What does tuition for Wharton’s executive MBA program include? What loan options are available? How long does it take to apply for a student loan? These were just a few of the questions discussed during a recent webinar on financial aid.
Lakeisha Bishop, director of financial aid for Wharton MBA Admissions, and Cathy Molony, director of admissions for Wharton’s Executive MBA Program, began the webinar highlighting how the tuition rate remains the same during students’ two years at Wharton. Tuition, which includes living expenses, accommodations, and all course materials and required electronic devices, is locked in during the program.
Sponsorship and Loans
They explained how the first step in seeking funding involves sponsorships from employers. Students with more than 10 years of work experience need a letter from their employer stating:
1) that the organization will provide the necessary time off for Wharton’s EMBA program; and
2) how much money the employer will provide for tuition and fees. Students with less than 10 years of experience are considered Fellows. Full financial sponsorship is usually required for Fellows.
For students who are self-funded or not fully sponsored, there are several loan options available to both U.S. citizens and international students.
When asked if students can make their own hotel arrangements, the answer was no. Whether students live six blocks away or 6,000 miles away, they all stay at the same hotel (either in San Francisco or Philadelphia), as this is an important part of the residential aspect of Wharton’s program. By dining and studying together during the evenings, students form relationships that last long after graduation.
Military Programs and Loan Forgiveness
Lakeisha and Cathy also discussed military programs. They explained how Wharton is committed to the Yellow Ribbon Program and is in full support of veteran and active military students.
Loan forgiveness was another topic covered during the Webinar. For students working in the public and nonprofit sectors, Wharton offers the John M. Bendheim Loan Forgiveness Fund for Public Service. After graduation, eligible students can apply to this program, which forgives up to $20,000 a year in loans.
Posted: March 4, 2014