In order to continue to attract top-quality applicants, is Stern looking to grow its pool of merit-based funding?
Of course. We see merit-based scholarships as one of the many items — [such as] space, facilities, or faculty [salaries] — that need funding. Also, a significant percentage of incoming students, about 80%, get full financial-aid packages. So there’s definitely help available, whether it’s scholarship based or financial-aid based loans. Q: How can prospective Stern MBAs make up the difference between what they might receive as a merit-based scholarship, the cost of living in New York, and tuition? A: For domestic students, definitely with federal loans. We’ve also been able to leverage a private loan specifically for NYU with Sallie-Mae Chase. We’ve negotiated better rates for our students as well as [improved] customer service. The loan is called NYU Chase Signature Loan. There’s a complete list of private lenders on our Web site. Q: Does Stern offer a foreign-friendly loan program designated to help international students who aren’t eligible for federal funding? A: Yes, we’re really
