I know Notre Dame - Mendoza School of Business is a top ranked school and everything, but I can’t afford to go there without a full ride scholarship.
I noticed on the school’s website that they have a number of full ride fellowships which they award to some MBA students, but they didn’t mention how many fellowships there are, nor did they say what criteria they use to chose students who are awarded these fellowships.
So I was wondering, what percentage of students receive these fellowships? And what are my chances to receive one of these fellowships, if I am accepted into the program, being an average student?
“Full Ride Fellowships” are rare. To my understanding, a “full ride scholarship” would cover, at a minimum, tuition, fees & housing. Books & food might also be included.
With respect to MBA program scholarships, the University of Utah–Eccles is very generous.
My first instinct when I read this thread was that this was an advertisement of a particular MBA program’s scholarship or fellowship. If so, then thank you for sharing this information.
University of Notre Dame’s Mendoza school of business MBA program is currently ranked at #31 alongside Ohio State & Penn State.
I did not find any full ride or other substantial scholarships or fellowships on Mendoza’s website. Lots of tuition discounts/partial scholarships which Mendoza call fellowships. But nothing worthwhile or exciting.
What exactly does that mean, given that UND itself is a non-profit? Do you mean that Mendoza’s MBA program generates a positive change to the reserve balance to pony-up to the university proper and/or stash away for future projects, or are you saying it’s legally incorporated as a tax-paying corporate entity with shareholders, etc. that is somehow affiliated with UND? The former doesn’t generate profits, the latter tends to.
I think that that poster meant that many masters degree programs generate excess cash that can be used to fund other less lucrative university operations.
An example is of how many universities regard their affiliated law school = seen as a cash cow to fund other university endeavors.
^ Well, many law schools are exactly that of course. But so areundergraduate programs using the “tuition model” of revenue generation.
The #1 reason for a professional school to offer scholarships would be to entice the top kids (who will in turn become top alums and top benefactors) or to get the kind of class you want for diversity reasons. An MBA from a top program can increase someone’s permanent income by a good amount, so expecting merit in general is unrealistic. Many who have low amounts of debt on their books can borrow 100% of the amount and repay it in a few years, assuming that the school is prestigious enough (many aren’t so sticking to the top-ranked programs is best). Mendoza is top 30 which is decent - it also costs less than the tippy top. But OP might look into his/her in-state MBA program at the flagship - if ranked higher and with lower tuition, that might be a significantly better deal.
@Publisher Check out the two year MBA Program on Mendoza School of business please (Meyer, Brogan). These are full fellowships aren’t they? I don’t know what my chances are of getting one but if my chances are high I will apply. Otherwise, its not worthwhile since I can’t go there on my expense.
The Brogan is awarded to four female full time MBA students after completion of the first year of the two year program.
The website says 80 percent receive other fellowships, but does not specify amounts or benefits so it might just be a way of offering tuition discounts…
The website didn’t offer much readily available specific information about the Meyer award.
@Jenny005 The website does say 80%+ of students receive some merit aid: “More than 80% of two-year MBA students are awarded a fellowship. Recipients are selected for these fellowships based on academic performance, prior work experience, GMAT or GRE scores, leadership potential, letters of recommendation, and each applicant’s personal statement.” What we don’t know is how much merit aid we are talking.
There are probably less than a handful of Meyer fellows and I expect they are very competitive, geared to attract those who could otherwise attend an M7 school. Brogan is only for second year (4 women who have highest GPA from first year), leaving the first year’s $55K tuition unfunded (as well as room and board costs). I don’t know how much money (if any) the Forte fellows receive.
When deciding whether to take nearly two years out of your career for MBA school you really have to assess the overall financial picture, in addition to any career boost or opportunity you expect it to bring. So in addition to the cost of the program ($150K), you will miss out on earnings (except for a one summer internship). You may also miss out on an opportunity for promotion at your current company. Having to take on debt to attend also adds to the financial burden of the decision.
What are your stats? (Undergrad GPA, GMAT) Undergrad school? What is your current career, how many years experience, and what are your career goals? How would an MBA from Notre Dame help you attain those goals?
@Publisher Exactly. That’s why I was hoping to find information about the number of fellowships, such as the Meyer fellowship, and the amount awarded. I couldn’t find anything helpful on the school’s website.
@Mwfan1921 So you’re saying that the Meyer fellowship probably won’t be awarded to a somewhat average student?
I am an accountant (3.2 undergrad GPA, 710 GMAT score). I’ve actually reached a dead end in my current job, so I am not worried about things I’ll miss out on if I take a couple of years off for school.
I’m not so sure about Notre Dame, but I am sure I want to go to a well ranked school which is also affordable (by being awarded a scholarship, aid, etc.) I have been told that Notre Dame Mendoza school of business gives out full-ride scholarships to MBA students, and I know it is a very highly ranked school that’s why I was considering going there.
Correct. As other posters have stated above these are merit based scholarships and generally given only to top applicants. Although you have an above average GMAT, your ug GPA is below average for those seeking an MBA. Where did you go to undergrad? For how long have you worked?
If you are in a dead end job, have you started looking for a new one? Accountants are in demand…have you taken the CPA test? If not, is that something of interest?
Above you say you can’t go to Mendoza without a full ride scholarship, so perhaps focus on working and saving money for the next few years. When looking for a job I would also strongly encourage you to look at companies that have a tuition benefit, and consider going to MBA school part-time while you are working. There are many MBA schools that have part-time programs, so based on where you live (or if you can move for a new job), this list may help you get started: https://www.usnews.com/best-graduate-schools/top-business-schools/part-time-rankings
Part-time MBA programs also tend to have lower requirements re: ug GPA and GMAT than the full time program at the same school----this is especially true if you are working at a large company that the part-time program has a good relationship with. Good luck.
MBA applicants are evaluated not only on the basis of GMAT & GPA, but also on the applicant’s accomplishments during the interceding work years between undergraduate school graduation & time of one’s application to MBA programs. If you had a dead end accounting job, then that could be a weakness in your application.
Additionally, MBA programs examine an applicant’s stated career goals in light of their work experience & whether the MBA program is a match toward achieving that goal.
Some MBA programs need female students. This, and your superior GMAT score, might result in a substantial scholarship offer from Notre Dame as the male/female ratio is about 74%/26%.
Have you worked with the Forte Foundation ?
Did you earn a CPA license during your time working ? Were you with a Big 4, a major regional accounting firm or some other type of business or firm ?
If you answer some of the questions that posters have asked above, the CC community can better help you target programs and/or identify viable options for you.
@Mwfan1921 , @Publisher First of all, thank you very much for all the advice.
I have been working for about 4 years in Wiss. Haven’t taken the CPA yet because I’ve been thinking about switching industries. I’m thinking about getting an MBA now because I’m not sure about continuing working in accounting. Apart from feeling that I have reached a dead end, I feel that this field may not be right for me. I haven’t given much thought into what I want to do if not accounting, but I was hoping an MBA will help me figure that out.