How the Chicago Booth School of Business Helps Low-Income Applicants
U.S. News and World Report lists University of Chicago’s Booth School of Business among its top three best business schools in the country. But with the school’s estimated tuition (including living expenses) for the 2017-18 year at $103,759, Booth may not sound like a practical option for a number promising candidates. Though the $126,937 average base salary of graduates is definite proof of return on investment, for many, the cost of tuition may make the idea of earning a Booth MBA seem impossible. Fortunately, the myriad loan and scholarship options available at Booth may make a Booth MBA more feasible for students from all economic backgrounds.
Those of you craving a challenging higher education experience at one of the most prestigious institutions in the U.S. can breathe a sigh of relief. Below, we’ve laid out some of the resources available to help low-income applicants fund their MBA education at Booth School of Business.
Scholarships and Fellowships
Though Booth does not offer need-based financial aid, there are a plethora of merit-based scholarships and fellowships available to promising students. According to the school’s website, awardees are chosen based on the quality of their interview, their academic merit, their prospective concentration, competitiveness, career goals, and life experiences.
Specialized scholarships are available to minority students, veterans, and students with outstanding scholastic achievements. There are also industry-specific opportunities, such as the Canfield Private Equity Fellowship, which is specifically geared toward students with a background in private equity or investment banking, and even includes an internship at a private equity firm.
Take a look at some of the more prominent Booth scholarships available:
Chicago Booth Merit-Based Award
- This general scholarship is awarded to select students at the time of admissions based off, according to the school, “who have excelled in academics, work experience, and service to the community.”
George J. Stigler Fellowship
- This awarded is granted to students who excel in fields such as law, economics, and business.
Forté Foundation Fellowship
- This full-time MBA awarded is gifted to students through the forward-thinking Forté Foundation every year for students that “exhibited exemplary academic, team, community, and/or creative leadership, and are committed to advancing the interests of women in business.”
Distinguished Fellowship
- Students granted this high-ranking fellowship receive a “stipend and mentorship from Harry L. Davis, the Roger L. and Rachel M. Goetz Distinguished Service Professor of Creative Management.” The fellowship covers a student’s entire tuition.
David W. Fox Scholarship
- Another full-tuition award, the David W. Fox Scholarship is gifted to students that have previously or are currently serving in U.S. military. The school notes, “Students must demonstrate outstanding leadership, academic and extracurricular achievements, and a commitment to advancing the interests of those having served in the military.”
You can learn more about Booth’s scholarship opportunities here.
Loans
Booth students who are U.S. citizens or permanent U.S. residents can apply for a variety of federal or private student loans. Students looking for federal loans can choose a Direct Unsubsidized Loan or a Direct Grad PLUS Loan. To qualify for the Direct Unsubsidized Loan, students must be enrolled in at least 200 units each quarter. The maximum amount students can receive with this loan is $20,500 per year. Students who require more than $20,500 per year can apply for the Direct Grad PLUS Loan, which has a much higher cut-off. With this loan, students can receive up to the total cost of attendance (minus any other outside financial support). Students who opt for private, credit-based loans can also borrow up to the total cost of attendance, not including separate sources of financial assistance.
International students also have the option of leaning on loans to help finance their MBA. Booth provides loan options for international students without U.S. cosigners, as these students may not be eligible for private loan options. Those with U.S. cosigners, however, have a wide selection of private loan opportunities available to them.
How to Deal with a Bad GMAT Score
You’ve been studying for months, possibly losing sleep as you go over the practice questions in your head and, as a result, getting some oh-so-enjoyable stress dreams. If any of this sounds familiar, you probably have had to—or currently are—preparing to take that Graduate Management Admission Test (GMAT).
Deciding Which Seattle Marketing MBA Is Right for You
Seattle is, easily, one of America’s fastest growing cities. Just in one year, from 2015 to 2016, the city’s population increased by 21,000 people, according to The Seattle Times. That’s 57 people a day, on average.
It’s no surprise people are flocking to Seattle. Amazon, Nordstrom, and Starbucks have headquarters there—and Amazon has been busy hiring like crazy. Companies like Microsoft and Boeing are only contributing to this growth too. But beyond the economic and population growth, Seattle is beautiful. Famous for its lush mountains, Seattle provides a view of Mount Rainier from just about any point in the city.
Its progressive policies—like providing a $15 minimum wage and legalizing the use and sale of cannabis—also make the city appealing for young people who are curious about where to start their family or career.
It’s the perfect place to build a life—after that MBA you’ve been thinking about. Three programs, in particular, offer competitive marketing MBA programs. Perhaps they’ll land candidates a job in the tech industry where Seattle employees are the “second-best paid techies,” in the U.S, according to The Seattle Times.
Seattle MBA Programs with a Focus in Marketing
Albers School of Business and Economics — Seattle University
The Albers School of Business and Economics dates back to 1976 when the school was renamed to honor the contribution of Eva and George Albers. Since then, it’s garnered a number of accolades. Most recently, The Princeton Review included the school in its 2017 “Best Business Schools” publication. Albers offers different MBA programs, including an Early Career MBA, a Professional MBA, and a Leadership Executive MBA.
The Professional MBA program can be customized to meet a student’s needs. Two thirds of the required 54 credits consist of electives, so candidates can choose the classes they need to meet their career goals. Candidates can make marketing their discipline. The school offers 12 marketing electives. This program allows students to take two of the school’s 10 graduate certificates as part of their electives. Marketing is on that list.
The business school also gives specialized master degrees for accounting, business analytics, and finance. Its Master of Science in Business Analytics (MSBA) can give marketing candidates a competitive edge in learning data skills.
Foster School of Business — University of Washington
The Foster School of Business at the University of Washington has been around for 100 years. Yep, since 1917. In 2007, it took up the Foster name in honor of Michael G. Foster, who donated $36.5 million through his foundation.
This money went toward building the campus’ state-of-the-art facilities, a major perk for a public university. And this devotion the school has for its students has proven successful: Nearly 3,000 alumni have founded companies. U.S. News World & Report ranked its full-time MBA program number one overall in the Northwest and number nine overall among public universities.
The curriculum ensures candidates understand every facet to business: accounting, finance, strategy, and, of course, marketing. But the second year of the full-time program allows students to hone in on their chosen skill. For marketing MBAs, the program offers 12 electives, including one exclusively on data.
Seattle Pacific University School of Business, Government and Economics
The Seattle Pacific University School of Business, Government and Economics started teaching business in 1977. Its Christian background influences the way the school teaches business. Ethics and service are major themes.
The MBA program features seven emphases: cybersecurity, data analytics, finance, human resources management, information systems management, management, and social and sustainable enterprise. Marketing is a required skill in the curriculum. Marketing is included in the pre-MBA courses required to obtain the degree. For advanced courses, marketing analysis is required. The data analytics emphasis is a good place for those interested in marketing to look into. Data is key in marketing. Numbers tell a bigger story than one might imagine.
The Best of Baltimore’s Part-Time MBA Programs
Committing to graduate school can be both exciting and daunting. Earning an MBA gives aspiring industry leaders an undeniable competitive edge, but going back to school full-time can bring other areas of students’ lives to a screeching halt.
Fortunately, many schools offer part-time MBA programs that allow the flexibility to maintain their career and family commitments while still continuing education. Choosing a program that is the right fit is essential to success. That’s why we put together a rundown of the best part-time MBA programs in Baltimore metro.
Carey Business School — Johns Hopkins
The Carey Business School at Johns Hopkins recently expanded its Flexible MBA track to include more online opportunities. Students opting for the Flexible MBA generally complete their 54 credits over the course of three years. An online or online-on-campus hybrid format for students with concentrations in Leading Organizations, Financial Businesses, or Health Care Management. Students pursuing the on-campus option enroll in eight-week sessions that take place Monday through Thursday from 6-9 p.m. in the evening. Carey offers classes on both the Baltimore and Washington DC campuses. Graduates of the Flexible MBA have gone on to hold powerful positions in companies like AT&T, UBS, and World Bank.
Perdue School of Business — Salisbury University
At the Salisbury Perdue School of Business, students can complete their part-time MBA in two years. Perdue offers a 100 percent online program as well as an online-on-campus hybrid. This MBA curriculum includes access to the SAP University Alliance Program, a global network that allows students and faculty to integrate SAP technologies and resources into the classroom. Gaining this technological know-how may give graduates an immediate edge in the marketplace. The program is excellent for students looking to completely shift trades, or aspiring to pursue the business side of an ostensibly unrelated area. Perdue’s MBA does not require that applicants have an undergraduate degree in a business-related field. In fact, Perdue has embraced students with undergraduate degrees in fields like archaeology and art history.
Sellinger School of Business — Loyola University Maryland
The part-time MBA at Sellinger School of Business is designed for students already balancing full jobs. Business school students on this track take their classes in the evenings, after the work-day is finished. Selling offers hybrid and online options for those who cannot consistently make it to campus for their classes. This program is ideal for students who would like to begin their business education on their own time frame, as applicants can enroll at the beginning of any term. Sellinger boasts an emphasis on “reflections, discernment and ethical commitment,” that distinguishes the program from many others.
Merrick School of Business—University of Baltimore
The Merrick School of Business Flexible MBA upholds University of Baltimore’s emphasis on offering programs that let students continue their educations without putting their lives on hold. All of the classes in this program take place in the evening, and 50 percent of the course are offered online. Courses are offered in seven-week terms. Students in this program set their own pace, and those in different time zones are not at a disadvantage, as online courses are offered in an asynchronous format. Students in the Flexible MBA can choose a full-time or part-time course load, without notifying anyone or navigating any administrative channels.
University of Maryland R.H. Smith School of Business
Students earning their MBA through the R.H. Smith School of Business at the University of Maryland’s part-time program have the benefit of an extremely flexible pace. MBAs can finish their degree in 24 months, 28 months or they can set their own speed and take up to five years. Smith might appeal to those who wish to learn more about the international marketplace, as this MBA program integrates global experiences into the curriculum. Students can choose to attend classes on University of Maryland’s Baltimore, Washington DC, or Rockville/Shady Grove campus. This program was ranked among U.S. News & World Report’s “Best Part-time MBAs.”
La Salle School of Business Introduces New Online MBA
In October 2017, La Salle University’s School of Business will officially launch its new Online MBA program. The program is entirely virtual, so students can earn an MBA regardless of their physical location. Courses in the program last eight weeks, with five start dates to choose from each year. Students pursuing the Online MBA can choose from a variety of specializations, such as Business Systems and Analytics, Management, Marketing, Finance and Accounting.
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Metro News & Notes: Return on Investment, Firing CEOs and More
Good morning and happy Friday!
Here are a few stories you may have missed from the week that was …
