dtse86
mgg234
Small update....I got a decent scholarship through the financial aid departments (~12k or so per year) which made me feel much better about the debt - I didn't even know that was a possibility, so was a welcome surprise. Last day of work is Thursday, everything is coming up so quick!
Awesome deal on the scholarship! Any idea on how the scholarships are awarded? I'm going all in this year with a CBS ED application while working on Kellogg/Sloan/Stern/Johnson R1 apps. I heard from a friend that going ED was a bad idea because there's almost no incentive for them to give me scholarship money.
I already know that I'm a border applicant and that if I do get into CBS I'll take it, but the possible weight of $200k loans is making this whole business school decision very stressful!
For merit, they tell you on the phone when they call to accept you, or mail it to you shortly afterwards. Depends on the school, but in general ~30% of acceptances get some sort of merit-scholarship. Only a handful of school have need-based, but those that do, provide you with it after you fill out the FAFSA. Harvard and Stanford are outliers in that they do need-based only...but they also have huge endowments, so they are able to offer people generous packages.
The schools claim ED has no impact on scholarships, and I do know people from ED who did get scholarships....but, you're right, there is an incentive for them to give out less from ED, and business schools lie about this type of stuff all the time, so I think its a valid concern (especially when there is no way for us to audit them).
Also, Columbia has by far the worst financial aid of the M7, so they are the least likely to give you a scholarship (They are also the most expensive), so keep that in mind when applying. Although unethical, many people pay the $6000 deposit, and renege on ED to attend a different university, so thats certainly an option.