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Futuremba1
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shaselai
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brainhurt
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rhyme
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In general, it doesn't make a difference. Certain schools that are perhaps more sensitive to yield (those that are trying to move up the ranks) may place some minor weight on it, but in the grand scheme of things it's unlikely to influence the decision in a meaningful way in either direction.
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3underscore
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As per rhyme - you can learn about the culture remotely. It is understandable why you wouldn't travel to every school in advance of spending $100k. That is why they have the preview weekends - you travel when you know it is a distinct possibility.
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shaselai
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i think it also depends on the applicant. Some care about ranking/recruiting etc. more than the area while others want to see what the place is like.
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chendawg
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are you supposed to have finished the application when you visit a school? Or no? I can't seem to find it anywhere.....hmm
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rgupta83
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I think campus visits matter at schools that stress "fit" So schools like Tuck, Fuqua, Yale SOM, Darden, etc. and less so at other schools. However I spoke with my buddy about NYU when i considered it and he said they care a lot about what you did to get to know the school like visit, and what not. I think if you can visit definitely get out there to all the schools. If not, make sure you visit the information sessions that are in your area. This may be a bit late for this cycle, but if there are some sessions in Jan def do your best to make it out. They remember everyone who shows up.

In terms on when in the process to visit, if you are going for an informational type visit and not an open interview I would go after you have done a decent amount of the application to really have questions that you need answered. If you are going for an open interview, i would have your application as close to complete as possible so you know what to talk about during your interview.

Hope this helps.
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Visiting a school also gives good material to write about in my opinion...