Entry to the program starts at $3,000.
No other university in the U.S. offers this low entry fee. Pay off the remaining tuition from your earnings during your internship.
How does the loan work for international students?
Students working in Curricular Practical Training (CPT) find that the loan payment is part of an affordable budget and can be paid by their after-tax income along with paying their living expenses. It is common for students to also accumulate savings while doing the CPT internship.
If international student has no co-signer, you will be required to pay a modest amount upon enrollment. The amount required will depend on the level of financial aid for which you qualify. The balance of your program expenses is then paid through the Computer Professionals Loan.
MIU is the guarantor of a bank loan with a local bank. Please note: MIU receives no benefit or advantage from this arrangement and you may choose any lender you wish.
Additional loan and payment options that might apply to some international students
To pay the initial amount due, some of our students apply for an “Alternative Loan.” To qualify, you would need to have a loan co-signer with a good credit rating who is a U.S. citizen or a permanent U.S. resident. You may also use a larger Alternative Loan to pay your entire program expense; if you pay for the entire program when enrolling, you would get a tuition discount of $1,000.
An alternative cash plan is available for those not wanting to pay back a loan. The cash plan requires an additional $5,000 cash payment above and beyond the first program payment. The additional $5,000 payment is made when a student gets a Curricular Practical Training (CPT) job offer, but before they start work. Then, starting two months later, they repay the remaining balance due in 16 months (with direct payments to MIU via checking account ACH debit or online credit card payment to MIU).
Program cost details for international students
For international students, the initial cost, covering 2 semesters of coursework, organic dining, health insurance and comfortable housing (single room) on our campus in the U.S. (near Chicago) is between $3000 and $7500, depending on your initial level of qualification. More experienced, senior SDs pay the least up front.
For international students who enter our Direct Track, total program costs are:
Tuition: $34,000 (will be $36,000 starting May 2020)
Room and Board: $7400
TOTAL: $42,150 (will be $44,150 starting May 2020)
You also need to have $2000 available to cover personal expenses when first arriving on campus to begin 8 months of classes.
Students entering our Preparatory Track need one additional course, which adds $2000 to total program cost.
Typical salary, income taxes and living costs for curricular practical training (CPT) students in US
A typical budget does allow students to pay off the educational loan in 27 months (with a monthly payment of about $1,600) and live in a standard apartment within 30-minutes commute of their job site as well as accumulate about $500/mo. in savings. Typical take-home pay after taxes is $67,000/year.
Note: Salaries, taxes and living costs vary by location in the US.