Stanford Business Students Turn to Alumni for Education Loans
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As borrowers go, you’d think a graduate student of business at Stanford University would be a lender’s dream.
The school says fewer than 1 percent of its graduates defaulted on their loans in 2011, and 95 percent had jobs within three months of graduation. Yet Adam Potter, a former marine, couldn’t get a bank loan to help fund his second year at the Stanford Graduate School of Business without a co-signer. Then he heard about an unlikely source of money: the school’s alumni.