DARIEN, Conn.–(BUSINESS WIRE)–DRB, a marketplace leader in student loan refinancing, today announced it will now offer prospective MBA students the opportunity to finance their MBA degree at some of the lowest rates in the country. This marks DRB’s first student loan for in-school borrowers.
“Student loan debt is one of the largest financial burdens that many of us will face in our lifetimes,” said Gary Lieberman, Chairman of DRB. “For professionals and MBA students, that debt load can now be managed much more effectively. We plan to provide some of the best interest rates in the country for students at top MBA programs. We are continuing to lead the way in innovation in this space by being the only lender to offer in school MBA borrowers a 0.25% discount on their DRB loan when they graduate and start working. We expect this offering will expand our borrower base significantly and provide an opportunity for us to develop long lasting relationships.”
Under the program, DRB will offer current MBA candidates both fixed and variable loans with terms ranging from 10 to 20 years (10 and 15 years for fixed and 10, 15, and 20 years for variable). Variable rates start at 3.25% and fixed rates start at 5.25%. The DRB application process resides online, 24/7, at www.student.drbank.com with instant approval for qualified, prospective MBA borrowers.
“Students are quickly realizing there is a better way to pay down debt and take charge of their financial future, and DRB is proud to play a significant role in that trend,” Mr. Lieberman said.
Since launching this product in 2013, DRB has originated $950 million in student loan refinancings for over 9,000 professional degree holders in the United States.
DRB (Darien Rowayton Bank) is a marketplace leader in student lending. FDIC insured and established in 2006, DRB Student Loan has helped thousands of professionals with graduate and undergraduate degrees across the country to refinance and consolidate hundreds of millions in federal and private school loans, saving these borrowers thousands of dollars. For more information about in school MBA student loans, visit https://student.drbank.com/mba.