Sunday, March 30, 2014

Hoping for financial aid

The estimated student budget at Stanford GSB for a single student living off-campus is $104K per year. Holy cow!! I've previously blogged about the cost of a MBA after looking at the Kellogg budget, but this is significantly more. Wow, kind of freaking out right now.

I've narrowed my school decision down to HBS and GSB, which both only offer need-based aid. This is both good and bad. I know that I'll definitely be awarded some scholarship aid because of this, but it also means that I will most likely not get close to the merit-based awards I received from other schools. I've completed the financial aid applications and should hear back within the next few weeks. I'm really hoping these school are generous, as salaries in social enterprise aren't known for being particular high.

Anyway, I think the debt is definitely worth it, but it makes me wonder how this trend can continue. I can only imagine what the costs will be in 5, 10, or 15 years from now. It seems like this bubble will have to burst at some point.

So here's to hoping for $$$$!

3 comments:

  1. I would've taken the full scholarship offers elsewhere, but then again, I'm the public sector type looking to stay in the public sector and not go into consulting, IB, VC, or PE where the Mad Men douches lurk.

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    1. It's definitely hard to turn down a full ride, especially since I am also not planning to pursue a traditional post-MBA career in consulting or finance. However, I believe that the opportunities afforded by HBS and GSB are significant enough to outweigh the debt. (Hopefully!)

      Anyways, thanks commenting! It's also nice to hear opinions of others.

      Do you know where you're headed yet?

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  2. Hope everything turns out well for you! I've been attending Haas full-time but my now part-time work (defense related) has taken me out of class for months at a time occasionally so I'm on fourth year on a two year degree.

    I was fortunate (or unfortunate) to not be in your predicament to choose between GSB or HBS, although I honestly believe GSB is the better school. HBS was too superficial for me but I wasn't raised in the Northeast.

    I was tied down to either California or North Carolina because of work and the fact I already had property in those two locations, so I only applied to three schools: GSB, Haas, and Fuqua. Waitlisted at GSB, full scholarship at Haas and Fuqua and went with the school that had better weather and food.

    But, I'm in a different situation than most people as I already already had post-employment work setup before I matriculated. I could have gotten to Cooley Law and nobody would've cared.

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