I have a few questions about the "Cost of Attendance." I'm not really sure how to word this question, so I'll just come right out and say it: the estimated "Cost of Attendance" figure they site, is it REALLY enough? I'll have enough to worry about--treks, trips, networking functions, better suits, etc. Does the school work with students if they need to borrow more money? and how flexible are they about it?
Additionally, I received a decently sized outside scholarship from my firm. As a result, Booth is reducing my financial aid package to fit within their estimated "Cost of Attendance" figure. In doing so, the school is essentially making the scholarship I earned irrelevant to my financial situation, as the outside funds are being swapped for the merit scholarship I received and a portion of my federal loans.
From what I can tell, the quarterly COA figure, less tuition, fees, health insurance, will net a reimbursement of $9,050/Qr. That figure less quarterly rent expenses in Chicago ($4500/Qr), books ($700/Qr), transportation ($450/Qr), and Food ($1800/Qr) will leave me with $1,600. (Note that I didn't even mention the fact that I desperately need to purchase a new computer for school!)
I guess what I'm trying to ask is twofold: 1) is there a way to get the school to reconsider how it applies my outside scholarship? The firm explicitly states in the letter that the scholarship is to be applied to expenses--including tuition, cost of living, books, fees, etc.--related to my MBA. Must they reduce the whole of my aid package just because I did something good.. geez; and 2) to revisit my initial question, will it be possible to increase my direct loan amount once school starts, if need be? Trust me, in my case an increase will be necessary. I don't want to have to miss out on anything during my time at Booth on account of money. I'm almost certain that in my case, without additional funding, I will, hence why I sought to compete for and obtain an outside scholarship in the first place.
I hope I'm making sense. Any response and/or insight would definitely be appreciated.
Thanks all!!!