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Funding Georgetown Full-time MBA education

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Location: India
GMAT 1: 700 Q50 V34
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WE: Information Technology (Consulting)
Funding Georgetown Full-time MBA education [#permalink]

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New post 21 Dec 2016, 02:11
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Hi All,
I have been admitted to georgetown full-time mba program but no scholarship has been mentioned in my admission letter. I feel great about receiving my admission letter but I now face the big question that is ' HOW TO FUND MBA EDUCATION'. I am an Indian so I wont be federally funded. If any one has tips on how i can avail benefits of external scholarships or other sources. I encourage even the students who might have applied to such opportunities to respond on this post.

Thanks in advance!!

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Re: Funding Georgetown Full-time MBA education [#permalink]

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New post 21 Dec 2016, 03:20
I am also in the same dilemma, There was no mention for scholarship in the offer letter so does that mean NO scholarship or do they send another email stating the scholarships?

As per website total cost would come around $164k, and with TRUMP and his views on H1B with interest rates like 9%+ in India loan is going to be a problem.

Any information on funding like part time work/external scholarship, etc would be beneficial

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Funding Georgetown Full-time MBA education [#permalink]

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New post 21 Dec 2016, 06:45
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AashnaG wrote:
Hi All,
I have been admitted to Georgetown full-time mba program but no scholarship has been mentioned in my admission letter. I feel great about receiving my admission letter but I now face the big question that is ' HOW TO FUND MBA EDUCATION'. I am an Indian so I wont be federally funded. If any one has tips on how i can avail benefits of external scholarships or other sources. I encourage even the students who might have applied to such opportunities to respond on this post.

Thanks in advance!!


Congratulations on getting the offer. :thumbup:

Funding MBA is a very important question. My best tip is to call Prodigy Finance in India. If not then let me know, I will ask the US in-charge for the details.
Reasons for me selecting prodigy,
1. interest rates are little better than from India.
2. My loan is pegged in US$, so I don't have to worry about any exchange rates or my yield going up or down.
3. I don't have to start repayment for 2 years.

Other options from India (rates I am quoting are the ones that were given to me when I was looking),
1. SBI, INR 30L max, @ 12.5%, no incubation period (i.e. you start paying interest immediately from the first month of your school, ~ INR 30K pm).
2. HDFC Credila, INR 60L - 90L max (depending on you and your guarantor) @ 13.75%, no incubation period, but you can negotiate hard with these people on every aspect of the loan. But interest rates were still v. high (Note: your interest rate will not go below SBI's rate in any case from any lender in India).
3. Other Private lenders. ~ INR 60L, v. high-interest rates, 14%+. I did not trust their reliability so didn't pursue it.

Other options in the US with a relative.
1. You can ask a relative to co-sign a loan for you from the US. The interest rates will be ~4%. But getting a co-sign for $100K+ can be a difficult task.

My recommendation is to start looking for options now and find out what best suits your needs.

I also started at MSB without a Scholarship. So I researched all options in advance so that they don't hinder me later. With Prodigy I got the loan at 8.32% during the incubation period and 9.6% after 2 years.

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WE: Information Technology (Consulting)
Re: Funding Georgetown Full-time MBA education [#permalink]

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New post 21 Dec 2016, 18:07
Alaukik wrote:
AashnaG wrote:
Hi All,
I have been admitted to Georgetown full-time mba program but no scholarship has been mentioned in my admission letter. I feel great about receiving my admission letter but I now face the big question that is ' HOW TO FUND MBA EDUCATION'. I am an Indian so I wont be federally funded. If any one has tips on how i can avail benefits of external scholarships or other sources. I encourage even the students who might have applied to such opportunities to respond on this post.

Thanks in advance!!


Congratulations on getting the offer.

Funding MBA is a very important question. My best tip is to call Prodigy Finance in India. If not then let me know, I will ask the US in-charge for the details.
Reasons for me selecting prodigy,
1. interest rates are little better than from India.
2. My loan is pegged in US$, so I don't have to worry about any exchange rates or my yield going up or down.
3. I don't have to start repayment for 2 years.

Other options from India (rates I am quoting are the ones that were given to me when I was looking),
1. SBI, INR 30L max, @ 12.5%, no incubation period (i.e. you start paying interest immediately from the first month of your school, ~ INR 30K pm).
2. HDFC Credila, INR 60L - 90L max (depending on you and your guarantor) @ 13.75%, no incubation period, but you can negotiate hard with these people on every aspect of the loan. But interest rates were still v. high (Note: your interest rate will not go below SBI's rate in any case from any lender in India).
3. Other Private lenders. ~ INR 60L, v. high-interest rates, 14%+. I did not trust their reliability so didn't pursue it.

Other options in the US with a relative.
1. You can ask a relative to co-sign a loan for you from the US. The interest rates will be ~4%. But getting a co-sign for $100K+ can be a difficult task.

My recommendation is to start looking for options now and find out what best suits your needs.

I also started at MSB without a Scholarship. So I researched all options in advance so that they don't hinder me later. With Prodigy I got the loan at 8.32% during the incubation period and 9.6% after 2 years.

Hi Alaukik...

Thanks for sharing the information with all of us.

I had tried contacting Prodigy Finance through their website but they have a loan value generator concept.... I was eligible only for around 50% funding...Can we get in touch with their representative and get the funding increased... ?

Can you help us out with any person from the Prodigy Team ?




Sent from my Nexus 6P using GMAT Club Forum mobile app

Kudos [?]: 7 [0], given: 0

Intern
Intern
avatar
Joined: 08 Sep 2015
Posts: 18

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

Location: India
GMAT 1: 700 Q50 V34
GPA: 3.96
WE: Information Technology (Consulting)
Re: Funding Georgetown Full-time MBA education [#permalink]

Show Tags

New post 22 Dec 2016, 08:01
Alaukik wrote:
AashnaG wrote:
Hi All,
I have been admitted to Georgetown full-time mba program but no scholarship has been mentioned in my admission letter. I feel great about receiving my admission letter but I now face the big question that is ' HOW TO FUND MBA EDUCATION'. I am an Indian so I wont be federally funded. If any one has tips on how i can avail benefits of external scholarships or other sources. I encourage even the students who might have applied to such opportunities to respond on this post.

Thanks in advance!!


Congratulations on getting the offer. :thumbup:

Funding MBA is a very important question. My best tip is to call Prodigy Finance in India. If not then let me know, I will ask the US in-charge for the details.
Reasons for me selecting prodigy,
1. interest rates are little better than from India.
2. My loan is pegged in US$, so I don't have to worry about any exchange rates or my yield going up or down.
3. I don't have to start repayment for 2 years.

Other options from India (rates I am quoting are the ones that were given to me when I was looking),
1. SBI, INR 30L max, @ 12.5%, no incubation period (i.e. you start paying interest immediately from the first month of your school, ~ INR 30K pm).
2. HDFC Credila, INR 60L - 90L max (depending on you and your guarantor) @ 13.75%, no incubation period, but you can negotiate hard with these people on every aspect of the loan. But interest rates were still v. high (Note: your interest rate will not go below SBI's rate in any case from any lender in India).
3. Other Private lenders. ~ INR 60L, v. high-interest rates, 14%+. I did not trust their reliability so didn't pursue it.

Other options in the US with a relative.
1. You can ask a relative to co-sign a loan for you from the US. The interest rates will be ~4%. But getting a co-sign for $100K+ can be a difficult task.

My recommendation is to start looking for options now and find out what best suits your needs.

I also started at MSB without a Scholarship. So I researched all options in advance so that they don't hinder me later. With Prodigy I got the loan at 8.32% during the incubation period and 9.6% after 2 years.



thank you so much Alaukik for the detailed options!

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Current Student
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Joined: 01 Aug 2014
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Location: India
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GMAT ToolKit User
Funding Georgetown Full-time MBA education [#permalink]

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New post 23 Dec 2016, 05:07
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AashnaG wrote:
Hi All,

Hi Alaukik...

Thanks for sharing the information with all of us.

I had tried contacting Prodigy Finance through their website but they have a loan value generator concept.... I was eligible only for around 50% funding...Can we get in touch with their representative and get the funding increased... ?

Can you help us out with any person from the Prodigy Team ?




Sent from my Nexus 6P using GMAT Club Forum mobile app


Prodigy allocates you funds by looking at three things,
1. how much cash and investment you can show
2. what is your future earnings potential + safety.
3. How many alumni are supporting us thru Prodigy.

I have heard as high as $90K loans from prodigy for Georgetown. While you cannot influence your future earnings now or # of alums, you can present the best case with cash and investment reports.

Also, I would take total estimates for the program with a grain of salt. Total estimates are average total a typical student will spend. Except for School, Insurance, and Global program Fees, every other expense depends on you.

If you want to reach out to prodigy directly, try calling UK office, Tel: +44 (0) 151 329 0145 (General/Applications)

I hope that helps.

Kudos [?]: 14 [1] , given: 46

Funding Georgetown Full-time MBA education   [#permalink] 23 Dec 2016, 05:07
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