All students in the MS program have made a financial commitment to repay their program costs through the completion of their practicum component, or through some alternate arrangement. If a student wants to enter a Ph.D program, they would need to show that they had some ability or arrangement to continue to pay off their bank loan even while changing from a full time work position to full time study.
It is important to understand that full repayment of the loan as per their agreement for their program is both a moral and legal obligation, and failure to do so would jeopardize their financial record and status in the US. MUM will legally pursue any defaulted outstanding loans. Further, many schools are reluctant to admit students with unfulfilled legal or financial obligations. Similarly many employers would find an intentional loan default a sign of some problem with any potential employee.
We are very happy that any student has aspirations to continue to pursue higher education, and enter a PhD program, but first they should complete the program and commitments that they have already started.