Hi Zepplin,
Regarding how late to write the GMAT, it really depends on your comfort level with your score. Some people apply in round 1 to get the entire application process out of the way and leave plenty of time to rewrite while others prefer to make it a “one-shot” effort and will do the GMAT once in time for the final round deadline and apply (and ideally get admitted to the program
.
For the morning/evening MBA programs, scholarships are offered. You can read about them here:
https://www.rotman.utoronto.ca/Degrees/M ... urMBA.aspxThey are awarded as candidates are admitted. Regardless when a candidate applies, there is always a chance they can receive a scholarship (assuming of course their profile is strong enough to warrant a scholarship in the first place).
Regarding paying for studies, in the above link it also mentions the student loan opportunities afforded to students in the morning/evening programs. If you can get a Canadian cosigner for a loan to pay for tuition you would be eligible for a loan for the entire amount of tuition (and Rotman would pay interest on that loan while you are studying). As a result, tuition is instantly paid for through that bank loan.
Given the large financial investment involved in an MBA, students have typically done a great deal of research in advance in determining if/how they can afford to complete an MBA and as a result, understand if/how they can afford the program prior to beginning it.
Hope that helps,