Sample First Year Budget: Financial Aid: MBA: Stanford GSB

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Stanford MBA students preparing for class in the library.

Admission to the Stanford MBA Program is need blind. Your personal resources for financing your education are not considered in our admission decisions.

Liz Smith, MBA 1990

"At Stanford, a bell rang for me in a "Small Business" course.

It was there I realized my passion was to run a business and that class gave me the courage to pursue that path.

Since graduating, I've been involved in building tangible enterprises.

I spent 14 years working on a variety of businesses at Kraft Foods.

Now, as president of Avon North America and Global Brand, I'm responsible for North American operations and leading the development of Avon brands worldwide.

Since 70 percent of our business is international, what's been particularly useful to me is the incredible diversity of interests, backgrounds, and viewpoints I was exposed to at Stanford.

There were international students, and people from the non- and for-profit worlds, and I truly benefited from their experiences and perspectives.

As a result, I approach my job with a better understanding of the complexities of our big world.

One class that helped me negotiate those complexities is what we fondly called 'Touchy Feely' (Interpersonal Dynamics). That class taught me in a very hands-on way many valuable lessons I use as a manager, like don't make snap judgments about people, and that you can find common ground with anyone just by being honest.

Those who work for me know that we may not always agree, but I don't have a hidden agenda.

Above all, my teachers and classmates taught me to dream big and never settle.

The MBA Program is a unique time to take chances and become bold. It's an amazing laboratory for discovery.

To anyone coming into the program, I say: Go with your heart, not with the flow.

Education: University of Virginia, B.A.
Pre-MBA: Financial Analyst, Paine Webber
Post-MBA: President, Avon Products, Inc.

Tuition & Expenses

The following is the estimated budget for an average student entering in fall 2008. While living expenses vary, this is the standard estimate used in determining financial need.

Tuition

Tuition for the 2008/ 2009 academic year is $48,921. To assist with your financial planning, your tuition is guaranteed for two years based on your start class. Depending on marital status and other factors, you should budget an additional $25,000 to $35,000 per year for living costs, books, and other expenses.

Sample First Year Student Budget Nine-Month Academic Year, September 2008 - June 2009
	Single On Campus	Single Off Campus	Married On Campus³	Married Off Campus³
Tuition	$48,921	$48,921	$48,921	$48,921
Living Allowance¹	$19,932	$22,602	$28,116	$31,923
Week Zero Expense	$634	$708	$861	$967
Books & Supplies	$1,869	$1,869	$1,869	$1,869
Course Reader Fees	$1,845	$1,845	$1,845	$1,845
Transportation	$864	$1,818	$2,679	$3,624
Medical Insurance²	$2,259	$2,259	$2,259	$2,259
TOTAL	$76,324	$80,022	$86,550	$91,408

^{(updated 3 March 2008)}

Sample First Year Student Budget With Study Trip⁴
	Single On Campus	Single Off Campus	Married On Campus³	Married Off Campus³
Study Trip $1,500	$77,824	$81,522	$88,050	$92,908
Study Trip $4,000	$80,324	$84,022	$90,550	$95,408

^{(updated 3 March 2008)}

1. Living allowance includes rent, food, and personal expenses for a moderate lifestyle. An additional allowance may be made for eligible dependent children.

2. Stanford University Cardinal Care medical insurance allowance is included for all students, even if an alternative insurance is used by you. The quoted rate above reflects an estimated 10% increase from the 2007/2008 academic year expense and may change prior to the 2008/ 2009 academic year. If this occurs, a revised award letter will be sent. The single student health insurance rate is quoted for married students on the assumption that the spouse will have separate coverage.

3. If you are a U.S. citizen or permanent resident and married, the cost of attendance that appears on the award letter will reflect that of a single student. Please note, fellowship eligibility for married U.S. citizen or permanent resident students will be determined based on the married student cost of attendance, and loan eligibility will be determined based on single student cost of attendance. The U.S. Department of Education has established a set of calculations that govern the awarding of federal loans. The federal need analysis system compensates for the cost of additional family members by reducing the amount of income a married student is expected to contribute toward the cost of attendance; the amount is lower than that of a single student with the same income.

4. There are many ways to meet the global experience requirement. However, two of the ways that the expenses can be added to the cost of attendance are global study trips and overseas service learning trips. The trip expenses may range more or less than the amounts stated above. Also, the actual expense will only be added to your cost of attendance when the Financial Aid Office is informed that a student has been accepted for a specific trip. The GSB plans not only to subsidize these trips but also to provide financial aid in the form of fellowships and loans. Other options to meet the global experience requirement are not included in the cost of attendance, such as Global Management Immersion Experience (GMIX), but may be subsidized by the GSB.