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Scholarship Chances

by jsmith54 » Thu Sep 02, 2010 12:32 pm
I thought that I'd throw this question out there for anyone who might have a clear understanding of how the scholarship process works. Basically, I'm trying to figure out if I have any chance of getting a scholarship with a high GMAT but low GPA.

Here's my background: BS in Engineering from a mid-range school, MS in Science from a different mid-range school. I maintained a 3.0 at both, basically on a constant basis over the 7 years. That was good enough to keep my academic scholarship, during undergrad.

I haven't finished studying for the GMAT yet, but I'm getting above 750 on my practice tests, so I think that I might actually score above 750 on the test day. I have about a month left in my studying, so I don't think that I'll backslide too much.

So, am I in or out of the running for scholarships in general? I've been looking at the health care program at Kellogg, the MBA/MPH program at Haas, the health care program at Wharton, and Harvard (which doesn't have a health care program but does have scholarship money for life science-focused graduates). I think that I in general match the profile of successful applicants, but of course, these are all very hard programs to get into. I would be lucky to make it into any one of them.

What I'm wondering is how much my previous academic record determines my eligibility for any of the scholarship money allocated to these programs. Will a very good GMAT score offset the GPA to the point of allowing me to be considered? My list of schools that I'm applying to isn't final, and I would hate to include a school based on the availability of scholarship money that I won't be considered for.

Any feedback would be appreciated.
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by Tani » Sun Sep 05, 2010 9:32 am
Scholarship availability can vary dramatically from school to school and even from year to year. Your GPA is not terrific, but not awful for a strong technical field. Your best bet is to look at the schools that are strongest in the field you wish to enter and see what their websites say about scholarships.

Schools today tend to be need-blind, meaning they will accept you and then worry about how you can pay for it. Most commit to seeing that there is enough money between scholarships and loans for you to live comfortably (but not lavishly).

GMAT scores often drive scholarship eligibility so a 750 would be a big help. You can even try talking to the admissions departments directly, asking what profile they look for in deciding scholarship money. Some schools will even give you data about the average indebtedness and, of course, the average salary increases of their graduates. Don't ignore your earning potential on graduation. If school A routinely sees its graduates making $20,000 more than graduates in similar fields from School B, a $20,000 scholarship differential pays back in a hurry.

Good luck,
Tani Wolff
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by jsmith54 » Mon Sep 06, 2010 10:46 am
Thanks for the feedback. I'm glad to know that GMAT is a consideration. I didn't really think that it would be appropriate to ask the admissions office about the likelihood of getting a scholarship, but if it's a normal thing, then I'll definitely ask them some questions.
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by ashishcbs » Mon Sep 06, 2010 11:29 am
Hi Tani,

Could you please provide your guidance.

I am also an applicant from India. I have done my graduation from one of the top non-technical colleges in India scoring 74.3%. (Question 1. how can I convert this into GPA? I ranked fifth out of a batch of 120 students and best score of my batch was 80%)

I have worked for 3 years and 10 months at two of the Big 4 (Deloitte and Ernst & Young). I have worked directly with consulting teams and senior management in the US and UK, however, did not get a chance to visit Onsite.

My Gmat score is 750 and AWA 4.5. Besides, I have cleared CFA level 2 and a basic course in french language. My extra curricular are decent (not exceptional) as I was part of college cricket team and have won a few awards for playing synthesizer.

I want to pursue my career in consulting/finance.

Ques 2) I have applied to ISB. Can you please help me to shortlist Schools in US for Full time MBA? My concern is that I have only 15 years of full time education.

Ques 3) What will be the approx expenditure for a two year program in the US and what are my chances of getting a scholarship?

Thanks in advance

Regards,
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by Tani » Mon Sep 06, 2010 9:30 pm
You have a lot of questions, some of which are unanswerable.

First, I cannot tell you which schools to apply to. You can see the GPA and GMAT ranges for the top US schools in any ranking. Your choice of schools should depend on what you want to study and which schools will meet your needs. Look at the rankings in your area, not just the overall rankings and take a hard look at the curricula.

Translating grades to the US system is technical, but your undergraduate institution may be able to do that for you. Most colleges in India have significant experience with graduates who apply to US schools. Your target school may also have a system for translating grades. There are always independent translation services that will charge for converting your grades to the US system.

I am not sure why you are concerned about your 15 years of education, if you in fact finished a full program equivalent to a four-year degree in the US that should not be a problem. Again, most schools have significant experience with applicants from India and may be willing to tell you whether your years of schooling qualify.

The expenditure varies by school, but generally there are two tiers - public and private. State universities offer significantly lower tuition to residents, but you will probably not be able to establish residency unless you are already living in the US. State school tuition, however, is still often significantly lower even for non-residents. Expect $40,000 -$50,000 per year in tuition and fees not counting living expenses, books, travel and more for a private university and $10,000 - $20,000 per year less for a public university. Living expenses, of course, are far higher in the major metropolitan centers. Many schools will give a budget figure on their websites. Most schools are need blind and will ensure a combination of loans and scholarships to meet your needs. Because you are not a US citizen, you are not eligible for government loans and will have to look largely to private sources. Scholarships are very hard to come by since the schools assume that you will be able to pay back loans quickly with your increased salary upon graduation.

Both admissions and scholarships are very competitive. Your GMAT is excellent, but you will be in a large and very competitive pool. Many thousands of talented technically-trained people from India apply to US schools every year. Only a small proportion will get accepted to top schools. Your work experience is good, but not exceptional. You will need to tell a very persuasive story to stand out from the crowd. A seasoned admissions consultant can help you craft clear and insightful essays.

Good luck,
Tani Wolff
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