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Formation and training

How to receive the grant on MBA

This sweet word "grant".

The most widespread way of financing of study at business school are bank credits. The second-large source of means – the grants established, as a rule, by the large companies or private sponsors. At the expense of grants it is possible to cover from 25 to 75 % of expenses on training.

"At us about 30 % of foreign students, from them of 10-15 % receive the help in the form of grants", – West, the director of department for rendering speaks Поль to students of the financial help of business school Fjukua.

Often enough grants at business schools are simply distributed between those who has addressed for the financial help, in other cases of school give out them for special achievements (merit-based scholarship) – in particular for good academic progress. For example, the business school Haas Kalifornijskogo of university of Berkeley has offered (USA) to a class of 2000-2001 of such grants for the $1,1 million sum "On the first year of training we usually we award students the sums from $10 to 25 thousand Approximately 22 % of students МВА of the first year receive any payments for the achievements", – the head of department on rendering of the financial help of this business school speaks Деби Фидлер.

At business school Carnegies Mellons (USA) also prefer to pay grants to the best students. "There were grants for those who required financial support earlier, now grants give for the big merits, – the head of department on rendering of the financial help of this school speaks Лорен Трейси. – we do not look at that, how many money the candidate has earned last year or how many money at it on the depositary account. We finance who has professional or academic achievements".

In IMD "presidential grants" are annually awarded by the size of 16-32 thousand Swiss francs some. They are distributed personally by president IMD Томиником Тульпином depending on advantages and a financial position of candidates.

There are grants which stand out to any special sign – sexual, national and so forth In IMD, for example, the woman, passed competitive selection, can count on grant reception in 20 thousand Swiss francs founded by company Nestle (this sum should suffice on a covering about thirds of all expenses on reception МВА in Lausanne). For reception of this sum it is necessary to fill only the demand and to write an essay about various forms of management in volume to 750 words. The essay and the filled demand should be received school not later than September, 1st.

To Stanislav Kiselyov, the assistant to the head of representation Egon Zehnder International, the nominal grant has allowed to cover about third of expenses on training in INSEAD. "The sponsor, Mr. Schultz, I did not see, but, apparently, have written it the letter of thanks. He, possibly, the good person", – speaks Kiselyov.

Stipendial funds of the best business schools grow from year to year thanks to monetary contributions (donations) of graduates, therefore every year the probability of reception of the grant becomes above. "Two-three years ago we have started to render the financial help to foreign students, the truth, these payments are carried out to candidates only deserving that. Before such was not", – Jim Holmen, the director of a selection committee of business school Kell Indianskogo of university (USA) marks.

The largest international companies also help students of business schools. For example, Уортон offers variety of the nominal grants allocated with partners of school from among the leading international companies, among which American Express Company, Arthur Andersen, The Chase Manhattan Bank, Deutsche Bank, Ford Motor Company, Goldman, Sachs and Co., Etc. – only 16 companies.

However, it is necessary to notice, that students-foreigners can apply only for a small part of nominal grants and the competition between them grows together with increase in number of demands from foreigners on training in business schools. And grants for merits by definition to receive uneasy. "In INSEAD there is a grant for the academic achievements, awarded in the end of a year on behalf of Ford Foundation, – Stanislav Kiselyov tells. – its size – about $30 thousand In our class it has got to one guy who had the higher education received in Oxford".

It is possible to be overcome also for the grant obliging you to fulfil any time for school. It is called fellowship. Деби Фидлер from business school Haas notices, that students of the second year of training willingly hand in statements on position Graduate Student Instructor (GSI). "This year posts of the teacher under programs undergraduate or graduate have been offered 69 students of the second year. The Academic load becomes not such heavy and allows students to work one-two day in a week", – she speaks.

It is necessary to tell about some conditions which performance will raise chances to receive the grant. First, before receipt it is necessary to collect as much as possible information on schools and to submit documents only in those from them which have programs of the financial help to foreign students. Data it is possible to receive both on sites of business schools, and on specialised sites like eduPASS.

Secondly, in school it is necessary to send a package of documents as soon as possible, it is desirable to the first declared deadline (application deadline). Grants on all does not suffice, and the people who have sent the papers in last turn, frequently are in time only to шапочному to analysis. "We award grants that who submits documents in the first stream, – West from American business school Fikua testifies Поль. – If to submit documents later our resources can be already spent and we cannot offer the grant".

Children of the captain of the Grant

Money for training to business administration can be received also in the form of the grant. He at times allows to pay not only training, but also some accompanying expenses – on residing, air flight, the medical insurance and so forth However to receive such grant hardly, besides, the payee not always can choose business school itself.

On reception МВА in the USA it is possible to address for the grant in the Moscow representation of corporation "the American councils about the international formation". This organisation holds competition on reception of grants under programs of a name of senator Edmunda S.Maski "and" the Certificate in support of freedom ", a financed Bureau of educational and cultural programs of US State department. Thanking these grants the first Russians have got in Стэнфорд and Уортон.

Today within the limits of these programs annually stands out more than 300 grants for citizens of Russia and the CIS countries. According to the representative of the program Sergey Votjagova, following the results of competition of 2001 grants on training at business schools have received 14 Russians.

Program Эдмунда of S.Maski is the program of the Bureau of educational and cultural programs of US State department and is spent at support of the Ministry of Education of Russia. It has been based in 1992 by the Congress of the USA and urged to promote economic and democratic development of Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Moldova, Russia, Tajikistan, Turkmenia, Ukraine and Uzbekistan. The program is administered by the American councils about international formation (ASPRJAL/AKSELS) and institute "Open society" (OSI).

The probability is great, that to the addressee of the grant will suggest to go to school, which does not enter into first ten. For example, business school Stenforda since 1996 any more does not enlist grant-aided students of the Mask, the Colombian business school – too. "Them scatter on those schools which wish to involve foreign students, – Igor Sergeev, the student of the Colombian business school speaks. – and leading business schools prefer to select people".

Nevertheless it does not confuse many applicants. To take part in competition, it is necessary to have the diploma about higher education, not to be more senior 40 years, freely to know English and possess лидерскими qualities. The operational experience and profile formation are desirable, but are not obligatory.

Selection provides passage of several stages. At first you will ask to fill the questionnaire in English, one of which points – an essay writing; and also to present three letters of recommendation, a diploma copy on higher education and extracts from the test book (all documents should be assured and be accompanied a certified translation into English). Questionnaires will be analysed by members of the selection commission then semifinalists will be invited for a passing examinations (it is necessary to hand over tests TOEFL and GMAT). By their results will define those lucky beggars who will receive grants. A deadline of giving of questionnaires – the end of October. Examinations will be organised in January-February, and finalists declare in April-May.

The similar program is and at Englishmen. It is called "Grants" Чивнинг "(Chevening Scholarship) and is co-ordinated British by council. Grants stand out for training on магистерских programs (including МВА) in the Great Britain.

Annually stands out 40 – such 50 grants. According to the manager of British council Ljubovi Kovalenko, approximately 40 % of demands for grants arrive just from the applicants having intention to receive МВА. Approximately 30 % from that of 42 persons that have received Chevening Scholarship in 2000 – 2001 educational year, have gone to study in business schools.

Grants "Чивнинг" have started to be awarded since 1991 They cover cost from three till 12 months of training in the Great Britain. The grant covers cost of training, residing and air flight. In total the applicant can count on the sum to 20 thousand pounds sterling. Restriction one – money stands out only for one year of training, accordingly, by means of the grant it is impossible to pay biennial programs at two most known British schools – London (LBS) and Manchester (MBS).

According to Любови Коваленко, on the grant the one who only is going to make it can apply as the person who has already arrived in any British business school, and. "Happens so, that experts of our office in Manchester look for the business school, ready to accept our candidate on the basis of its biographical particulars, written by it an essay and results of interview, – she speaks. – however at the most prestigious schools by that moment as all papers get to Manchester, reception already comes to an end, therefore we recommend to arrive at first there where the person wants, and then already to make an application on our grant".

For grant reception it is necessary to have higher education and freely to speak English.

Applicants fill the statement (it can be downloaded from a site of the British council), two recommendations, their translated both assured транскрипты and copies of diplomas represent. During selection applicants pass interview and hand over the test for knowledge of English language IELTS. The majority of the British schools demand from test GMAT arriving also delivery and operational experience presence so the British council recommends addressing to have behind the grant it in a kind. The documents acceptance for 2002-2003 is begun on June, 1st and will last till the end of September.

It is possible to address for the grant also in known charitable organisation Rotary Foundation. It till July, 15th accepts demands for reception of grants. In 2000–2001 educational year to addressees from 69 countries it has been given out more such 1200 grants. The total sum of the financial help rendered by fund, has made $26 million

The program "Ambassadorial grants" (Ambassadorial Scholarships) is the greatest international stipendial program organised by private fund. It exists since 1947, and since then the financial help in its frameworks have received more than 30 thousand persons from 100 countries. Among them the former prime minister of Portugal Carlos Albert yes Squanderer Pinto, the ambassador of the Netherlands in USA Отто Борш, a member of the Commission of the United Nations on affairs of refugees Садако Огата.

The most popular version of such grants – Academic-Year Ambassadorial Scholarships – provides payment of year of training in other country, including on магистерских programs in the field of business administration. Payment of cost of training, residing, a food, journey to a place of study and back is provided. The grant total sum can reach to $25 thousand In some countries it partially or is completely taxed. In 2000-2001 by fund it has been given out about such 1000 grants. For their reception the applicant should contact branch Rotary Foundation, fill the demand and pass examination for possession of a foreign language.

Unfortunately, these grants also do not leave to the applicant of the right for an independent choice of an educational institution. It can specify the countries preferable to it only. The definitive choice of the country and an educational institution does Rotary Foundation, recommending to candidates "to be flexible".

And here on grants of the Soros fund that who wishes to receive degree МВА to count it is not necessary. According to the representative of fund of Marina Batalinoj, this organisation supports to the people, wishing to study on магистерских programs in the field of humanitarian and social sciences, but not business administration and management. However, for the applicant from Russia business school IMC Graduate School of Business in Budapest can give out the grant created at George Soros's financial support. With its help it is possible to defray all expenses on training. The quantity of given out grants is not limited and depends on number of the submitted demands and level of candidates. For example, in 1998 to students from Russia it has been given out six grants, and in 1999 – two.

There are also other funds, but their programs have much smaller scope, hence, chances to receive their grants are insignificant. For example, only in a year in the size of 10 thousand pounds sterling English publishing house Hobsons Publishing and Association of programs МВА (Association of MBAs, AMBA) can give out one grant. To take part in competition, it is necessary to send to AMBA the information on in what business school from accredited AMBA you are going to arrive, and no more than 1500 words on a theme "In a context of what your career of the purposes you plan to reach the composition in volume, having received degree МВА?". Demands are accepted till the end of April.

Banks will help you

As many graduates of business schools of the USA tell, on the second year of training students have such source of financing, as a loan for consumer needs in local banks. Graduate Stenforda Stanislav Tsyrlin nowadays working at Moscow office Boston Consulting Group, notices, that when the person already acquires communications and can find the guarantor-American, it is quite possible. This way of financing can gain, if the grant or the grant does not suffice on payment of all curriculum. "It is possible to get card American Express which give out without special problems, to open the account in local branch of the credit union. Then in a year you already will have a credit history and you can borrow money", – speaks Цырлин.

The disorder of conditions on such credits is very great, but rates usually do not exceed 10 %. "Offers on opening of credit cards come packs, – confirms Igor Sergeev. – However, if to specify, that you the non-resident, they can take the words back. But some simply write" the resident ", more often nobody checks it".

Banks even compete for the right to give out the credit to students of prestigious schools or to open it the account. "In INSEAD in the first day banks are built in turn, enticing students by favourable conditions of opening of accounts. There and then it offers also credits", – Stanislav Kiselyov marks.

As a rule, business schools can сориентировать the student, in what bank it can receive the credit. "If we have a candidate with a more potential from Russia in which we are interested, we will always find to it a variant of reception of money", – the director of career centre IMD assures Джулиан Джаммерс.