Who doesn’t like to save some money? More so when you are applying to the best business schools and are aware that there’s a huge avalanche of costs to follow once the program starts. Read this related article on how much it costs to attend a top MBA abroad.
Planning early can help you save a few hundred (or thousand) dollars at the application phase.
Take MBA application fees as an example. Even if you have selected 6-7 schools, you are looking at over $1,000 in application fees alone. But there are some bschools you should know about that don’t charge an application fee or reduce it if you meet certain criteria (like being an international applicant).
Consider the case of our friend who fine-tuned the skill of saving money and took it to a different level. He applied to 14 programs and paid the application fee only for 3 bschools. He got into Carlson MBA Minnesota admission with full scholarship.
While Harvard and Standford don’t offer application fee waivers, Wharton may consider your request if you have a good reason. There are several other good overseas MBA courses too where you can save $100 or more per application.
Applying to international MBA programs can be a costly affair. The expenses start mounting even before you manage to secure a place in a business school.
Cost-conscious candidates who feel the pinch tend to curb their expenditure by being selective and applying to a handful of b-schools rather than piling up the expenses at the application stage. This is because application fees for a lot of top good programs are usually in the range of $200-$250 (over Rs 10,000 a pop in Indian Rupees).
Admissions committee have a tough job reading through loads of application, resumes of candidates from varying career backgrounds and diverse nationalities. They need to evaluate these applications so as to shortlist the required numbers, all of which can be quite tedious. The application fee is for processing these applications.
The application fee also serves as a filter so that candidates who are not the right fit for the program think twice before they decide to apply.
However there are a few pocket-friendly programs which may either waive off the application fee or charge a lesser and a more affordable amount.
You can apply for an application fee waiver by sending a request to the admissions committee and mentioning the reason for the same. You can also attend one of the qualifying events to avail the waiver. You may also be eligible for a reduced application fee by obtaining a Fuqua alumni or current student recommendation.
This is one of the top business schools and luckily they don’t charge an application fee. So those interested in studying in Singapore can go ahead and apply.
Application fee waiver can be requested in case candidates are facing severe financial problem paying the same. Applicants need to submit their request at least fifteen days before submitting their MBA applications.
Applicants for a full-time MBA program can apply for a waiver provided they meet certain criteria, some of which include a GMAT score of at least 670 and a minimum of 4 years of work experience.
Applicants are offered a waiver of the application fee ($175) if they are able to prove their academic excellence. There’s a minimum GMAT requirement of 700 to be able to qualify for this waiver.
They don’t charge an application fee. Candidates targeting a UK based one year program can apply.
Here the application fee is comparatively lower: $70 for international applicants.
This UK based b-school does not charge an application fee.
MBA applicants targeting a dual-degree program may qualify for an application fee waiver.
Those participating in the Tuck Bridge program can have their application fee waived.
They do not charge an application fee. No pre-conditions for the waiver eligibility as far as we know.
Here the application fee is again low at $65. They also offer the Penn State Referral Program in which if you’re referred to the MBA program by a graduate, current student, faculty or staff member, your application fee would be waived.
MBA/MD applicants are not required to submit the application fee of $125 USD.
No application fee is required for any of the St. Gallen MBA programmes.
Candidates who attended an Experience Georgetown information session or class visit between September 2014 and March 2015 were eligible for a reduced application fee of $100.
The application fee is reasonably priced at $85.
This program too has its full-time MBA application fee at $85.
Here the $100 application fee for international candidates can be waived for exceptional candidates who have their career goals falling in line with the program’s strength. So if you have a good academic and career track record, send across your GMAT/GRE scores along with your post-MBA goals to the Admissions team and see if you qualify for the waiver.
There is no application fee for the full-time Queen’s MBA program. The MBA can be completed in a year’s time. Students can also take advantage of the 16-month dual degree opportunities.
The Yale MBA has a sliding-scale application fee. Though the application fee is $225, candidates earning less than $20,000 a year need to pay $175, for those earning less than $10,000 a year, it is reduced to $125.
Admissions policies change over time. For instance, Cambridge Judge School of Business earlier did not charge an application fee but now they do; the application fee for entry in 2015 is £125. Always make it a point to check the college websites for the latest updates or changes in the application fee.
Considering the huge investment involved in getting an MBA from a good business school, the application fee forms a miniscule component and should not be the deciding factor while shortlisting the schools you wish to apply to.
If you see a good fit with the school, go ahead and pay the application fee rather than sending your application to a random set of colleges (where your career goals after MBA probably won’t be met) just to save some money.
Instead, if you are really cost conscious, try to reduce the bigger components of your costs (like your MBA fees) by aiming for scholarships which can save you lakhs rather than a few thousand.
Here are several stories where Indians have got scholarships for MBA abroad courses.