International MBA applicants to the Chicago Booth business school will be relieved to know that the school has become one of the first signatories to a student loan programme that will give them the financial means to study in the US.

The International Student Loan Program, originally conceived by the Graduate Management Admission Council (GMAC), will involve a consortium of organisations experienced in the student loan arena.  This consortium, led by Deutsche Bank, which expects to provide initial funding, includes Access Group, Liberty Bank and Moehn and Associates, which will be the programme manager.  The ISLP was developed with the involvement of business schools including Chicago Booth.