Tuition & Additional Expenses
| 2020-21 TUITION EXPENSES (ANNUALIZED) | |
|---|---|
| Tuition | $60,750 |
| Books & Supplies | $500 |
| Health Insurance* (can be waived if proof of comparable coverage elsewhere) | $3,655 |
| Maintenance Fee | $1,250 |
| Student Services Fee | $542 |
| Loan Fees | $1,372 |
Tuition is subject to change annually
| AVERAGE LIVING EXPENSES | |
|---|---|
| Rent and Utilities ($1,351 monthly over nine months) | $12,160 |
| Meals | $5,976 |
| Personal Expenses ($326/mo plus health insurance $304/mo) | $5,670 |
| Transportation | $1,484 |
*Health Insurance Note. We require health insurance for all students. Vanderbilt offers a health insurance plan for students and their families. Please note that dental and vision care are not included in the insurance fee, but are available and encouraged through Gallagher Student Health.
Scholarship Overview
All applicants are automatically considered for scholarship awards at the time of admission. There is no additional scholarship form to complete other than for the Forté Fellowship, Diversity Scholarship, and ROMBA Fellowship.
Overall, academic merit is the most important factor for scholarship consideration, but additional criteria may be included for scholarships funded by individual donors. In addition to academic performance, Vanderbilt also considers potential for excellence in a management career when awarding merit-based scholarships. Career potential is based upon proven accomplishments, as well as quality and depth of professional work experience, community service, leadership, and interpersonal skills. Scholarships range from $5,000 per year to full tuition.
Dean's Scholars Award Program
Full-tuition Scholarship Award
The Dean’s Scholars Award Program is the flagship scholarship program at Vanderbilt Business. Selected annually from the incoming MBA class, Dean’s Scholars receive a full-tuition scholarship. One Dean’s Scholar is selected from each year’s cohort as the Dean’s Scholar Award Winner and receives an additional $15,000 yearly stipend.
Learn More about the Dean's Scholars Award ProgramDiversity Scholarships
Incoming students may be selected for diversity scholarships and/or named scholarships and awards. The Admissions Committee nominates outstanding incoming students for the awards listed below. Only the Forté Fellowship, ROMBA Fellowship, and the Diversity Scholarship—Underrepresented Minorities require a candidate to submit a statement. Priority consideration is given to applicants who apply by our January application deadline. For more information and additional resources, click on the links below to learn how Vanderbilt supports international, LGBTQI, military, underrepresented minority, and women students.
International
At Vanderbilt Business, we recognize that international students bring a remarkable diversity of languages, cultural backgrounds, and worldviews that strengthens our entire community. As a globally focused university, we seek to connect with exceptional candidates and alumni around the world. That's why we provide special resources and scholarship opportunities for international students.
LGBTQI
Vanderbilt Business partners with organizations such as Reaching Out MBA (ROMBA) and The Point Foundation that provide scholarships for LGBTQI students and allies. Additionally, the Out and Allied Club provides networking opportunities within the LGBTQI community both at Owen and in the greater Nashville area.
Military
Vanderbilt Business is committed to helping members of the Armed Forces transition to business school and has dedicated scholarship resources available only to military candidates. We also provide unlimited funding for Yellow Ribbon eligible candidates.
Underrepresented Minorities
At Vanderbilt Business, we are committed to building a diverse and inclusive community. In support of this goal, we award Diversity Scholarship—Underrepresented Minorities to qualified candidates, as well as partner with the National Black MBA Association Scholarship Program, American Indian Science and Engineering Society, and Toigo MBA Fellowship.
Women
Vanderbilt Business is committed to creating opportunities for women. Exceptional MBA students are awarded Forté Fellowships, which range from $10,000 to full tuition per academic year.
Accelerator Alumni Scholarship
Each year the Vanderbilt MBA program awards up to two $5,000 scholarships per academic year to graduates of the Vanderbilt Accelerator® program.
Endowed Scholarships & Awards
Learn MoreLoans & Other Resources
Federal Financial Aid
Loans are dispersed through the central Office of Student Financial Aid; visit Vanderbilt University’s financial aid website for details about loan options.
International students do not qualify for federally funded loan programs unless they are permanent residents of the U.S. International students may apply for a private alternative source of funding, but a U.S. citizen or permanent resident is required as a co-borrower. Vanderbilt offers two loan options that do not require a U.S. co-borrower, available through Prodigy Finance and MPower Financing. The two may be compared by viewing Vanderbilt’s Office of Financial Aid’s private alternative loan options information and clicking on FASTChoice to filter.
Office of Financial AidStudent Employment
While we do not offer federal work-study opportunities, a limited number of graduate student work assignments are available. Work hours range from 10 to 15 hours per week and are selected by the sponsoring professor or office. Graduate student work assignments are typically posted in the What's Happening newsletter at the beginning of the school year or on the Admitted Applicants website. Positions may also become available throughout the year. For information on additional opportunities, contact Vanderbilt’s Student Employment Office.
Students may work up to 20 hours per week. International students may not work off-campus during the first nine months of their program, as governed by the Bureau of Citizenship and Immigration. Thereafter, authorization to work off campus is required for summer internships or during the academic year.
Vanderbilt Student Employment OfficeOther Resources
In addition to federal loans, scholarships, and employment, students should consider personal savings; family funds; sponsorship by their company or government; and other outside loans, grants, and scholarships. SallieMae, a government-sponsored organization, provides the largest secondary market in the student loan business. You can find financial aid information, loan calculators, and a free scholarship search at Sallie Mae.
Several resources exist for international students seeking financial aid to study in the U.S. Some banks will authorize loans to international students, provided that the student has a U.S. co-signer to guarantee the loan.
Additionally, please see our full External Funding Resources document.
External Funding Resources DocumentFAQ
Tuition Information
Q. What is the financial aid timeline?
A.
Filing of the Free Application for Federal Student Aid (FAFSA) is the first step in applying for federal financial aid. The FAFSA may be completed as early as February. You will receive a Student Aid Report (SAR) for your verification. Financial aid awards will be determined based on the information supplied on the FAFSA. A financial aid package will be calculated including any Vanderbilt MBA scholarships, Federal Direct Stafford Loans and a Federal Direct Graduate Plus loan to meet the cost of education or academic budget for the year.
Q. When and how do I start the financial aid process?
A.
The loan application paperwork is usually available in the fall of the year prior to enrollment. Visit Vanderbilt University's financial aid website for details.
Q. How do I apply for financial aid?
A.
In order to qualify for the Federal Direct Stafford Loan Program, you must complete the Free Application for Federal Student Aid, or FAFSA. The Title IV code for Vanderbilt is 003535. Completing your federal income tax return first is recommended. Financial aid is always determined by the federal income tax information filed for the previous year.
Q. How much are scholarships worth?
A.
Scholarships range from $5,000 per year to full tuition. They are renewed automatically for your second year as long as you maintain a 3.0 grade point average.
Q. What are the health care costs and requirements for spouses and/or dependents?
A.
Vanderbilt requires that all students, spouses and dependents have health care coverage. The detailed costs, forms and form completion/submission deadlines are all available on the Vanderbilt Student Health Website.
Q. What is the cost of a Vanderbilt MBA education?
A.
Click here for the current estimated program cost of education for a single student during the nine-month academic year. For your second year of study, you should anticipate a four percent increase in tuition, fees and living expenses. The Vanderbilt Board of Trust approves the budget every July.
Q. What is the interest rate for Federal Stafford Loans?
A.
Federal Direct Unsubsidized Graduate Stafford Loans have a fixed interest rate of 6.8 percent and the Federal Direct Graduate PLUS loan has a fixed interest rate of 7.9 percent.
Q. Are there scholarships available for rising second-year students?
A.
All scholarships are awarded during the application process to incoming students. While the school has given out small cash awards to certain outstanding first-year students in the past, you should not rely on future scholarships/awards for funding.
Q. What loan programs are available to domestic and international students?
A.
Subsidized Direct Federal Stafford Loans are limited to U.S. citizens and permanent residents only. Unsubsidized Federal Direct Stafford Loans and Federal Direct Graduate PLUS Loans are non-need-based loans for U.S. citizens and permanent residents only. The borrower is responsible for the interest on these loans as soon as the loan is disbursed. Private alternative loans are available for all students. A number of major lending organizations offer loan programs to qualified borrowers. A listing is available at the Office of Student Financial Aid. The student may borrow up to the cost of education minus any financial aid. International students can use this resource if a qualified U.S. citizen or permanent resident serves as a co-signer. International applicants may borrow from Prodigy Finance or MPower Financing, without a co-signer. The two may be compared by viewing Vanderbilt’s Office of Financial Aid’s private alternative loan options information and clicking on FASTChoice to filter. For more information, visit Prodigy's website and MPower Financing website.
Q. Are there loans available for international students?
A.
International students may apply for a private alternative educational loan, with a U.S. citizen or permanent resident as a co-signer, for an amount up to the total cost of education. Please contact the Office of Student Financial Aid for additional information. Or you may apply directly to Prodigy Finance or MPower Financing which does not require a co-signer. The two may be compared by viewing Vanderbilt’s Office of Financial Aid’s private alternative loan options information and clicking on FASTChoice to filter.
Q. Who can apply for financial aid?
A.
In order to qualify for federal financial aid, you must be a U.S. citizen or permanent resident. Federal financial aid includes the Federal Stafford Loan Program. International students may apply for a private alternative educational loan, with a U.S. citizen or permanent resident as a co-signer, for an amount up to the total cost of education. Please contact the Office of Student Financial Aid for additional information. Or you may apply directly to Prodigy Finance or MPower Financing Loan, which does not require a co-signer.
Q. What is the Dean's Scholar Award?
A.
The Dean's Scholar Award is the highest honor for an incoming student. For more information, please visit the Dean's Scholars Award Program page.
Q. Can I work as a student?
A.
Most students find that life as a Vanderbilt MBA student is very demanding with classes, group work, the career search, student organizations, and social events. As a result, most students do not work while classes are in session. There are a limited number of opportunities to work with professors and administrators during the academic year for an hourly rate. International students may NOT work off campus during the first nine months of their program as governed by the Bureau of Citizenship and Immigration. Thereafter, authorization to work off-campus is required for summer internships or during the academic year.
Q. How do I contact the financial aid office?
A.
Melinda Nixon is the Owen Financial Aid Officer, and you may reach her by calling her office at 615.322.3591 or by emailing her directly.
Q. How do I apply for scholarships? What are the selection criteria?
A.
All admitted applicants are automatically considered for scholarships awarded by Owen. Selection criteria are based on many of the same factors evaluated for an admissions decision: academic performance, GMAT scores, quality of work experience, leadership potential, and personal characteristics demonstrated through the essays, interviews, and recommendations. There are three diversity scholarships that require a supplemental essay. Scholarship decisions are communicated at the same time as the admissions decisions. More details are available here.
Q. Is it possible for MBA students to live in university housing on campus?
A.
No. At the present time, there is no campus housing for graduate students.
Q. Are graduate assistantships available?
A.
A limited number of graduate student work assignments will be available. These positions range from 10 to 15 hours per week for a professor or one of the school's administrative offices and are selected by the sponsoring professor or office. These opportunities are typically posted at the beginning of the school year. Positions may also become available throughout the year.