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Negotiating MBA Scholarship Offer

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Negotiating MBA Scholarship Offer  [#permalink]

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New post 11 Mar 2017, 17:36
Hi!


I'm not sure if this is the right forum to ask this question but would appreciate any input.
I just finished a video chat with a current MBA student of the B-school that offered me a partial scholarship.

She told me that I could negotiate for a higher scholarship but my problem is I already accepted their offer and made the first deposit.

Would I still be able to negotiate for that higher scholarship or should I just proceed with the rest of the application and avoid looking rude?

Thank you in advance for any response! :)
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Negotiating MBA Scholarship Offer  [#permalink]

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New post 11 Mar 2017, 18:04
Welcome to GMAT Club.
Congrats on the offer and scholarship.

Schools rarely negotiate scholarships as money is usually pre-allocated and usually the only sweetener they throw in is a small fellowship or GA position. I am surprised the student mentioned you could. Perhaps you should ask her/him about how to approach this situation if this has been done.

It is not unheard of for a school to offer something slightly better (e.g. 60k instead of 50k but that's rare and you usually have to have another offer at hand).

I don't know how your position to negotiate would be without another offer in hand and already having paid the deposit. You probably don't want to bluff and say you have an offer (that would be lying and dishonest). The only other way I can think of is to say something has changed and hope the adcom would feel sorry enough to give you more money. In other words probably 5% get more money based on a very non scientific estimate. You are not the one who is missing out really. These opportunities are really for those 5% of us he situations.

Good luck!


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Re: Negotiating MBA Scholarship Offer  [#permalink]

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New post 12 Mar 2017, 22:19
Hi BB!

Thank you for the quick response.

The other student negotiated her the scholarship before she accepted the school's offer.

I'll try my luck but will have to take a different angle on it as you mentioned :)
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Re: Negotiating MBA Scholarship Offer  [#permalink]

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New post 15 Mar 2017, 18:38
On the same topic. What's the best way to negotiate anyways? Let's say before paying the deposit?
What all tips and tricks can we use?
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Re: Negotiating MBA Scholarship Offer  [#permalink]

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New post 15 Mar 2017, 18:51
Yes, once you accept and put down a deposit you lose leverage here and should probably just move forward without negotiating. Congrats on receiving an offer!
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Re: Negotiating MBA Scholarship Offer  [#permalink]

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New post 21 Mar 2017, 20:18
2
Rohit6 wrote:
On the same topic. What's the best way to negotiate anyways? Let's say before paying the deposit?
What all tips and tricks can we use?


Hey Rohit6 and luckymba:

If you want some specific advice about how to nicely negotiate your financial aid package, please read over what my business partner – Adam Hoff – wrote on the Amerasia Consulting blog.

5 Tips for Negotiating Your Offer of Admission — Amerasia Consulting Group



Today's blog post is about negotiating your offer of admission ... except that it's not.  Because "negotiation" is not what you do when it comes to securing more financial aid from a business school.  The term of art for what you are going to be doing is "asking."

Let us explain...


Source: 5 Tips for Negotiating Your Offer of Admission — Amerasia Consulting Group - <http://www.amerasiaconsulting.com/blog/2011/03/21/negotiating-the-offer>
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Negotiating MBA Scholarship Offer  [#permalink]

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New post 22 Mar 2017, 08:53
luckymba wrote:
Hi! I'm not sure if this is the right forum to ask this question but would appreciate any input.
I just finished a video chat with a current MBA student of the B-school that offered me a partial scholarship.

She told me that I could negotiate for a higher scholarship but my problem is I already accepted their offer and made the first deposit.

Would I still be able to negotiate for that higher scholarship or should I just proceed with the rest of the application and avoid looking rude?

Thank you in advance for any response! :)
bb wrote:
Welcome to GMAT Club.
Congrats on the offer and scholarship.

Schools rarely negotiate scholarships as money is usually pre-allocated and usually the only sweetener they throw in is a small fellowship or GA position. I am surprised the student mentioned you could. Perhaps you should ask her/him about how to approach this situation if this has been done.

It is not unheard of for a school to offer something slightly better (e.g. 60k instead of 50k but that's rare and you usually have to have another offer at hand).

I don't know how your position to negotiate would be without another offer in hand and already having paid the deposit. You probably don't want to bluff and say you have an offer (that would be lying and dishonest). The only other way I can think of is to say something has changed and hope the adcom would feel sorry enough to give you more money. In other words probably 5% get more money based on a very non scientific estimate. You are not the one who is missing out really. These opportunities are really for those 5% of us he situations.

Good luck!


My take on this topic is in line with the rest of the comments here. First you are NOT negotiating but simply asking a school if there might be any more they can do. You are in a better position here if you have NOT already paid your deposit AND if you have a better deal from a similarly ranked school. And then you have to be exceptionally NICE and polite about it- you explain your situation and your real needs and if you have it- the other offer that is so tempting... but then you explain you want to just see if you can find out if the school you want more can possibly match what you have elsewhere- and how that would make your financial situation better for x reason... As long as you are polite and don't treat the school like you think you deserve more or that you are playing schools against each other...just see if you have any wiggle room. I think situations like this are better done in a call- maybe use email to set up a time to talk. And be sure the first thing is how excited you are to attend this program... and then explain your situation... like another similar ranked school has offered this .... and you feel like you'd like to at least check to see if there is any flexibility there. Then you wait... and you are polite and gracious through the process... and who knows... something good might happen but as long as you are not aggressive or impolite about it, no harm should happen either! If you would like to walk through your messaging with people who were on the adcom side before talking to the actual school- we at Stratus have former adcom people and we can do that in a very small amount of time... so to find out more on this... go to this link: http://stratusadmissionscounseling.com/ ... b-visitor/
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Re: Negotiating MBA Scholarship Offer  [#permalink]

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New post 27 Mar 2017, 04:21
luckymba wrote:
Hi!


I'm not sure if this is the right forum to ask this question but would appreciate any input.
I just finished a video chat with a current MBA student of the B-school that offered me a partial scholarship.

She told me that I could negotiate for a higher scholarship but my problem is I already accepted their offer and made the first deposit.

Would I still be able to negotiate for that higher scholarship or should I just proceed with the rest of the application and avoid looking rude?

Thank you in advance for any response! :)

congrats
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Re: Negotiating MBA Scholarship Offer   [#permalink] 27 Mar 2017, 04:21

Negotiating MBA Scholarship Offer

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