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NickTW
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Joined: 15 Aug 2008
Last visit: 06 Feb 2013
Posts: 87
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64
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Concentration: Finance
Schools: NYU Stern Class of 2012
GPA: 3.74
WE 1: GM, Diversified Financial Svcs.
WE 2: Sales & Trading
Posts: 87
Kudos: 64
TUITION and TAXES 17 Nov 2008, 20:08
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First of all, fantastic post Aau. Some really useful information here as people get closer to making some very significant financial decisions. I'm not sure if this is the correct post for this question or not, but it's something that I've struggled with in my own research. Below is an excerpt from Chicago Booth Profile on BW.com.

FINANCIAL AID
Full-time MBAs apply for financial aid through:
Dedicated financial aid office at the B-school

Full-time MBAs applied for financial aid for the current academic year: 100 %

Full-time MBAs receiving financial aid through school: 77 %

Mean MBA financial aid package for the current academic year: $ 55,276

Median MBA financial aid package for the current academic year:$ 67,500

On what basis are scholarships awarded?
academic merit
a combination of need and merit

Can someone break down what this means exactly? Are 77% of students receiving scholarship of ~$55,276 per year? Or is the term "financial aid package" inclusive of grants/scholarships/student loans, etc? If so, can you determine the average scholarship/grant that the average student receives? The quote below makes me think "financial aid" includes loans and scholarships:

Mean outstanding debt among the most recent graduates from the full-time MBA program:
$ 85,614

Appreciate any clarification you can provide. Again, great resource here.
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