slide1 n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
FINANCING YOUR WHARTON MBA PowerPoint Presentation
Download Presentation
FINANCING YOUR WHARTON MBA

Loading in 2 Seconds...

play fullscreen
1 / 15

FINANCING YOUR WHARTON MBA - PowerPoint PPT Presentation


  • 114 Views
  • Uploaded on

FINANCING YOUR WHARTON MBA. 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. PUTTING THE PIECES TOGETHER. University Assistance. Educational Loans.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'FINANCING YOUR WHARTON MBA' - sumana


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.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
slide2

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

slide3

PUTTING THE PIECES TOGETHER

University Assistance

Educational Loans

Outside Assistance

Personal Resources

slide4

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 www.sfs.upenn.edu
slide5

INVESTING IN YOUR FUTURE OUTSIDE ASSISTANCE

  • Scholarships
  • Club, religious, community affiliations
  • Online resources
  • www.finaid.org
  • www.collegeboard.com
  • Outside sponsorships
  • Corporate fellowships
  • Company sponsorships
  • Family and friends
slide6

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
slide7

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
slide8

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
investing in your future now what
INVESTING IN YOUR FUTURE NOW WHAT?

Planning

Applications

Deadlines

investing in your future planning

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

investing in your future planning1
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.

slide12

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

slide13

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

slide14

INVESTING IN YOUR FUTURE USEFUL WEBSITES

Deadlines

Applications

Planning

Wharton MBA Financial Aid - http://www.wharton.upenn.edu/mba/admissions/finance/

Information on grants/fellowships and links to external funding sources

Student Financial Services – www.sfs.upenn.edu

Information on student billing, budget plans, educational loans (including lender lists), and general University financial assistance policies

FinAid! – www.finaid.org

Information on scholarships and loans, including calculators and detailed information on loan forbearance and deferment

StudentLendingAnalytics - http://www.studentlendinganalytics.com/alternative_loan_options.html

Sample list of rates and terms in the alternative loan industry. (Note: For information purposes only. Neither site nor lender endorsed by Wharton.)

financial aid contact information
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: mba.finaid@wharton.upenn.edu

Location: 420 JMHH