What are some of the more popular financial aid gaffes todays MBA student is liable to make?
One, they under budget for living expenses. Two, they generally don’t give themselves enough time to really go through the financial aid process. It takes over six weeks to process the federal loan papers, and I think that students can get quite frustrated when they don’t hear back from the financial aid office right away. But if you’re applying for loans and different types of federal aid, it’s a relatively long process, so you really have to allow enough time for that process to work in your favor.
