In the third part of the Tuck MBA series, we cover scholarships, fellowships, sponsorship, loans, and financial aid. Read the first part – Tuck MBA Class Profile Trends and Total Fee, and the second part – Tuck MBA Curriculum Analysis.
Scholarships have academic requirements that students must meet to ensure that they are automatically renewed during the 2nd year. Once enrolled, Tuck MBA will receive complete information about the scholarship, including the Donor’s name. These named scholarships are in addition to students' existing Tuck scholarships. At Tuck, all scholarship recipients must submit a letter of thanks to the donor.
Tuck MBA Scholarships, Fellowships, and Sponsorships
For Tuck scholarship awards, there is no separate application process. The donations are driven by Tuck Alumni, corporations, and non-profit foundations with strong association with Tuck. Financial Assistance offices review all the application material.. Tuck offers scholarships to students with financial need.
The scholarships range from $10,000 to full tuition, with an average of $29,648 offered each academic year, covering a quarter of the yearly expenses.
| Tuck Scholarships/Fellowships | Eligibility | Award |
|---|---|---|
| Forté | Exceptional women candidates | NA |
| Consortium for Graduate Study in Management Fellowship | Merit-Based | Full tuition fees |
| The Willard M. Bollenbach Jr. 1949 Fund | Second-year Tuck students of superior intellectual capacity and academic achievement | NA |
| William G. McGowan Charitable Fund – McGowan Fellows Program | Second Year students who have performed exceptionally well in academics. | One year Full tuition fee |
| Reaching Out MBA (ROMBA) | LGBTQ Community | NA |
| Post-9/11 GI Bill | Military | NA |
| Yellow Ribbon Program | Military | $26,000 |
Tuck MBA Sponsorships
For candidates planning to return to their previous employer, a strategy that could minimize the debt is sponsorships. If candidates do not return to their work or follow the rules of the sponsorship, they are by law required to immediately reimburse the sponsor. Financial aid is based on forward calculations. Incurred expenses are not covered.
Tuck MBA Loan Programs
Each loan program's eligibility varies, as do interest rates, repayment terms, and annual/aggregate loan maximums. International students can broaden their options by locating a U.S. cosigner with a good credit history. Tuck follows the Higher Education Opportunity Act-mandated Code of Conduct policy.
Federal Direct Loan Programs (National Loans)
Direct Unsubsidized Loan
Graduate students who are citizens or permanent residents of the United States eligible for a stipend of $20,500 per academic year can avail of this kind of loan. The lender is the United States Department of Education. The interest rate will be 6.54% for FY 22-23. The interest rate is constant throughout the duration of the loan.
When students repay their loans, interest accumulates and is capitalized. At the time of disbursement, a 1.057 percent loan origination fee is deducted from the loan principal. Six months after graduation, repayment begins.
Ten years is the standard repayment period. However, depending on the repayment plan that students choose, they could have up to twenty-five years to repay their loan.
Direct Graduate Plus Loan
Graduate students who are US citizens or permanent residents may be eligible for up to the cost of attendance, less other financial assistance, as determined by the school. Before students can borrow the PLUS, they must first apply for their maximum loan eligibility for the Direct Unsubsidized loan. The applicant's credit history must be clean. The interest rate is fixed for the duration of the loan.
When students repay the loan, interest accumulates and is capitalized. At the time of disbursement, a 4.228 percent origination fee is deducted from the loan's principal. Six months after graduation, repayment begins. Ten years is the standard repayment period; however, depending on the repayment plan students choose, they can even repay their loans for up to 25 years.
Institutional Loans
Dartmouth Educational Loan Fund (DELF) Loans
Dartmouth College's Trustees make the Dartmouth Educational Loan Fund available. The current rate for new borrowers is 6.95%. The interest rate is set each year and remains constant for the duration of the loan. When students repay their loans, interest accumulates and is capitalized. Ten years are limited for repayment. Students who are US citizens, permanent residents of the US, or foreign nationals are eligible. A student must be enrolled at least half-time and make satisfactory academic progress toward a degree to qualify for a DELF loan. Students may borrow up to $65,000 per year as per their financial needs from this source over the two-year MBA education. Financial need is based on the cost of attendance, less the approximated scholarship and family contribution.
Tuck 5 Percent Loans and Tuck Educational Loan Fund (TELF)
Citizens, permanent residents, and international citizens with financial needs are qualified and will be considered as part of the financial aid process. These loans do not have any interest while the student is enrolled at Tuck and charges a 5% interest rate during the repayment period. Before repayment, there is a three-month grace period.
Custom International Loan
The loan does not require a co-signer from the United States and has competitive terms. A student may borrow up to 80% of the annual cost of attendance, as determined by a needs analysis based on the information provided on the international financial aid application. The program's goal is to supplement the student's other financial resources. International students should also look into all available funding options in their home country, such as government and private scholarships and loans.
Private Education Loan
Private education loans are available in the United States to U.S. permanent residents and citizens with good credit, as well as overseas students with a credit-worthy U.S. cosigner. Other than the United States, other countries may have private education loan options. If students decide to apply for a private loan, they must do so directly with the lender.
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