Fees and Financing

Federal Student Loans are issued through the Department of Education and are available to US Citizens and US Permanent Residents only. Other eligibility requirements apply. Hybrid MBA students are typically eligible for two types of Federal Loans:

• Direct Unsubsidized Loans have a maximum disbursement of $20,500 per year. Loan eligibility is not need-based.
• Direct PLUS Loans are loans made to students to help pay for the remainder of education expenses not covered by other financial aid, as determined by FAFSA results. Loan eligibility is not need-based.

The FAFSA4caster is the US Department of Education’s free calculator that gives you an early estimate of your financial aid award.

Applying for Federal Loans:
Students seeking federal loans must complete the Department of Education’s Free Application for Federal Student Aid (FAFSA). UW’s federal financial aid code for the FAFSA is 003798. If you are admitted to the Hybrid MBA Program and your FAFSA is approved, the UW will send you a financial aid eligibility letter and a promissory note.

For complete graduate loan information, visit the UW  Office of Student Financial Aid (OSFA) website.  You may also contact the UW Office of Student Financial Aid at (206) 543-6101 or [email protected]. Hybrid MBA also hosts financial aid workshops on occasion.

Hybrid MBA students may qualify to borrow additional funds through private lending institutions. Loan terms vary widely between lenders and loan programs, and students must apply directly with the lending institution. There are resources available from the OFSA website to make an informed decision about alternative loan options.

Non-U.S. Citizens/Permanent Residents are not eligible to apply for U.S. federal financial aid. International students are encouraged to pursue private educational loans available from their home country.  In some cases, international students may also be eligible for private U.S. loans with a U.S. citizen co-signer. UW’s International Student Services office provides information on Financial Assistance for International Students. Additional resources are available at eduPASS and IEFA. At this time, the Hybrid MBA Program cannot accept applicants who are requesting F-1 or J-1 student visas.

UW Foster Hybrid MBA Social Impact Scholarships

Value

$5,000 a quarter/$15,000 a year. This is a renewable scholarship for a total of $30,000 over the two year program presuming that the recipient continues to meet the scholarship criteria outlined below from the perspective of the scholarship award committee.

Purpose

Our mission at UW Foster is to develop inclusive leaders who embody the Foster School Values of bettering humanity by creating leaders who foster community. These scholarships will be awarded to admitted Hybrid MBA students who demonstrate Foster’s values of commitment to diversity, inclusion, and community building through their leadership in advocacy for others, primarily underserved communities. We hope these scholarships not only attract students who live these values but have a passion to continue fostering having a positive impact through inclusive leadership in their communities.

Requirements

These scholarships are awarded based on merit in year 1 of the program. Scholarships will be awarded at $15,000 a year, split evenly across each quarter ($5,000/qtr) of the program and are renewable into year 2 of the program depending upon both funds availability and each recipient’s maintenance of compatibility with the criteria below. Scholarship availability in limited numbers and awarded on a first applied basis, and awards are subject to change without notice. A short application which includes an essay and interview is required for consideration and must be completed after admission has been awarded.

Criteria

• Permanent Resident or U.S. Citizenship.
• Academic Success and Preparedness – Demonstrate ability to navigate the academic rigor of the program.
• Remain in academic good standing each quarter by maintaining a minimum cumulative GPA of 3.0.
• Uphold student honor code and student conduct and professionalism.
• Complete an interview with the Program Director.
• Must submit an essay to [email protected] by admission deadlines once accepting a program offer.

Round 1 – February 4, 2023

Round 2 – April 22, 2023

Round 3 – July 1, 2023

Impact Essay Prompt

1000 word limit

Submit via email to [email protected] after acceptance of admission

Discuss how you are currently demonstrating your leadership commitment to diversity, equity and inclusion and specifically how you are supporting historically underserved communities. Share how your MBA will impact your future leadership goals towards  creating positive change. Please make sure to share in your essay any recent personal and professional leadership experiences (including volunteer and/or internship) that demonstrate your passion, commitment, and advocacy of historically underserved communities.

As a veteran, current active duty member, or a dependent of military personnel, you may be entitled to VA benefits to fund your education. These benefits may include funding for tuition and fees, housing, books, and meals. For more information on financing your MBA through VA funding, please contact [email protected] or visit the UW Veteran’s Center website.

Military Benefit Resource Links

• Apply for Benefits
• UW Veterans Center
• GI Bill Comparison Tool
• Federal Student Aid – Aid for Military Families
• US Dept. of Veterans Affairs
• Foster Veterans Association
• Military MBA

The IRS provides both tax credits and deductions that may be taken to reduce the federal income tax burden for eligible students. Tax savings are dependent on your personal situation, and students should check with their personal accountant to determine whether their tuition payments qualify as a tax deduction. For detailed information on the education tax credits and eligibility, visit the UW Student Fiscal Services website.

The Hybrid MBA Program will spread over 3 calendar years, increasing the tax years for potential write-offs.