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As part of the scholarship registration we are asked to provide the following information:
- Value of cash, savings and checking accounts - Value of real estate (if applicable) / Value of business (if applicable) - Value of stocks, bonds, pension funds and certificates of deposit and other investments - Value of trust funds of which you (and/or your partner) is the beneficiary - Total value of assets
This seems a little strange as there is no further request for information on liabilities. As gross assets it is not an accurate representation of an applicants position.
For example, someone may own a property but have a sizeable mortgage which not only represents a liability, but also may incur significant monthly cash outflows to service. Someone else may have a significant pension pot, but might not be accessible for 30 or 40 odd more years and therefore has little relevance to financing an MBA. Other still may have outstanding loans or credit cards which could be settled in full by selling stocks or liquidating savings that have been reported above.
I would be interested to hear what people have done in the past to reflect this more accurately.