NEW HERE? LEARN MORE
closeclose
Last visit was: 27 Apr 2024, 21:46 It is currently 27 Apr 2024, 21:46
Decision Tracker
My Rewards
New posts
New comers' posts

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.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel

"A copy of bank statement with a minimum of $40,000 USD"

SORT BY:
Date
Kudos
User avatar
lifeisshort
Manager
Manager
Joined: 11 Mar 2010
Posts: 53
Own Kudos [?]: 44 [0]
Given Kudos: 6
Send PM
"A copy of bank statement with a minimum of $40,000 USD" [#permalink] New post   06 Nov 2010, 10:23
The following requirement of one foreign university:

Quote:
Additional Required Documents for International Applicants
· A copy of bank statement with a minimum of $40,000 USD
SEE: https://biz2.korea.ac.kr/academics/mba/global4.jsp?d1=3&d2=6&d3=4

Perhaps I'm reading this incorrectly, but am I correct to assume, that unless you have $40,000USD in the bank, you're automatically dinged from admissions?
I've been looking into foreign programs (East Asian) and this "show me your bank account" requirement appears to be common with most, if not all, of these universities.

To my knowledge, American schools don't have this requirement, so what's the story?
avatar
cocoj
Manager
Manager
Joined: 28 Sep 2010
Posts: 54
Own Kudos [?]: 4 [0]
Given Kudos: 2
Location: USA
Send PM
Re: "A copy of bank statement with a minimum of $40,000 USD" [#permalink] New post   08 Nov 2010, 12:49
You really want to be one of these guys?:


I lived in Seoul for a bit- IMHO Seoul National University and Yonsei have more of an international reputation. I would think that the $40,000 requirement could either be waived given you live somewhere with relatively easy student financing- it's probably set up to discourage applicants without a hope of paying. Contact admissions.
User avatar
lifeisshort
Manager
Manager
Joined: 11 Mar 2010
Posts: 53
Own Kudos [?]: 44 [0]
Given Kudos: 6
Send PM
Re: "A copy of bank statement with a minimum of $40,000 USD" [#permalink] New post   08 Nov 2010, 13:37
cocoj wrote:
You really want to be one of these guys?:

I lived in Seoul for a bit- IMHO Seoul National University and Yonsei have more of an international reputation. I would think that the $40,000 requirement could either be waived given you live somewhere with relatively easy student financing- it's probably set up to discourage applicants without a hope of paying. Contact admissions.


To answer the first: No. I don't, haha.
I'm mostly interested in Global/International MBA programs, so thank you for the tip re: schools.
Re: bank account requirement: I can definitely understand it, but it's still a little shocking.
avatar
alybaba216
Intern
Intern
Joined: 24 Feb 2010
Posts: 17
Own Kudos [?]: 2 [0]
Given Kudos: 0
Schools: Ross '16 (A) Booth (D) Anderson '16 (WL) McDonough '16 (A)
Send PM
Re: "A copy of bank statement with a minimum of $40,000 USD" [#permalink] New post   28 Nov 2010, 08:01
That's quite absurd
User avatar
gmat1011
Manager
Manager
Joined: 11 Jul 2010
Posts: 139
Own Kudos [?]: 215 [0]
Given Kudos: 20
Send PM
GMAT ToolKit User
Re: "A copy of bank statement with a minimum of $40,000 USD" [#permalink] New post   28 Nov 2010, 08:33
Well, American unis may not require it so blatantly but the American immigration system /student visa system has the same "show me the money" requirement built in for foreign students coming to the us to study. You generally won't be able to come on a student visa to the us if you don't have liquid funds. While this requirement that you highlight does look funny, it's there in the us as well in a difft form.

Source of info: a prior masters deg from the us and associated visa process

Posted from my mobile device
GMAT Club Bot
gmatclubot
Re: "A copy of bank statement with a minimum of $40,000 USD" [#permalink]
28 Nov 2010, 08:33

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne
Main navigation
GMAT Resources
Partners
MBA Resources
www.gmac.com|www.mba.com | | GMAT Club Rules | Terms and Conditions