceeds are wired directly to Cornell and posted to your student bursar account. Any refund, after payment of current charges, will be sent by the Bursar’s Office.  See the Bursar page for information on refunds:  https://www.dfa.cornell.edu/bursar/students-parents/deposit-refunds.

You have the option to borrow private student loans, up to the cost of education, with a credit worthy U.S. or permanent resident co-signer.  A co-signer loan may carry a lower interest rate.  To learn more, visit the Financial Planning page within our new student website at https://www.johnson.cornell.edu/new-students/.

The Quorum loan may be used on the Declaration of Finances form. To do so, forward your pre-approval from Quorum to the Johnson Financial Aid Office, and a letter will be issued. 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.

For information on I-20 VISA requirements, click here.