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3 Ways to Show Business Schools You’ll Make an Impact

By U.S. News & World Report

Most candidates approach the MBA application process by putting their own needs first. Perhaps you have decided to pursue an MBA because you want to achieve something new, change careers or advance more than you would otherwise.

However, what can set you apart from many candidates is thinking about what you can add to the business schools you are targeting. While everyone benefits from a diverse alumni network, what specifically do you want to give and receive from your classmates?

Applicants should frame their essays and interviews with the goal of convincing the admissions committee that they will enhance the student experience once on campus and will continue to make a positive impact as an alumnus down the road. Here are three ways to accomplish this.

[Know how to convince an MBA program you’re a good fit.]

1. Show how your skills and interests will benefit the program: Business schools strive to assemble a cohort filled with impressive individuals who will use their unique characteristics to enrich the learning environment. This is the perfect opportunity to distinguish yourself from those who may have a similar educational or work profile.

It’s effective to start with what you bring to the table. Think about what your points of differentiation are from other MBA candidates. Perhaps you have a distinctive leadership style or knowledge you can share with the class. Share with the admissions committee how you will contribute to the organizations that already exist, or mention your ideas for creating new ones.

Consider how you can add knowledge to a classroom. Maybe you have contacts in your industry that can help other students obtain jobs. Think about whether you can you provide connections to interesting speakers or if you will bring special skills to a club or classroom.

Remember, if your answers can be easily replicated by other applicants, they will add little to your candidacy.

[Learn how to demonstrate leadership in an MBA application.]

2. Connect your past and present experiences to the future: You should be aware of the major academic, extracurricular and social components of the MBA programs you apply to and think about how you will enhance the mix. Perhaps your professional experience will further a case discussion in your strategy class, or it may also help your classmates with a panel on the industry they are putting together as part of a professional club.

Maybe you want to start a club or a conference based on your specialized industry knowledge. Perhaps you aspire to help a professor with her research because of a special interest you have. Or, you might be planning to return to the school as an alumnus to be a panelist or mentor once you develop your individual professional pursuits.

Since fit is so important, this is also an opportunity to reveal your depth of knowledge of the school’s culture. To be most effective, you will want to be both specific and logical in what you choose to highlight, focusing on the activities that make the most sense in the overall context of your career and industry interests.

[Find out how to craft a great MBA essay.]

3. Make the case for why each program is the best place to achieve your goals: Whatever your own personal reasons for seeking an MBA may be, make sure you can point out specific aspects of the skill set required for your future career that will be augmented by attending that school.

The admissions committee wants to know why your particular aspirations will be uniquely satisfied by their program, so use the essays and interview to show you have done your research. You should know everything about the aspects of the program that most appeal to you.

Know the classes you want to take, the professors you hope to work for, and how any specialized programs will be an asset in your future career. Make sure to reach out to current students and alumni, as those conversations will give you crucial insights that will provide a personal perspective on the culture of the school.

As you can see, business schools today seek a symbiotic relationship with their students. The highly competitive state of MBA admissions now requires applicants to show not only that they are qualified to attend the program, but that they will raise the bar by positively impacting the experience of everyone around them.

More from U.S. News

Focus on Career Progression, Results for a Successful MBA Resume

3 Ways to Get a Head Start When Building Your B-School Network

Effective Ways to Address Academic Strengths On MBA Applications

3 Ways to Show Business Schools You’ll Make an Impact originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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