Stanford MBA Acceptance Letter

[kavita]

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Can you tell me about the Acceptance Letter to start Stanford MBA Non-profit/Public Service Loan Forgiveness application process under MBA Program offered by Stanford Graduate School of Business?

[shikha]

If the submitted materials for admission in MBA Program offered by Stanford Graduate School of Business are accurate and complete, then the Financial Aid Office will process application.

Acknowledgement/Acceptance Letter
The acknowledgement/acceptance letter is based on the amount the applicant receives for the first award disbursement.
In the email, one is requested to sign and return the acknowledgement/acceptance letter to the Financial Aid Office.
A legible fax or scanned signature copy of the letter would be acceptable.
Upon request, one may be contacted by Stanford GSB Development Office to write a thank you letter to the donor on an annual basis. Thank-you letters must be submitted prior to applicants 6-month renewal application.

Award Letter
If one is eligible for program funds, the Financial Aid Office will email an award letter and promissory note that indicates how much one is eligible to receive in these funds.
The award letter will state how much one is eligible to receive in the first award disbursement (first six months of eligibility).
It will also project how much one will receive in second award disbursement (the next six months of eligibility) assuming that there is no change in income, employment and/or marital status.
Eligibility will begin on the first date of the month in which the Financial Aid Office receives the completed loan forgiveness application and additional required materials.
An initial one may not request back payments on educational loans prior to submitting the application materials.

Disbursement
Once the School receive ones acknowledgement/acceptance letter in the mail, it typically takes 2weeks thereafter to send the award disbursement in the form of a check payment.
It is then ones responsibility to pay, in a timely manner, the lender or servicer that holds their Stanford GSB loans.
One residing in an international location will need to consider how to deposit and remit loan payments from their loan forgiveness award to lender in a timely manner.
Each disbursement of funds from the program is made on the understanding that one will remain employed by the eligible organization described in their application for the full six months.
If one change jobs, has a change in salary, or work less than halftime (less than 20 hours), must notify the Financial Aid Office immediately. If requested by the Financial Aid Office, one will be required to repay any funds advanced, for which they have become ineligible.
Typically, the process takes 4 to5 weeks from the receipt of MBA loan forgiveness application documents in the Financial Aid Office to the time in which an applicant will receive the check payment. One should be reminded to continue to make required loan payments during the application process.