Mar 07, 2017

Financing Your MBA

Tuck's veteran financial aid team includes director, Diane Bonin, who has been at Tuck for 19 years, assistant director, Kristy Snow (20 years), and counselor, Sandy Baker (15 years). They adhere to an open-door policy and are happy to help students during the application process and at any point throughout their two years at Tuck. 

Financing your MBA can be daunting during the application process, when choosing a school, and even after fully committing to the program of your dreams. We hope this post provides some transparency around Tuck's financial aid process and helpful advice to make things a little bit easier on yourself. Tuck offers an array of scholarships and fellowships. All applicants admitted into the MBA program are considered for scholarship regardless of citizenship—there is no separate application process for Tuck Scholarships.

Once admitted, the financial aid office works with students to identify potential sources of financial assistance including outside scholarships, fellowships, and loans. At that point, you can apply for educational loans by the deadlines we’ll share with you. The financial aid office determines eligibility for loans based on a variety of factors.

Getting a Tuck MBA is a major investment, but it is a long-term investment offering high returns for your future. As you approach the overall application process, it would be unwise to assume you’ll receive a scholarship and not plan for the possibility that you may not. Be mindful of the costs associated with an MBA and plan accordingly so you’re not surprised later. As you plan, remember these five things:

  1. Save, save, save! Make a budget and stick to it. Set aside money each month. Financial aid can only cover the cost of attendance. Take advantage of online budgeting resources available to you like those at Mapping Your Future.
  2. Request your free credit report. Understand how your credit score works. The better your credit score, the lower your interest rates will be on private educational loans. If there are any discrepancies, you will want to resolve them as soon as possible. It could be a lengthy process. 
  3. Pay down your consumer debt. Keep all of your debt obligations current including student loans. Most student loans can be deferred once you are enrolled in school full-time.
  4. How much can you borrow? Use the Debt Wizard to guide your student loan borrowing decisions by understanding what your salary will need to be upon graduation to pay it off.
  5. Begin researching outside scholarships. We have put together a comprehensive guide to help you begin your search.

The return on investment is tremendous personally, professionally, and financially. At Tuck, we have several funding options available for all of our students. We will help you find the best combination of loans for your personal situation whether they are institutional, federal and/or private. We also offer no-cosigner loan options for international students.

The financial aid industry is constantly changing. Our office is your best resource for the most current information. Every financial situation is different. We will work with you one on one to answer your questions.

According to the 2017 US News rankings, Tuck's class of 2016 had the 2nd highest starting salary plus bonus across all full-time MBA programs, which gives our students the ability to pay back their loans. Tuck has one of the lowest default rates in the country. Don’t let financing your education stand in your way of becoming a part of the Tuck community!