Computer Professionals Program
Master of Science in Computer Science

Maharishi University of Management, USA

Financial Aid through an Alternative Loan

McLaughlin Building in spring.
Springtime at the McLaughlin Building — home of the School of Computer Science and Mathematics.

Alternative loans can provide up to 100% financial aid (covering tuition, fees, campus housing, and meals). Loan payments are not required until after you graduate, and then you make low monthly payments. 

Alternative Loans require a loan cosigner who is a US permanent resident or citizen. If you do not have a co-signer, you are still eligible for the Computer Professionals Program Loan.

There are two ways to use an Alternative Loan:

Option 1: Use an Alternative Loan to cover the amount due at the time of registration, and use the Computer Professionals Loan (taken after you are placed in a U.S. practical training job) to cover the balance of your program costs. See description of Computer Professionals Loan for details. There is no tuition reduction under this option.

Option 2: Use an Alternative Loan to cover your full program costs at the time of enrolling. Under this option you will receive a tuition reduction of US $1,000 if all program expenses are paid initially.

Tuition, room and board and fees: (Starting 1-2018)


Tuition reduction for full payment at time of enrollment:


Alternative Loan amount (Direct Track):


Note: Tuition, other charges, and financial policies are subject to change prior to the entry date.

Features of an Alternative Loan

  • Low monthly payments
  • No loan payments until 6 months after you graduate
  • Interest rates are variable and depend on credit history
  • You have up to 20 years to repay (you can chose a shorter repayment term)

When applying for your student visa, you are not permitted to use the Alternative Loan (even if it is approved in advance) as evidence that you or your sponsor can pay the initial amount due upon your arrival at the University. You must provide other evidence that either you or a sponsor are able to pay the initial amount without the Alternative Loan. This is because the funds from the loan are not dispersed to the university more than one week before the date of enrollment. The U.S. immigration office does not recognize the loan as payment of your expenses until the funds are actually secured after registration.

Therefore you or your sponsor must (a) sign an affidavit of support, and (b) provide a bank statement showing that you are able to pay the initial amount (determined by the Admissions Office) due upon your arrival at the University without the Alternative Loan. This amount must include the $2200 personal expense money. You must be able to pay the tuition payment at registration, and then once the loan has been approved and been received at MUM, you will be refunded the amount paid.

NOTE: You will not need to actually pay the extra funds to the University at registration if the Alternative Loan has been disbursed to the University before you arrive.

  1. All international students must have a loan co-signer under the Alternative Loan programs. No exceptions are permitted by the lenders.

  2. The co-signer must be a US permanent resident or citizen who will accept responsibility for the loan in event of default. The co-signer can be a relative or any other person who has an acceptable credit record in the US.

  3. You can apply for the Alternative Loan after you have received acceptance to the Computer Professionals Program.

  4. Lenders can normally finalize loans within a few days of receiving the loan application and co-signer information.

  5. See Frequently Asked Questions below.


Below is a list of private lenders in alphabetical order which have provided loans in the past to International Students. The list does not infer preference for a particular lender. The University does not endorse any lender. You may choose any private loan lender you prefer whether or not they are on the list below:

Citizen Bank(US citizen or permanent resident cosigner required)
Discover(US citizen or permanent resident cosigner required)
Midwest One (MUM cosigns loans with the student)
Navient (Sallie Mae) (US citizen or permanent resident cosigner required)
Pentagon FCU(US citizen or permanent resident cosigner required)
Wells Fargo(US citizen or permanent resident cosigner required)

Students are responsible for all travel costs between their country and the campus in Fairfield, Iowa, and any travel within the U.S. for the duration of the program.

Frequently Asked Questions:

If I cannot arrange a co-signer who is a US permanent resident or US citizen, can I still get financial aid to join the Computer Professionals Program?

Yes! All students who are accepted to the program receive up to 91% financial aid on the CP Loan Program.

How can I get an Alternative Loan without a co-signer?

There are no exceptions to the policy that requires a co-signer for all Alternative Loans to international students.

Can the co-signer be a person in my home country, or someone in the US who is not a permanent resident or citizen?

No. The co-signer must be a U.S. permanent resident or citizen.

When do I need to begin making monthly payments on the loan?

You can begin making loan payments 6 months after you complete your education. Interest will accrue from the time the loan is issued.

Can I have a repayment term of less than 15 years?

Yes, you can a specify a shorter term at the time of taking out the loan, or change it to a shorter term later.

When can I apply for the Alternative Loan?

You can apply after you have been accepted to the Computer Professionals Program.

Can I take out an Alternative Loan from any bank?

You may use any educational loan available from banks in the United States who accept a U.S. citizen as a cosigner for International students enrolled at colleges in the United States.

Does the application require a US address?

Yes. Use the address of your US Citizen cosigner.

How long does it take for the loan to be finalized?

You will receive a response as soon as you have supplied all the application requirements. The lender is required by law to wait 14 days after the loan is approved before disbursing the funds to the school.

Maharishi University of Management maintains a Code of Conduct regarding educational loans.


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