Full-Time MBA Application Tips – Page 3 – Texas McCombs MBA Insider

Category: Full-Time MBA Application Tips (page 3 of 3)

photo of a person on a laptop. Banner reads "Funding Your Full-Time MBA"

Exploring Scholarships and
Loan Options

We understand that pursuing your MBA at a top school is a big investment in your future. As you explore ways to further your education and accelerate your career trajectory, we invite you to think about defining your own return on investment (ROI). Are you looking for a promotion or salary increase? Or are you searching for a new challenge or a way to align your personal and professional aspirations? It may be all of the above, so define your ROI as you consider an MBA for your academic and professional future.

To make your MBA future more attainable, Texas McCombs provides financial assistance to many students to help cover the cost of education. The most common financial assistance comes in the form of student loans, but other options may help fund your MBA. We invite you to review the options below to help facilitate your personal ROI for your MBA.

Recruiting Scholarships

Texas McCombs offers merit-based recruiting scholarships funded through the generous support of individual donors and corporate supporters. All applicants are automatically considered for recruiting scholarships during the admissions review process. Recruiting scholarships are offered to domestic and international candidates who demonstrate a superior record of academic merit and professional accomplishments.

Texas McCombs designates the first-round application deadline as the priority deadline for scholarships and fellowships.

The MBA Program’s scholarship funding varies from year to year, thus the percentage of students who receive scholarships will also vary from year to year. This past admissions cycle, 75% of Admitted Full-Time MBA students received scholarship offers. Scholarships range from $2,000 to full-tuition awards.

For International candidates, 75% of enrolled students received scholarship offers.

In tandem with our recruiting scholarships, McCombs partners with Bay Area for McCombs, Consortium for Graduate Study in Management, Teach for America, Forté Foundation, and Reaching Out MBA to allocate selective scholarship and Fellowship designations to top admitted candidates.

2nd Year Student Scholarships

At the end of the first year, Full-Time MBA students are invited to apply for a continuing student scholarship for their second year. These awards typically range anywhere from $1,000-$5,000. The 2nd Year Full-Time MBA Scholarship awards are given based on academic performance, leadership, and involvement during their first year in the program, as well as financial need.

Institutional Scholarships

The UT Austin Office of Financial Aid administers institutional endowed scholarships for continuing students that first-year MBAs may qualify for, beginning in November of their first year. First-year MBA students may be eligible to apply, but please review the specific criteria and application procedures carefully and reach out to McCombs Financial Aid with any questions.

Federal Loans

Many students are eligible for federal student loans and in some cases, grants. To determine your eligibility you must complete a Free Application for Federal Student Aid (FAFSA). The FAFSA for the 2022-2023 school year will be available on October 1, and Texas has a priority deadline of January 15. At the latest, it is recommended that you have your FAFSA completed by June 1. Students who are eligible to complete the FAFSA are U.S. Citizens, Permanent Residents, and other eligible non-citizens. Please watch this two-minute video for help with the financial aid application process.

Private Education Loans

Private/alternative loans are not offered by federal or state governments. As a result, the terms of the loan will vary from lender to lender. If pursuing a private loan, check with your lender about the length of time your application will remain valid to ensure your approval won’t expire before you actually start the program.

The Texas McCombs MBA Financial Aid team cannot recommend any private loans but will work with all banks and lending institutions once you’ve been approved.

Loans for International Students

For international students, there may be private loan options, with or without a U.S. citizen or permanent resident co-signer. (Note: We, as The University of Texas at Austin, cannot be your co-signer, nor can we recommend any specific lenders.) The student-run International MBA Student Association (IMBASA) is a good resource for information about pursuing an MBA as an international student. You are encouraged to reach out to IMBASA with any questions.

Most students finance their MBA education using multiple sources— a combination of personal savings and loans and, in some cases, scholarship funding. Before you apply to business school, do research on how to finance your education, please reach out to the MBA Admissions Team with any questions.

Visit Texas McCombs MBA to learn more about our programs and upcoming events, or take a peek into student life on Instagram. Check out our Application Process page for more information on application components.

Good luck and Hook ’em!

person smiling at a desk. banner reads "Full-Time MBA Application: Reapplying to Texas McCombs

How to Reapply for Your MBA

August 15, 2022 / Texas MBA Admissions / Comments Off

With each new admissions cycle, questions come in from those who have applied in the past about applying again to join the next class of Texas McCombs MBAs.

First, having applied in a previous year is not considered a negative factor in your application.

We are pleased to see your continued interest in the program and will evaluate your new application on its merits and in the context of the new applicant pool, just as if you are applying for the first time. Below is an overview of important info and tips for reapplying to the MBA program that we hope you find helpful.

Application

All candidates reapplying are required to complete a new application new essay, a new resume, and pay the application fee. Our essay prompts can change from year to year, so copying and pasting your essay responses from a previous application cycle is not recommended. In addition, rewriting your essays shows effort!

Review essays and application components

Learn more about the new application updates

Official Transcripts

We keep your official transcript on file for one year. You will need to submit your transcripts again if you have taken any additional coursework or if you applied more than one year ago. You can always review your application status on the “MyStatus” page to make sure you have current transcripts.

Test Scores

GMAT  and GRE  scores are also kept on file for one year and overall, scores are valid five years after the date the test is taken. This year candidates also have the option of submitting an Executive Assessment (EA) test score or a merit-based test waiver. For TOEFL scores, this period is two years. The McCombs Admissions Committee considers only the highest total submitted score in the evaluation of applications.

Learn about the test options for Full-Time MBA candidates

Recommendation Letter 

Although not required, we suggest you submit a new letter of recommendation. Determine if another recommender may provide a more current, insightful, and thorough perspective on your experience. If you choose to submit a prior recommendation, you will need to email MBA Admissions with a request to resubmit.

How Have You Improved?

While completing your application, you will be asked, “Since your previous application, what steps have you taken to enhance your candidacy?” The Admissions Committee reviews this answer closely so please ensure that you spend time reflecting on and explaining these improvements.

Choosing to reapply to the MBA program shows perseverance and dedication. We encourage you to consider giving yourself a fresh start when you approach your new application. Think through and reassess your application, address any weak areas, and add new information that may be helpful in the admission process.

Good luck and Hook ’em!

image of a person on a laptop with headphones on. A banner reads "Full-Time MBA Application: Admissions Connection

The Texas McCombs Admissions Connection

August 4, 2022 / Texas MBA Admissions / Comments Off

The Texas McCombs Admissions Connection is designed to add a human component to the application process and is the perfect way to wrap up your Texas McCombs MBA application journey.

What is an Admissions Connection?

The Admissions Connection is a live, virtual get-to-know-you session that serves as an opportunity for our applicants to engage directly with a Full-Time MBA Admissions Ambassador. While not required, registering for and attending an Admissions Connection session is highly encouraged.

These sessions are NOT your traditional admissions interview. MBA applicants will have 15 minutes with a student member of the McCombs Ambassador Committee (MAC) to ask questions about the program/student experience, discuss information about their candidacy that is not addressed elsewhere, and align on the next steps in the application process.

Admissions Connections will become available roughly one-week post-round deadline. Once available, applicants will be able to choose a host based on shared interests whenever they register for a slot.

How should I prepare for the Admissions Connection?

The Admissions Connection session is virtual, on Zoom, and will kick off with a very brief mutual introduction between the applicant and the Admissions Ambassador. You will know who your host is ahead of time and will be provided with their LinkedIn page.

Tip: Keep your introduction to 1-3 minutes only. Remember the ambassador will not have access to your resume; we recommend mixing a bit of personal and professional in your introduction.

After the introduction, the applicant will drive the conversation with the Admissions Ambassador.

Tip: Because the session will last approximately 15 minutes, we recommend applicants come prepared with 3–5 questions about the MBA program and/or next steps in the application process.

Here is a list of topics to consider during the Admissions Connection:

Discuss any aspect of your candidacy that has not already been covered in other application components.
Get to know your host and their experience at Texas McCombs. Ask them questions about their MBA journey and the McCombs community.
Ask for tips and advice on how to best navigate and spend the time between the admission decision and program kick-off.

The Admissions Ambassador will wrap up the session by asking you for feedback on your Full-Time MBA admissions experience and covering key dates to remember as you conclude the application process.

Does the Admissions Connection impact the admission decision?

There is no evaluative component to this session, although your Admissions Ambassador will be able to pass along any information you share to the admissions committee.

Tip: Remember that every interaction you have with a member of the Texas McCombs community is an opportunity to make a positive impression about who you are and your MBA candidacy. From speaking to our receptionist at the MBA Program Office, to meeting an Admissions Officer on the road, all members of our community have an opportunity to provide informal feedback on MBA applicants, so make every connection count.

Is my admission decision impacted by not having an Admissions Connection?

The Admissions Connection is optional and applicants will not be penalized if they decide to not take advantage of it. Keep in mind, however, attending a session helps show the committee that you have a genuine interest in getting to know the Texas McCombs MBA program.

Read our Admissions Connection FAQ page for more information. Visit Texas McCombs MBA to learn more about our programs and upcoming events, or take a peek into student life on Instagram. Check out our Application Process page for more information on application components. Please reach out to the MBA Admissions Team with any questions.

Good luck and Hook ’em!

Full-Time MBA Application: 2022-2023 Updates and Changes

Full-Time MBA Application Changes: Increasing Accessibility and Minimizing Bias

June 2, 2022 / Texas MBA Admissions / 3 Comments

Each cycle, the Texas McCombs Full-Time MBA Admissions Team reviews MBA application requirements to ensure our admissions process is as equitable and fair as possible. This upcoming cycle, we are excited to announce some changes to our application components that help reduce bias and ensure our application process continues to be accessible and inclusive.

Being human centered and future focused is at the core of what we do at Texas McCombs, and the updates to our application components were informed by the evaluation processes our MBA students experience in their job search, while also increasing the opportunities for applicants to showcase who they are as an individual. Stay tuned for our blog series on key application components over the summer and mark your calendar for our Full-Time MBA Class of 2025 application opening in August 2022.

APPLICATION COMPONENTS FOR THE 2022-2023 ADMISSIONS CYCLE

Our admissions committee dedicates itself to a meticulous, holistic review of each application. Our objective is to determine if you are a good fit for Texas McCombs and to be sure that we are the right school for you and your goals. There are no fixed criteria or weighted portions of the application. The following application components will be required this cycle:

Standardized Test (GMAT, GRE, Executive Assessment) or merit-based test waiver
English Proficiency Test (TOEFL, IELTS) or waiver (international students only)
Undergraduate transcripts and graduate transcripts (if applicable)
Resume
One Professional Letter of Recommendation
One Written Essay
Video Assessment
Optional: Texas McCombs Admissions Connection

APPLICATION DEADLINES

Applications for the Full-Time MBA program are accepted in three rounds, and the program enrolls annually every August. Applications must be submitted by 11:59 PM Central Time on the deadline date for each round.

Round 1: October 11, 2022
Round 2: January 5, 2023
Round 3: March 28, 2023

CHANGES TO TESTING REQUIREMENTS

To provide MBA candidates with more flexibility, we are excited to share that applicants have more options than ever before when considering how to complete the standardized test requirement in their application. All applicants are required to submit a GMAT, GRE, or Executive Assessment (EA) score. We will waive the testing requirement if:

Expired (taken 5+ years ago) GMAT, GRE, or EA score is submitted or
General Test Waiver (merit-based) is approved

Standardized exams like the GRE, GMAT, and EA help us to evaluate a candidate’s academic preparedness for the rigor of business school and is also one metric used to compare candidates within a large pool of applicants. However, there are some scenarios where a candidate’s application might shine without the standardized test.

Learn more about the criteria required to apply for a general test waiver.

Note that the majority of applicants applying to the Full-Time MBA program take either the GMAT or the GRE due to the competitiveness of the pool. In many cases, having a strong GMAT or GRE score will make you more competitive for both admission and scholarship opportunities. Learn more about the different test options.

CHANGES TO ESSAY REQUIREMENTS

The written essay is a critical means of assessing an applicant’s background and goals, communication and writing skills, and motivation for attending Texas McCombs. In order to streamline the application process, the Full-Time MBA Admissions Team has reduced the number of required essays from two to one.

The essay prompt for the 2022-2023 admissions cycle is as follows:

Picture yourself at graduation. Describe how you spent your time as a Texas McCombs MBA to achieve your personal and professional goals. (500 words)

Additionally, and if applicable, applicants can provide an optional statement in the essay section of the application. Applicants should only provide an optional statement if there is something they wish to explain about their candidacy that is not addressed elsewhere.

VIDEO ASSESSMENT

Texas McCombs is excited to introduce the video assessment as a new application component for the 2022-23 Full-Time MBA admissions cycle. All applicants will complete the video assessment, which will give MBA candidates increased accessibility to the application process and the opportunity to share their story with us in their own voice. Through the video assessment, the Admissions Committee will have a chance to experience the “real” you, beyond a resume, test scores, and transcripts. Lastly, the video assessment will enable Texas McCombs to reduce bias in the admissions process by providing all applicants with a structured and consistent assessment experience.

MBA candidates with a submitted application, whose application fee has been paid or waived will be invited to take part in our Texas McCombs Video Assessment. The video assessment is virtual and on-demand, so applicants can complete it from anywhere in the world at a time in the day convenient to them. The video assessment will help the Admissions Committee evaluate the following competencies that are crucial for the fit and success of our students within the program and their future careers:

Adaptability/Resilience	Ambition
Motivation	Career Goals
Empathy/Inclusivity	Verbal Communication
Collaboration	Self-Awareness

Applicants will be asked to use the video assessment tool to record responses to seven questions, with each response lasting no more than three minutes each. Detailed instructions will be provided with the video assessment invitation so you know what to expect, and applicants will have the opportunity to practice as many times as they wish before completing the final video assessment. Applicants will have seven days from the invitation to complete the final video assessment.

This is your time to show us your personality and enthusiasm! We recommend that you prepare for the video assessment similarly to how you might prepare for an interview. Think reflectively about your work experience, strengths, weaknesses, and practice your delivery. More tips will be provided in the coming weeks.

TEXAS McCOMBS ADMISSIONS CONNECTION

One of the most vital parts of the MBA application process at Texas McCombs is the human component. We pride ourselves on getting to know you at a personal level during the admissions process and will continue to provide hundreds of virtual and in-person ways for you to meet our students, alumni, faculty, and Admissions Team.

We invite all MBA applicants to close out their application process by signing up for a “Texas McCombs Admissions Connection” after completing all other MBA application requirements. These live, virtual get-to-know-you sessions are an opportunity for our applicants to engage directly with a Full-Time MBA student. While not required, registering for and attending an Admissions Connection session is highly encouraged.

These sessions are NOT your traditional admissions interview. MBA applicants will have 15 minutes with a member of the McCombs Ambassador Committee (MAC) to ask questions about the program/student experience, discuss information about their candidacy that is not addressed elsewhere, and align on the next steps in the application process. You will be able to choose your host whenever you register for a slot. There is no evaluative component to this session, although your student host will be able to pass along any information you share to the admissions committee.

Because the session will last approximately 15 minutes, we recommend applicants to come prepared with 3–5 questions about the MBA program and/or next steps in the application process

Admissions Connection FAQs

Texas McCombs is committed to reducing bias while ensuring our application process continues to be accessible and inclusive. By expanding our testing options and inviting all applicants to participate in our new Admissions Connection and Video Assessment components, we are delivering on this commitment in a more equitable way.

The Full-Time MBA 2022-2023 Application will open in August. Stay tuned for our blog series on key application components over the summer. Please sign up for MBA news and follow us on Instagram at @UTexasMBA to stay updated.

Join us at an upcoming event to connect and learn more about Texas McCombs.

Hook ’em!

Texas McCombs MBA Insider

Category: Full-Time MBA Application Tips (page 3 of 3)

Exploring Scholarships and
Loan Options

Recruiting Scholarships

2nd Year Student Scholarships

Institutional Scholarships

Federal Loans

Private Education Loans

Loans for International Students