BYU MBA Through the CIS Recommendations, and shared experiences from those who have been there, done that...

On our previous posts, we have discussed the reason for getting MBA Degree . We’ve also talked about  applying to BYU. Now, I’d like to bring to the table the discussion of whether applying for the Cardon International Sponsorship (CIS) as part of your MBA BYU Application.

Mission

With more than 70 graduates, the CIS started in 1986 with two purposes:

-To provide graduate management education for members of The Church of Jesus Christ of Latter-day Saints living outside the United States and Canada.

-To prepare participants for leadership roles in their chosen professions, their communities, and the Church when they return to their native countries or region.

Level of Support

This visionary and truly generous program provides students, during the two-year MBA** program, with:

• A  scholarship  to cover health insurance, textbooks, and tuition
• A loan to cover rent, food and utility expenses

Eligibility Criteria

The following requirements apply to  ALL the applicants:

1.- Being admitted into the MBA Program**

2.- Not a U..S. or Canadian citizen

3.- Temple sealed with current current temple recommends

4.- Be willing to leave the U.S. and Canada after graduation

The CIS program strictly gives you one additional year to stay in the U.S. for an Academic Training. However, I’ve seen that period sometimes has been extended even up to 3 years on a case-to-case basis.

As you can see, the eligibility criteria is really not that complicated. But let me just emphasize one item: I commend you to be thoughtful and up-front on your plans for the future. If you are looking for platforms or opportunities to let you get in the U.S. just to stay there, then the CIS Program is not right for you. Every student that tries to cheat the CIS Program by staying in the U.S., only reduces the chances  for future students more willing to honor their commitments.

So, please don’t do that to the CIS program.  BYU offers several other scholarships and loans just right for your needs.

Personal savings

The loan portion of the funds will vary depending on the number of children you have. From personal experience and from what I noticed with other CIS colleagues, modestly living, the funds will cover your necessities and education expenses.  Please note that during the summer (a 4 month period), the loan is suspended assuming that you will receive an income from your internship, or from your work on campus.

You will need to bring additional savings to:

- Pay for your transportation expenses to get to Provo

- Pay for your rent, and food before the school starts and the first deposit is received (Approx Sep 15)

- Furnish  your apartment (beds, couches, and a TV of course!)

- Buy a automobile (Even though CIS Program explicitly asks students not to get a car while in the program, you will notice, after two weeks, that you will not get too far without one)

- Extra savings for emergencies (such as ours when my 5-year old boy broke his arm)

- Eventual flights to career fairs (Looking for both internship and full time job)

Paying back the loan

So here’s the deal: Upon graduation you will have not only an MBA degree, but a debt that could be about [ 25,000 – 35,000] USD. You could  make your own estimation of the amount of debt.

Six months after graduation, you will have 10 years to pay back your loan.  Currently the interest rate is ZERO %!! for those who honor their commitment to return to their home countries.

 

That’s the deal! To me there is no better opportunity to get a top level MBA degree for just that debt. Just find out the amount of debt that get  graduates from other top schools, and you will confirm what a great blessing the CIS is.

Good luck on your decision!

 

** The CIS Program is also applicable to ANY of the graduate management degrees available at the Marriott School of Management (i.e. MBA, MPA, MAcc, and MISM). But that’s another story…