Since we started the topic of adulting recently… Here’s a tip in the category of planning ahead! Because we just know you’re going to land an admit to some school this year!!
Up to this point, we’d hazard a guess that 99.9% of your time in preparing for this huge big leap in your life has been spent
mindlessly posting on MBA applicant forums working on the GMAT and essays.
But what happens when you really get IN?!?
You know this thing’s gonna be expensive, but that’s an undefined vague blog of knowledge in the back of your head, like how you know that global warming is real and at some point in the future your life is going to change and you’re going to have to deal with it.
It seems that nothing rises faster in this world than the cost of education, except perhaps the toll on the George Washington Bridge.
What’s one thing you can do now to hopefully ease the pain of the prospect you are going to be facing later on with the financing part?
Here’s what we heard from some school (was it Columbia? unfortunately we’re not able to h/t this correctly since we failed to take note of where we saw it):
At the beginning of the application process, applicants should pull a copy of their credit report in advance to check for discrepancies, as the credit report and score are the largest components in determining eligibility and interest rate tier.
Different schools are better (or worse) about conveying useful information to applicants on their public-facing admissions website. Sometimes you can’t even easily locate the tuition and financing section of the school’s site at all. We suggest taking the time to dig through the sites of any school you’ve applied to, or at minimum of the ones you’re interviewing at — but really, all can be valuable now, since they cover things from different angles and different degrees of transparency.
Not only should you take a look at those $$$ estimates, which are jaw-dropping and breath-taking and not in a good way. But you should also take a look at your own situation.
Don’t wait till December when you get final word of your admit before you start doing this.