I just received an email from the Harvard Crimson that Harvard has reached an agreement with JPMorgan Chase which will make it easier for international graduate students to get loans. International students do not qualify for U.S. government loans and have had difficulty in the past securing loans to pay for their education. This new loan agreement will provide eligible international students with loans up to the cost of their attendance at Harvard’s graduate schools.
While this is potentially good news for international graduate students there is a lack of any detailed information regarding the terms of these student loans. What does a student need to do to be eligible? What are the terms of the loans? Will Harvard be subsidizing the loans in some ways to offset potential problems with loan defaults?
While this agreement appears to be a step in the right direction I will have to reserve judgment until further information regarding the terms of the loans is made available.
Thanks to the Harvard Crimson for bringing this to my attention.