1 / 10

WHARTON WELCOME WEEKEND Financing an MBA at Wharton

WHARTON WELCOME WEEKEND Financing an MBA at Wharton. Sharon Brooks Senior Associate Director, Office of Financial Aid April 14, 2007. Topics for Discussion. 2007-08 Student Budget Fellowships Federal Loan Programs Private/Alternative Loan Programs Other Financing Options Miscellaneous

cameron-kennedy
Download Presentation

WHARTON WELCOME WEEKEND Financing an MBA at Wharton

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. WHARTON WELCOME WEEKENDFinancing an MBA at Wharton Sharon Brooks Senior Associate Director, Office of Financial Aid April 14, 2007

  2. Topics for Discussion • 2007-08 Student Budget • Fellowships • Federal Loan Programs • Private/Alternative Loan Programs • Other Financing Options • Miscellaneous • Financial Aid Contact Information

  3. 2007-2008 Estimated Student Budget

  4. Fellowships • Approximately 25% of the entering Class will receive a Wharton fellowship • Applicants must submit an essay, resume, and the Need Access application to be considered for a fellowship • Deadline: May 14

  5. Federal Loan Programs • Federal Stafford Loan: Maximum $20,500 Maximum $33,000 (Healthcare only) • Federal Perkins Loan: (if eligible) • Graduate Federal PLUS Loan:

  6. Private/Alternative Loan Programs • Citibank Domestic Loan Program:www.studentloan.com/schools/upenn • Access Group: www.accessgroup.org • MBA Loans:www.salliemae.com/mbaloans • Bank of America: www.bankofamerica.com • Nellie Mae:www.nelliemae.org • Northstar: www.northstar.org

  7. Other Financing Options • Personal Savings • Help from Family Members • Outside Sponsorships: (Corporate Fellowships, Company Sponsorships) • Club, religious, community organization affiliations

  8. Miscellaneous • The importance of good credit will make it easier for you to borrow. Bad credit will prevent borrowing from private/alternative loan programs • Credit Scoring – review of all aspects of student credit history may be used to approve/deny loan application • Be careful about opening too many new credit card accounts • Credit Reporting Agencies: • Experian – www.experian.com • Trans Union – www.tuc.com • Equifax – www.equifax.com

  9. Miscellaneous • Wharton expects each student to contribute a minimum of 10% per year toward his/her educational expenses (approximately $7,800) • Using loans to offset educational costs is done through following specific instructions found in the ‘Welcome!’ Booklet • Manage monthly budget carefully – less chance for lack of funds at end of each semester

  10. Financial Aid Contact Information Financial Aid Staff: Sharon Brooks, Senior Associate Director Tammy Carter, Associate Director Teresa Del Pizzo, Administrative Assistant LaKeisha Knight, Loan Coordinator • Telephone: 215-898-8728 • Fax: 215-898-0120 • E-mail: mba.finaid@wharton.upenn.edu

More Related