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Free APPLICATION from Havard, but it is for needs base student - Imbanewbie - 06-18-2021
https://poetsandquants.com/2021/06/17/how-to-apply-to-harvard-business-school-for-free/?pq-category=business-school-news
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RE: Free MBA from Havard, but it is for needs base student - ss20ts - 06-18-2021
So wait.... they'll waive the $250 application fee - which is an absolutely absurd amount for an application - if you can prove a financial hardship but they charge you $73,000+ in tuition? That $250 is pocket change compared to $73,000.
RE: Free MBA from Havard, but it is for needs base student - sanantone - 06-19-2021
You can't use financial aid to pay the application fee, so getting rid of it encourages more low-income prospects to apply. Considering the low acceptance rate, even those who can afford the fee probably wouldn't pay it. Once they get in, they can take out loans or receive other forms of financial aid. Half of HBS students receive a fellowship.
RE: Free MBA from Havard, but it is for needs base student - ss20ts - 06-19-2021
(06-19-2021, 12:54 AM)sanantone Wrote: You can't use financial aid to pay the application fee, so getting rid of it encourages more low-income prospects to apply. Considering the low acceptance rate, even those who can afford the fee probably wouldn't pay it. Once they get in, they can take out loans or receive other forms of financial aid. Half of HBS students receive a fellowship.
Grad students federal loans are capped at $20,500 per academic year. Even a fellowship covering half of the $73,000+ tuition isn't going to be covered by a federal student loan. Maybe one could get private loans to cover that difference. This an awful lot of debt for someone who is low income.
RE: Free MBA from Havard, but it is for needs base student - sanantone - 06-19-2021
(06-19-2021, 04:00 PM)ss20ts Wrote:There's no cap on Grad Plus loans.(06-19-2021, 12:54 AM)sanantone Wrote: You can't use financial aid to pay the application fee, so getting rid of it encourages more low-income prospects to apply. Considering the low acceptance rate, even those who can afford the fee probably wouldn't pay it. Once they get in, they can take out loans or receive other forms of financial aid. Half of HBS students receive a fellowship.
Grad students federal loans are capped at $20,500 per academic year. Even a fellowship covering half of the $73,000+ tuition isn't going to be covered by a federal student loan. Maybe one could get private loans to cover that difference. This an awful lot of debt for someone who is low income.
RE: Free MBA from Havard, but it is for needs base student - Old Guy - 06-19-2021
If family income is less than something like $65,000 Harvard is always tuition free.
RE: Free MBA from Havard, but it is for needs base student - ss20ts - 06-19-2021
(06-19-2021, 04:45 PM)Old Guy Wrote: If family income is less than something like $65,000 Harvard is always tuition free.
That's for undergrad.
(06-19-2021, 04:30 PM)sanantone Wrote:(06-19-2021, 04:00 PM)ss20ts Wrote: Grad students federal loans are capped at $20,500 per academic year. Even a fellowship covering half of the $73,000+ tuition isn't going to be covered by a federal student loan. Maybe one could get private loans to cover that difference. This an awful lot of debt for someone who is low income.There's no cap on Grad Plus loans.
I wasn't talking about grad plus loans. I just looked up grad plus loans and the are not given away the same was as the sub and unsub loans. You have to have a good credit history which most people with low income do not have. You're also capped based on the tuition so you're on your own for living expenses. Most folks who are low income don't have a way to repay those loans especially if they withdraw from the university. Student loans SUCK!
https://studentaid.gov/understand-aid/types/loans/plus/grad
RE: Free MBA from Havard, but it is for needs base student - sanantone - 06-19-2021
(06-19-2021, 04:58 PM)ss20ts Wrote:People are only rejected for Grad Plus loans for having delinquent debt. They don't check credit scores. Also, the awarded amount is based on cost of attendance and the results of your FAFSA. In other words, you can get a refund check or deposit for excess funds; they're not just distributing enough to cover tuition and fees. Yes, student loans suck, but the reason for waiving the application fee is that some people can't afford to pay that out of pocket. We don't know what kinds of scholarships they might qualify for or if they're receiving tuition assistance from an employer. I'm saying this as someone who came from an economically disadvantaged family and who has worked low-paying jobs that offered some tuition reimbursement. The point of getting a Harvard MBA is that it has a high ROI.(06-19-2021, 04:45 PM)Old Guy Wrote: If family income is less than something like $65,000 Harvard is always tuition free.
That's for undergrad.
(06-19-2021, 04:30 PM)sanantone Wrote:(06-19-2021, 04:00 PM)ss20ts Wrote: Grad students federal loans are capped at $20,500 per academic year. Even a fellowship covering half of the $73,000+ tuition isn't going to be covered by a federal student loan. Maybe one could get private loans to cover that difference. This an awful lot of debt for someone who is low income.There's no cap on Grad Plus loans.
I wasn't talking about grad plus loans. I just looked up grad plus loans and the are not given away the same was as the sub and unsub loans. You have to have a good credit history which most people with low income do not have. You're also capped based on the tuition so you're on your own for living expenses. Most folks who are low income don't have a way to repay those loans especially if they withdraw from the university. Student loans SUCK!
https://studentaid.gov/understand-aid/types/loans/plus/grad
RE: Free MBA from Havard, but it is for needs base student - ss20ts - 06-19-2021
(06-19-2021, 06:09 PM)sanantone Wrote:(06-19-2021, 04:58 PM)ss20ts Wrote:People are only rejected for Grad Plus loans for having delinquent debt. They don't check credit scores. Also, the awarded amount is based on cost of attendance and the results of your FAFSA. In other words, you can get a refund check or deposit for excess funds; they're not just distributing enough to cover tuition and fees. Yes, student loans suck, but the reason for waiving the application fee is that some people can't afford to pay that out of pocket. We don't know what kinds of scholarships they might qualify for or if they're receiving tuition assistance from an employer. I'm saying this as someone who came from an economically disadvantaged family and who has worked low-paying jobs that offered some tuition reimbursement. The point of getting a Harvard MBA is that it has a high ROI.(06-19-2021, 04:45 PM)Old Guy Wrote: If family income is less than something like $65,000 Harvard is always tuition free.
That's for undergrad.
(06-19-2021, 04:30 PM)sanantone Wrote:(06-19-2021, 04:00 PM)ss20ts Wrote: Grad students federal loans are capped at $20,500 per academic year. Even a fellowship covering half of the $73,000+ tuition isn't going to be covered by a federal student loan. Maybe one could get private loans to cover that difference. This an awful lot of debt for someone who is low income.There's no cap on Grad Plus loans.
I wasn't talking about grad plus loans. I just looked up grad plus loans and the are not given away the same was as the sub and unsub loans. You have to have a good credit history which most people with low income do not have. You're also capped based on the tuition so you're on your own for living expenses. Most folks who are low income don't have a way to repay those loans especially if they withdraw from the university. Student loans SUCK!
https://studentaid.gov/understand-aid/types/loans/plus/grad
That ROI is only is you graduate though. So many people coming from low income backgrounds don't have the support system to make it through Harvard. Harvard is no joke. It's not an easy school. If one went to a state school then Harvard is going to be really challenging because you don't have the background that many others will have.
The title of the thread is "Free MBA from Harvard". The MBA is NOT free. The application is free. HUGE difference! That was my original point. The $250 is barely pocket change compared to the $73,000+ tuition. If you can't afford the application how are you going to afford the tuition? What are they doing to help low income applicants? They need to do more than just give a free application. The school has an endowment larger than many nation's GDP and budgets. They can afford to help.
I grew up with a family in turmoil. I was homeless several times from my childhood into my early 20's. So I really do understand coming from a low income family.
RE: Free MBA from Havard, but it is for needs base student - sanantone - 06-19-2021
(06-19-2021, 08:54 PM)ss20ts Wrote:(06-19-2021, 06:09 PM)sanantone Wrote:(06-19-2021, 04:58 PM)ss20ts Wrote:People are only rejected for Grad Plus loans for having delinquent debt. They don't check credit scores. Also, the awarded amount is based on cost of attendance and the results of your FAFSA. In other words, you can get a refund check or deposit for excess funds; they're not just distributing enough to cover tuition and fees. Yes, student loans suck, but the reason for waiving the application fee is that some people can't afford to pay that out of pocket. We don't know what kinds of scholarships they might qualify for or if they're receiving tuition assistance from an employer. I'm saying this as someone who came from an economically disadvantaged family and who has worked low-paying jobs that offered some tuition reimbursement. The point of getting a Harvard MBA is that it has a high ROI.(06-19-2021, 04:45 PM)Old Guy Wrote: If family income is less than something like $65,000 Harvard is always tuition free.
That's for undergrad.
(06-19-2021, 04:30 PM)sanantone Wrote:(06-19-2021, 04:00 PM)ss20ts Wrote: Grad students federal loans are capped at $20,500 per academic year. Even a fellowship covering half of the $73,000+ tuition isn't going to be covered by a federal student loan. Maybe one could get private loans to cover that difference. This an awful lot of debt for someone who is low income.There's no cap on Grad Plus loans.
I wasn't talking about grad plus loans. I just looked up grad plus loans and the are not given away the same was as the sub and unsub loans. You have to have a good credit history which most people with low income do not have. You're also capped based on the tuition so you're on your own for living expenses. Most folks who are low income don't have a way to repay those loans especially if they withdraw from the university. Student loans SUCK!
https://studentaid.gov/understand-aid/types/loans/plus/grad
That ROI is only is you graduate though. So many people coming from low income backgrounds don't have the support system to make it through Harvard. Harvard is no joke. It's not an easy school. If one went to a state school then Harvard is going to be really challenging because you don't have the background that many others will have.
The title of the thread is "Free MBA from Harvard". The MBA is NOT free. The application is free. HUGE difference! That was my original point. The $250 is barely pocket change compared to the $73,000+ tuition. If you can't afford the application how are you going to afford the tuition? What are they doing to help low income applicants? They need to do more than just give a free application. The school has an endowment larger than many nation's GDP and budgets. They can afford to help.
I grew up with a family in turmoil. I was homeless several times from my childhood into my early 20's. So I really do understand coming from a low income family.
I agree that the thread title is false. I also agree that Harvard can afford to cover more tuition, but wealthy schools often do cover tuition for research-oriented graduate programs that have assistantships. With professional programs, such as the MBA, law school, and the health professions, there's usually little aid. Harvard's selectivity almost ensures a high graduation rate, and Harvard is known for grade inflation. It's debatable whether Harvard or any other Ivy League school is really that much more difficult than the top public universities that are also highly selective. Many people go from top public schools to Ivy Plus schools for graduate and first professional degrees. A student who scores low on the GMAT or GRE is likely not getting into Harvard's MBA program, and we know that these tests strongly correlate with socioeconomic background. For outliers like myself, who were very poor and managed to score high on graduate admissions tests, Harvard might be a possibility.
I don't know if you have this impression that I was lower middle class or working class, but my family was among the poorest of the poor. Like often not having anything to eat poor or about to have our electricity cut off poor. My mother was a single parent and couldn't work because of severe mental health disorders. So, I am fully aware of the difficulties, but we're talking about graduate school for people who already have bachelor's degrees. They may or may not be making much, but they are likely not dirt poor. If you're homeless, entering a full-time MBA program at Harvard is probably the last thing on your mind.