Financial Aid Information

By: Stefanie

It’s getting to be that time of year when admitted students – as well as those beginning to research b-schools for next year’s application cycle – inquire about financial aid options at the Simon School.  There is detailed information on our website itself, but I will try to sort it out for you here as well:

Merit-Based Scholarship: the Simon School offers merit-based scholarship to well qualified full-time admitted students – regardless of program (M.B.A. or M.S.) or citizenship (we make no distinction between internationals and domestic students).  "Merit-based" means your candidacy as determined by all parts of your application and also as compared with other admitted students.  Any scholarship offer is given at the time of admission.

Loans and Other Financial Aid: most likely, you will need additional funding for study and living expenses – regardless of whether or not you were offered a scholarship.  In general, to receive U.S. federal loans or supplemental educational loans, you need to be a U.S. citizen or permanent resident.  Some options may be available to internationals who have lived 3 years or more in the U.S. and also have an established credit history.  For more information on loans, please go to the University of Rochester Financial Aid Office website.  Please pay careful attention when on this website to choose the options for "Graduate Students" as there is information that does not apply to Simon students – for example, the information for undergraduate international students.

A common form that will be needed for most Simon students will be the "Graduate Financial Aid Application" and this is now available for the 2008-2009 academic year.  Additionally, U.S. citizens should also complete the FAFSA for consideration for federal student loans.

In addition, M.B.A. students should keep in mind other sources of funding during their time in b-school:
– summer internship: generally, these are paid positions and average about $1200 per week
– graduate assistantship: a student can seek out a TA or research position in their 2nd year based upon their 1st year Simon School GPA – typically the top 15-20% of the class is considered for a GA position.
– part-time job: as a 2nd year student you may apply for a part-time on-campus job as a student worker by utilizing the UR job board

Due to the short duration of M.S. programs (9-11 months), part-time work is not advised as each M.S. student will be busy with their coursework and full-time job search.  In addition, an internship is NOT a part of any of Simon’s M.S. programs.

For more information on financial aid, please contact the Office of Financial Aid:
Phone: 1-585-275-3226 or within the U.S. toll-free 1-800-881-8234

Remember: it is never too soon to start planning how to finance your graduate business study!

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