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  2. PUTTING THE PIECES TOGETHER A Wharton MBA is an investment -in yourself, and -in your future Consider the value of your degree -in 5 years -in 10 years, and -in 20 years

  3. PUTTING THE PIECES TOGETHER University Assistance Educational Loans Outside Assistance Personal Resources

  4. INVESTING IN YOUR FUTURE PERSONAL RESOURCES • Savings and investments • Checking and savings accounts • CD’s/Money Market accounts • Retirement funds • Home equity • Tuition prepay • Students may lock in tuition rate by paying both years’ tuition up front • Penn Monthly Budget Plan • Students may enroll in 10-month payment plan through the University • Information available at

  5. INVESTING IN YOUR FUTURE OUTSIDE ASSISTANCE • Scholarships • Club, religious, community affiliations • Online resources • • • Outside sponsorships • Corporate fellowships • Company sponsorships • Family and friends

  6. INVESTING IN YOUR FUTURE UNIVERSITY ASSISTANCE • Fellowships and scholarships • Approximately 30% of incoming students receive awards from Wharton directly • Some awards are made based on donor-specified criteria • Students who receive select named awards are expected to send donors “Thank You” letters and bios • Need-based grants • Need-based grants are awarded to students based on financial information from their aid applications • A few key awards: • John M. Bendheim Loan Forgiveness Fund for Public Service • Loan forgiveness up to $10,000/year for five years for graduates in public or non-profit careers • Emerging Economy Fellowships • $20,000 fellowships to students from emerging economies throughout the world

  7. INVESTING IN YOUR FUTURE EDUCATIONAL LOANS (INTERNATIONAL) • Cosigned Alternative Loan Programs • Eligibility • International students with creditworthy U.S. citizen/perm res cosigner • (Creditworthiness includes delinquencies, defaults, debt-to-income ratios, lack of credit history, and overall credit score) • Amount – capped at cost-of-attendance less any other financial aid • Interest rate – variable; from 5% - 15%, depending on credit • Origination fees – variable; from 0% - 10%, depending on credit • Interest – unsubsidized; students responsible for interest assessed while in school • Repayment – variable grace periods, depending on lender

  8. INVESTING IN YOUR FUTURE EDUCATIONAL LOANS (INTERNATIONAL) • Non-cosigned Alternative Loan Program* • Eligibility • No negative U.S. credit history • Amount – up to 90% of your student budget • Interest rate – variable; Prime + 3.0% (currently 6.25%) • Origination fees – 0% • Interest – unsubsidized; students responsible for interest assessed while in school • Repayment – 6-month grace period after graduation • *Must join Digital Federal Credit Union. Additional information on process should be available by May 1

  9. INVESTING IN YOUR FUTURE NOW WHAT? Planning Applications Deadlines

  10. Planning Deadlines INVESTING IN YOUR FUTURE PLANNING Applications Conduct an assessment of your personal resources How much can you personally afford to contribute? Wharton recommends a minimum 10% contribution from personal resources Research outside funding sources and loan programs Apply for University funding Review anticipated cost-of-attendance budget

  11. INVESTING IN YOUR FUTURE PLANNING Deadlines Applications Planning Tuition and Fees are fixed costs. Health Insurance is required of all students. If you don’t have it, you must purchase it. Room, Board, and Miscellaneous are discretionary costs. Students should always investigate ways to minimize discretionary borrowing and, thereby, maximize the return on MBA investment. Note: Regulations restrict the amount students can borrow through loan programs.

  12. University Funding Need Access application Scholarship/fellowship essay One-page resume • Alternative Loans • Apply through your lender’s website INVESTING IN YOUR FUTURE APPLICATIONS Applications Deadlines Planning

  13. INVESTING IN YOUR FUTURE DEADLINES Deadlines Applications Planning Round 1 Round 2 Round 3 University Assistance March 13, 2009 April 24, 2009 June 5, 2009 Educational Loans May 15, or after University notification May 15, or after University notification June 15, 2009, or after University notification

  14. INVESTING IN YOUR FUTURE USEFUL WEBSITES Deadlines Applications Planning Wharton MBA Financial Aid - Information on grants/fellowships and links to external funding sources Student Financial Services – Information on student billing, budget plans, educational loans (including lender lists), and general University financial assistance policies FinAid! – Information on scholarships and loans, including calculators and detailed information on loan forbearance and deferment StudentLendingAnalytics - Sample list of rates and terms in the alternative loan industry. (Note: For information purposes only. Neither site nor lender endorsed by Wharton.)

  15. Financial Aid Contact Information Financial Aid Staff: Nathan Franklin, Senior Associate Director Tammy Carter, Associate Director LaKeisha Knight, Loan Coordinator Teresa Del Pizzo, Administrative Assistant Telephone: 215-898-8728 Fax: 215-898-0120 E-mail: Location: 420 JMHH