Programs with full financial support?!

[Stochastic]

Hi All,
I am International applicant wish to study finance with full financial support.This is my profile:
Master Student in mathematics with concentration in probability and statistics , current GPA= 3.66
Undergraduate degree in mathematics , UGPA=3.2
GRE general Q=169 , V=145, AW=2.5!!!
GRE subject in math 860, 91%
TOEFL=92, S=22 , L=22 , W=21 , R=27
I do not have any related work experiences.
For fall 2013 I have applied to computational finance program at purdue university.How do you think about my chance of admission at purdue CF program?
Due to some problems I just have decided to apply to more programs in finance, preferably for fall 2013, I want to get admission somewhere with full financial support.I would appreciate if you suggest other finance programs that I can apply to.
In addition, any advice about Improving my profile for fall 2014 is really appreciated.
Thanks in advance for your kind attention.

 

[mfegrad]

mfe programs are terminal degrees. if you want full financial support, you might want to pursue a phd (or marry well).

 

[Stochastic]

mfe programs are terminal degrees. if you want full financial support, you might want to pursue a phd (or marry well).

I know that mfe programs usually do not provide ful financial support, but some of them do!for example purdue CF program: http://www.stat.purdue.edu/purdue_comp_finance/

 

[shivgan joshi]

I know that mfe programs usually do not provide ful financial support, but some of them do!for example purdue CF program: http://www.stat.purdue.edu/purdue_comp_finance/

Hi,
When did you give your GRE?

Funding depends on chances of RA or TA, for that you need have teaching or research experience.

Idea funded candidate: CFA/FRM , teaching exp, research published in top 10 finance journal, GRE 165+ Q, 160+V, TOEFL 115.

Although seniors might help more, but I think there is no funding in the MSQF programs, but if you move towards maths or stat side then you might get funded. As Math is a pure science area, there is funding in math.

 

[Lyn Huang]

Maybe you can try several grader jobs. The pay is not bad

 

[DavidH]

if you want full financial support...(or marry well).

LOL

 

[Stochastic]

Hi,
When did you give your GRE?

Funding depends on chances of RA or TA, for that you need have teaching or research experience.

Idea funded candidate: CFA/FRM , teaching exp, research published in top 10 finance journal, GRE 165+ Q, 160+V, TOEFL 115.

Although seniors might help more, but I think there is no funding in the MSQF programs, but if you move towards maths or stat side then you might get funded. As Math is a pure science area, there is funding in math.

My GRE was in 11/2012.
I just were TA for calculus and had some private teaching...
115 on TOEFL and 160 on Verbal are really though for International applicant!It takes a lot of times!
Do you mean one should have all of these things to be considered for financial support?!!!! Are you sure about effect of Verbal score on admission?!

Maybe you can try several grader jobs. The pay is not bad

I can not count on possibilities...I should have certain and determined financial plan before arrival to US.

 

[Andy Nguyen]

I should have certain and determined financial plan before arrival to US.

Your option as an international student is to get an all-expense-paid scholarship into one of those PhD programs. Look into some government scholarships as well. They are highly competitive.
Or you can do like most other students and get your family to spend all their savings (or take out a huge loan) to pay for your education. If things work out and you get high-salaried job, great. If things don't work out, nobody wants to talk about it.
Lately, the prospect is not so great.

 

[pphan]

Median starting salary is around 100k, you should also factor the high cost of living and tax of those financial centers like NY, SF.... With roughly 100k in debt, 8% of interest , and the instability of the job market, this is a very tough equation to solve. :D

 

[Andy Nguyen]

Median starting salary is around 100k, you should also factor the high cost of living and tax of those financial centers like NY, SF.... With roughly 100k in debt, 8% of interest , and the instability of the job market, this is a very tough equation to solve. :D

A lot of international students will get a big surprise when they pay their tax. $100K may sound like a huge fortune where they come from but not a lot when it's said and done.

For a single person living, working in NYC and make 100K gross, their 2013 effective tax rate may be 30-40% of their gross income.
I have friends who make 100K+ salary and still paying interest for their undergrad student loan.

 

[pphan]

That's why you need program like Baruch with strong placement, teaching relevant skill, around 60k debt (tuition and living expense for 1.5 -2 year), and median 100k starting salary(don't forget they still have a 70k starting salary). You want to make big buck in this economy but you also need to survive first :P. I suggest foreign students should read the story of Long Term Capital Management to cool their head down before making such a rather risky investment. In my humble opinion, it also depends on the ability to network, luck and a long term career planning.

 

[mfegrad]

40% tax sounds about right after everyone gets their cut. so even at 100k, that's 60k to live on. rent at 1500/mo (you can go less, but that's actually really low) means you have around 40k to live on. call it 1k a month for food, transportation, utilities, etc. you have about 30k after all is said and done to actually live on, save, and pay off debt.

and 100k base sounds great, but you have to remember not everyone makes that. bonuses aren't what they used to be.

you're not really going to be hired as an md on a trading desk at gs fresh out of school. unless you are seriously driven and have a passion for the markets (don't kid yourself if you don't)...is it really worth it?

 

[Stochastic]

Thanks you all guys for your information and kind attention.So it seems that I should forgot full financial supports.
But, about loans ,It seems too risky, and I guess in good situation It takes 3 years to repay it. There are also other problems for me, Can I be sure about getting a job in US after graduating?I am Iranian applicant, and it seems that a lot of student must leave US after graduating,In this case, repaying such a great loans with my countries salaries is near impossible.My parent salary is 9000$ per year!!!
I can get a loan from my home country.And also I think I can find cosigner in us , but in both cases I need to be sure about repaying loan myself.

 

[Andy Nguyen]

But, about loans ,It seems too risky, and I guess in good situation It takes 3 years to repay it. There are also other problems for me, Can I be sure about getting a job in US after graduating?I am Iranian applicant, and it seems that a lot of student must leave US after graduating,In this case, repaying such a great loans with my countries salaries is near impossible.My parent salary is 9000$ per year!!! I can get a loan from my home country.And also I think I can find cosigner in us , but in both cases I need to be sure about repaying loan myself.

Forget about MFE. You may put your whole family in debt for the rest of their life.
To see how long it would take to pay off your student loan http://cgi.money.cnn.com/tools/studentloan/studentloan.html
For inspirational reading on jumping on a degree and taking in on a loan without understand the financial aspect of the decision, read this
http://www.nytimes.com/2011/01/09/business/09law.html?pagewanted=all

 

[Stochastic]

Forget about MFE. You may put your whole family in debt for the rest of their life.
To see how long it would take to pay off your student loan http://cgi.money.cnn.com/tools/studentloan/studentloan.html
For inspirational reading on jumping on a degree and taking in on a loan without understand the financial aspect of the decision, read this
http://www.nytimes.com/2011/01/09/business/09law.html?pagewanted=all

I knew how I should calculate time needed for pay off a lone, the important thing here is not calculating,is my income, my expected income and related risks, I am trying to find information and get feedback about these things!
Thanks for suggested reading, I will read it carefully as soon as possible.
I know that taking a loan about 80000$ for a person whose family yearly grass income is 9000$ is more than too risky, But I thought about a very little possibility of having a certain financial plan...for example if I have guaranteed minimum salary after graduation, with considering possible loans and costs I can made a logical decision!
Anyway it seems that I should forget about MFE!