FINANCING YOUR WHARTON MBA

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FINANCING YOUR WHARTON MBA
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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
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PUTTING THE PIECES TOGETHER
University Assistance
Educational Loans
Outside Assistance
Personal Resources
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INVESTING IN YOUR FUTURE PERSONAL RESOURCES
Savings and investments Checking and savings
accounts CDs/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
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INVESTING IN YOUR FUTURE OUTSIDE ASSISTANCE
Scholarships Club, religious, community
affiliations Online resources www.finaid.org
www.collegeboard.com Outside sponsorships Corpor
ate fellowships Company sponsorships Family
and friends
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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

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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

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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

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INVESTING IN YOUR FUTURE NOW WHAT?
Deadlines
Applications
Planning
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INVESTING IN YOUR FUTURE PLANNING
Deadlines
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

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INVESTING IN YOUR FUTURE PLANNING
Deadlines
Applications
Planning
Tuition and Fees are fixed costs. Health
Insurance is required of all students. If you
dont 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.
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INVESTING IN YOUR FUTURE APPLICATIONS
Deadlines
Applications
Planning
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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
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INVESTING IN YOUR FUTURE USEFUL WEBSITES
Applications
Planning
Deadlines
Wharton MBA Financial Aid - http//www.wharton.upe
nn.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.)
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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 [phone] E-mail
mba.finaid_at_wharton.upenn.edu Location 420 JMHH