Author Archive for Matt Clemons – Page 20

Decision Follow Up Notes

A few questions have come in since we started to release decisions yesterday and I wanted to take an entry to address some of the common inquiries.  Many of the questions have had to do with whether the decisions we sent out in the first batch were limited to a particular category of admission status.  The answer to this question is both yes and no.

The first batch of decisions we sent out included MIA and MPA applicants from all three categories that I commented on in recent posts:  waitlist candidates, admitted candidates, and candidates not admitted to the program.  It is true however that the Admissions Committee is still meeting to discuss scholarship offers and thus the first batch of decisions did not include any candidates offered a first-year scholarship award.

I should also note that no MPA-DP decisions have been posted yet.  The Committee that reviews MPA-DP candidates is still meeting but decisions should go out very soon.

Related to the topic of scholarships, some have asked how we will notify candidates that applied for the International Fellows Program (IFP) if they were selected.  If a candidate has been chosen as an International Fellow this information will be included in the admission letter.  To say it another way, if no information about the IFP program is present in the admission letter this means a candidate has not been chosen for the program.

Some questions asked were also about whether the decisions sent in the first batch were related to country of origin or citizenship.  The answer to that question is no.  The decisions we sent or will send in the future are not divided by country of origin or citizenship.

The question was also posed of whether decisions are released in alphabetical order.  The answer to that is most definitely no.

For those waiting, I know it is hard, but again our process is a bit complex and the availability of Committee members has a direct impact on how fast we can make final decisions.  We appreciate your patience as we work as quickly as we are able to make final decisions.  When decisions are made we will post them to the system and an email will be sent to the email address listed on the application.

Borrowing Part 3 – International Students

The following post is part of a three part series written by a member of the admissions and financial aid staff, Colin Sullivan.

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If students from overseas (or across great lands) require additional funding to supplement any fellowships, sponsorships, or grants they may receive, they can apply for the very same private loans as their American compatriots, but they must have a US citizen or permanent resident willing to cosign.

We also advise that our international students contact banks in their home countries to research the possibility of education or personal loan opportunities to help cover the full cost of attendance.  Something as simple as a Google search with various applicable keywords (i.e., “student”, “loan”, “international”, etc) can often yield a deep well from which you can siphon exactly the type of financing you may require.

International Applicant Frequently Asked Questions:

Question: I’m an international applicant. Can SIPA or any SIPA employees cosign on my private education loan for me, or can Columbia University provide me with a cosigner?

Answer: SIPA cannot serve as a cosigner on any loans, nor can we refer a cosigner. A cosigner should primarily be an individual with whom you share a personal relationship, and someone who would be willing to assume responsibility for the loan should you become unable to pay.

Question:  I’m an international applicant, and my uncle is a wealthy banker in my home country. Would he be able to cosign on my loan?

Answer: Unfortunately at this time, US private education lending institutions require that either a US citizen or permanent resident cosign on your loan, with no exceptions.

Question: Would I be able to use my personal assets as collateral in the absence of a US cosigner?

Answer: At one time, private education loan lenders were willing to accept collateral, but due to the recent “credit crunch” in the US, they have since discontinued this practice. However, a bank in your home country may be able to provide funding for you in a similar manner.

Question: I have been unable to find a cosigner. Is there any additional financial aid available to me, and does SIPA offer any school-originated loans or financing that I can utilize?

Answer: At this time, Columbia University offers no such programs for either domestic or international students, as we do not operate as a lender.

Borrowing Part 2 – U.S. Citizens and Permanent Residents

The following post is part of a three part series written by a member of the admissions and financial aid staff, Colin Sullivan.

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To participate in the Federal Direct Loan Program, US citizens/permanent residents must first complete the FAFSA (Free Application for Federal Student Aid) online at http://www.fafsa.ed.gov to determine their eligibility. From there, they have three options:

1. Federal Direct Stafford Subsidized/Unsubsidized loans:

* $20,500 annual limit = $8500 subsidized, $12,000 unsubsidized

* 6.8% fixed interest rate (“fixed” meaning for the life of the loan)

* 10 year standard repayment term, beginning 6 months after graduation or separation

2. Federal Perkins loans:

* $6000 annual limit for graduate students

* 5% fixed interest rate

* 10 year standard repayment term, beginning 9 months after graduation or separation

3. Federal Graduate PLUS loans:

* complete entrance counseling and Master Promissory Note

* take cost of attendance and subtract other financial aid awards = maximum amount you can borrow

* 7.9% fixed interest rate

* must pass a credit check, and not have any adverse credit history (e.g., 90+ delinquencies, bankruptcy discharges within past 5 years, default, foreclosures, tax liens, etc)

* 10 – 25 year repayment term, beginning 60 days after final disbursement, but may be deferred while enrolled at least half-time

Should any fellowships and federal financial aid fail to cover your total cost of attendance, you may then opt to apply for private education loans. In many cases of private lending (depending on your personal finances and credit history) a credit-worthy cosigner may be required, while your interest rate and repayment terms could vary significantly. Additionally, you cannot consolidate federal and private student loans together.

International students, stay tuned; we will post your borrowing options in the coming days.

Admission Decisions Category #3: Not Admitted

The final category of admission decision is always the most difficult – those we are unable to admit. As you have gathered by now, admission to SIPA is competitive.  We field applications from around 100 countries each year and the pool is very “deep” with talent and potential.

We seek to admit candidates that clearly demonstrate the ability to handle our rigorous curriculum and who are able to articulate their professional goals and how a SIPA education will help to achieve the stated goals.  It is also true that most of those admitted to SIPA have accumulated full-time work and life experience since graduating from college.

The Admissions Committee is quite aware that there are number of variables associated with differences in culture and education systems.  In some countries for example, it is normal for a student to go directly from college into a graduate program and then on to full-time employment.   We also understand that some students spend considerable time completing internships during their course of study (or participate in extended leaves to work or intern) and that yes, this does constitute professional development.

However, one the greatest strengths of SIPA is the interaction that takes place between students in the program – interaction flavored by experience that can only be gained over time.  I could try to elaborate with details from my own background (I entered graduate school at age 28 after working for 5 years) but rather than do that, let me quote an alumna of SIPA that did come straight out of college into our program, Olutayo Akingbe.  Below is a question we asked her along with her response:

What was the most challenging part of your SIPA experience?

I would have to say that being very young (21 when I entered SIPA) while my colleagues were years older than me was a challenge for me. I didn’t have the work experience, or the life experience, that a lot of my classmates could bring to the table that enriched class discussion.

I turned the challenge into my advantage by using it as an opportunity to learn from the experience of my classmates but in hindsight, I wish I had a little more world experience before attending SIPA. I think I would have gotten more out of my education in the end.

On the topic of rejection, I will offer some personal thoughts.  It is never easy for me to sign off on a rejection letter, but I take some solace in the fact that I know I would not be where I am today without having experienced rejection of my own.

Many, many years ago when I was a senior in college (and the walk to classes was uphill both ways) I knew that I wanted to get out of the U.S. for a while after graduating.  I had my heart set on the Peace Corps and enthusiastically submitted my application.

A few months later I got a letter in the mail telling me a story many people hear this time of year: it was a very qualified and deep pool and I did not make the cut.  It was very hard news for me to hear at the time, but looking back, it was the best thing that ever happened to me.

I still wanted to go overseas so I applied for English teaching jobs in several countries and ended up taking a job in Pusan, South Korea.  I not only had a wonderful time in Korea, I met my wife while teaching.  Looking back, I could not be more thankful that the Peace Corps letter was not the one I had hoped for; even though at the time I received it I was dismayed.

When I think about it a bit more, some of my greatest “failures” have turned into success stories.  I played soccer most of my young life but did not make the team in high school.  I was devastated but a friend recruited me to run cross country and I ended up getting a distance running scholarship in college.  Shortly before moving to New York I had applied for what I thought was the perfect job for me on the west coast.  The school took a pass on me and a short time later the door opened for me to move to New York which was the best thing that has happened for me professionally.

I share these stories to provide encouragement.  Life is full of twists and turns.  We often grapple to understand why things do not always turn out the way we want them to, only later to realize that difficult news opened doors we were later happy to walk through.  Many of you will receive offers of admission and you will come to SIPA and do wonderful things.  I have no doubt that those who do not come to SIPA will also go on to do wonderful things to help make the world a better place.

We have yet to start sending decisions but stay tuned for updates.

Borrowing Part 1 – An Introduction

The following post is part of a three part series written by a member of the admissions and financial aid staff, Colin Sullivan.

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What is $20,000 to $70,000?

a). The price range of a typical brand-new automobile (depending on how jewel-encrusted your steering wheel is)

b). 5,000 to 17,000 rounds bought at happy hour (depending on how frustrating your finals were)

c). the range of loan indebtedness a two-year, full-time SIPA student might have when graduating (depending on how much time and effort that student is willing to spend on seeking out scholarships, grants, and other loan alternatives)

The answer — d)., all of the above. Now, we won’t sell you a car, and we won’t buy you a drink, but we will administer your financial aid. And while Office of Admissions and Financial Aid cannot help you carry the load, we hope to help you lift with your legs and not your back, and avoid any hernias in the process.

In his February 10th blog post, Matt touched upon the notion of education loans as “financial aid”. The whole idea of “aid” (which, for the sake of argument, I’ll define as “assistance”) is not typically that of something that must be repaid (well, maybe karmically), but loans are one instrument that assist, or aid, students in achieving the goal of higher education (another being thousands of milligrams of caffeine).

They’re also one of the first significant investments that many people will make, and can enable increased employability, a higher salary, contributing to retirement accounts, the purchase of property or stocks with that higher salary, etc. As with any investment, the prospective borrower must carefully weigh the risk versus reward of borrowing such large sums for a SIPA education, especially considering that many graduates will pursue careers in the non-profit and public service sectors (not historically known for their piles of money).

Nearly 60% of our student community borrows in order to help fund their studies. Depending on your country of origin, you have different options: US citizens and permanent residents have the right to apply for financing through the Federal Direct Loan Program, while also seeking out private education loans to help cover the full cost of attendance. International students, however, may face more challenges; they do not qualify for financing through the US Department of Education, and must have a US citizen or permanent resident who is willing to cosign on any private student loans.

The Office of Admissions and Financial Aid also maintains a comprehensive external fellowships and grants database, that we strongly suggest all of our US and international applicants and students review. It thoroughly details funding opportunities that may minimize your need for borrowing, a practice which can feel a bit overwhelming at times.

Now, whether you’re motoring across a scorched stretch of desert on your new car’s first road trip, feeling your way home after a 4am Thursday night, or folding paper airplanes with your financial aid forms, it always helps to have a path winding in front of you. In the Financial Aid office, that path first diverges for domestic and international students.

It two follow up entries I will detail the different loan options for US and international students, as your indoctrination into the world of graduate education borrowing. Because, while the cost of funding one’s education at SIPA may initially seem a daunting, the price you pay for not exploring every possible avenue to ensure an amazing SIPA education may end up being much greater.

"The most global public policy school, where an international community of students and faculty address world challenges."

—Merit E. Janow, Dean, SIPA, Professor of Practice, International and Economic Law and International Affairs

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