Financial Aid Conversation with Chicago GSB

One the biggest considerations when applying to business school is financial aid. Generally speaking, the cost of attending a full-time, two year MBA program is about $100,000. University of Chicago‘s admissions director recently spoke to BusinessWeek.com about handling the costs of school. Overall, she stressed that Chicago, like all schools, is committed to working with students to find a solution to financing school through a combination of loans and scholarships. Also for international students in need of financial aid, Chicago guarantees help – whatever they need to borrow in loans is given to them. She also stressed that an MBA must be seen as a long-term investment, and that students are on track to receive great job offers.

She also had a few tips for individuals planning to attend school:
* Get your finances in order first
* Think about living slightly below your means before school.
* Save as much as possible
* Avoid credit card debt
* Scale back on things you don’t need (including big things like a car if you don’t need one)

Finally, she stressed that just because you can borrow money, it doesn’t mean that you should.

You can read the entire article here.