Financial Aid FAQs
An essential part of the admissions process is understanding your financial aid options, which can be complicated at times. Before investing in the tuition costs of a residential MBA program, consider reviewing these commonly asked questions.
Johnson has over $1.5 million in merit-based scholarship funds to award each year to new students. We provide partial scholarships to a substantial percentage of our students. Merit scholarships are awarded without regard to citizenship. If a student is selected to receive a scholarship it will be included in their admission decision notification. Almost 30 percent of Johnson students receive some scholarship assistance. Merit Scholarship recipients are selected by an Admissions Scholarship Committee. The same criteria are used to determine merit as are used to evaluate applicants for admission: demonstrated leadership and interpersonal skills, prior academic performance, exam scores, the range and depth of work experience, writing skills, interpersonal skills, extracurricular and community involvement, recommendations, previous achievements, focus and goals.
In addition to our merit-based scholarships, we have Park Leadership Fellowships, which provide up to twenty-five full-tuition awards each year. Park Fellows are selected on the basis of demonstrated leadership abilities, a record of community service, and academic achievement. Park Leadership Fellowships are only open to U.S. citizens who have applied to the Two-Year MBA program by round three.
If a student is selected to receive a scholarship it will be included in their admission decision notification. Students who enroll without scholarship funding during their first year should not expect to receive scholarship support in their second year.
Merit Scholarship recipients are selected by an Admissions Scholarship Committee. The same criteria are used to determine merit as are used to evaluate applicants for admission: demonstrated leadership and interpersonal skills, prior academic performance, GMAT/GRE scores, the range and depth of work experience, writing skills, interpersonal skills, extracurricular and community involvement, recommendations, previous achievements, focus and goals. If a student is selected to receive a scholarship it will be included in their admission decision notification.
We do not have teaching assistantships or research assistantships that reduce or replace tuition. We do have students who work as teaching or research assistants with our faculty. However, they are paid on an hourly basis. We do not encourage students to work during their first year.
Scholarships from outside the school are available from many sources. There is some effort involved in securing outside funds. The key is to apply early. Private scholarships may be based on various selection criteria: academic achievement, religious affiliation, ethnicity, memberships, civic activities, hobbies, or special talents. Start your scholarship search by contacting your employee benefits office, church, civic group(s), or any other organization you think may have scholarship opportunities. For more information on outside scholarship resources, see Scholarships and Grants.
U.S. citizens and permanent residents need to complete a free application for Federal Student Aid (FAFSA) form for the aid year that they matriculate in. You can do this online at http://www.fafsa.ed.gov/ or via mobile app (available through Google Play or Apple App Store). The FAFSA is required to process federal loan requests. For more information and detailed instructions, see Loan Programs.
NOTE: If you are applying to one of our One-year MBA programs, you will also need to complete the current year FAFSA to apply for summer loans.
Johnson’s Financial Aid Office will begin processing federal student loan request in May and throughout the summer (April for summer loans). Loan award notifications are emailed to your Cornell University email account. In order to be considered for federal student loans, students must have accepted their offer of admission, completed the FAFSA, and uploaded a completed federal loan request form.
Johnson offers a loan program to admitted international students without a co-signer and who have no adverse credit in the U.S. to cover the cost of tuition. There are U.S. loan programs available that allow you to borrow to cover the full cost of the program but require a credit worthy U.S. or permanent resident co-signer. For more information please visit our international student website at International Loans.
U.S. educational loans cannot be used on a declaration of finance. You may use multiple private sponsors (domestic or international) on the Declaration of Finance form. Federal immigration regulations require that all international students provide evidence of adequate funds to meet the financial obligations of enrollment at a U.S. university. Student loans may be used to finance your education once this requirement has been met and your F-1 visa has been issued.
Your admissions decision is made without regard to your request for financial aid.
Yes, the budget we use to calculate financial aid includes tuition, a room-and-board allowance, health insurance, and expenses for books and personal expenses.
All financial aid sources will be applied first to your university tuition bill. If any of these funds result in a credit balance to your account, the credit will be refunded to you AFTER university registration, late May and August and January.
The university does not accept credit cards. They do offer online payment, visit the bursar for payment options.