WHARTON WELCOME WEEKEND Financing an MBA at Wharton Sharon Brooks Senior Associate Director, Office of Financial Aid April 14, 2007

Student Budget Fellowships Federal Loan Programs Private/Alternative Loan Programs Other Financing Options Miscellaneous Financial Aid Contact Information Topics for Discussion

Estimated Student Budget

Fellowships Approximately 25% of the entering Class will receive a Wharton fellowship Applicants must submit an essay, resume, and the Need Access application to be considered for a fellowship Deadline: May 14

Federal Loan Programs Federal Stafford Loan: Maximum $20,500 Maximum $33,000 (Healthcare only) Federal Perkins Loan: (if eligible) Graduate Federal PLUS Loan:

Private/Alternative Loan Programs Citibank Domestic Loan Program: Access Group: MBA Loans: Bank of America: Nellie Mae: Northstar:

Other Financing Options Personal Savings Help from Family Members Outside Sponsorships: (Corporate Fellowships, Company Sponsorships) Club, religious, community organization affiliations

Miscellaneous The importance of good credit will make it easier for you to borrow. Bad credit will prevent borrowing from private/alternative loan programs Credit Scoring – review of all aspects of student credit history may be used to approve/deny loan application Be careful about opening too many new credit card accounts Credit Reporting Agencies: Experian – Trans Union – Equifax –

Miscellaneous Wharton expects each student to contribute a minimum of 10% per year toward his/her educational expenses (approximately $7,800) Using loans to offset educational costs is done through following specific instructions found in the ‘Welcome!’ Booklet Manage monthly budget carefully – less chance for lack of funds at end of each semester

Financial Aid Contact Information Financial Aid Staff: Sharon Brooks, Senior Associate Director Tammy Carter, Associate Director Teresa Del Pizzo, Administrative Assistant LaKeisha Knight, Loan Coordinator Telephone: Fax: