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Aug 10, 2017

Value Without the Price Tag: How MIT Sloan Assists Low-Income MBA Students

MIT Helps Low Income MBA

It’s no secret that attending an MBA program can often come with a hefty price tag—and when it comes to one of the top MBA programs in the country, you can guarantee you’ll be paying a lot for the high value of that program. At the Sloan School of Management at MIT, rated as the fourth best business school in the country by the U.S. News and World Report, one year of tuition will set you back $68,250. Factoring in additional fees, such as insurance, food and supplies, the cost is upward of $100,000.

For ambitious students with the skills to attend the best-of-the-best MBA programs, it’s a shame that money should be a determining factor in what program they can attend. Thankfully, most business programs work to ensure that all students—regardless of income—are able to attend the program that fits their qualifications. At MIT Sloan, there are a variety of ways for low-income students to qualify for financial aid based entirely on their financial need.

Below are just a few of the opportunities the school provides for low-income students to pay for their MBA, ensuring that the most talented business students can attend their school regardless of finances.

Loans

Once a student is accepted to MIT Sloan, they will begin a three-tiered financial aid process to determine financial need and the best way it can be addressed. The admissions process itself is needs-blind, ensuring that financial circumstance will not be a factor in whether or not a student is admitted to the program.

After admittance, students should file a Free Application for Federal Student Aid (FAFSA) and Graduate Loan Application, which will help determine their eligibility for federal and private loans by working alongside the MIT Student Financial Services.

Assistantships

A number of MBA students each year may also have the opportunity to be a teaching or research assistant. These roles, which may include grading assignments/exams, working directly with students or assisting with research both help students pay for school as well as provide important experience and exposure to the research and education programs at Sloan.

Starting in the second semester, students will also have access to TA and RA positions as well.

Fellowships

Each year, MIT Sloan offers a number of competitive fellowships/scholarship to incoming and second-year MBA students. Although these scholarships are merit-based rather than need, they provide low-income students another excellent opportunity to subsidize their education and often include additional ways to gain experience and improve one’s career.

Aside from the Legatum Fellowship and the MIT Public Service Center Fellowships, which have their own application process, all admitted students to MIT will be considered for fellowships that they are eligible for, and do not require a separate application. The fellowships may range in support from $10,000 to full tuition coverage.

You can find more information about the variety of fellowships offered at MIT Sloan here.

Additional Scholarships

A number of other scholarships are available for students at MIT Sloan that may be given out based on a wide variety of factors such as merit, identity, or nationality. These scholarships may range from funding for tuition and coverage of school-related fees to mentorship and the chance to build relationships with industry professionals. For the most part, these scholarships must be applied to separately after admittance to MIT Sloan. More information on these scholarships can be found here.

Even after need-based loans and assistantships, these scholarships may help further bridge the gap in costs for students attending MIT Sloan. These many opportunities for funding ensure that the most talented students can attend the best-fit school for them, allowing MBAs to focus on getting their degree rather than getting their wallets out.

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Aug 1, 2017

Carey School of Business Professor Earns Discovery Awards Research Grant

Carey School Discovery Award

Since 2015, Johns Hopkins University has issued Discovery Awards to fund new collaborative projects by researchers from across the university’s various schools and divisions. According to a recent press release, Roman Galperin, an Assistant Professor from the Carey School of Business, becomes the latest faculty member from JHU’s business school to be awarded the grant. Continue reading…

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Jul 28, 2017

Metro News & Notes: Return on Investment, Firing CEOs and More

MBA ROI

Good morning and happy Friday!

Here are a few stories you may have missed from the week that was …

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Jul 14, 2017

MIT Sloan Executive Startup on How To Sell Themselves

MIT Sloan Executive Startup

Brian Eastwood from the MIT Sloan School of Management recently discussed how TechEmergence founder Dan Faggella metabolized important lessons contained within the Negotiation for Executives program to sell his first startup, the e-commerce platform, The Science of Skill.

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Jul 12, 2017

Metro Jobs Report: Startup Experts, a De-Globalized World and more

Startup Experts

Lets dig into the latest jobs news …

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Jul 10, 2017

An Introduction To The World of MIT Sloan FinTech

MIT Sloan FinTech

Everyone knows that finance has always been a prominent staple of business school, but it’s also been a bit of an “old-school” science. In recent years, the role of technology in business increased dramatically as computers, big data and business analysts have entered the arena. These developments have opened up new sectors and industries, including FinTech. Continue reading…

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