Spring10 wrote:
So, this may be a question I should know from the CGSM site, but I'm still a little unclear: does the consortium fellowship pay just for tuition, or tuition AND the estimated cost of attendance for your program (i.e. - room and board if on campus, health insurance, etc)? Thanks.
The Consortium Fellowship covers "tuition and fees," which is a very sweet deal. That does not include, however, room and board, health insurance, books, etc. To cover those costs, you can a) pay out of pocket, b) take out one or more loans, c) apply for additional grants or scholarships (through your school or external programs), d) complete a work-study program such as a graduate assitantship, or e) any combination of the above.
For example, if your school estimates total annual cost of attendance to be about $70k with $50k of that being tuition and fees (and the rest being room and board, etc.), the Consortium Fellowship will cover $100k of that over two years while you will be responsible for $40k. Thus, the Consortium Fellowship siginificantly reduces the "financial burden" of receiving an MBA from a great program, but does not eliminate it entirely.
Please note that I am not a financial aid officer, but rather a Fall 2010 applicant. To get a more definitive answer on what options are available to cover the cost of living, etc. expenses, you should contact financial aid officers at the program(s) that you are interested in attending.
Best of luck to you!