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Cost of living in the top 15 schools

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pickaname Newbie | Next Rank: 10 Posts Default Avatar
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Cost of living in the top 15 schools

Post Mon Mar 16, 2009 11:56 pm
Hello,

I want to ask you about a little help because I am trying to know what are the expected cost of living in the top 10 or 15 b-schools in the US.

I know this question is silly because it depends a lot on many things but I have been to the US only twice and just for a few days. Thus, I have no idea of the real cost of living even after browsing the schools' websites.

Let me explain more about my question. Currently I am waiting for answers from 3 european b-schools but in case of getting rejected in all of them I want to apply to the US in the R1 of the next intake (class of 2012). The problem is that I would pursue the MBA with a scholarship from a Spanish foundation and I do not know if that it would be enough to cover all the expenses. The scholarships pays in full the tuition fees (but only the tuition fees, not any other fees like college, student association, ...) and gives a monthly stipend around 2100 USD plus plane tickets and medical insurance.

Would this be enough to live "as a humble married student" in those schools?
This includes all those fees which are not tuition fees. In Europe, there is a tuition fee and the rest is only what you have to pay for yourself (food, flat, books, transport, ...).

I am especially biased to Stanford, MIT and Kellogg, but information from all the top schools would be appreciated.

And if there is another top school with a significantly lower cost of living please let me know.

Thank you very much for your help.

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mayonnai5e Legendary Member Default Avatar
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Post Tue Mar 17, 2009 6:01 pm
You can look at the "cost" information for those schools and calculate it out yourself. It really depends on where you go. New York will be very expensive to live in and 2100 USD may just cover your housing costs plus some leftover.

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pickaname Newbie | Next Rank: 10 Posts Default Avatar
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Post Tue Mar 17, 2009 11:36 pm
Thanks.

I was looking in those sites, but it's really messy for me. Maybe I'm not ready to pursue a MBA if I'm not able to decypher that kind of information. I guess NY can be very expensive and I'm not thinking about it. But what about Stanford, MIT and Kellog?

What are those hidden (or not hidden) fees apart from the tuition? In Europe there are only two fees: application and tuition, and that's all. In addition I know how expensive is the UK, but not a slight idea on the US.

If someone could share their insight... It would be help a lot.

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mayonnai5e Legendary Member Default Avatar
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Post Wed Mar 18, 2009 1:26 am
MIT Cost info (http://mitsloan.mit.edu/mba/admissions/finance.php):

Tuition $46,784
Books and Supplies 1,800
Computer 5,000
Food 4,460
Insurance 1,570
Personal 2,808
Housing 10,764
Transportation 2,496
Fees 250
TOTAL $75,932

Subtract tuition and you have $29,148. This most likely counts the 9 month school year (and not summer) which leaves you at $3,238 per month. But that isn't realistically how you'd spend your money since several categories would be upfront costs incurred once or in several payments (e.g. computer, fees, insurance, etc).

This number will also not match your situation perfectly so it may be too high or too low.

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pickaname Newbie | Next Rank: 10 Posts Default Avatar
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Post Thu Mar 19, 2009 1:09 pm
Thank you,

Now I see the point. I hope I get accepted in Europe, as it seems to be slightly cheaper.

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