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11 May 2018, 11:09
Kudos
Bookmarks
Hello All 
This is to all fellow Indians out there in this wonderful forum!
Has anyone here heard of or received a 40% or more than 40% scholarship to any of the top 25 B Schools in the US?
Putting this question here because:
1. US MBA from top 25 B Schools typically costs more than INR 1.5 Crore these days.
2. Assume one gets a 770+ score and tailors the resume and essays well (Scores <750 possible for a scholarship? )
3. Interview also goes well (We are all a hopeful lot!)
4. Admit is recieved. (Yay)
Now, Prodigy Finance offers 90% aid for Wharton and Columbia and 80% aid for most of the top 20 schools atleast.
Now, even on top of it, there is still a balance component that the student has to take (most probably from India). It still comes to around 17+ lakhs in all cases (except for Wharton and Columbia)
So, more the scholarship, the incremental decrease in such an Indian loan component. Stories of such scholarships will greatly help.
So is the only way to go about it is a collateral backed loan? Or is there any other way around it? Please find below my calculations (with 20% added on both tuition and cost of living), but the figures might be slightly outdated:
First Column: MBA from
Second Column: Cost of Tuition (Excluding Scholarship)
Third Column : Cost of Living
Fourth Column (and Fifth Column): Cost of Attendance (2 yrs)
Sixth Column: Prodigy Sponsored Amount
Seventh Column: Indian Bank Loan of the Remaining Amount
Yale SOM (2 yr) 11172720 / 3985020 /15157740 /15157740 /12126192 /30,31,548
Carnegie Mellon (2 yr) 10452000 /3510000 /13962000 /13962000 /11169600 /27,92,400
Columbia (2 yr) 11700000 /4680000 /16380000 /16380000 /14742000 /16,38,000
Booth (2 yr) 10998000 /5148000 /16146000 /16146000 /12916800 /32,29,200
Kellogg (2 yr) 11232000 /4524000 /15756000 /15756000 /12604800 /31,51,200
Cornell (2 yr) 10342800 /4056000 /14398800 /14398800 /11519040 /28,79,760
Wharton (2 yr) 11949600 /5148000 /17097600 /17097600 /15387840 /17,09,760
MIT Sloan (2 yr) 12012000 /5304000 /17316000 /17316000 /13852800 /34,63,200
All suggestions, stories and inputs are welcome towards this!
Regards!
souvik101990 Not sure who else I know to tag, but you might have some experience regarding this? Kindly loop in the guys who've made it with a good ride!
This is to all fellow Indians out there in this wonderful forum!
Has anyone here heard of or received a 40% or more than 40% scholarship to any of the top 25 B Schools in the US?
Putting this question here because:
1. US MBA from top 25 B Schools typically costs more than INR 1.5 Crore these days.
2. Assume one gets a 770+ score and tailors the resume and essays well (Scores <750 possible for a scholarship? )
3. Interview also goes well (We are all a hopeful lot!)
4. Admit is recieved. (Yay)
Now, Prodigy Finance offers 90% aid for Wharton and Columbia and 80% aid for most of the top 20 schools atleast.
Now, even on top of it, there is still a balance component that the student has to take (most probably from India). It still comes to around 17+ lakhs in all cases (except for Wharton and Columbia)
So, more the scholarship, the incremental decrease in such an Indian loan component. Stories of such scholarships will greatly help.
So is the only way to go about it is a collateral backed loan? Or is there any other way around it? Please find below my calculations (with 20% added on both tuition and cost of living), but the figures might be slightly outdated:
First Column: MBA from
Second Column: Cost of Tuition (Excluding Scholarship)
Third Column : Cost of Living
Fourth Column (and Fifth Column): Cost of Attendance (2 yrs)
Sixth Column: Prodigy Sponsored Amount
Seventh Column: Indian Bank Loan of the Remaining Amount
Yale SOM (2 yr) 11172720 / 3985020 /15157740 /15157740 /12126192 /30,31,548
Carnegie Mellon (2 yr) 10452000 /3510000 /13962000 /13962000 /11169600 /27,92,400
Columbia (2 yr) 11700000 /4680000 /16380000 /16380000 /14742000 /16,38,000
Booth (2 yr) 10998000 /5148000 /16146000 /16146000 /12916800 /32,29,200
Kellogg (2 yr) 11232000 /4524000 /15756000 /15756000 /12604800 /31,51,200
Cornell (2 yr) 10342800 /4056000 /14398800 /14398800 /11519040 /28,79,760
Wharton (2 yr) 11949600 /5148000 /17097600 /17097600 /15387840 /17,09,760
MIT Sloan (2 yr) 12012000 /5304000 /17316000 /17316000 /13852800 /34,63,200
All suggestions, stories and inputs are welcome towards this!
Regards!
souvik101990 Not sure who else I know to tag, but you might have some experience regarding this? Kindly loop in the guys who've made it with a good ride!
souvik101990
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Expert reply
11 May 2018, 11:43
Kudos
Bookmarks
I am going to type a more thoughtful reply in the morning if you want, but just to put it out there, I had a near-full scholarship in UT Austin (top 15ish), a full ride at Foster (top 22ish). I got into Stern too but never negotiated, because I had my mind set for Ann Arbor.
11 May 2018, 16:14
Kudos
Bookmarks
souvik101990
Alright, so
1. Please! Awaiting the more thoughtful reply!
:D2. The scholarship you mentioned (and by extension available for the selected) is typically only on one year's tuition fee for an amount say X or is applicable for both years (X+X) for 2 years' fees?
3. Congrats! (very late, but no mean feat either Im guessing), but you still would've had an Indian component to pay off at the end of your Ann Arbor journey?
