nervousgmat, please consult the following excerpt from Cornell's website:
Forté Fellows Program
The Johnson School participates in the Forté Foundation Fellows Program. Exceptional women candidates of all national origins who have been admitted into our two-year MBA program are eligible for consideration. The admissions committee decide who will represent the Johnson School as Forté Fellows. No application is needed.Outside Scholarships
Scholarships from outside the school are available from many sources. There is some effort involved in securing outside funds. The key is to apply early. Private scholarships may be based on various selection criteria: academic achievement, religious affiliation, ethnicity, memberships, civic activities, hobbies, or special talents. Start your scholarship search by contacting your employee benefits office, your parent(s) employer(s), church, civic groups or any other organization you think may have some scholarship opportunities. The Internet is a great resource for scholarship information.http://www.finaid.org/http://www.fastweb.com/
Scholarship information is also available on-line from select sources, such as:
Financial Aid for Business Students
The Robert A. Toigo Foundation
The Little Family Foundation MBA Fellowship Award:
Available to past participants - both students and volunteers - of any of Junior Achievement's high school programs and to volunteers who have taught a minimum of two classes of Junior Achievement's K-8 programs.
The American Association of University Women (AAUW) Educational Foundation
MBA/Master of Arts in Asian Studies - Blakemore Freeman Fellowships for Advanced Asian Language Study
The Paul and Daisy Soros Fellowships for New Americans
National Society of Hispanic MBA's
National Black MBA Association for minority students enrolled full-time in an MBA program.
Credit Suisse MBA Fellowship Program This program grants merit-based awards to leading diversity MBA candidates
Hispanic Scholarship Fund
Herbert W. Whiteman Jr. Scholarship Program - Urban Financial Services Coalition Foundation
USA Funds - Educational Scholarships: scholarship programs to help lower-income students pay for higher education; awards are targeted to members of ethnic minority groups or individuals with physical disabilities.
Jack Kent Cooke Foundation
American Institute of Certified Public Accountants (AICPA)
Ewing Marion Kauffman Foundation
The International Air Cargo Association (TIACA)
Environmental Leadership Program (ELP) Fellowship: ELP is a non-profit organization dedicated to training and supporting a new generation of environmental leaders from diverse cultural backgrounds, disciplines, and sectors.
Pension Real Estate Association Scholarships: students majoring or concentrating in real estate
The Scholarship Foundation of Santa Barbara, Graduate/Medical Scholarship Program: Must have attended high school in Santa Barbara County and have graduated from a secondary school in Santa Barbara County. Re-entry Adult applicants who have resided in Santa Barbara for a minimum of the last three years as a non-student may also be eligible.
The Grace LeGendre Endowment Fund, Inc., an affiliate of the Business and Professional Women's Clubs of New York State, Inc. Applicants must be permanent residents of New York State and meet other qualifications.
Richard Metzler Scholarship Primary bases for selection is commitment to management consulting. Other qualities such as initiative, character, responsibility and community service are also considered.
Roche MBA Fellowship, for Medical and Science Graduates, a resident of Switzerland, a Swiss national abroad or an employee of a Roche Group company.
Free Canadian Scholarship Search
Magdalena O. Vda. de Brockmann, offers scholarships to Mexican citizens.
Instituto Ling Fellowship Program, for Brazilian citizens with entrepreneurial spirit and leadership skills to contribute to Brazilian economic, social and cultural development.
The Gerondelis Foundation for Greek or Cypriot Nationals: phone (781) 595-3311.
The International Fellowships Program provides support for up to three years of formal graduate-level study. Fellows will be selected from countries in Asia, Africa, the Middle East, Latin America and Russia, where the Ford Foundation maintains active overseas programs. U.S. nationals are not eligible, although Fellows may study in the United States.
Fulbright Scholars Program: Sponsored by the Bureau of Educational and Cultural Affairs of the United States Department of State. Its primary goal is to promote educational and cultural exchange and increase mutual understanding between the people of the United States and people of various other countries.
The SmartStudent Guide to Studying in the USA: Scholarships for International StudentsLoan Program Information
An endeavor for a Master of Business Administration degree is an investment that, like any other major investment, should be evaluated carefully. Education loans represent a serious debt obligation and the monthly payments that will be encountered upon graduation should be considered. Manageable education loan repayments represent 6.5 to 12 percent of after-tax income or 5 to 9.5 percent of gross starting salary. Please be advised that you will incur a heavy amount of debt if you choose to finance your education entirely with loans.
Outlined below is information on several loan programs supported by our office. If you have additional questions regarding these programs, please feel free to contact our office.Federal Direct Loan Program
Cornell participates in the Federal Direct Loan Program, which includes federally subsidized and unsubsidized loans. As a direct lender, we will use the information you provide on your FAFSA to calculate your eligibility. No additional loan application is necessary. Cornell University uses an online Master Promissory Note (MPN) and our office will notify you once available for your signature. Eligibility is limited to U.S. citizens and permanent residents. The loan limit is $20,500 per academic year; up to $8,500 may be interest free while in school depending on the applicant's financial need as reflected on the SAR. Repayment is deferred until six months after graduation (or cease at least half-time enrollment) and carries a fixed rate of 6.8%.Federal Direct Grad PLUS Loan Program
Effective July 1, 2006, the Federal Direct PLUS program has expanded to include graduate and professional students and is referred to as Grad PLUS. This federal loan program may be an alternative to the private education loan program. In addition to the FAFSA this program requires a separate application and approval is based upon a review of your credit history. There is a 4 percent loan fee; however offers an upfront 1.5 percent rebate of the loan amount borrowed. Once in repayment you must make 12 required monthly payments on time or the rebate amount will be added back to the principal balance on your loan. Interest will begin to accrue once the loan is disbursed. Repayment begins 60 days after the last disbursement, however, a student enrolled at least half-time is eligible for in-school deferment. Standard repayment term is 10 years; however, can be extended up to 25 years based on amount borrowed. The rate on the Grad PLUS is 7.9 percent fixed interest rate.Johnson School and Institutional Loan Program
Institutional loans are loans funded by Cornell University. We have several different loan programs which have different terms and conditions. Eligibility for each of these loans is limited to U.S. citizens and permanent residents, based on financial need and is awarded at the discretion of the financial aid office. No additional loan application is necessary.Private Education Loan Programs
Private loans enable students to borrow additional funds to cover their expected contribution or the unmet need portion of their aid package. Annual loan amounts are limited to the total cost of education as determined by the educational institution, less any loans or financial assistance you receive. The Johnson School financial aid office determines borrowing limits for each student. There are cumulative borrowing limits which may affect the amount you qualify to borrow. Loan approval is based upon a review of your credit history. It is important to have a good credit record.
Cornell does not recommend a particular lender, this is a personal choice. We do participate with three major programs in providing educational loans for our students: Citibank, Access Group and MBA Loans. Private loans begin to accrue interest immediately, although accrued interest may be capitalized while the borrower is enrolled as a full time student.
We have outlined general terms and conditions of each loan program below. Fees and rates are subject to change and you should consider each loan carefully before selecting a particular lender. Please do not submit a private loan application before June 1.Citibank CitiAssist Loan
: U.S. citizens, permanent residents, and eligible non-citizens. The current interest rate is based on the Prime Rate minus .50% or + .25% (based on credit). There are no application, insurance, or processing fees associated with the CitiAssist Loan. You may find out more information on their web site or by phoning Citibank at 1-888-812-5030 or 605-331-0821 Collect.Access Group
: Borrowers must be U.S. citizens or eligible non-citizens with valid social security number. Current interest rate; three month LIBOR + 2.75 percent or 3.95 percent. The borrowers past credit behavior determines the interest rate. You may find out more about this loan program by visiting their web site or you may phone Access Group at 800 282-1550.Sallie Mae
: Borrowers must be U.S. citizens, a permanent resident, or an international student may borrow with a credit-worthy U.S. citizen or permanent resident as cosigner. The interest rate on the loan is variable and adjusted quarterly. You may find out more about MBA LOANS on their web site or by calling customer service staff at
1-888-440-4MBA (1-888-440-4622 ).