How to Go to Business School for Free

(page 3 of 3)

At Northwestern University's Kellogg School of Management, recent recipients of full-tuition scholarships include a student who had worked for a nonprofit in Vietnam helping poor families start small businesses, a former army soldier who led a reconnaissance mission in Iraq that resulted in the capture of the members of an insurgent group, and a former operations manager for a pharmaceutical company who was able to save his company $650,000 a year. These students were selected for fellowships because they were able to highlight their leadership experience clearly in their application, as well as to distinguish themselves from the general applicant pool, says Beth Flye, Kellogg's director of admissions and financial aid. "It's the candidate's responsibility to let us know to why they think they would be a model candidate for a certain scholarship," Flye says. "They need to show us those marquee points."

Speak Up

Students who have their sights set on a particular fellowship can note their interest in the award of scholarship during the application process. This can be helpful to admissions officers as they are considering students for the various scholarships doled out to students, admissions officers say. Another way to get the attention of an admissions officer is to encourage the person who is writing your recommendation to mention your interest in the fellowship and how it will help you achieve your career goals. "That is more meaningful than the applicant saying they'd like to be considered for it," Darden's Neher says. "That's not a guarantee, but it doesn't hurt. It certainly shows the recommender that you took the time to get to know the school."

Think Strategically

One way to improve your odds of getting a fellowship is to apply to several schools where your grades and GMAT will be above average. For example, students who are applying to mostly top 10 business schools should also consider schools that are not as highly ranked but still strong in the subject area they want to study. "If you do that, you might end up where you want to be and for a whole lot less money," says Accepted's Abraham. The school's admissions committee might be inclined to give an above-average student a full-ride scholarship because it will help the school improve their overall student body profile, she says. It's a strategy that has worked for some of Abraham's clients, though she says students shouldn't pursue this exclusively.

For some students, getting a full-ride fellowship can help tip the scales in deciding what school they ultimately decide to attend. That was the case for Jamala Massenburg, a former product design engineer at Ford (F), who is now a second-year student at Darden. She was choosing between Tuck and Darden when she learned that she had been selected for one of Darden's Jefferson Fellowships, a full-ride two-year fellowship. She decided to accept the Darden fellowship, a decision that came with its own responsibilities, she says. As a fellowship recipient, she feels a strong desire to give back to the school. She has gotten involved in the student admissions committee and helping to organize the school's open house events. She plans to help interview potential first-year students this year, as well as to spend several months working on a research paper for the school.

"I want to make sure I deliver on the expectations that the scholarship committee set out on me. It's not an entitlement for me," Massenburg says. "I feel very lucky and I feel as though I owe them also."

Business Exchange related topics:
Business School
Saving for College
Higher Education
College Marketing
Career Change

Damast is a reporter for BusinessWeek.com.