KRoll background check

Given the fact that most B-school graudates are able to get into a decent job after graduation and the fact that student loan payments dont start until after 6 months post-graduation, I really dont see how a credit score is relevant. Also, international students with bad credit will then get away with it, right? So, how can an admission be rescinded based on credit score.

I agree, it would be strange to be rejected after they check your credit, but the debt to income ratio is a legitimate concern--despite the deferral of your student loan payments until after you graduate. Some people have mortgages, car payments, credit card debt, even college loans to pay off--all at once! How are they going to pay for that when they are going to school full-time, especially with no savings? It would be very difficult to take out a student loan that covers all of that, given the liquidity and credit crises that the market is experiencing--just look at Sallie Mae. Just like there are a few cases of people who blatantly lie on their app and schools rescine their offer as a result; there is probably few borrowers who have atrocious credit to the point that schools must rescind their offer. In the end, I bet schools will try everything to make the financial packages work, as opposed to the fraudulent applicants who are kicked to the curb.

I dont think there is any reason to worry about this Kroll stuff
they just want to check whether you are what you say are
did you do thejobs you claimed? did you get approx the same salaries you put in your forms? are your recommenders genuine? stuff like this... i'm sure they wouldnt be counting pennies

I was always curious about the guy above who asked about the bench warrant. I dont have one, but I was always wonder what the deal is with the disclosure of that kinda stuff. Will admitting it and writing it on the app put you in a better position? Will they deny you based on that stuff? (Assuming its a misdemeanor, like that guys bench warrant or something else minor)

Prior to graduating from undergrad in Dec '05, I spent a semester abroad. Five to six months after I graduated, I worked at my parents' business. I secured a job that was supposed to start May '06, so instead of bumming around or traveling, I decided to help run my family business, and in return my parents helped pay off my expenses I incurred abroad, school loans and a down payment on a car. Long story short, I was never on their payroll, but there's no doubt I worked for them full time. My question is, would I have to explain this prior to submitting my information with Kroll?

I would go one of two ways, 1) do nothing. Your parents will no doubt verify that you worked for them. If you did not put that you had a salary working for your parents, then there is nothing to worry about with not being on the payroll. If you put that you earned the amount that they helped pay off, then your parents might have to verify that. Kroll looks for blatant and gross deception, so as long as you did not say that you earned $100k, when you parents only paid off $50k, there is nothing to worry about. The other option: 2) is to explain the situation to the school to which you were accepted. Once again, if there was no lying, then there will not be a problem. The school will appreciate the clarification, and it will speed up the Kroll check.

Does the procedure works the same for international students? Especially from developing countries?

thanks djhouse. it makes sense.
in any case, it wasn't even anywhere near 50k.
thanks!

You don't have to report this, it's not like Kroll is some omnipotent God that knows everything you have ever done. They verify past employment because you tell them who you worked for in your application and resume. They call the companies you listed. There is no DB out there that contains all of your past employment data or anything like that. So if you don't want to mention it, then don't.

BTW, my kroll check (for Haas) went through in ONE day. I faxed it in Wednesday after hours, and I got an email this morning saying it's complete! I didn't even tell them my company's phone number or include a W-2 form... not sure what they checked. My boss was on travel last week (and they definitely did not have his cell number).

Very strange... not that I'm complaining

From my background check by kroll for employment, I don't think it's too much of an issue. It's just administrative stuff on their part. I am actually surprised that they also do it for MBA admits (and with credit check as well!!!)

does anyone know if ucla/duke do background checks?

Has every school moved to doing Kroll or some kind of background check? I think Wharton started the trend and it was followed by CBS. I see more and more schools doing it. Is it a Northeast thing?

Are there any schools that don't do a background check?

I believe the trend started 5 years ago or so, when Haas and Wharton identified some applicants who had lied on their applications. I'm trying to recall off the top of my head, but there was an article in BW not too long ago. I think the problem was that some people lied on their applications or resumes about work experience; people who had been laid off during the tech downturn fudged their histories. I think a Haas representative was quoted as saying those students would have been admitted anyways because the school was well aware that a lot of people were affected by layoffs, but their admits were rescinded because of the lies. It stated with just one applicant, but when they discovered the problem they went back and identified a bunch more; something like 5% of admits had discrepancies. Since then, I think most top MBA schools now conduct background checks, either internally or through an outside source.

I have heard similar stories about job recruiting as well; where people had offers rescinded because they lied or failed to disclose things that would have been alright if properly explained. This is especially true in regulated industries like securities and law.

Certain background items can be explained, but lying (and getting discovered of course) is death.

Ughhh. I have a friend who was "let go" because he incorrectly added three months to a previous experience. It didn't materially affect his resume/application, but that didn't matter.

I'm assuming background checks are done after you give your deposit? Does that mean they keep your deposit should you fail the background check?

oh yeah...they also check for police records. if you have some speeding tickets and stuff like that you should be fine but anything more serious and it probably could be trouble.

i also think it serves fairly well as a deterrent. if the prospective applicant knows that there is a background check he/she will be less likely to lie or embellish.

anyway, good luck everyone with your background checks.

RVD.

I didnt pass the cfa level one exam the 1st time. I'm planning on giving it in december. if I dont mention failing once, ut mention giving the exam, does that matter?

As well do the schools that perform Kroll; checks do it on all students or a few randomly.