Does seeking Financial aid effects our chances to admissions

Expert replies

Aman verma: Master | Next Rank: 500 Posts; Posts: 304; Joined: Wed Jan 27, 2010 8:35 amFollowed by: 3 members; Location: International Space Station; Thanked: 11 times

by Aman verma » Sat Feb 13, 2010 12:24 pm

While the top programs like HBS, Wharton, Stanford ,I guess ,do not bother much about financial contribution from the students while making their admission decisions, but is that true also for other universities? What about the middle of the road universities which may not be that generous with financial aid ? So how they look at an application which seeks financial aid. For example : Akshay an Indian student who has a good profile, have 700+ GMAT but requires full financial aid to finance his MBA and Tom an american student who has the same profile as Akshay ,have 700+ GMAT but is willing to pay for the entire cost of attendance of the MBA . Now how the university is going to view the applications of both the students ? Will they favour Tom because he is a resident and also willing to pay the entire cost of MBA ? Will Akshay be at any disadvantage because he is an international student and is seeking financial aid ? Most of the universities below 10th ranking may not be that generous with financial aid and may require exceptional merit on the part of an international student to be considered for financial aid . Then what are the chances of an international student being considered for admissions? Does seeking finsncial aid effects one's chances to admissions ?

Any expert opinion on this. If anybody can please provide an opinion on this .Thanks !

Source: Beat The GMAT — Research MBA Programs | Sat Feb 13, 2010 12:24 pm

Bryant@VeritasPrep: MBA Admissions Consultant; Posts: 1090; Joined: Wed May 27, 2009 4:06 amFollowed by: 68 members; Thanked: 175 times; GMAT Score:750

by Bryant@VeritasPrep » Sat Feb 13, 2010 1:15 pm

Thanks for asking about financial aid. The short answer is 'no,' seeking financial aid does not affect the admissions decision. Schools are actually bound by law not to discriminate on financial position, and while yes, everyone must have their tuition bill covered, how this is done is generally not of concern to the committee as it pertains to the admissions process. Whether the person pays in full up front or takes out a loan, or qualifies for aid, the school still gets their tution money. In fact, for many schools, the whole process is blind, where the folks who assess your application are not the same folks who assess your financial aid paperwork.

Bryant Michaels
MBA Admissions Consultant

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money9111: Legendary Member; Posts: 2109; Joined: Sun Apr 19, 2009 10:25 pmFollowed by: 79 members; Location: New Jersey; Thanked: 109 times; GMAT Score:640

by money9111 » Sat Feb 13, 2010 4:33 pm

The b-schools don't know how or if you can pay when they're evaluating your profile. They know they can admit X amount of people but that X-Y will enroll, due to such factors...so thats the reason for the waiting list.

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Aman verma: Master | Next Rank: 500 Posts; Posts: 304; Joined: Wed Jan 27, 2010 8:35 amFollowed by: 3 members; Location: International Space Station; Thanked: 11 times

by Aman verma » Mon Feb 15, 2010 9:28 am

bryantmichaels wrote:Thanks for asking about financial aid. The short answer is 'no,' seeking financial aid does not affect the admissions decision. Schools are actually bound by law not to discriminate on financial position, and while yes, everyone must have their tuition bill covered, how this is done is generally not of concern to the committee as it pertains to the admissions process. Whether the person pays in full up front or takes out a loan, or qualifies for aid, the school still gets their tution money. In fact, for many schools, the whole process is blind, where the folks who assess your application are not the same folks who assess your financial aid paperwork.

My deepest gratitude to Bryant for clearing my doubts. Now there is one thing I am still confused about is : when the universities require INTERNATIONAL students to show sufficient liquid funds to cover for the 1st year of cost of attendance,
why will they be willing to give that international student any financial aid. Because if the student is showing that he has sufficient funds to cover for the cost of attendance why will the university give that student any financial aid because he already has the funds?Won't it look stupid ?Will they actually give that student any financial aid if he shows that he has sufficient funds to cover for the 1st year of attendance ? How the financial aid system works for international students in such situation ?

money9111: Legendary Member; Posts: 2109; Joined: Sun Apr 19, 2009 10:25 pmFollowed by: 79 members; Location: New Jersey; Thanked: 109 times; GMAT Score:640

by money9111 » Thu Feb 18, 2010 7:20 pm

maybe it's to be able to figure out just how much financial aid to give? or to see if that student can attend the school even if they're not given financial aid? the schools like to have high enrollment rates and if they admit a lot of students who ultimately can't afford to go... then their enrollment rates go down

this is just my guess

My goal is to make MBA applicants take onus over their process.

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