Yale

How He Paid for His MBA

FAFSA, private loans

His Story

Yale, originally from Ft. Lauderdale, FL, financed his Wharton MBA through FAFSA and with an additional loan received from CommonBond. Founded in 2011 by three Wharton MBAs, CommonBond is an online lending company that connects borrowers and investors to improve the process of financing higher education. The social impact element of CommonBond was a value-add for Yale: for every degree fully funded, the company also funds the education of a student in need abroad.

Yale also earned two paid fellowships within his first few months of school from the Wharton Small Business Development Center and Wharton Customer Analytics Initiative.

Borrowing below the recommended student budget, Yale recommends that incoming MBA students “use what seems like a very scary process as a learning opportunity. Shop around for different rates and terms. Understand the cost of an incremental thousand dollars to your loan. And track your finances very closely–it will teach you some incredibly useful life skills.”

Like many of his peers, Yale didn’t fully anticipate the additional cost of travel, but says, “ I choose to travel quite often, as do many of my peers. To me, the tradeoff of increased borrowing to fund once-in-a-lifetime trips with amazing friends is definitely worth it.” He continues, “With a lot of loan companies, it’s a very simple process to take out additional loans in the middle of the year. If you are concerned that your budget may be off, consider being conservative and adding as the year goes on.”

YaleHometown
Fort Lauderdale, FL

Major
Marketing & Operations Management

Previous Education
Harvard University, BA, Economics

Previous Career
Senior Analyst, PepsiCo