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# Admitted to Michigan(Ross) Class of 2014

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Intern
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13 Jan 2012, 00:54
Greetings from India.

I have admits from Cornell, UT Austin and Ross so far. I am decided on Ross. Will have 6 years of work ex in software by the time of matriculation.

Worried about financing bit after reading this thread. Have not been notified of any scholarship. Is non co-signer loan a problem at Ross?
Intern
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13 Jan 2012, 00:55
On a different note, what time should one land in the campus?

I saw that the classes start around 6th September. That is quite late. Any clue on this?
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13 Jan 2012, 01:52
2
KUDOS
neosumit wrote:
Hey Guys,

I am from India with a traditional Engineering background and have 8+ years of experience of working with IT Services/Products
and now a top US financial services firm.

Currently in Mumbai, India. Marital status: Married .

Admitted to Ross with no scholarship.
Now I have to decide between Ross (full fees from pocket) and Washington University's Olin (full tuition waiver).

Eagerly awaiting the release of non cosigner loan information from Ross for International students. Otherwise I will not be able to make it to AA.

Hey Neosumit,

I think there are 2 aspects to your dilema:
1. Choice of school (forego the  from Olin): I think the most important aspect of this choice is your post MBA goals. Do both Olin and Ross give you the necessary tools to achieve your goals. For example, if you want to get into consulting and are targeting McKinsey, does Mck recruit at both schools. May be they don't recruit at Olin, but do Olin alums work at Mck. If yes, get in touch with them to find out about how it worked out for them. If Olin gives you the tools - skills and connections, then go for Olin. Else, this is a no brainer (Olin = failure to meet goals).

2. Financing Ross: This question arises only if you have serious doubts about Olin's ability to further your interests. In this case, lets look at the options. Here's what I am doing:

a. Researching Co-signer loan options: I really like the Sallie Mae option ( https://www1.salliemae.com/internationa ... udents.htm ). This option allows you to release the co-signer once you start repaying the loan. So you need a co-signor until you graduate+get job+start repaying.

b. Arrange for a Co-signer: Get a US permanent resident /citizen as a co-signer and offer to pledge asets in India as a security (say a house by depositing the original deeds with a 'security agent' and creating an equitable mortgage). An old friend and colleague has agreed for the arrangement (let's say he owed me a huge favor). In any case this is an arrangement while I am out of work.

In any case dude, its time to get creative. As I strongly believe, "when the going gets though, the tough get going".
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13 Jan 2012, 02:08
mumbai247 wrote:
a. Researching Co-signer loan options: I really like the Sallie Mae option ( https://www1.salliemae.com/internationa ... udents.htm ). This option allows you to release the co-signer once you start repaying the loan. So you need a co-signor until you graduate+get job+start repaying.

Hey mumbai247,

Thanks for providing this information, however, I am not sure whether we will qualify for co-signer release option. The fine print says:

6 To qualify for cosigner release, borrower must meet age of majority requirements, be a U.S. citizen or permanent resident and meet the underwriting requirements when the release request is processed.

mumbai247 wrote:
In any case dude, its time to get creative. As I strongly believe, "when the going gets though, the tough get going".

WTG ... I agree
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13 Jan 2012, 02:12
Mumbai247,

I know that alumni of Olin are at firms such as McKinsey, BCG etc.
However you are correct in pointing that the top notch MC firms do not recruit MBA grads from Olin.

The point though is am I seriously interested in working in Consulting and spending a great deal of my time traveling away from my family
and working with clients located in every nook and corner of US. Probably no!

However I know that keeping all things equal Ross will still offer me the best in terms of internship/employment opportunities.
I think I will speak to a few alumnus and just get a feel of what they thought of it post MBA.
And finally a brand can get you only till a certain level, beyond that it's who you are.

If I had even half the finance required in my pocket, this would have been a no-brainer.
_________________

I don't know if getting everything I want would make me happy, but the opposite is not working at all!!

Senior Manager
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13 Jan 2012, 07:08
So who here is planning on heading up to AA for GBR?

I'm definitely going so I think I'm going to book my travel and hotel soon.
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13 Jan 2012, 11:21
tfincham86 wrote:
So who here is planning on heading up to AA for GBR?

I'm definitely going so I think I'm going to book my travel and hotel soon.

I'm going to do my best to make it for GBR.

Any other San Francisco admits? If so, we should meet up for a drink and celebrate!
Senior Manager
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13 Jan 2012, 11:22
sfmatt85 wrote:
tfincham86 wrote:
So who here is planning on heading up to AA for GBR?

I'm definitely going so I think I'm going to book my travel and hotel soon.

I'm going to do my best to make it for GBR.

Any other San Francisco admits? If so, we should meet up for a drink and celebrate!

_________________
Manager
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13 Jan 2012, 11:24
neosumit wrote:
Mumbai247,

I know that alumni of Olin are at firms such as McKinsey, BCG etc.
However you are correct in pointing that the top notch MC firms do not recruit MBA grads from Olin.

The point though is am I seriously interested in working in Consulting and spending a great deal of my time traveling away from my family
and working with clients located in every nook and corner of US. Probably no!

However I know that keeping all things equal Ross will still offer me the best in terms of internship/employment opportunities.
I think I will speak to a few alumnus and just get a feel of what they thought of it post MBA.
And finally a brand can get you only till a certain level, beyond that it's who you are.

If I had even half the finance required in my pocket, this would have been a no-brainer.

I will be doing the same thing (reaching out to alumni). I'll pass any info along to you.
_________________

GO BLUE!

Manager
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13 Jan 2012, 22:21
Guys in Mumbai, wanna catch up sometime??? I think a celebration is due before the realities of impending debt spoils the mood.
Manager
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13 Jan 2012, 22:24
Finally erased the RED blobs on my profile... Good-bye Stanford, Yale, and Kellogg.
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13 Jan 2012, 22:36

I'll be there at GBR. Will probably be booking my hotel and travel soon too.

Anyone make it onto the googlegroup yet? Any activity?

tfincham86 wrote:
sfmatt85 wrote:
tfincham86 wrote:
So who here is planning on heading up to AA for GBR?

I'm definitely going so I think I'm going to book my travel and hotel soon.

I'm going to do my best to make it for GBR.

Any other San Francisco admits? If so, we should meet up for a drink and celebrate!

Manager
Status: I ain't here
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Posts: 148
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14 Jan 2012, 00:36
mumbai247 wrote:
Guys in Mumbai, wanna catch up sometime??? I think a celebration is due before the realities of impending debt spoils the mood.

Post the hype and excitement, gloom has quickly dawned on me. I don't know many people from Mumbai admitted to Ross. Seems like people are scattered all around in India.

And yes, I did get the info about the unavailability of cosigner loans from the admissions staff who mailed me earlier with the good news. But no info about any other alternate being worked on.
So much as I would love to celebrate this, the thought of an education costing 150K USD is making me doubt about my immediate 5 years post-MBA life!

Other macro factors that I am considering are:

1. Election in US next year and it's possible implications on recruitment of International students.
2. European crisis is yet to be resolved and that is going to stay like that for sometime now.

Not to sound gloomy, but my years of work experience is making me to err on the side of caution!
_________________

I don't know if getting everything I want would make me happy, but the opposite is not working at all!!

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14 Jan 2012, 04:33
neosumit wrote:

And yes, I did get the info about the unavailability of cosigner loans from the admissions staff who mailed me earlier with the good news. But no info about any other alternate being worked on.
So much as I would love to celebrate this, the thought of an education costing 150K USD is making me doubt about my immediate 5 years post-MBA life!

I do not like the fact that all the jubilation has come to a rather abrupt and premature end. I am an international admit from India and I cannot think of any US citizen who would cosign a loan with me. Just looked at the HSBC option too but it seems way too expensive. http://www.hsbc.co.in/1/2/personal/loan ... ional-loan

Let us keep this thread posted on any progress on arranging finances for intl students.
Senior Manager
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14 Jan 2012, 05:55
thundering wrote:

I'll be there at GBR. Will probably be booking my hotel and travel soon too.

Anyone make it onto the googlegroup yet? Any activity?

I submitted my request to join the google group yesterday, but I am still pending.

Where is everyone planning on staying for GBR?
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15 Jan 2012, 05:07
jessenchester wrote:
neosumit wrote:

And yes, I did get the info about the unavailability of cosigner loans from the admissions staff who mailed me earlier with the good news. But no info about any other alternate being worked on.
So much as I would love to celebrate this, the thought of an education costing 150K USD is making me doubt about my immediate 5 years post-MBA life!

I do not like the fact that all the jubilation has come to a rather abrupt and premature end. I am an international admit from India and I cannot think of any US citizen who would cosign a loan with me. Just looked at the HSBC option too but it seems way too expensive. http://www.hsbc.co.in/1/2/personal/loan ... ional-loan

Let us keep this thread posted on any progress on arranging finances for intl students.

Hi Guys,

Admits from India can join this google group in order to discuss the financial issues and hopefully come up with a solution.
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16 Jan 2012, 19:33
Johnson has launched a loan program for international students in association with Quorum Federal Credit Union. Wonder if ROs will come up with something similar. Only disturbing fact is the email states that "Please note Johnson does not allow US student loans to be used on a declaration of finances form. You may use multiple private sponsors (domestic or international) on the Declaration of Finance form. Federal immigration regulations require that all international students provide evidence of adequate funds to meet the financial obligations of enrollment at a U.S. university. US student loans may be used to finance your education once this requirement has been met and your F-1 visa has been issued."

@jessenchester: Have you already decided between Ross & Johnson. I was set on Ross until this development.

jessenchester wrote:
neosumit wrote:

And yes, I did get the info about the unavailability of cosigner loans from the admissions staff who mailed me earlier with the good news. But no info about any other alternate being worked on.
So much as I would love to celebrate this, the thought of an education costing 150K USD is making me doubt about my immediate 5 years post-MBA life!

I do not like the fact that all the jubilation has come to a rather abrupt and premature end. I am an international admit from India and I cannot think of any US citizen who would cosign a loan with me. Just looked at the HSBC option too but it seems way too expensive. http://www.hsbc.co.in/1/2/personal/loan ... ional-loan

Let us keep this thread posted on any progress on arranging finances for intl students.
Manager
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16 Jan 2012, 22:41
Mumbai247,

I think Johnson is much better when it comes to what you will end up paying as loan amount.
However just wait till Ross officially declares where it stands. My own feeling is that they may as well be working on something and announce once they
get to the closure of the deal. Just that I am always optimistic but there are good 3 months before R1 admits (for whom Ross is the best school)
reject the offer from Ross and go somewhere else.
_________________

I don't know if getting everything I want would make me happy, but the opposite is not working at all!!

Manager
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17 Jan 2012, 00:09
neosumit wrote:
Mumbai247,

I think Johnson is much better when it comes to what you will end up paying as loan amount.
However just wait till Ross officially declares where it stands. My own feeling is that they may as well be working on something and announce once they
get to the closure of the deal. Just that I am always optimistic but there are good 3 months before R1 admits (for whom Ross is the best school)
reject the offer from Ross and go somewhere else.

I agree. But my only concern is that the Johnson deposit is due 31-Jan-12. So, if Ross doesnot make an announcement soon, I will face a serious dilema.
Manager
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17 Jan 2012, 00:11
mumbai247 wrote:
neosumit wrote:
Mumbai247,

I think Johnson is much better when it comes to what you will end up paying as loan amount.
However just wait till Ross officially declares where it stands. My own feeling is that they may as well be working on something and announce once they
get to the closure of the deal. Just that I am always optimistic but there are good 3 months before R1 admits (for whom Ross is the best school)
reject the offer from Ross and go somewhere else.

I agree. But my only concern is that the Johnson deposit is due 31-Jan-12. So, if Ross doesnot make an announcement soon, I will face a serious dilema.

How much is the risk in $?? Even I have to deposit$1500 to Olin by 1st Feb even though I have a full scholarship.
They may apply it to the inaugural week program ('Go Olin') and other medical plan etc.
But I think I will have to pay that money and take the risk.
_________________

I don't know if getting everything I want would make me happy, but the opposite is not working at all!!

Re: Admitted to Michigan(Ross) Class of 2014   [#permalink] 17 Jan 2012, 00:11

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