The acceptance rate of the super-selective Ivy League is extremely low. There is a record number of high school students who are applying for college straight out of high school – more than 60 percent, according to David Hawkins, director at the National Association of College Admission Counseling. Meantime, the number of students applying for college is increasing each year. According to the federal Department of Education, this year will feature the highest number of high school graduates, 3.2, almost a million up from five years ago.
Recent admission trends indicate that even though you have a high GPA and good or perfect SAT scores, it’s not a given that you’ll get admission to your first choice school, so it’s wise to have as many back-ups as you can to optimize the final result of your college application process without waiting for another entire year. As a matter of fact, many students are applying to as many as 10 or 15 universities. This is primarily attributed to the Common Application form, which can be downloaded from the Internet and sent online to as many as 300 schools nationwide.
However, the results of this survey of first-year college students is relieving: 70% of these students say that they ended up at their first choice school, and most students are ultimately happy with their choice of college. At first this may seem surprising, especially since schools like Yale accepted fewer than ten percent of the 20,000 students who applied last year, and both Harvard and Columbia accepted just more than 10 percent, but there are many reasons why students end up at specific schools, as both the students and the college make great endeavors to find a right fit.
Most of us think that getting a management education simultaneously means earning an MBA and accumulating a large amount of debt in student loans. Inspired by a recent article from BusinessWeek which challenged this notion with a report on full-tuition fellowships, we performed extensive research and data collection on our own and summarized our findings in three segments.
Today, we will present key data of full-tuition fellowships from many of the top US management programs including Berkeley’s Haas, Columbia, and University of Chicago. In the next two articles, we will cover major non-US schools.
During your application process, do not overlook these fellowships. Many schools usually require one extra essay or interview to be eligible for a two-year, full-tuition fellowship. The list of fellowships at the schools below may surprise you.
University of Chicago
Number of fellowships awarded to 2008 entering class: 11
Average class size for full-time MBA program: 550
How to apply: Most admitted applicants are automatically considered at the time of the application, but many have additional required interviews as part of the final selection process. All of the fellowships have a mentoring component.
Number of fellowships awarded to 2008 entering class: About 25
Average class size: 1,196
How to apply: Automatically considered with application
Number of fellowships awarded to 2008 entering class: 25
Average class size: 918
How to apply: Scholarships are awarded based on financial need. To apply, complete and submit a financial aid application upon admission
California Berkeley Haas
Number of fellowships awarded to 2008 entering class: 14
Average class size: 250
How to apply: For most of the fellowships, students automatically quality with application. For one particular fellowship, an additional essay is required.
Number of fellowships awarded to 2008 entering class: 10-12
Average class size: 375
How to apply: Automatic consideration with application
Number of fellowships awarded to 2008 entering class: 10
Average class size: 825
How to apply: Selection is based on the a number of criteria such as personal background, leadership, and integrity. Students who fit the criteria must complete a separate financial aid form.
Number of fellowships awarded to 2008 entering class: 61
Average class size: 632
How to apply: All admitted applicants are considered. For one fellowship, a separate application is required
Number of fellowships awarded to 2008 entering class: 11
Average class size: 180
How to apply: All applicants are considered for merit scholarships
The bottom line is that it is definitely worthwhile to perhaps write an extra essay if it means earning a savings of $200,000 for your education. For many of the fellowships, all admitted applicants qualify.
For a list of more business schools that offer full-tuition fellowships, please refer to this insightful article in BusinessWeek.
Yale’s School of Management (SOM) recently made some significant adjustments to its core curriculum. The revised program enables students to take classes organized around constituencies such as customers and employees. Meantime, Yale’s SOM is looking to change its admissions process as a whole and increase the number of international students in its class. The school also announced plans for the construction of a new building. On December 11th a forum was held to discuss these various changes. Attendees were a group of prospective students and BusinessWeek. Bruce DelMonico, the Yale Admissions Director, and two Yale students, Abby Kowaloff and Michael McLaughlin answered their questions.
When asked to describe the purpose of the curriculum changes, DelMonico explained how the new program was designed to improve students’ learning experience in a broader way. He explained that the school’s goal is to train people for leadership roles in business. To do this, students need to learn to be able to cope with all the important aspects of the business world, including leading others. The new curriculum proposes to help make this possible.Questions emerged concerning the increase of the class size. It is estimated that about 300 or so more students will be accepted per year when this construction completes in 2011.
The admissions interview process was also a major topic. The audience was especially concerned with how interviewers prepare for an interview and how quickly they evaluate once it is complete. On-campus interviews are conducted by trained second year students. These interviewers have access to candidates’ applications before the interview. The interviewer will write a report of the interview usually within 24 hours in order to accurately evaluate a prospective student.Scholarship eligibility was another concern addressed. When an application is being reviewed, it is also decided whether a student merits a scholarship. If so, the notification will be sent out at the time of admission.
SOM is cited as having one of the lowest percentages of international students among top US B-schools. The panel explained how the admissions board is looking to not only increase diversity in regards to student bodies’ fields of study, but also to expand the diversity of the students’ origins. SOM would like their student body to reflect their international focus. Therefore, ongoing strategies have been implemented to have more interviews done out of the country to recruit international students.International Experience, SOM’s study abroad program, was a major topic as well. In this program a student travels for a 10 day excursion to study in a foreign country. These travels blend cultural exploration with top-level executive meetings. If you would like to read the forum in its entirety, simply follow this link.
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