Last visit was: 19 Nov 2025, 14:55 It is currently 19 Nov 2025, 14:55
Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Close
Request Expert Reply
Confirm Cancel
User avatar
Narenn
User avatar
Major Poster
Joined: 22 Feb 2012
Last visit: 19 Nov 2025
Posts: 9,170
Own Kudos:
Given Kudos: 4,651
Affiliations: GMAT Club
Test: Test
Products:
Expert
Expert reply
Posts: 9,170
Kudos: 11,074
Kudos
Add Kudos
Bookmarks
Bookmark this Post
avatar
doneil13
Joined: 07 Jul 2015
Last visit: 04 Jan 2017
Posts: 9
Given Kudos: 2
GMAT 1: 730 Q49 V40
GPA: 3.98
Products:
GMAT 1: 730 Q49 V40
Posts: 9
Kudos: 0
Kudos
Add Kudos
Bookmarks
Bookmark this Post
avatar
brandon432
Joined: 30 Jan 2010
Last visit: 12 Jan 2020
Posts: 301
Own Kudos:
163
 [1]
Given Kudos: 73
Location: United States
Concentration: Strategy, Economics
Schools: Chicago Booth - Class of 2015
WE:Project Management (Real Estate)
Schools: Chicago Booth - Class of 2015
Posts: 301
Kudos: 163
 [1]
1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
avatar
premdayalprem
Joined: 09 Jul 2015
Last visit: 09 Jul 2015
Posts: 2
Own Kudos:
Status:working
Location: India
Posts: 2
Kudos: 5
Kudos
Add Kudos
Bookmarks
Bookmark this Post
thanks for the info
avatar
ca662
Joined: 29 Jun 2015
Last visit: 06 Aug 2015
Posts: 80
Own Kudos:
22
 [1]
Posts: 80
Kudos: 22
 [1]
1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Hi guys,

One option is to get a regular student loan and then refinance it with companies that work specifically with MBA's such as CommonBond and Sofi.

As far as I know, they are both great and offer very good rates for MBA loan refinancing. It might be a good idea to talk to them b4. I'm not sure if you can get a loan directly from them though... I believe they only refinance, but find out.

Hope this helps.

On another note, you guys should check out a site called pymetrics. They are a neuroscience game-based career assessment platform that matches you with industries, companies and ultimately real internship and job opportunities. I found my summer internship through them and thought they were awesome. Wish I had heard about them b4 entering b-school.

https://bit.ly/1JxEviS

Good luck!
avatar
Kain
Joined: 23 Jun 2015
Last visit: 09 Sep 2015
Posts: 7
Own Kudos:
Posts: 7
Kudos: 5
Kudos
Add Kudos
Bookmarks
Bookmark this Post
could anyone mention suitable scholarship options for non-US people studying in the US? Thx a lot!
avatar
Kain
Joined: 23 Jun 2015
Last visit: 09 Sep 2015
Posts: 7
Own Kudos:
Posts: 7
Kudos: 5
Kudos
Add Kudos
Bookmarks
Bookmark this Post
I hope it has not mentioned. If yes, I apologoize and maybe you could refer me to that post. thx!
avatar
7865
Joined: 18 Nov 2015
Last visit: 01 Sep 2018
Posts: 9
Posts: 9
Kudos: 0
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Graduate PLUS Loan is a loan limited to graduate students. While it has terms similar to and takes its name from the Federal Parent Loan for Undergraduate Students (PLUS).
avatar
barcelonafan
Joined: 22 Feb 2012
Last visit: 24 Apr 2016
Posts: 41
Own Kudos:
Location: United States
Concentration: General Management, Economics
GMAT 1: 750 Q49 V44
GPA: 3.95
WE:Consulting (Retail: E-commerce)
Kudos
Add Kudos
Bookmarks
Bookmark this Post
So I will be funding my MBA through a combination of loans and parental support, and have a question around the best way to manage this.

My understanding is that if my parents pay directly to the school, that amount does not count towards the $14,000 IRS "gift exemption". I also see that this exception only applies to tuition, not living expenses. Is there a way to ensure that the amount that they pay directly to the school goes towards the tuition and that the loans I take out cover the living expenses?

Basically, if tuition is $65,000 and total Cost of Attendance (including living expenses) is $95,000, can I have my parents pay the $65,000 specifically for tuition and take out $30,000 in loans specifically for living expenses, without counting any $ towards the "gift exemption"?
avatar
wharton2018
Joined: 21 Dec 2015
Last visit: 18 May 2016
Posts: 7
Posts: 7
Kudos: 0
Kudos
Add Kudos
Bookmarks
Bookmark this Post
barcelonafan
So I will be funding my MBA through a combination of loans and parental support, and have a question around the best way to manage this.

My understanding is that if my parents pay directly to the school, that amount does not count towards the $14,000 IRS "gift exemption". I also see that this exception only applies to tuition, not living expenses. Is there a way to ensure that the amount that they pay directly to the school goes towards the tuition and that the loans I take out cover the living expenses?

Basically, if tuition is $65,000 and total Cost of Attendance (including living expenses) is $95,000, can I have my parents pay the $65,000 specifically for tuition and take out $30,000 in loans specifically for living expenses, without counting any $ towards the "gift exemption"?

I'm curious to know as well!
User avatar
Chase18
Joined: 05 Nov 2015
Last visit: 02 Dec 2016
Posts: 73
Own Kudos:
Given Kudos: 15
Status:1st year @ Goizueta
Location: United States (PA)
Concentration: Strategy, General Management
GMAT 1: 690 Q44 V40
GPA: 3.2
WE:Business Development (Mutual Funds and Brokerage)
Kudos
Add Kudos
Bookmarks
Bookmark this Post
barcelonafan
So I will be funding my MBA through a combination of loans and parental support, and have a question around the best way to manage this.

My understanding is that if my parents pay directly to the school, that amount does not count towards the $14,000 IRS "gift exemption". I also see that this exception only applies to tuition, not living expenses. Is there a way to ensure that the amount that they pay directly to the school goes towards the tuition and that the loans I take out cover the living expenses?

Basically, if tuition is $65,000 and total Cost of Attendance (including living expenses) is $95,000, can I have my parents pay the $65,000 specifically for tuition and take out $30,000 in loans specifically for living expenses, without counting any $ towards the "gift exemption"?

Although these message boards are extremely helpful, I would suggest that you consult the financial aid office of the school that you decide to attend and possibly a licensed tax professional.
User avatar
jessepinkman
User avatar
Which School to Choose Forum Moderator
Joined: 26 Mar 2009
Last visit: 25 Dec 2023
Posts: 315
Own Kudos:
95
 [1]
Given Kudos: 56
Location: United States
Concentration: Entrepreneurship, Finance
GMAT 1: 740 Q47 V45
GPA: 3.75
GMAT 1: 740 Q47 V45
Posts: 315
Kudos: 95
 [1]
1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Hey guys, if you're looking at some of the newer options like SoFi/CommonBond, a friend of mine at Booth wrote a great blog post with these options that's pretty helpful to get started - https://medium.com/@lexzhao/paying-for- ... .an0yyt28t
User avatar
jessepinkman
User avatar
Which School to Choose Forum Moderator
Joined: 26 Mar 2009
Last visit: 25 Dec 2023
Posts: 315
Own Kudos:
95
 [1]
Given Kudos: 56
Location: United States
Concentration: Entrepreneurship, Finance
GMAT 1: 740 Q47 V45
GPA: 3.75
GMAT 1: 740 Q47 V45
Posts: 315
Kudos: 95
 [1]
1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Hey guys, if you're looking at some of the newer options like SoFi/CommonBond, a friend of mine at Booth wrote a great blog post with these options that's pretty helpful to get started - https://medium.com/@lexzhao/paying-for- ... .an0yyt28t
avatar
MBATeaCup
Joined: 22 Aug 2015
Last visit: 21 Apr 2016
Posts: 23
Own Kudos:
Given Kudos: 27
Location: United States
Concentration: Finance, General Management
GMAT 1: 640 Q46 V34
GPA: 3.76
WE:Asset Management (Finance: Investment Banking)
Kudos
Add Kudos
Bookmarks
Bookmark this Post
OK this might sound weird but I heard some ideas about having better chance of acceptance if you note down somewhere in the application that you can pay fully without any Aid? Do you guys think this is true?
avatar
brandon432
Joined: 30 Jan 2010
Last visit: 12 Jan 2020
Posts: 301
Own Kudos:
Given Kudos: 73
Location: United States
Concentration: Strategy, Economics
Schools: Chicago Booth - Class of 2015
WE:Project Management (Real Estate)
Schools: Chicago Booth - Class of 2015
Posts: 301
Kudos: 163
Kudos
Add Kudos
Bookmarks
Bookmark this Post
No
Kudos
Add Kudos
Bookmarks
Bookmark this Post
I've still been researching loans, etc... but still curious how students pay for normal day expenses? I make about 85k a year and know it'll be tough once I go to school and no longer have that salary (yes I have money saved up but not enough to live off of for a year) but for bills, food, etc., is it done through loans and if so, what type?
avatar
Knopfler
Joined: 25 Sep 2013
Last visit: 17 Feb 2016
Posts: 6
Own Kudos:
Posts: 6
Kudos: 1
Kudos
Add Kudos
Bookmarks
Bookmark this Post
To be honest, your access to loans and scholarships depends a lot on what school you get into. Top 5 schools tend to have larger resources to be tapped of course.
avatar
brandon432
Joined: 30 Jan 2010
Last visit: 12 Jan 2020
Posts: 301
Own Kudos:
Given Kudos: 73
Location: United States
Concentration: Strategy, Economics
Schools: Chicago Booth - Class of 2015
WE:Project Management (Real Estate)
Schools: Chicago Booth - Class of 2015
Posts: 301
Kudos: 163
Kudos
Add Kudos
Bookmarks
Bookmark this Post
For scholarships, perhaps. (Though I'm not sure there is a universally recognized top 5). Federal loans are universally available to all US citizens. Private loans are generally available to all creditworthy students.
avatar
caw
Joined: 17 Feb 2016
Last visit: 18 May 2016
Posts: 29
Own Kudos:
Given Kudos: 2
Concentration: Finance
GMAT 1: 740 Q48 V42
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Does anyone know how undergraduate student loans factor into the mix? Does having significant undergrad debt better your chances for scholarships? grants? loans? etc?
User avatar
Chase18
Joined: 05 Nov 2015
Last visit: 02 Dec 2016
Posts: 73
Own Kudos:
Given Kudos: 15
Status:1st year @ Goizueta
Location: United States (PA)
Concentration: Strategy, General Management
GMAT 1: 690 Q44 V40
GPA: 3.2
WE:Business Development (Mutual Funds and Brokerage)
Kudos
Add Kudos
Bookmarks
Bookmark this Post
caw
Does anyone know how undergraduate student loans factor into the mix? Does having significant undergrad debt better your chances for scholarships? grants? loans? etc?

Most scholarships are strictly merit-based, so undergraduate student loans would not be a factor. As far as I have seen, grants are rare for most MBA programs. For loans, undergraduate loans will not be taken into account for Stafford loans. Graduate PLUS loans and Private Student loans will take into account your credit history.

Hope this helps!
   1  ...  15   16   17   18   19