Mado, you mentioned that there really aren too many private scholarship opportunities out there for MBAs. What is todays MBA candidate to do?
If you go to Tuck and get a very good job after you graduate, then there is no reason for you to be under financial duress. However, it’s important that one prepares for the experience of spending nearly $100,000 over two years by, No. 1, trying to save. Most of our students of course, have prior work experience. So we hope that they haven’t spent everything they’ve earned and that they’ve saved some. Secondly, students should not have large credit-card debt. And third, they should have a good credit rating. Those three things will help a great deal. What does not help — are you ready for this one — what does not help is someone who has just bought a very expensive car. That’s poor planning. Secondly, someone who hasn’t paid down their credit-card debt is [digging a hole for themselves], and that is an extraordinary phenomenon. It’s amazing to me the number of people who enter Tuck with credit-card debt…they may have some savings, but they also have credit-card debt. What is an int
