Mark

How He’s Paying for His MBA

Quorum loan, private line of credit

His Story

Mark is an international student with a background in investments, so he used a two-step process to finance his MBA. First, he borrowed the full budget amount from Quorum as an international student.

“Quorum seemed easier to manage than Prodigy,” he said.

Then he immediately repaid the Quorum loan and drew down on a private liquidity line with a lower rate, although the rate was “not as low as if I was a U.S citizen,” Mark said. He used his savings with a private wealth manager as security for the loan.

“I am choosing to borrow (and willing to pay the cost of borrowing) so that I have available cash/liquidity during school and, more importantly, after school, when it comes time for me to go back to work. I will likely work in investing (private equity), where I may have obligations to invest into the funds and need cash on-hand,” he said.

As part of his budget decisions, he chose to live in Center City with one roommate and plans to go on a Wharton Leadership Venture or other immersive experience.

Mark advises other students, “Determine a budget upfront and think about what your personal balance sheet may look like upon graduation and what your cash profile will be during school and post-MBA. Basically you want to understand how much money you will be spending over the two years, how much debt you need to take on, and then what your net assets/total debt position would be upon graduation. Have a sense for how long it might take you to pay back all of the debt.”

Hometown
Toronto

Major
Business Analytics

Previous Education
University of Calgary, bachelor’s, finance

Previous Career
Senior investment associate, private equity; senior analyst, investment banking M&A