Find all School-related info fast with the new School-Specific MBA Forum

It is currently 22 Jul 2014, 22:16

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Costs & Financial Aid

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
Manager
Manager
User avatar
Joined: 24 Aug 2007
Posts: 192
Schools: MIT
Followers: 5

Kudos [?]: 9 [0], given: 0

Costs & Financial Aid [#permalink] New post 04 Nov 2007, 03:30
1)Curious to know how actual living costs compare with estimates on websites, particularly for Ultra Elite schools.
2)For international applicants, I understand there is some kind of a guaranteed loan. In this context, what is the min. amount of money one is expected to show from own savings?
Current Student
User avatar
Joined: 29 Jan 2005
Posts: 5253
Followers: 23

Kudos [?]: 120 [0], given: 0

GMAT Tests User Reviews Badge
Re: Costs & Financial Aid [#permalink] New post 06 Nov 2007, 20:20
collegesenior wrote:
1)Curious to know how actual living costs compare with estimates on websites, particularly for Ultra Elite schools.
2)For international applicants, I understand there is some kind of a guaranteed loan. In this context, what is the min. amount of money one is expected to show from own savings?


It really depends on where you live and your lifestyle. I'm not attending an ultra-elite (or even elite) school, however my family budget is roughly $2000 a month, and that's living in a 700 sqft apartment a mere five blocks from campus. Add another ~$500 if you want a car, and another $1000 if you eat out regularly (I cook three meals a day).

I do know of a few frugal domestic and international classmates who claim to be scraping by on about $1200 p/month, but I can't imagine how.
SVP
SVP
User avatar
Joined: 01 Nov 2006
Posts: 1855
Schools: The Duke MBA, Class of 2009
Followers: 16

Kudos [?]: 178 [0], given: 2

GMAT Tests User
 [#permalink] New post 06 Nov 2007, 20:34
it seems like the schools in super-pricy areas (nyu, stanford, hah-vahd) don't have ECLs (estimated cost of living) that make up for their areas high costs.

I think you actually get by in Durham, but there's no way in those pricier areas.

Lepium? Johnny? Any thoughts?

As a former financial counselor, here's my advice: forget how much money you made before. Wipe it out. Now sit down and try to crunch some numbers. What will your rent be? Groceries? Etc? Check out the bottom line, and then adjust. Spend less or bring in more.
  [#permalink] 06 Nov 2007, 20:34
    Similar topics Author Replies Last post
Similar
Topics:
Financial Aid skaballet 1 08 Jan 2008, 08:38
Financial aid! Kastel 2 14 Nov 2007, 04:32
When to apply for financial aid. pelihu 12 12 Jan 2007, 03:48
Experts publish their posts in the topic financial aid question Jennif102 1 22 Dec 2005, 17:54
MBA Financial Aid Hjort 5 05 May 2005, 16:02
Display posts from previous: Sort by

Costs & Financial Aid

  Question banks Downloads My Bookmarks Reviews Important topics  

Moderator: threestripes



cron

GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.