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Consulting: Johnson Cornell (fin aid) x Michigan (no aid)

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Consulting: Johnson Cornell (fin aid) x Michigan (no aid) [#permalink] New post 08 May 2013, 03:39
Hello guys,

first of all, I’ve not been admitted to Ross yet, so I might be stressing over something that doesn’t actually happen.

Nonetheless, if I do get an admission offer from Ross, I have to decide very quickly (usually within 24 hours).
The problem is that I’m an international applicant and I have no cosigner and therefore, no loan.
I have saved some cash for the course, but I will definitely be in a very tight financial situation (I probably will have the opportunity to go out with current students for dinners and beers, but I would not have enough money for several travels)

My main objective is consulting. I know that Michigan is pretty good in consulting, but is it worth choosing it over Cornell, considering that I will have a considerable lower standard of living?

Thanks!
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Re: Consulting: Johnson Cornell (fin aid) x Michigan (no aid) [#permalink] New post 08 May 2013, 04:52
rainfall wrote:
Hello guys,

first of all, I’ve not been admitted to Ross yet, so I might be stressing over something that doesn’t actually happen.

Nonetheless, if I do get an admission offer from Ross, I have to decide very quickly (usually within 24 hours).
The problem is that I’m an international applicant and I have no cosigner and therefore, no loan.
I have saved some cash for the course, but I will definitely be in a very tight financial situation (I probably will have the opportunity to go out with current students for dinners and beers, but I would not have enough money for several travels)

My main objective is consulting. I know that Michigan is pretty good in consulting, but is it worth choosing it over Cornell, considering that I will have a considerable lower standard of living?

Thanks!



Do you have offer from Cornell? I assume you do. As of now the only offer you have should not create any problems. When you have problem of choosing Ross vs Cornell get back with your specific queries. I can possibly offer some insights :)
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Re: Consulting: Johnson Cornell (fin aid) x Michigan (no aid) [#permalink] New post 08 May 2013, 11:58
crackHSW wrote:
rainfall wrote:
Hello guys,

first of all, I’ve not been admitted to Ross yet, so I might be stressing over something that doesn’t actually happen.

Nonetheless, if I do get an admission offer from Ross, I have to decide very quickly (usually within 24 hours).
The problem is that I’m an international applicant and I have no cosigner and therefore, no loan.
I have saved some cash for the course, but I will definitely be in a very tight financial situation (I probably will have the opportunity to go out with current students for dinners and beers, but I would not have enough money for several travels)

My main objective is consulting. I know that Michigan is pretty good in consulting, but is it worth choosing it over Cornell, considering that I will have a considerable lower standard of living?

Thanks!



Do you have offer from Cornell? I assume you do. As of now the only offer you have should not create any problems. When you have problem of choosing Ross vs Cornell get back with your specific queries. I can possibly offer some insights :)


What’s the cost of giving your opinion without knowing that I’m going to be admitted after all?
Nevermind…

Yes, I do have an offer from Johnson.
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Re: Consulting: Johnson Cornell (fin aid) x Michigan (no aid) [#permalink] New post 08 May 2013, 12:14
to clarify, whats the financial situation w/ cornell? have they given you a scholarship? (how much $) or were you able to get some loans to go there for the full price?
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Re: Consulting: Johnson Cornell (fin aid) x Michigan (no aid) [#permalink] New post 08 May 2013, 18:17
old1442 wrote:
to clarify, whats the financial situation w/ cornell? have they given you a scholarship? (how much $) or were you able to get some loans to go there for the full price?


The financial aid at cornell is not about scholarship, it's just the loan for the full tuition
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Re: Consulting: Johnson Cornell (fin aid) x Michigan (no aid) [#permalink] New post 08 May 2013, 20:18
rainfall wrote:
crackHSW wrote:
rainfall wrote:
Hello guys,

first of all, I’ve not been admitted to Ross yet, so I might be stressing over something that doesn’t actually happen.

Nonetheless, if I do get an admission offer from Ross, I have to decide very quickly (usually within 24 hours).
The problem is that I’m an international applicant and I have no cosigner and therefore, no loan.
I have saved some cash for the course, but I will definitely be in a very tight financial situation (I probably will have the opportunity to go out with current students for dinners and beers, but I would not have enough money for several travels)

My main objective is consulting. I know that Michigan is pretty good in consulting, but is it worth choosing it over Cornell, considering that I will have a considerable lower standard of living?

Thanks!



Do you have offer from Cornell? I assume you do. As of now the only offer you have should not create any problems. When you have problem of choosing Ross vs Cornell get back with your specific queries. I can possibly offer some insights :)


What’s the cost of giving your opinion without knowing that I’m going to be admitted after all?
Nevermind…

Yes, I do have an offer from Johnson.



Well its not about the cost in any form (time or money), but if you don't have an offer from Ross what's the point of comparing. Anyways here are my two cents on the hypothetical situation :

Considering Ross doesn't offer loan for internationals its could be mighty tough to arrange for the cost of attending the program. Again on the assumption that you need loan.

On the other hand with Cornell your problem is sorted out. So here is the thing if you want to make money as the criteria for the decision then its simple - Cornell. Otherwise I know you cant go wrong at any of the schools. Both are top notch schools with Cornell having a slight advantage in fin and Ross having a slight advantage in Consulting . The location of both the schools is something that cannot help you make a decision. The class size is something you might want to look into. Are you comfortable in a larger group or a smaller group. Also you might want to check with the career service the kind of companies you are interested in. One final thing talk to as many alums and 2nd year students at both the schools to get a feel of the culture at both the schools. This would help immensely and give you a sense of belongingness. I hope this helps.

Cheers :)
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Re: Consulting: Johnson Cornell (fin aid) x Michigan (no aid) [#permalink] New post 08 May 2013, 22:21
rainfall wrote:
Hello guys,

first of all, I’ve not been admitted to Ross yet, so I might be stressing over something that doesn’t actually happen.

Nonetheless, if I do get an admission offer from Ross, I have to decide very quickly (usually within 24 hours).
The problem is that I’m an international applicant and I have no cosigner and therefore, no loan.
I have saved some cash for the course, but I will definitely be in a very tight financial situation (I probably will have the opportunity to go out with current students for dinners and beers, but I would not have enough money for several travels)

My main objective is consulting. I know that Michigan is pretty good in consulting, but is it worth choosing it over Cornell, considering that I will have a considerable lower standard of living?

Thanks!


i think ross would be better for consulting. sounds like you can manage to pay for school although you won't be living it up and might miss some travel opportunities. at the end of the day ur still paying full price for both programs and perhaps more for cornell with interest on your loans. ross is a better ranked school and better for consulting. also, remember the internship should add 8-10k/month to your pocket. if you had some kind of scholarship i think it'd be another story. but if you can go to ross and forgo some travels i think you'll be fine. or find some part time work until august to make a few extra $$$ to help you.

if you dont get in to ross, cornell is a great option as well. but between the two, id go to ross. and see if you can apply for scholarships while you're there or be a t.a. or something (not sure how it works for international students)
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Re: Consulting: Johnson Cornell (fin aid) x Michigan (no aid) [#permalink] New post 08 May 2013, 22:41
rainfall wrote:
old1442 wrote:
to clarify, whats the financial situation w/ cornell? have they given you a scholarship? (how much $) or were you able to get some loans to go there for the full price?


The financial aid at cornell is not about scholarship, it's just the loan for the full tuition



Rainfall, What's the APR on the student loan Cornell offers to internationals without cosigner? Is it reducing balance and if so how much do you need to pay per month after graduation over say a 10 year period? Have you worked those numbers? Could you share some insight, much appreciated. thanks
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Re: Consulting: Johnson Cornell (fin aid) x Michigan (no aid) [#permalink] New post 08 May 2013, 22:48
IMHO, both schools are top notch and have the ability to get you into any top consulting firm.. But as far as getting you prepared for consulting is concerned, I think Ross leads the way.. They have a really beautiful well structured action learning program (arguably the best action learning program I've seen among the top 15) and they also have some amazing consulting related clubs...
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Re: Consulting: Johnson Cornell (fin aid) x Michigan (no aid) [#permalink] New post 09 May 2013, 13:27
ace312 wrote:
rainfall wrote:
old1442 wrote:
to clarify, whats the financial situation w/ cornell? have they given you a scholarship? (how much $) or were you able to get some loans to go there for the full price?


The financial aid at cornell is not about scholarship, it's just the loan for the full tuition



Rainfall, What's the APR on the student loan Cornell offers to internationals without cosigner? Is it reducing balance and if so how much do you need to pay per month after graduation over say a 10 year period? Have you worked those numbers? Could you share some insight, much appreciated. thanks


That's a good question

In Johnson you pay a high interest rate for internationals (something about 6.75 per year), but that’s my only choice. I could ask funds from my family, but I only would ask something if I was in a really bad situation.

After graduation, the student can choose to make amortization over the period (up to 25 years depending on the amount borrowed) or just pay interest for 2 years and then start to amortize in the remaining years.
It is an expensive credit, I know (even though in my country, the credit would be at least twice as much as expensive).
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Re: Consulting: Johnson Cornell (fin aid) x Michigan (no aid) [#permalink] New post 09 May 2013, 13:30
And thanks for the opinions on both schools. It's clear that Johnson is good enough for consulting, and Ross is slightly better for this role.
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Re: Consulting: Johnson Cornell (fin aid) x Michigan (no aid) [#permalink] New post 10 May 2013, 13:46
rainfall wrote:

My main objective is consulting. I know that Michigan is pretty good in consulting, but is it worth choosing it over Cornell, considering that I will have a considerable lower standard of living?


I went to Cornell for undergrad. The cost of living was not that low..
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Re: Consulting: Johnson Cornell (fin aid) x Michigan (no aid) [#permalink] New post 12 May 2013, 07:24
If you're thinking about going into consulting back in your home country there is no big difference in any of the top 15 or so schools - you can generally get a first round interview in any of them.

Things are different if you want to do consulting in the US - your chances are better the bigger of a consulting school you go to but by no means assured.
Re: Consulting: Johnson Cornell (fin aid) x Michigan (no aid)   [#permalink] 12 May 2013, 07:24
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