How to Seek Scholarships as an International MBA Candidate

moneyEvery year, the world’s top business schools become more and more expensive. There are various ways to pay for one’s MBA education, and for domestic students, the process is pretty straightforward. Many students will utilize loans as one of their primary forms of payments, others will pay out of pocket or enjoy the benefits of an employee sponsorship.

One of the most coveted forms of paying for an MBA is the scholarship, because it usually comes with no attached financial commitment to repay the money one is given. Now, these lucrative scholarships do not come easy, especially for international students. Free money is difficult to come by as is, but for international students, there are a few complicating factors.

The biggest challenge international students face with this process is the origin of the scholarship money – most scholarships that are applicable to MBAs at business schools in the United States usually come from domestic donors, and for this reason, the money is largely earmarked for domestic students. This leaves very little available money for international students. If you are an international student, make sure you use this information to research scholarships that are open to, or specifically target, international students.

Keep in mind, if you are applying from an over-represented group, this process may be even more competitive for you. With so many students applying for so little available money, attempting to secure a scholarship can be daunting, which makes it even more important to put your best foot forward in the application process (of course for admission purposes, but also for the limited available money). Candidates with top-notch profiles will obviously stand out in this phase of the process, as many scholarships are administered based on career potential and available scores and grades.

Do not limit your scholarship search simply to those provided by your school. Publicly available scholarships are certainly out there, and if your profile or career trajectory align with the requirements of the organization offering the scholarship, you may be “in the money.” Conducting a basic online search is a good way to find out what scholarships are available, and applicable, to you.

The best advice I can give to international students here is to try and get into the best and most reputed school possible – this will afford you the best career options and highest potential future income level, scholarship or not. Know the realities of the scholarship search and the unique challenges for international students, and set yourself up for success in securing financial support for your education.

Applying to business school? Call us at 1-800-925-7737 and speak with an MBA admissions expert today, or take our free MBA Admissions Profile Evaluation for personalized advice for your unique application situation! As always, be sure to find us on Facebook, YouTube, Google+ and Twitter.

Dozie A. is a Veritas Prep Head Consultant for the Kellogg School of Management at Northwestern University. His specialties include consulting, marketing, and low GPA/GMAT applicants. You can read more of his articles here.

SAT Tip of the Week: Earn Scholarships for Good SAT Scores

SAT Tip of the Week - FullMost high school seniors recognize the importance of doing their best on the SAT because they know that good SAT scores can help them get into the college of their choice. But what they may not know is that many colleges actually offer scholarships for SAT scores that are above average.

Students who achieve high SAT scores can qualify for a number of different scholarships that can help them pay for tuition, basic college supplies, and more while they are working towards their degrees. This makes it all the more critical for students to showcase their skills on this exam. Consider some facts about the SAT and how you can earn scholarships as a result of your hard work on this challenging test:

A Closer Look at SAT Scores for Scholarships
There are many colleges that offer scholarships for students who excel on the SAT, however, the specific requirements of these scholarships differ from school to school. For instance, one college may have a scholarship that’s open to students who score between 1330 and 1600 on the SAT, while another college may have a scholarship that requires students to have a minimum score of 1440 on the SAT. In many cases, both a student’s SAT scores and GPA are taken into account in examining their scholarship applications, as schools want as much information as possible about the academic work of a student before awarding them a coveted scholarship.

In addition to varying in value, these scholarships can also differ in the number of semesters they cover. In applying for these scholarships, you will want to check with the schools themselves to ensure you know exactly what terms their scholarships have before actually submitting your applications for them.

Why Do Colleges Offer Scholarships Based on SAT Scores?
Not surprisingly, colleges want to accept students who are going to succeed in their intellectual endeavors and add value to their programs, and typically, students who earn high SAT scores are likely to excel in their future college courses.

But an impressive SAT score is just one indication that a student is going to flourish at a particular school. Other indications of a promising student include a high GPA, dedication to extracurricular activities, and even volunteer work, which is why scholarship requirements will vary so much from school to school and include some of these other factors. All colleges want to accept students who will be excellent representatives of their school, and offering scholarships is one way to do that.

How to Find Colleges That Offer Scholarships for High SAT Scores
One way you can locate scholarships awarded for high SAT scores is to just do a basic online search – it should be relatively easy for you to find information about any scholarship on the web. If you have an interest in attending a particular college, it may be wise to also search the school’s official website for details of the scholarships it awards for high SAT scores. Talking to your high school counselor is another way to learn about college scholarships related to performance on the SAT, as your counselor should have access to many helpful resources you can utilize in your search.

How to Earn a High Score on the SAT
The first step toward winning this type of scholarship is to earn a high score on the SAT! Scholarships have deadlines just as college applications do, so it’s a good idea to research the cutoff dates for the scholarships that interest you. Scholarships are well within the reach of well-prepared students who approach the SAT with confidence, so taking a practice test will be a good place to start to build this confidence and help you determine what subjects to focus on in preparing for this test. Through this proper preparation and research, you’ll be well on your way to earning your own SAT scholarship.

Still need to take the SAT? We run a free online SAT prep seminar every few weeks. And be sure to find us on Facebook, YouTube, Google+ and Twitter!

How I Achieved GMAT Success Through Service to School and Veritas Prep

Service to School Bryan Young served in the United States Army as an enlisted infantryman for five years, with a fifteen month tour in Iraq from 06’-07’. After leaving the military in 2008, he completed a Bachelor’s Degree in Business Administration from the University of Washington. He started his career in the consumer packaged goods industry and is now looking to attend a top tier university to obtain an MBA. Along with help from Veritas Prep, he was able to raise his GMAT score from a 540 to a 690!

How did you hear about Veritas Prep?

I had been thinking about taking the GMAT for the last three years and knew that I would probably need the help of a prep course to be able to get a competitive score. Service to School, a non-profit that helps veterans make the transition from the military to undergraduate and graduate school, awarded me with a scholarship to Veritas Prep.

What was your initial Experience with the GMAT?

During my first diagnostic test, I was pretty overwhelmed. The questions were confusing and the length of the test was intimidating. Finishing the test with a 540 was a wakeup call for me. My goal was to score a 700 or higher and the score I achieved showed me just how much work I was going to need to put into the process.

How did the Veritas Prep Course help prepare you?

The resources that Veritas Prep provides are amazing. The books arrived within a few days and then I was ready to start taking the online classes. After a few classes I realized that I needed to brush up on some of the basics and was able to use their skill builders sections to get back on track. The online class format was great and helped me to learn the strategies and ask questions. Then the homework help line was where I was able to get answers on some of the more tricky questions I encountered.

Tell us about your test day experiences and how you felt throughout the experience?

The first two times I took the test I was still not as prepared as I need to be. The test day started well, but quickly went sour. I ran out of time on the integrated reasoning section and with my energy being low I wound up having my worst verbal performances.

One of the greatest aspects of Veritas Prep is that they allow you to retake the class if you feel like you need to take it again. The second time through the class helped me a lot more since I wasn’t struggling with not knowing some of the basics. This helped me to fully understand the strategies for the quant section and solidify my sentence corrections skills as well. One suggestion of eating a snickers bar (or some sugary snack) made a huge difference for my energy levels and concentration on test day.

After another month and a half of studying I took the GMAT again and was excited to see the 690 with an 8 on the integrated reasoning. The score was in the range I wanted and I couldn’t have been happier to be finished. Veritas Prep helped me so much throughout the year long process of beating the GMAT!

Need help preparing for the GMAT? Join us for one of our FREE online GMAT strategy sessions or sign up for one of our GMAT prep courses, which are starting all the time. And be sure to follow us on FacebookYouTubeGoogle+ and Twitter!

New Study Highlights the Growing Challenge of College Affordability

The Delta Project on Postsecondary Education Costs, Productivity, and Accountability has released a new study that reveals how college students and their families are picking up more and more of the costs as schools reduce the percentage of their budgets devoted
to instruction.

The Delta Project — a nonprofit organization that aims to shed light on the challenge of affordability in higher education — created the study to “follow the money” in higher education and try to determine why college tuition costs keep rising dramatically while the quality of instruction seems to get no better (and in some cases, get worse). The study paints a rather bleak picture: The schools where the most students are — state institutions and community colleges — spend the least on instruction per student. Where they have made spending cuts or diverted money away from programs that directly improve student instruction, it’s the students themselves that frequently make up the gap with their own dollars.

In 2006, the most recent year for which statistics are available, students are public schools paid for about half the cost of their education, up from approximately 40% just four years earlier. Students actually pay even more of their share at private schools: Their share rose from about 58% in 2002 to more than 63% in 2006.

The report paints the picture of growing administrative overhead gobbling up schools’ budgets, with the percentage of budgets growing at all types of schools from the mid-1990s to 2006. Meanwhile, in all cases at all schools, students’ tuition fees rose faster than spending, with some of this difference going toward increasing overhead.

Compounding the problem for public universities and community colleges, these schools are also the ones that are most likely to feel the brunt of budget cuts at the state and federal level. Assuming government spending on education faces more cuts in the coming year, The Delta Project predicts that these trends may even accelerate. While the U.S. higher education system is still the class of the world, the growing affordability gap threatens to undo this strength in the near future unless something changes soon.