Asking for more money (scholarship)

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Mary1288: Junior | Next Rank: 30 Posts; Posts: 11; Joined: Fri Feb 22, 2013 7:17 amFollowed by: 1 member

by Mary1288 » Sun Dec 22, 2013 2:33 pm

Dear consultants
I have been admitted to a top 10 business school and awarded aprox. 30K as a merit based scholarship. I really love the school and want to attend (is my number 1 choice), however money is definitely an issue and I would like to ask for a little more so my questions are:
- is it possible to ask for more money and negotiate with the school? Are they open to give more money?
- when is the correct time? Right now when I have received the offer or in a couple of months when people start to confirm attendance.
- if I am admitted to another mba with more money of scholarship would it work to tell the school?
- finally, who should I talk with: admissions or financial aid?
I would really appreciate your advise, the happiness of being admitted has vanished now the worrying has arrived!
Thanks!!

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Source: Beat The GMAT — Ask an MBA Admissions Consultant | Sun Dec 22, 2013 2:33 pm

MBAPrepAdvantage: MBA Admissions Consultant; Posts: 810; Joined: Thu Jun 16, 2011 1:12 pmFollowed by: 35 members; Thanked: 127 times

by MBAPrepAdvantage » Fri Jan 10, 2014 10:10 am

Mary,

Congratulations!!

As long as you communicate in a diplomatic and respectful manner then negotiating is appropriate and in some cases will be successful. I would recommend you do so now, before more of the money is allocated. I have had clients mention another school's offer and subsequently receive more money, but if you are still waiting on the decisions of other schools you might then hold off and have that discussion later. It might be a little touchy to ask for more money now, receive more money, then ask for more money later to match another school's offer ...

Were you called by an admissions officer who informed you of your merit award? If so, I would recommend starting with that person.

Good luck,

Michael Cohan
MBAPrepAdvantage Founder & AIGAC Board Director
305-604-8178
www.mbaprepadvantage.com

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