Congrats on making the decision. I am kind of in the same boat and I was feeling the same about the school prestige and all.
But having spoken to few alumnis and considering the economy and other factors, it certainly seems wise to make this kind of decision.
End of the day it is our ability that is going to take us ahead and two years post MBA, its that ability to get the foot in the door and make things work, which will count, whether we come from top 10 or top 20, which would not 'really' matter (ofcourse it does but as the work experience increases school repo may not be as useful, if you are not from an ivey).
slumdog1000000 wrote:
Jock4MBA wrote:
This scenario of funding secured for 1st year, but unsecured funding in 2nd year is very real among international students. Particularly students from developing countries who don't have US cosigner for loan. I posed the same Q to international students enrolled at BSchools and alumni, the gist of replies is that BSchools don't empathise with you, they make sympathetic noises, but won't come up with funding such as scholarship or hardship $. BSchools warn you in their small print that you need to secure funding and encourage you to do this at home. The rationale is that the hardship is self induced due to imprudent planning and predictable prior to your MBA. For BSchools, it is money talks. People drop out of MBAs when they can't pay year 2 tuition for this reason. Do not rely on BSchool administration to help you out of the pickle.
If your target BSchool doesn't have loan for internationals without US cosigner and you don't have sufficient funds, this BSchools is simply the wrong place for you due to its lack of commitment. Have you explained your situation to FinAid and ask them to come up with some $ to make funding work?
Good luck.
Yes, I have. I was told that my case was re-reviewed by the Admissions Committee but they were unable to offer me some $ to close the gap in my finances. Not a single cent. Naturally I was disappointed, but I am not going to let this setback stop me from achieving my dreams. While I don't deny that getting an MBA from a gd school will give me a headstart in recruiting, I am also aware that the brand can only help me open one door - the door to my first job ; it is certainly not the be-all and end-all. I am glad that I have on hand another offer from a lower ranked school, which definitely does not share the same prestige as the b-school that has denied me all forms of finaid. After some thinking, it makes no sense why I should put my future on the line just cos of the perceived prestige that I can get from the better school. I won't want to go to school worrying about my finances for Yr2 from day 1 of Yr 1, only to have to wake up to the harsh reality that I will soon have to abort my MBA journey even before it's completed. Thank you, Jock4MBA and slumdog millionaire.
You guys rock with those comments!
I hope other Internationals facing similar dilemmas will face this discussion illuminating and helpful. There is a thin line between being foolhardy and courageous - you are being courageous by turning down the offer from the better school and spending 101% of your time milking opportunities from the lower-ranked school, and being foolhardy by assuming that financing issues will work themselves out. Self delusion can only rob you of your dreams and bankrupt you!
Good luck to all Internationals (me included!) who are in the same boat.
Believe in yourself
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28 Apr 2012, 09:38
