Financial Aid
We have had an exciting year reviewing our financial aid policies. We first studied how our peer MBA programs have been allocating their fellowship awards and discovered that over the last decade, the majority of our peer programs have been moving to a merit, rather than a need-based, financial aid model. These schools do not consider the student’s financial situation; instead, they determine who gets a fellowship award by assessing who would be most valuable to the class composition.
After reviewing the school landscape, we spent several months speaking to our students, faculty, staff, and alumni to develop a shared set of principles which could guide our financial aid policies. The three principles that arose from these discussion are: Fairness, Access, and Excellence. We want to have a system that treats students equitably, that enables anyone to come to Stanford GSB regardless of their financial situation, and that supports our efforts to craft a competitive and diverse class.
Based on these principles, we have decided to provide our fellowship awards solely based on need. So, why should candidates care? Regardless of your financial situation, you will be able to come to Stanford. Our system is progressive, so those with the greatest need will receive the largest awards. A need-based system also limits indebtedness for all students, so you will not have to take on high levels of debt to graduate. We provide one of the highest average awards per student of any school through the generosity of our alumni, with average awards of $35,000 per year. And lastly, at Stanford, you will join a community that believes all students are equally valuable and will contribute to the community. Anyone we admit we believe will be critical to the success of our community.
Thank you for taking the time to speak with me. My goal is to help anyone who wants to pursue an MBA education put their best foot forward in the process. If you believe you are capable of changing lives, changing organizations, and changing the world, we want to hear your story. We are all excited to learn more about you.
