It's amazing that I've taken almost an entire month off from blogging. I've been super busy with arranging for loans to pay for next year's tuition and living expenses. I am very glad that I have many choices to choose from but too many choices can be make the decision very hard to make.
As an admitted INSEAD student, you get access to Prodigy Finance (http://www.prodigyfinance.com/web/). You can borrow up to the total tuition cost (EUR52,000), but the average loan is about EUR30,000. The downside with Prodigy is that the rate is floating and it is higher than other loans that I was offered. Another route that an INSEAD student can pursue is the EUR50,000 loan from BNP Paribus. But you will need to have a bank guarantee from an international bank in your country. Now to get that bank guarantee, you will probably need most of the funds in cash to be held at your local bank in order to secure that guarantee. But if you've already got the cash in your account, why borrow it from a bank? So that option was out as well. In the end, I settled on using money from savings and supplementing it with some government loans. My goal is to borrow as little as I need to so that I am under less financial burden when I graduate.
A note to prospective students, please start thinking about your financing once you submit your applications to the school. I actually did not carefully think the financing through until much later. But thankfully my sister gave me some very good financing pointers. (THANK YOU, sis!)
Hi girl with a plan!
ReplyDeleteI'm going to be a fellow 11D'. I'm also starting an INSEAD blog, but as I haven't yet said anything in my job, I'm keeping it hidden.
The urlwill be juanesinsead.blogspot.com
Let's be in touch!
Cheers!
j
Hi. Congratulations on your admit to INSEAD. :0) Where will you be starting at? Let me know when you blog is open to public. I am so glad to find another blogger from our class.
ReplyDeleteCongrats 4 u too!!! :)
ReplyDeleteI'm starting in Singy! You can find me in MBA connect as I'm the only Argentinean within the 11D's!
However, I'm reading you from Spain.
Hey, I think I found you. :0) What are your thoughts about campus exchange? How is your pre-MBA reading coming along? How much of it should we get done anyway? Do you think we are expected of reading all four texts? Have you found any other bloggers from our class?
ReplyDeleteHey, now you should give me some signs about you so I can find you!
ReplyDeleteAbout campus exchange, my objective is to work in Europe after INSEAD. So, I plan to end in Fonty. For cost reasons, I don't plan to go back and forth, so as a SGP starter I'm going to spend P1 and P2 in Singy (maybe P3), and then move to Fonty and stay there. Being in Spain my plan is to get a return ticket to Singy, which I may change with a 120€ penalty if I change my mind and stay one more period in SGP.
I haven't started pre-reading at all. Indeed, I don't know if I am going to do it. I prefer to spend my scarce time studying french and waiving the 3rd language requirement, and also I come from a business/finance related background, so the topics of the pre-reads sound very familiar to me.
I haven't found any other 11D's bloggers, they might still be hiding as I am :)
You're right. I do have an advantage here. I will reach out to you via mba connect. :0)
ReplyDelete