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British students considering taking MBA courses in the US will find it increasingly hard to find loans to cover the cost of their post-graduate studies, a report in the Financial Times has claimed.
According to the FT report, the weak dollar had recently driven the appeal of MBA courses across the Atlantic among British students .
However, the paper has revealed that the number of student loans available for those considering such post-graduate courses has been severely reduced due to the credit crunch.
The report highlighted research carried out by the National Association of Student Financial Aid Administrators which showed that 50 lenders have suspended their post-graduate student loan deals .
"The cost of loan repayment is particularly high for students from outside the US who apply for loans from US institutions," the report explained.
"This is because credit references are not required and also the lenders find it harder to track down students on graduation if they return to their home countries."
As a result, British students can now expect to pay around 7 per cent interest on a post-graduate student loan in the US .
The report concluded that with MBA courses in America typically costing around $150,000 (£75,000) to complete, the rising price of loans could deter many British students, despite the fact that they will be able to secure high-paying jobs after graduation .
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