The Right Way to Negotiate MBA Merit Scholarships
Acceptance into an MBA program is a major accomplishment that makes the months of application preparation (and worrying) all worth it. Icing on the cake is learning that you’ve also been awarded a merit scholarship.
If you suddenly find yourself with a financial incentive to attend a certain school, you’ll be understandably honored and overjoyed at your good fortune. However, if you’ve been accepted into more than one program, this unexpected twist can often make your ultimate decision that much harder.
Here’s something such lucky future students often forget: you can try to negotiate merit scholarships. This is one of those rare situations in life where — if handled professionally, of course — you really have nothing to lose.
If you received drastically different scholarship amounts for two or more programs — or were given a financial award for one school but nothing for another — why not contact the adcom and explain your situation?
This is probably obvious, but we wouldn’t recommend naming the competing institution, sharing your offer letter or making demands. Rather, simply reach out to the admissions office, reiterate your deep interest in attending their program, and then ask if it’s possible to be considered for a higher scholarship amount (or any scholarship amount) because you now have another offer of acceptance and financial incentive on the table.
Until next time,
The team at Stacy Blackman Consulting