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Financing Your MBA

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Current Student
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Joined: 22 Aug 2015
Posts: 24

Kudos [?]: 5 [0], given: 27

Location: United States
Concentration: Finance, General Management
GMAT 1: 640 Q46 V34
GPA: 3.76
WE: Asset Management (Investment Banking)
Re: Financing Your MBA [#permalink]

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New post 21 Jan 2016, 12:35
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?

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Current Student
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Joined: 30 Jan 2010
Posts: 301

Kudos [?]: 141 [0], given: 73

Location: United States
Concentration: Strategy, Economics
Schools: Chicago Booth - Class of 2015
WE: Project Management (Real Estate)
Re: Financing Your MBA [#permalink]

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New post 21 Jan 2016, 13:25
No

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New post 23 Jan 2016, 05:53
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?

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New post 17 Feb 2016, 16:31
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.

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Current Student
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Joined: 30 Jan 2010
Posts: 301

Kudos [?]: 141 [0], given: 73

Location: United States
Concentration: Strategy, Economics
Schools: Chicago Booth - Class of 2015
WE: Project Management (Real Estate)
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New post 17 Feb 2016, 18:14
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.

Kudos [?]: 141 [0], given: 73

Current Student
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Joined: 17 Feb 2016
Posts: 29

Kudos [?]: 12 [0], given: 2

Concentration: Finance
GMAT 1: 740 Q48 V42
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New post 20 Feb 2016, 10:22
Does anyone know how undergraduate student loans factor into the mix? Does having significant undergrad debt better your chances for scholarships? grants? loans? etc?

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Current Student
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Status: 1st year @ Goizueta
Joined: 05 Nov 2015
Posts: 73

Kudos [?]: 21 [0], given: 15

Location: United States (PA)
Concentration: Strategy, General Management
GMAT 1: 690 Q44 V40
GPA: 3.2
WE: Business Development (Mutual Funds and Brokerage)
Re: Financing Your MBA [#permalink]

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New post 22 Feb 2016, 08:44
caw wrote:
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!

Kudos [?]: 21 [0], given: 15

Current Student
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Joined: 30 Jan 2010
Posts: 301

Kudos [?]: 141 [0], given: 73

Location: United States
Concentration: Strategy, Economics
Schools: Chicago Booth - Class of 2015
WE: Project Management (Real Estate)
Re: Financing Your MBA [#permalink]

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New post 22 Feb 2016, 09:58
Chase18 wrote:
caw wrote:

Most scholarships are strictly merit-based, !


This really varies by school. Booth is 100% merit. Stern (if I remember) is 100% need. Other schools are a mix.

That said, I'm not sure that outstanding debt would necessarily factor into the need calculation (though I may be wrong).

Kudos [?]: 141 [0], given: 73

Current Student
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Status: 1st year @ Goizueta
Joined: 05 Nov 2015
Posts: 73

Kudos [?]: 21 [0], given: 15

Location: United States (PA)
Concentration: Strategy, General Management
GMAT 1: 690 Q44 V40
GPA: 3.2
WE: Business Development (Mutual Funds and Brokerage)
Re: Financing Your MBA [#permalink]

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New post 22 Feb 2016, 15:48
brandon432 wrote:
Chase18 wrote:
caw wrote:

Most scholarships are strictly merit-based, !


This really varies by school. Booth is 100% merit. Stern (if I remember) is 100% need. Other schools are a mix.

That said, I'm not sure that outstanding debt would necessarily factor into the need calculation (though I may be wrong).


Most of Stern's scholarships are merit-based and not 100% need: http://www.stern.nyu.edu/programs-admis ... holarships

This has been the case with each top-tier school I have researched. Not that they don't have any need-based scholarships, but that most are merit-based. I have not researched in-depth every MBA program, and do not claim to be an expert, but this is my understanding and is consistent with my experience.

Kudos [?]: 21 [0], given: 15

Current Student
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Joined: 22 Nov 2015
Posts: 1

Kudos [?]: 5 [0], given: 1

Location: United States
GMAT 1: 740 Q47 V46
GPA: 3.8
WE: Marketing (Education)
Re: Financing Your MBA [#permalink]

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New post 02 Mar 2016, 23:41
Hi Folks,

I'm looking to borrow beyond the cost of attendance, as I'll have three dependents. Many schools will add qualified day care into the COA for children under a certain age, but they're elementary age so my concerns are housing and food. Does anyone have experience asking their school to approve a private loan for this sort of thing?

Thank you for any insights!

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Manager
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Joined: 28 Oct 2015
Posts: 78

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Location: United States
GMAT 1: 690 Q37 V48
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GPA: 3.3
Re: Financing Your MBA [#permalink]

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New post 09 Mar 2016, 21:54
Stanford and HBS only offer need-based schollys. Tuck offers a combo of need and merit based schollys

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Current Student
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GMAT 1: 740 Q49 V42
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New post 23 Mar 2016, 10:49
Does anyone know how Prodigy Finance makes loan decisions? For Booth, they may lend up to 80% of the total cost of attendance, but I've heard of stories where they provided financing only for 50% or 75% of the total cost - less than the maximum amount stated in their web-site.

Kudos [?]: 3 [0], given: 5

Current Student
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Joined: 07 Jul 2015
Posts: 21

Kudos [?]: 5 [0], given: 1

Location: Uzbekistan
Concentration: Finance, General Management
GMAT 1: 650 Q48 V40
GRE 1: 314 Q158 V156
GPA: 3.62
WE: Analyst (Commercial Banking)
Re: Financing Your MBA [#permalink]

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New post 23 Mar 2016, 21:01
nurik wrote:
Does anyone know how Prodigy Finance makes loan decisions? For Booth, they may lend up to 80% of the total cost of attendance, but I've heard of stories where they provided financing only for 50% or 75% of the total cost - less than the maximum amount stated in their web-site.


Congrat with Booth matriculation! Did you get financing from Prodigy???

Kudos [?]: 5 [0], given: 1

Current Student
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Joined: 10 Aug 2015
Posts: 31

Kudos [?]: 3 [0], given: 5

GMAT 1: 740 Q49 V42
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New post 25 Mar 2016, 03:49
AliG wrote:
nurik wrote:
Does anyone know how Prodigy Finance makes loan decisions? For Booth, they may lend up to 80% of the total cost of attendance, but I've heard of stories where they provided financing only for 50% or 75% of the total cost - less than the maximum amount stated in their web-site.


Congrat with Booth matriculation! Did you get financing from Prodigy???

Thanks! No, haven't applied yet. Still researching for the options I have.
But funding seems to be a challenge for students from the emerging markets.

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Current Student
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Joined: 14 Dec 2015
Posts: 6

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Location: India
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New post 26 Apr 2016, 10:39
Hi,

Does anybody know if Prodigy Finance is in operation or has the company shut down?

I emailed them 4 days ago, raised a support ticket and messaged them on their Skype account, but nobody has responded.

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Joined: 20 Mar 2014
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Re: Financing Your MBA [#permalink]

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New post 26 Apr 2016, 10:44
bombaypundit wrote:
Hi,

Does anybody know if Prodigy Finance is in operation or has the company shut down?

I emailed them 4 days ago, raised a support ticket and messaged them on their Skype account, but nobody has responded.


No, they are very much still in existence. Why would they shut down their work? This is a busy time of the year for them as R1/R2 admits are looking to get financed. Wait for some more time or try to give them a call.
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New post 30 Jun 2016, 11:09
Has anyone taken loan from Mpower financing. They do not require cosigner or collateral for international students enrolled in US colleges
https://www.mpowerfinancing.com/
I have to decide between Prodigy and Mpower, so trying to identify anyone who has already secured a loan with them to get a review of their loan product.

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New post 30 Jun 2016, 12:40
Good idea to always have this in mind...
I finished mine and now I'm starting to handle the finances of spending two years without any relevant income :(

But at the end, everything works out! :)
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Financing Your MBA [#permalink]

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New post 29 Jul 2016, 05:35
Hi everyone,

I want to make a strategy for financing my MBA (didn't apply yet).
Are schools, particularly M7, that offer scholarship if employer pays tuition 100%? I'm asking because I want to know how much to push for my employer to pay for tuition (it comes with strings attached)

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New post 16 Sep 2016, 15:54
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Can someone tel me whether I will get to know about the financing during admission or after admission? Since funds have to be acquired.

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Re: Financing Your MBA   [#permalink] 16 Sep 2016, 15:54

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