Jackpot! Well, almost
I was this close. Literally this close. To taking home 50,000 euros. I went to the ABN AMRO bank this morning and had a chat. Turns out that I'm eligible for their Master's loan scheme and the guy did a calculation then and there, filled out some details in the computer system (including my school name) and the computer nearly went bezerk. LBS means $$$$$ (or in my case euros, not dollars)! Who would've thought after my earlier negative experiences with Dutch banks! The ABN AMRO guy was suitably impressed with the schoolname, he'd done a few of these calculations before but had never seen the computer give back the maximum amount. I didn't take the loan then and there, I want to wait and see what HSBC comes back with. But it's a good back up option. And finally there's a loan I am eligible for, since I don't have the coveted US co-signor necessary for a lot of loans.
I don't know if there's any Dutch people reading this blog, but just in case, I've put down the details below:
* Dutch passport
* bachelor's or doctorandus degree
* evidence of any loans at IBG (dutch government loans) from your undergrad years
* you have to be accepted at school
* you have to be able to show how much tuition will be (easy peasy)
* you have to have an ABN AMRO bank account (which they will arrange for you if you take the loan).
Minimum loan: 5000 euros, maximum 50000 euros, repayment over 10 years which start 24 months after you start. Interest is 8,7% per year. You have to be between 18 and 33 when you start your degree.

9 Comments:
*thinking of changing a citizenship* ;)
Score!!!!
you can relax now :).
Hey, when are the classes starting??? :-)
should be a big relief....
Thanks guys! It is good news, although I do hope that HSBC comes through... 50000 euros is not nearly enough!
Simba: classes start August 29th, 1 pm. And I can't wait :-)
Congrats and good luck with HSBC.
al
Suzy,
50,000 EUR is plenty of money for your first year. Even if HSBC does not come through (I'm sure they will though), you still have one year to find another bank to finance the rest of your studies. I know several people who have loans from more than one institution and it’s totally manageable. However, it does make it easier if it’s all consolidated in one loan. Good luck and keep us posted!
WOW. I'm back in Canada next week, wonder if any Canadian banks do the same thing for the EMBA programme at LBS. Definitely something to check into. Guess the main thing is that even if HSBC doesn't come through there are other options.
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