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Financing options for GMAT - need guidance

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Joined: 17 Apr 2017
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Financing options for GMAT - need guidance [#permalink]

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New post 21 Oct 2017, 01:28
Hi experts,

I just finished GMAT with a 720. I'm based out of India and I'm interested in applying to the Ivy league schools in US. The major concern here is the high costs associated with it and it would be great if someone could guide me through the various financing options available including possibilities of scholarships.

Would really appreciate responses from experts as well as fellow club members who've been through the same situation.

Thanks in advance!

Best,
Richa

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Re: Financing options for GMAT - need guidance [#permalink]

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New post 21 Oct 2017, 23:10
Richak91 wrote:
Hi experts,

I just finished GMAT with a 720. I'm based out of India and I'm interested in applying to the Ivy league schools in US. The major concern here is the high costs associated with it and it would be great if someone could guide me through the various financing options available including possibilities of scholarships.

Would really appreciate responses from experts as well as fellow club members who've been through the same situation.

Thanks in advance!

Best,
Richa


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Re: Financing options for GMAT - need guidance [#permalink]

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New post 25 Oct 2017, 10:20
There are various ways to pay for your graduate business school education but for domestic students the process is a bit more straightforward and for international student things can get more complicated. Many students will utilize loans as one of the primary forms of payments, others will pay out of pocket or enjoy the benefits of employee sponsorship. One of the most coveted forms of paying for your business school education is the scholarship. The scholarship is so highly coveted because it largely comes with no financial commitment attached.

Now these lucrative scholarships do not come easy, especially for international students. Overall free money is difficult to come by but for international students there are a few complicating factors. The key challenge for international students here is the origin of the scholarship money. The scholarships usually come from domestic donors and for this reason the money is largely earmarked for domestic students. This leaves very little available money for international students. So make sure you use this information to target scholarships that are also open to or specifically target international students.

Keep in mind if you are applying from an overrepresented group this process may be even more competitive for you. With so many students applying for so little available money the likelihood of securing a scholarship can be daunting. This fact makes it even more important to put your best foot forward in the application process, of course for admission purposes but also for the limited available money. Candidates with top notch profiles will obviously stand out in this phase of the process as many scholarships are administered based on career potential and available scores and grades.

Do not limit your scholarship search simply through those provided by your school. Publicly available scholarships are certainly out there and if your profile or career trajectory align with the requirements of the organization you may be “in the money.”

The best advice I can give here is to try and get into the best and most reputed school possible as this will afford you the best career options and highest future income level, scholarship or not. Know the realities of the scholarship search and the unique challenges for international students and set yourself up for success in securing financial support for your education.
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Re: Financing options for GMAT - need guidance   [#permalink] 25 Oct 2017, 10:20
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