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Intern
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Savings and Loans/Financial Aid [#permalink]
 07 Mar 2011, 12:18
Hi all, I've been hearing some info floating around between my friends that having a decent savings account will decrease the amount of aid/loans that you'll be given for an MBA. I'm not sure this is true or not and I haven't been able to find any useful information online. Any ideas?
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Founder
Status: Traveling...
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Re: Savings and Loans/Financial Aid [#permalink]
07 Mar 2011, 12:29
This may be a good place to start: fafsa-strategies-75251.html
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Senior Manager
Joined: 19 Nov 2006
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Re: Savings and Loans/Financial Aid [#permalink]
10 Mar 2011, 12:05
Generally no. It might decrease your chance of getting a subsidized Stafford loan, but you have to be making a really low salary to qualify for those anyways. Most people only qualify for unsubsidized. Most scholarships are not need based so doesn't affect those. The school will let you borrow through them up to the max cost of attending (less any scholarship money they give you).
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Current Student
Joined: 28 May 2010
Posts: 158
Location: Brazil
Concentration: Finance, Entrepreneurship
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Re: Savings and Loans/Financial Aid [#permalink]
10 Mar 2011, 12:58
You might find this website helpful. It forecasts your EFC and how much you can expect in aid: https://fafsa.ed.gov/FAFSA/app/f4cForm
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Re: Savings and Loans/Financial Aid
[#permalink]
10 Mar 2011, 12:58
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