MBA的奖学金介绍

Sources of funds	Amount	Rate of Interest	Advantages	Disadvantages
Sponsorships (family/relatives)	-	-	-	-
Bank Loans (In home country)	US $ 10,000 - US $ 30,000	16-18%	Repayment after completion of course	Requires security like property/assets
University Funding	Part or complete tuition fees	-	No repayment	Depending on funding type, you may have to work for upto 20 hours a week.
Loans & Aid from Other Sources (U.S.)	Complete tuition fees & expenses	Approx. 8 %	Low interest rates, Easy repayment terms	Requires a Co-signor, who is U.S. resident/Green card holder
Scholarships in home country	Varies	-	No repayment	Very few available, tough competition
Scholarships in U.S.	Varies	-	No repayment	Very few available, tough competition

Sponsorships	Top
This is perhaps the simplest option of all. The university presents an official estimate of study and living expenses, and you get a letter or affidavit from your parents or a rich relative, in which they declare their income and support for your studies. This is satisfactory for both the university and the visa authorities.>>>

University Funding

Top

This kind of funding is usually the most common. Unfortunately, most of the university funding is for research based and science programs and not for the MBA programs. The different types of financial help available:> >>>

Types of Assistance> >>

Merit based assistance is awarded in many forms, from tuition waivers, various types of assistantships, to fellowships. The most common are listed here :

Tuition Waiver : This means that the student does not have to pay the tuition fees at the university. However, general fees (for the use of university facilities like the library, computers, and sports and health services) usually have to be borne by the student. A tuition waiver is frequently awarded in conjunction with a scholarship or teaching/research assistantship.
Scholarship / Fellowship : This is usually an outright grant based on the student’s academic ability and performance. Hence, Only a truly outstanding student may be considered for this type of award, before enrolling at the university. A full scholarship would pay for a student’s entire living expenses at that university, whereas a partial scholarship would require additional funds from the student. These awards are few and very competitive.
Assistantship : Most students who receive assistance usually do so in the form of an assistantship, i.e. a cash stipend sufficient for their living expenses, and/or tuition waiver. To get this, they have to work for a maximum of 20 hours per week. This work normally consists of teaching and research activities. Teaching assistantships are more likely to be in universities, which have large undergraduate classes whereas research assistantships tend to be more common in those fields and universities in which considerable research is in progress. Information brochures of most universities give this information.

Who Should Apply?

Students have a greater chance of getting financial aid if they :

show evidence of a high level of academic achievement
achieve high GMAT scores
demonstrate financial need but have private funding to cover some of the cost. Financial need is not crucial for some awards.

Bank Loans & Aid from other Sources (U.S.)	Top
Bank Loans These are the best alternative for students applying to the MBA program. One thing to keep in mind when applying for loans is that, in most cases, you need to have a co-signer who is a U.S. citizen or permanent resident. The co-signer is responsible for paying back the loan if you should default on it. There are some banks that waive the co-signer requirement for specific schools. You should check this information from the school website. As an example, Citibank provides loans to international students admitted to Harvard Business School without a co-signer. Another example is Bank of America providing loans without a co-signer to students at Kenan-Flagler, University of North Carolina (at the time of writing this, the CEO of Bank of America is an alumnus of Kenan-Flagler School of Management) The terms of the loans usually require any interest or principal payments after graduation. Read the terms of any and all loans before you sign. Make sure you understand those terms and what your repayment schedule and fees entail. Ask for assistance in interpreting the fine print if you are having trouble understanding it. We have seen that a lot of students are very debt-averse. If you have been accepted to a good program, your chances of getting a good job are very good and paying off the loan is not that big an ordeal as it seems. So, if you do get admitted to a school of your choice, we would recommend that you explore this funding alternative. Other Sources There are many other sources of funding especially for graduate students applying to the universities in US. These need some spadework. If you try hard, you may find the kind of funding that suits your needs. A few good websites that offer information for international students are : Financial Aid for International Students (www.finaid.org) NAFSA Association of International Educators (www.nafsa.org)

.