As a percentage, how many people take out loans each year? And separately, how many people are able to grab merit-based scholarship annually?
Of the entire student body — which is about 700 full-time MBA students — about 72% of them are on some type of financial aid. Fellowships really differ for entering (first year) and continuing (second year) students. Our entering fellowships are purely merit-based, and they’re hand selected by our admissions committee. We have about 12% of our entering class on merit fellowships that average about $15,000. So if the recipient is a California resident, that would cover their full tuition and fees. But if they’re a nonresident, it doesn’t quite make that mark. Our second-year students apply for fellowships, and they’re about 15% of our second-year students. Those awards range from $4,000 up to $10,000.
Related Questions
- International students aren really eligible for a sizable loan until their second year. Do they qualify for merit-based scholarship aid prior to their second year?
- Many more MBA students end up taking out loans than earning merit-based fellowship. How many people at Olin go to the bank to negotiate loan terms?
- Are poor people able to repay their loans?