Since its origin, Stanford has been an area for learning, discovery, and innovation for all scholars. Located on 8,180 acres in the centre of the San Francisco Peninsula and is 35 miles south of San Francisco and 20 miles north of San Jose, Stanford University is in the heart of Northern California’s dynamic “Silicon Valley,” home to Yahoo!, Google, Hewlett-Packard, and many other cutting-edge companies that were started by and continue to be led by Stanford alumni and faculty. Stanford campus offers a wealth of sightseeing and educational opportunities.
The current enrollment of Stanford GSB is around 16,424 students segregated into 6,994 undergraduates and 9,390 graduates along with 2,276 faculty members and 2,400 postdoctoral scholars. Stanford comprises seven schools and 18 interdisciplinary institutes. Stanford is an international institution, enrolling students from all 48 U.S. states and 77 other countries.
All of this goes on to show why Stanford is considered to be one of the topmost MBA institutes in the world, and the experience and networking opportunities you will receive here, apart from the world-class education, will certainly not come cheap!
Cost of Stanford MBA
Below is the cost of attendance, including tuition and other expenses, for a first-year MBA student for the academic year from September 13, 2021, to June 9, 2022.
|Cost||Single Student||Married Student|
|Books and Supplies||$1,695||$1,695|
|Materials and Program Fee||$900||$900|
Much like the other top residential B-schools, the cost for an MBA at Stanford is different for applicants with and without spouses and kids. But, as an applicant from India you are most likely to fit in the first category.
If that amount seems like a huge deal to you, don’t be alarmed! Firstly, it also comes with plenty of scholarship opportunities, and secondly, the ROI is massive!
So, let’s see how you can bring down the cost of Stanford MBA!
How to get Scholarship for MBA at Stanford
In any given year, Stanford GSB provides more than $16 million in fellowship awards, an amount that represents about 31% discount on its published tuition rates. Slightly more than half of Stanford MBA students receive fellowship support, with the average grant at roughly $36,000.There are two primary forms of scholarships for students seeking an MBA degree from a B-school such as Stanford. These are:
The college aid or scholarship is basically the aid amount provided by the college you are applying at. Most foreign colleges provide need-based and merit-based scholarships. At Stanford, scholarships are provided solely on the basis of need. Need-based aid takes into account the socio-economic condition of the applicant’s family, and the ability to meet the financial burden. But, at the same time keep in mind that a well made application will fast track your chances of getting a scholarship.
The MBA application and interview process will have you answering various questions about yourself, and some of them can be challenging. It’s best to prepare for these questions beforehand and have your profile ready for presentation. Don’t think of this as an easy process, as this is one of the best ways to stand out from the crowd! Here are some of the best answers to the Stanford MBA application question to give you a better understanding.
Some universities also offer community-focused scholarships, and while it is offered in any field of undergraduate study, it is aimed at students who seek to work with under-served communities in their home country. The scholarship can be renewed every year of the course, as long as the student maintains his/her grades. Such a scholarship is perfect for an Indian student wondering how to get into top B-schools such as Stanford GSB!
International scholarships are another way to bring down your total cost of studying at Stanford. These fellowships are available to all U.S. and international MBA financial aid applicants who can demonstrate financial need. Some of the popular ones include the Knight-Hennessy Scholars, which is the largest fully endowed scholars program in the world. The program awards high-achieving students every year with full funding to pursue any graduate degree at Stanford, including joint and dual degrees. To be considered you must apply separately to the Knight-Hennessy Scholars program and to your Stanford GSB graduate degree program (by Round 1).
All Indian applicants should also apply to the Stanford Reliance Dhirubhai Fellowship Program to support students who are from and living in India who need financial assistance in obtaining an MBA at Stanford. Stanford Reliance Dhirubhai Fellows, class of 2022, will receive financial support for approximately 80% of the cost of attendance and associated fees for a single student each year of the two-year Stanford MBA Program.
What you need to remember is that each university has different aid and scholarship requirements and offerings. And the Stanford website may not have all the answers! You must reach out to the college administration and get all the possible information directly from them. Don’t be afraid to ask questions.
From ex-students to instructors and admissions committee members, try to get in touch with anyone possible. The world is still reeling from the pandemic situation, so you will be able to easily get in touch with the people and they will be happy to share the information with you as long as you have your end figured out.
Watch this video before you apply so that you know the inside tips for gaining top-tier international MBA scholarships:
And finally, consider the ROI!
|Job & Pay Data||Stanford|
|Starting salary & bonus||$132,769|
|MBAs employed at commencement||69.1%|
|MBAs employed 3 months after commencement||85.4%|
|Estimated median pay & bonus over a full career||$3,327,145|
With these figures, the amount you will be spending getting your MBA degree from Stanford GSB is perhaps one of the best investments of your life!
So, start your research early, and make sure you get the best possible scholarship opportunities and bring down the cost of Studying MBA at Stanford!