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Stanford Star One CU ink student loan deal
STANFORD, Calif. (6/11/09)--Stanford University Graduate School of Business announced the start of a new private loan program through Star One CU to provide financial assistance to students admitted to the school’s Master of Business Administration, doctorate, and Sloan master’s programs. The custom loans cover tuition and living expenses, and will be available to those without a U.S. co-signer--which will benefit international students. “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 CU, we … offer loans to international students under similarly favorable terms and competitive rates as those available to domestic students.” Star One, based in Sunnyvale, Calif., developed the custom loan program for the school’s international graduate students with Credit Union Student Choice, a credit-union-owned organization serving certified academic institutions, and that offers customized student lending solutions to client credit unions nationwide. The loan program offers a 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 president/CEO. “We are a local cooperative with a keen focus on the communities we serve.” Star One CU has $4.122 billion in assets.
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