Stanford Business School Secures New Source of Loans for International Graduate Students
Star One Credit Union To Underwrite Financial Aid without U.S, Co-signer

STANFORD, CA, June 11, 2009 /24-7PressRelease/ -- Stanford Graduate School of Business today announced the launch of a new private loan program through Star One Credit Union to provide financial assistance to students admitted to the School's MBA, PhD, and Sloan Master's programs. An especially welcome relief to international students, the custom loans, which cover tuition and living expenses, will be available to those without a U.S. co-signer.

"The crisis in the global financial sector had threatened our ability to provide equal access to needed assistance among all our students, who hold passports from more than 50 countries," said Jack Edwards, director of Financial Aid at Stanford Business School. "By securing this loan program with Star One Credit Union, we are pleased to continue our commitment, unbroken since 1999, to offer loans to international students under similarly favorable terms and competitive rates as those available to domestic students."

With a student population that is more than one-third international, the Stanford Graduate School of Business recognizes the importance of global relevance in both research and classroom engagement. The Global Management Program, developed in 1994 to foster students' global mindset as they grapple with increasing complexities of managing in a global economy, is the student-facing arm of the School's Center for Global Business and the Economy, dedicated to rigorous research and course development on global issues.

Students, both domestic and international, are eligible for the School's Nonprofit/Public Service Loan Forgiveness Program, introduced in 1988 to support MBA graduates entering nonprofit and public service organizations where salaries are typically lower. In order to encourage MBA graduates to make meaningful social impact and contribute to social issues, economic growth, and political stability, the loan forgiveness program reduces the financial impact of their educational debt. For more information, visit: http://www.gsb.stanford.edu/finaid/forgiveness/nonprofit_publicservice.html.

Star One developed the custom loan program for Stanford Business School's international graduate students in conjunction with Credit Union Student Choice, a credit-union-owned organization serving certified academic institutions, offering customized student lending solutions to client credit unions across the country. Key attractions of this loan program include a convenient and unique line-of-credit structure, competitive interest rates, and no origination fees.

"As a not-for-profit credit union, we have a unique business model that makes us perfectly suited to meet the private loan needs of international students at Stanford's Graduate School of Business," said Rick Heldebrant, Star One Credit Union President and CEO. "We are a local cooperative with a keen focus on the communities we serve. Accordingly, we are extremely excited about the value we can deliver to the Stanford community."

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