Most of the applicants often find themselves in the middle of the boat, whether to drop the idea of doing an MBA from top b-schools or face the extra challenge of paying a heavy amount. We do not want you to shift focus from following your dreams, and this is why we are going to give you an effective plan for Stanford MBA costs.
In this article, you will find a breakdown of cost, attendance cost, adjustments, types of aid, the application process, and loan forgiveness program for MBA alumni.
Other than cost, If you’d like personalized, honest, and in-depth feedback on your profile and essays, feel free to book a 1:1 Profile evaluation with our profile experts (students and alums in the top 10 B-Schools).
Quick Snapshot
| Cost | Single Student | Married Student |
|---|---|---|
| Tuition | $76,950 | $76,950 |
| Living Allowance | $36,198 | $60,084 |
| Books and Supplies | $1,755 | $1,755 |
| Materials and Program Fee | $900 | $900 |
| Transportation | $1,095 | $2,352 |
| Medical Insurance | $6,768 | $6,768 |
| Health Fee | $723 | $723 |
| Total | $124,389 | $149,532 |
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What is Included in Attendance Cost?
The living allowance includes rent, food, and personal expenses for a decent lifestyle. An additional allowance may be made for eligible dependent children.
Medical insurance is also included in the cost of attendance for all students. They can have an alternative insurance plan, but this one is mandatory. We have listed the single-student health insurance rate, assuming that spouses will have separate coverage.
What is Not Included in Attendance Cost?
If you want to have global experience, then those expenses are not included above. The total cost for the global experience may range from $3,000 to $4,500. Some GE can be considered in your cost of attendance calculation, and some cannot. Recipients of need-based fellowships might be eligible for additional funding up to 40% of approved expenses for one qualifying trip.
Adjustment Regarding Attendance Cost
The allowable budget calculation differs from the cost of attendance. This will include GE or medical expenses, if eligible.
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Allowable Budget Adjustments
We have already specified the components of your cost of attendance, and Stanford uses a standard budget to determine your financial aid eligibility. However, they will add additional items to your cost of attendance if there are any special circumstances. Budget adjustments can increase your loan eligibility, but Stanford does not typically increase your fellowship award.
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Medical Expenses or Child Care Costs
If the applicant can submit documents of required medical expenses that are not covered by insurance and/or childcare costs, Stanford may be able to adjust your budget. The most common budget allowances are for both the student and spouse working or attending school full-time for unusual medical expenses and childcare costs.
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Global Experience Requirement Expenses
Students complete their GER before the winter quarter of their second academic year. Global Study Trips and the Stanford Tsinghua Exchange Program can be allowable budget adjustments. Stanford will add the required costs for these programs to your budget so you can receive fellowship and loans to help cover these expenses.
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Laptops
As most students already have laptops and will not need to purchase new ones. However, if students need a laptop, Stanford will consider a reasonable purchase price for financial aid purposes.
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Travel to and from Home
Your flight costs to and from home can be considered as part of your cost of attendance. Stanford gives students two round-trip tickets, which will be added to the cost of attendance each academic year.
Non-Allowable Budget Adjustments
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Consumer Debt
Stanford does not include consumer debt like credit cards, consumer loans, and car loans in your budget. They will not increase your cost of attendance or decrease the value of your assets.
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Nondeferrable Education Loans
Most educational loans have deferment options for students enrolled at Stanford GSB; some educational loans may not have this option. Stanford does not consider these loans as a debt against your assets.
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Global Experience Requirement Expenses
As mentioned above, there are some global experience requirements that are allowable budget adjustments. However, Global Management Immersion Experience or self-directed global experiences are non-allowable budget adjustments.
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Club Fees and Other Expenses
Stanford club fees are not part of the required curriculum, and these expenses are not included in the cost of attendance or will be considered for budget adjustments.
Types of Aid
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Stanford GSB Need-Based Fellowships
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Stanford GSB BOLD Fellows Fund
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Stanford Knight-Hennessy Scholars Program
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Career Support
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Summer Stipends
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External Scholarships
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Employer Sponsorship
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Loans
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Military/Yellow Ribbon
Suggested Readings
Application Process
Materials to submit for U.S. Citizen or Permanent Resident
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Free Application for Federal Student Aid
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Institutional Application
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Federal tax returns from two prior years, including all forms, schedules,
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W-2s and confirmation of tax filing status
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Most recent pay stub
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Materials to submit for International students
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Institutional application
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Most recent tax statements for the last two years from all countries in which you worked, including wage statements
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Most recent pay stub
To help you create a strong application, be a part of our coffee chat which we do every alternate week, where you can have a chance to talk to alums of top B-schools and clear all your doubts and know your future classmates!
Loan Forgiveness Program for MBA Alumni
Stanford encourages students to contribute to social justice, sustainability, or the health of democratic institutions. For that, they offer a loan forgiveness program for alumni
to reduce the financial burden of education. Students must be employed in the nonprofit or public service sectors or in high-impact businesses.
You can find the full details here https://www.gsb.stanford.edu/programs/mba/tuition-financial-aid/loan-forgiveness.
We hope we can give you some great insights on how you can effectively plan for Stanford MBA costs. If you need an upper hand, our team is always there to show you the right direction.
We offer a limited number of complimentary profile evaluations each week. We match you with the students and alums of top B-Schools according to your background and target schools. In this call, the experts will try to dig out your USP for top B-schools and provide you with honest feedback on your profile and chances to your target schools.
