Deal or no Deal. This is what Stanford has to offer to the future students. The Stanford School Of Business is one of the highest ranked institutions in the world. And if it’s not prestigious enough to appeal to people, a majority of entrepreneurs and business people towards the coveted degree.
However, the College’s new decision is making waves all over the educational world. So what’s all the fuss about it?
Getting In With The ‘In’ Crowd
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Unlike most years where it’s a nerve-wracking race to achieve the best score in SAT/GRE or even a shining letter of recommendation, Stanford has dropped the requirements.
Stanford’s Graduate School of Business recently went through some alterations for admission under a new fellowship. The college covers all expenses and even pays back to students. But here’s the catch. All selected students must agree to work in the Midwest.
The college is concerned with the mass influx of graduates who shift to California, hunting for jobs after completing their degrees. But it has planned to direct students towards less deserved regions that would benefit from fresh talent.
“When we look at our country, and we think about different places where there’s still a lot of room for growth and development, the Midwest was a big part of that,” according to assistant Director Simone Hill.
And That’s Not All
The Stanford USA MBA Fellowship is prepared to pay three students about $160,000 for two years, just to visit the university. Two years from graduating, students are specified to find work in the Midwest, where they will add to the region’s economic improvement.
Applicants must also provide supporting documents for financial aids. Having strong connections with neighbouring high schools is also a must.
It is ranked second to Harvard Business School by both US News and World Report.
But taking a look at the tuition and fees, they add up to $111,000 per academic year for students not staying on campus.
The fellowship recognises ‘Illinois’, ‘Indiana’, ‘Iowa’, ‘Kansas’, ‘Michigan’, ‘Minnesota’, ‘Missouri’, ‘Nebraska’, ‘North Dakota’, ‘Ohio’, ‘South Dakota’, and ‘Wisconsin’ as the “Midwest”. However, opportunities for professional development seem scarce in such regions. Graduates would much prefer the Silicon Valley that boasts high salaries and low living costs.
But these states must not be overlooked. ‘Michigan’ and ‘Illinois’ played a huge role in creating tech jobs in the first half of the year, based on an analysis of “US Bureau of Labor Statistics” by the research firm “Dice”.
And that’s not the end yet. Stanford intends to expand the program to eight students and also collaborate with other regions. It’s currently eyeing the Southwest for the 2017-2018 school year.
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