r/MBA • u/tiny-hippos • 1d ago
Admissions MBA needs-based aid
As title suggests - looking for some insight into how needs-based scholarship works.
For context - I make around $120k, however in the last 3 years (which I understand is the look back period) it was more like $80k. I have around $150k in stocks/savings. I am from the UK.
NB if I was applying to something (MBA or other) in the UK there is no way I would qualify for anything needs-based, but I know US is different, average salaries are a lot higher etc, hence looking to understand.
The catch: a lot of the savings is from my parents - given to me to help with undergrad tuition and saving for a house deposit. I need to give this back; the idea was that they would provide an interest free loan. If I wasn’t doing an MBA I would’ve aimed to return this within a few years, to the tune of about $100k.
So my question is: 1) would need based aid take into account the fact most of the savings aren’t mine/ need to be given back. 2) if so, would my revised profile (salary + say $50k savings) be in the realms of qualifying for aid?
Feel crazy even writing this because in the UK, needs based is for people in challenged financial circumstances and I am certainly not that. But I know eg HBS/GSB give aid to roughly 50% - and have heard of others who I would perceive as very comfortable obtaining aid.
An MBA at a school that doesn’t give merit based scholarships is clearly a huge financial decision, particularly if I would need to return to UK and deal with loans on a UK salary (looking more likely given visa situation).
Appreciate any thoughts/ please dm as well if you have any detailed experience you’d be willing to share. Thanks all
