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jb32
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MBA Grants 05 Jun 2008, 19:29
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Can anyone provide some information about need based grants for MBA programs? Does anyone have any information regarding the cutoffs as far as income and net worth are concerned? What is the average grant size? I've looked at several schools websites and many schools state the average debt for graduating students is around $40,000 to $50,000. I know my debt will be much higher. Is this a consideration for the financial aid office?
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MBA Grants 06 Jun 2008, 03:54
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jb32
Can anyone provide some information about need based grants for MBA programs? Does anyone have any information regarding the cutoffs as far as income and net worth are concerned? What is the average grant size? I've looked at several schools websites and many schools state the average debt for graduating students is around $40,000 to $50,000. I know my debt will be much higher. Is this a consideration for the financial aid office?
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40 to 50k?? I'm extremely surprised. I'm looking at 150 - 160k debt for sure (I have to borrow almost the full amount). How do these people manage to have such a low amount of debt? I can't imagine that everybody has 100k in their savings account.
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bherronp
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MBA Grants 06 Jun 2008, 08:40
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jb32
Can anyone provide some information about need based grants for MBA programs? Does anyone have any information regarding the cutoffs as far as income and net worth are concerned? What is the average grant size? I've looked at several schools websites and many schools state the average debt for graduating students is around $40,000 to $50,000. I know my debt will be much higher. Is this a consideration for the financial aid office?

40 to 50k?? I'm extremely surprised. I'm looking at 150 - 160k debt for sure (I have to borrow almost the full amount). How do these people manage to have such a low amount of debt? I can't imagine that everybody has 100k in their savings account.
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I'm not sure. However, when I was at GBR the Ross finaid office said the average graduating debt is 62k. My wife will (hopefully) be covering our living expenses and we have a good amount of cash saved, but I am still look at 60-80k. I am not sure how the majority of students will have less debt than I will.

Anyway, as far as grants go, its tough finding them. It is easier if you are from an underrepresented group. As one financial aid office employee bluntly (and accurately) told me, "they're tough to find. No one feels sorry for MBA students."