Online Student Military Benefits Info Session
Interested in learning more about what benefits are offered to military students at Maryland Smith?
In this session, we’ll review the benefits and services available to military students by UMD and the Smith School, and provide an overview of the Online MBA and Online MSBA programs, the student experience and review admission requirements with helpful tips. We conclude with a Q&A session to answer any remaining questions.
- About UMD’s Smith School
- Military Benefits
- Veteran Student Life
- Career Services
- Online MBA & MSBA Overview
- Student Experience
- Admission Requirements and Helpful Tips
- Funding Your Education
- Q&A Session
- Frank Goertner, Director of Military and Veterans Affairs
- Kathleen Finnegan, Online MBA Graduate
- Monica Lawrence, Enrollment Advisor
Our military-friendly online programs offer a number of benefits for veterans and active members of the military in recognition of their service. The University of Maryland’s Robert H. Smith School of Business is dedicated to providing military personnel with special opportunities to ease the transition to academics and make a first-rate education readily attainable.
Originally presented on September 26, 2019.
Christina Walsh: Hello everyone and welcome to the University of Maryland’s Robert H. Smith School of Business online military benefits information session. I’m Christina Walsh and I’ll be your host today. I’d like to thank you for joining us and taking time out of your busy schedule. Before we begin, I’d like to review what you can expect during the presentation today.
Christina Walsh: To cut down on background noise, this session is being shared in broadcast mode. If you have questions during the presentation, please submit your questions using the Q&A widget located on your audience console on the bottom of your screen. Feel free to enter your questions as you think of them and we’ll answer as many as time allows at the end of the session. If you have any technical difficulties, the help widget provides answers to common technical issues. Also, an on-demand version of the webcast will be available tomorrow afternoon. A link to the recording will be sent via email should you like to view the presentation again or share with others.
Christina Walsh: Today, we welcome the following presenters. Frank Goertner is a Maryland Smith MBA and their director of Military and Veteran Affairs. A retired Navy commander, he grew up not far from College Park, graduated from the US Naval Academy in Annapolis and spent more than 20 years on active duty as a pilot and foreign area officer. Now, he enjoys coaching other military professionals through career transitions, promoting US vets as strategic assets for a united economy and keeping Maryland’s old-line legacy of civil-military service strong.
Christina Walsh: Kathleen Finnegan is an intelligence officer in the United States Air Force and has been serving for seven and a half years. She has worked a variety of jobs and has led teams of up to 150 airman analyzing data near real-time for deployed members and as small as five air man providing training. She’s worked at multiple levels of leadership and has had the opportunity to program and execute various budgets of up to $424 million. Kathleen graduated with her Smith MBA in May of this year. Monica Lawrence joins us. She is an enrollment advisor for the Smith online graduate programs.
Christina Walsh: In today’s session, Frank will begin with a short overview of the University of Maryland and the Smith School vision. He’ll highlight key differentiators of the Smith online programs, including their impressive network of Smith alumni and faculty. Next, Frank will talk about the benefits and services offered to military students enrolled in the Smith online programs. Monica will then review the online graduate programs including the structure of each program and benefits of learning online and then hand it over to Kathleen who will speak regarding her experience as a student in the program. Then, we hand it back to Monica to review the steps for applying for admission, including some helpful tips and discuss tuition and the funding options that are available.
Christina Walsh: Following our speakers, we will have a Q&A session to answer any of your outstanding questions. Now, I will turn it over to Frank.
Frank Goertner: Hey, thank you Christina. So a little bit about the Robert H. Smith School of Business to start. Our namesake, as you can see on this slide, actually a picture of the illustrious Robert H. Smith. His claim to fame, if you will, is that he was an innovative developer and entrepreneur and philanthropist. He actually is the, both the brawn and the brains behind Crystal City. He is considered the father of Crystal City, Virginia, which of course has been in the news quite a bit lately as the city which beat out literally every other city in America to host Amazon’s HQ2. So we’re quite excited to be part of his legacy as he was very generous with the school as an alumni and we’ve been able to carry out basically or continue some of the success that he’s been benefacted.
Frank Goertner: Our mission is to create knowledge, and can say, promote a learning environment that fosters intellectual discovery, equipped current and future leaders to assess complex problems and deliver innovative solutions. We do that never losing sight of our core values, which are that we do the right things the right way. We embrace challenges and opportunities and we have a collective passion for excellence. I can tell you as a navy vet and Smith MBA, those are obviously values that we as vets all share and so it’s very easy to get behind them and promote Smith as a great culture for military professionals and veterans. So, why a Maryland Smith degree out of all the other opportunities that are in higher education?
Frank Goertner: Well, first off, we have a world-class faculty rated number one in many areas actually. A significant sort of research areas for business, the business expertise. Our world-class faculty teaches, and this is a unique sort of differentiator for us, they teach across all of our programs to include in our online MBA program. And so, we’ve been very, very careful as we stood up the online MBA program to ensure that online students have as much access to that world-class faculty as our in-residence students. We have a track record for excellence across all of our programs. All of our programs, to include the online programs of course, are founded on experiential reality-based learning. We take it very seriously that the traditional business curriculum is a cohort-based curriculum. So, we try to ensure that they are learning that you’re doing is as much from your peers and your cohort mates as it is from the faculty members that are facilitating the learning.
Frank Goertner: We offer one to one career coaching that we’ll talk about a little bit more later in the presentation. We do offer exposure to as well as support for entrepreneurship. I’ll talk a little bit more about that later as well. And then, we have a strong commitment to community. That goes back to my introduction. The old line state, if you know any … as an introduction to history, the history of Maryland, the old line was actually one of the original regiments of the continental army. They were all Maryland volunteers who, in one of the early battles of the war, the battle of Brooklyn, held off the entire British line so that the rest of the continental army could retreat and basically save itself.
Frank Goertner: They suffered horrible casualties. Nearly half of them actually were casualties of the battle. But they all continued to serve throughout the war. So, president or general Washington at the time actually came to refer to them as his Maryland old line and considered them some of the finest civil-military servants of the nation. We’re proud to continue that legacy here, particularly within our community has Smith Vets. Our rankings I think, speak for themselves. We’re proud to be in particular within the online space, the number eight online MBA program in the country. We have consistently been in the top 10 for a number of years. We’re the number five best online MBA program for veterans as ranked by US News and World Report in 2019.
Frank Goertner: As I said, you can see again that one of our differentiators of course, is our faculty, ranked number one in quality by the Economist. Then of course, we are accredited, but I’ll call attention to the fact that we are accredited by the AACSB. That first bullet there, the Association to Advance Collegiate Schools of Business. As you look across various programs, if you’re considering us among others, that is something that you really want to look for in a business school. That is because the AACSB is the original sort of gold standard of business school accreditations. If a school is accredited by the AACSB, it means they conform to the original concept for MBAs as started in the 1950s and really setting the standard for business education around the world.
Frank Goertner: So we’ve been proud to be a member of that for actually many years at this point. I’ll move on to an overview of the experience for military students here and what you can look forward to if you apply and then hopefully join us. First off, a little bit of background on my role here. I’m the director for military and veterans affairs. What that means is that I am employed here for the purpose of ensuring that the experience of military applicants, students and alumni, is as seamless as possible and is a cut above what you will experience at any of our brother and sister higher education institutions. I run a range of programs that try to ensure that. One of the first is simply some of our policies, so we waive application fees and deposit fees for all military and veterans.
Frank Goertner: We’ve structured our programs to be as friendly as optimized for the use of veteran’s education benefits as possible. One of the ways that we do that is we offer it at one flat price. That means that there are no out-of-state tuition increases. If you use the GI-Bill, there is no need actually for yellow ribbon support. We are a yellow ribbon school. You’ll see that on our site. But that really applies to our in-residence programs in which we have to maintain a differential between in-state and out-of-state. For the online MBA, in particular, and our working professional MBAs, we have no differential between out-of-state and in-state tuition. What that means is that the GI-Bill, the Post 9/11 GI-Bill will actually cover nearly 100% of the tuition.
Frank Goertner: Now, when I say nearly 100%, the only out-of-pocket cost, if you use the post 9/11 GI-Bill is a small fee to cover the room and board at the opening and closing residency of the programs. Again, one of the highlights of our program, we feel, and one of the critical structural components of our program is to afford the cohort the opportunity to meet each other, to know each other and to network with each other at the beginning and the end of the program in face. So we have an opening residency and a closing residency. We do provide room and board during those and the fees associated with that are not certifiable within the VA. Those sum to just a little over $1,600.
Frank Goertner: What that means is that the VA literally for post 9/11 GI-Bill is paying all but $1,600 of your tuition and fees. That means your VA benefits at a 100% eligibility will cover more than $87,600 of the overall program costs. Now, for that room and board at their opening and closing residency, you can take advantage of the military housing allowance, which, as long as you maintain a full rate of pursuit in our program, you will uh, be able to access or you’ll be afforded to military housing allowance rate of $894.50 cents per full academic month. Then you will also be afforded the VA book stipend of roughly $500 per academic semester. If you net that out, both of those, stipends out over the full 20, roughly 23 to 24 months of the program, you actually will be afforded a little over $20,000 in cash benefits from the VA as you proceed through the program as long as you are a veteran.
Frank Goertner: Now, the VA does have a stipulation. You cannot receive the MHA portion of that if you’re active duty military because you’re currently receiving BIH. But if you’re out of the military and you are a veteran, you will receive the full roughly $22,000, excuse me, of military housing allowance plus VA book stipend, and you can obviously use that to offset that $1,600 cost for the opening and closing residency. I encourage you as you apply, if you have additional questions or you want a cost model, or your particular situation, I’m here and available and you can access made through the application’s enrollment advisors.
Frank Goertner: We do have scholarships available for those who do not have a GI-Bill or are not at 100% GI-Bill. Some of those in-house, some of those are across the university and competitive. They have a cycle and so we can discuss that as well more if you need to access that. We also have a scholarship fund here at the University of Maryland for professional development. Once you enroll, you can actually access some scholarship funds that are available, thanks to a really vet friendly benefactor of the university, to attend the co-curricular conferences and other opportunities that you may want to access that are not considered part of the curriculum and therefore not covered by the GI-Bill.
Frank Goertner: The university has military call up procedures, which essentially mean that we will work with you if you are called up to ensure that you either remain enrolled, or if you’re deployed, to ensure that you remain enrolled in the program or that you can take a pause and continue the program with no detrimental requirements to re-enroll when you get back from deployment so you’ll remain an active student. Then finally, we have a host of military and veteran programs that are designed specifically to support and enhance your experience as a student. I’ll go into those here next. One of the greatest things for me about this job is the opportunity to really, every day be involved in a great community of Smith Vets and Terp Vets.
Frank Goertner: University of Maryland is again, proud to be, one of only 15 centers of excellence for veteran student success in the country. We are one of only two schools that have actually retain that title and that designation since the department of education and VA stood up the program several years ago. What that means is we have a really rich and robust governing structure for how we ensure that our veterans students are continuously supported and that we’re continuously upping our game and their support. At the university, if you matriculate in our program, you will be considered a Terp Vet and you’ll have access to a whole host of activities. Many of them fund it for you, a host of networking platforms, a host of professional development opportunities for you. So, you can see some pictures of actually some of them.
Frank Goertner: We have a host of events during veterans week coming up in November. That’s a picture of actually the honoring of the veteran community at one of Maryland’s football games in November. We usually have a distinguished Maryland alumni come back. This last time it was a general Clapper who’s obviously been in the news quite a bit in the last couple of years. There’s another picture there of our Terp Vets club at a local ski outing that we do. We also do kayaking outings. Family are invited and it’s at no cost to any of the participants. We have also a vibrant Maryland Smith Vets club here within the Smith’s Business School. So, you can see a couple of events down at the bottom there. Well, one of that in particular as a networking social that we held down in our DC Campus. If you’re in the area, you’re very welcome and encouraged to come and participate in career networking socials.
Frank Goertner: We’ve got another one actually coming up here in just a couple of weeks for the fall. And then, we also have a great alumni network. You can see actually in the bottom left corner is a picture of an unprompted alumni engagement that we had from one of our Smith vets deployed to Afghanistan, who convinced his battalion commander to let him hoist a Turk flag at their battalion headquarters every Wednesday. He took a picture of it and shared it with us and told us how great it was to be serving beyond just his days at Smith. We have also affiliations with student veterans of America. We have a host of career and transition support opportunities. We’ll talk a little bit more about that in a minute.
Frank Goertner: The University and Maryland is investing heavily in entrepreneurship resources. So, you can have access to an entrepreneurship lab. We have a center here that focuses on entrepreneurship, the Dingman Center for Entrepreneurship. You can actually get free legal advice, corporate advice, coaching, if you do have a particular startup that you’re looking to launch, from either Dingman Center or from the Diamondback Garage, which is our other UMD startup platform. Finally, I talked about our veteran alumni network between, just to give you an idea of the power of the network, we have over 170 Smith vets at any given time studying as students across all of our program. We have almost 70 of those are in the online program. So, there are great opportunities through these events and other platforms to network among your current students.
Frank Goertner: Then, we have literally hundreds of Smith, in fact, thousands, of Smith vets alumni and a network that is global really that you can also access as well as obviously the broader Maryland Smith alumni network that also is in the thousands and [inaudible 00:20:56] globally, and has chapters actually in many other major cities. Okay. On a little bit of career coaching and career services. There is an office, actually a department, of Maryland Smith, which is focused completely on career services. It’s called the Office of Career Services, OCS for short. They have a team of coaches who are trained and employed specifically to coach our students, our enrolled students as well as alumni on availability basis.
Frank Goertner: What they will focus on with you as you go through their continuum of activities is personal branding. How you make a career transition, how you prepare for it through career assessments, how you develop strategies to approach it, how you refine your resume, how you craft cover letters, how you prepare for interviews, how you do post-interview assessments of your performance, and then carry that forward into the next round of applications. How you manage networking in a disciplined and productive way. How you ask for a promotion, which obviously is something that’s new for most military as they go into the civilian marketplace. A lot of this stuff as military the military does for you, right? It creates your network. It actually promotes you.
Frank Goertner: You never have to ask for a promotion, explicitly. You never have to pass or negotiate a raise or a particular salary or an expansion of opportunities, the military programs that for you. That’s something that can be really valuable and necessary as you go out into the civilian world and into professional sort of navigating your own professional course is having a plan and feeling confident about doing that yourself and engaging in those conversations. We also then have a platform, it’s called hiresmith.net that you will get access to as both a current student as well as an alumni, and that has a job posting board. It has events that you can participate in and that allows you again to make the seamless transition from students to alumni. Then the career coaches, as I said, remain very open to helping you even as an alumni if your transition extends, either beyond or starts past your graduation from Smith.
Frank Goertner: That is the conclusion of my portion of the presentation and I will be happy to answer any questions you have about anything that I discussed, but I’m going to hand it back to Christina to discuss the online programs overview.
Christina Walsh: Thanks, Frank. I’m actually going to introduce Monica here who will cover off on the online programs.
Monica Lawrence: Thanks, Christina. Now, the best part of the online experience is that you’ll get the same qualities and rigor as you were on campus while still maintaining flexibility of your own schedule. I just want to point out on the fly as we look at Oliver’s quote, one of the things we pride ourselves on is the access to faculty. We are, as a partner, for student to maintain a material that we set out for. That’s very important because we are definitely student-focused, so that is true. The professors here are ranked number one in the nation for a reason. They are very open with the online students. The professors are accessible to their students during office hours and scheduled appointments for one-on-one time when needed.
Monica Lawrence: We always encourage you to reach out to your professors. In addition to regular interaction online, by attending campus residency, you’ll have the opportunity to start building connections you will rely on throughout your program and your career. You also have the opportunity to meet, interact with professors and classmates that you’ll have time to spend with them during the entire journey, and that is very important when building connection. As we go forward, well let’s talk about the convenience. As always, students have a flexibility in their online program to complete their assignments. They engage with online discussions and view lectures on your schedule. Whether it’s 5:00 AM, lunchtime, or at midnight. Now, our online programs offers in different specializations. We actually have five specializations that are in accounting, finance, information systems and business analytics, marketing or supply chain management.
Monica Lawrence: Or you may just select the general tracks, which allows you to select a specialization that aligns with your career goals. The MSBA program is a structure to provide a strong knowledge of analytics practice that is applicable across the industry and offer a variety of application courses to help you develop special life skills in healthcare, marketing and business leadership. Always know that support is just a phone call away. Your admissions team, student advisors, technical support and faculty are available to assist you during your graduate studies. We work with you, especially during your first term to ensure you’re not falling behind, you’re able to cope and keep up, because we realized, for many of us, online learning is new.
Monica Lawrence: We will be there for you every step of the way. Now, as we look at the following slide, just want to point out the same thing. Here’s a breakdown of the structure of the online programs. As you can see, there’s a slight difference between the online MBA program and the online Master of Science in Business Analytics program. Both programs are 14 weeks long semesters and the programs are designed so that students are taking one to two courses at a time. A full-time student will take two courses simultaneously, the MSBA program is 54 credits. I’m sorry, the MBA program is 54 credits, excuse me, and you can actually take those courses in seven … they’re seven weeks long, to ensure completion of the program and 24 months.
Monica Lawrence: You would take up to four courses in one semester. Now, as you look at the MSBA program, the master of science and business analytics, that program is 30 credits. Each course is 14 weeks long, which means you’re taking just two courses per semester. As you’re going through the online courses, you, along with your cohort, will go through weekly assignments and also participate in weekly live webcam sessions to be able to interact with each other, work on projects, develop your skills as you progress through the program. A typical class is the size of approximately 18 to 24 people. Now, in addition to these required courses that you’re going to have and those required courses that we’re talking about, you will see the international business course and the global study course.
Monica Lawrence: Yeah. Okay? They’re not required, but there are options for individuals that would like to pick those courses. And your second year, you can take those courses, our global business course, whether it’s an opportunity to go abroad with seven to 10 days with our full-time and part-time executive MBA students and apply some of the business concepts you’re learning in other venues. Also, with the MBA program, there are two campus residency that a student do basically comes to, one is open residency and one is closing residency. Now, the opening residency is where you really getting the chance to know the individuals that you’re going to be spending your cohort or your experience of educational learning for the next 24 months or actually up to five years.
Monica Lawrence: It’s very important that you understand that the open residency and closing residency are both required. With the master of science in business analytics program, the program can be completed 100% online. It has no residency requirements. Instead, the student participates in a virtual orientation session where you will meet your cohort and the program directors. I am now going to pass it back over to Christina.
Christina Walsh: Actually, we’re going to introduce Kathleen Finnegan and talk about her experience in the program.
Kathleen F.: Hello everyone. I just want to say starting off, congratulations for beginning your pursuit of finding a master’s program. Whether this is your first masters or maybe for some of you it might be a second master’s, I think it speaks volumes to who you are as an individual for considering the Smith MBA program. I decided to go with the Smith MBA because I was looking for a program that was going to be challenging for me. I had a very strong interest in economics and data analytics and this program offered several classes in both of those. I didn’t want to just check the box. I know that we have to get a master’s, especially for promotion to higher leadership in the military. But one of my flight commanders, very early on, told me education is the one thing that can be taken from you and that’s something I’ve stuck with.
Kathleen F.: I’m really proud that I ended up picking this program and I was able to complete it. What I liked best about it was the fact that I was able to maintain full-time employment and still be able to complete the MBA program. Every single day, especially during my leadership and teamwork classes, I was able to take what I was learning and apply it to the teams I was working with. I had one team in particular that was a mix of contractors, civilians, young airmen and NCOs, and being able to take those leadership concepts and practice them every single day after I had learned them and talked about them in the classroom the night before or the virtual classroom, I should say, really helped solidify a lot of those lessons.
Kathleen F.: Additionally, the statistics that are mentioned about the faculty and the programs of itself, they’re not for show. I can tell you firsthand that the faculty brings an enormous amount of experience from either their work or during their teachings. I learned a lot from them. They’re also very flexible and understanding, especially with the military. I started the program in 2015 and at the start of the program, I had also bought a house and was preparing for my first deployment. I decided to put everything on the plate that I could and I was able to take a break right after starting to complete my deployment, come back, and then as I continued to progress through the program, I had different leadership opportunities presented to me. So I was continuing to change jobs, I would say, on a yearly or almost eight months basis.
Kathleen F.: If I needed to take a break, the faculty understood exactly what I was going through and was able to support me in that sense. They do treat you like a professional. There were some classes where it wasn’t clicking with me, especially one of the finance classes. I think it was accounting. I specifically remember having to email a professor, and it was a Sunday night and I was really struggling with an assignment, and he just had me call him on his cell phone and we talked through the problems I was having and I was able to successfully complete that class and I would’ve never gotten that in a bachelor’s program, I don’t think so. I think that was one thing that I really loved about this MBA, the professors I worked with. Finally, to speak once more about the professors and the faculty itself, they are like a startup in the sense that they take the feedback that they’re receiving from the students and they’re able to change the program to meet the demands that the students have.
Kathleen F.: I was in the program for approximately three and a half years. Over that time, they were making so many great improvements just with the core structure, that it really convinced me that they were on my side and on the student’s side as far as making sure it was the best program for what we needed. The residency experiences are really unique. It was very exciting to go there for the opening residency and be surrounded by people that are just like me or even more ambitious than I am. It was very motivating and energizing to meet all these different individuals with really big career goals. Then, the closing residency was a lot of fun. It was such a positive way to end the program. It’s a culmination of everything that you’ve learned over the two-year time span.
Kathleen F.: They put it into a startup business simulation. I had a great time. I had a wonderful team that I was working with. It really made me feel proud and it was very rewarding to finish that way. If you do end up going with this program, my recommendation for anyone coming in, I thought I had really great time management skills, but it definitely put me to the test. I would say finding a way to maybe reading up on some blogs or picking up some books. I ended up doing a lot of blog research to find out the best methods for time management. I also am the type of person that has to write everything down, so whether you use an Apple app or some type of app on your phone to organize your time, I had to write down hourly schedules on the weekends to make sure I was getting all of my assignments done, so it’s the best way for me to stay on top of things.
Kathleen F.: I’d also recommend making friends in your cohort, especially if you can seek out another individual that is military, like you. It’s just a better understanding of what you’re going through. It may be hard for your friends and your family, your peers at work to understand when you say, “Hey, I can’t go out for the fifth weekend in a row because I’m still studying for my MBA.” They may not get it, but the members of your cohort will, and I would say to tell those friends and family what your career goals are and why this is important to you so they stop pressuring you. Because you will have to sacrifice some of that time. However, as long as you are preparing yourself with strong time management skills, carving out a few hours on the weekend is definitely doable. You just have to make sure that that is a priority for you.
Kathleen F.: I’m happy to answer any other questions if you want to drop them in the Q&A section about my time in the MBA program and what it was like being in the military during that. You can go ahead and drop them in there, but I’m going to hand it back to Christina. Thanks.
Christina Walsh: Thank you Kathleen. Now, we have Monica again to go over some of the admission’s information.
Monica Lawrence: Sure. Now, each of you will have an opportunity to work with an enrollment advisor to ensure you’re able to complete the application progress painlessly. There are a few requirements for the online admissions program. You have to have an undergraduate degree from a regionally accredited institution, a resume, GMAT or GRE scores. Waivers are available for qualified candidates. One letter of recommendation, one goal essay, the application fee of $75 that is nonrefundable, TOEFL score for international students only. Sometimes you’ll have an interview at the discretion of the admission’s committee. If you need to reach out to an admission’s advisor, the actual number is 877-807-8741, or you can email us at firstname.lastname@example.org. Most of the students will get application request, a GMAT waiver or a GRE recommendation at the time of the application.
Monica Lawrence: As a matter of fact, it is required if you’re seeking a GMAT or GRE waiver that you submit it at that time, or submit your scores at that time. Your enrollment advisor has the study tool to help you get started on your GMAT or GRE if you’re planning to take the exam. Also, a GMAT waiver is available for qualified candidates. Please speak to your admissions advisor regarding the eligibility and requirements. Application fee waivers are offered to applicants who are active military or military veterans, alumni or employees of established corporate partnerships but UMD. Now, let’s talk about important deadlines and dates. Our most successful students complete their application within five to seven business days. However, for the spring term, the MBA deadline is November 4th of 2019. MSBA instant decision day, I repeat, MSBA instant decision day will take place on October 2nd 2019. Please reach out to your admissions advisor for more information.
Monica Lawrence: The MSBA application deadline is November 18th, 2019. MBA open residency is January the 16th through the 18th, 2020. The start date is January the 20th of 2020. A link to our online application is available in the resource widget on your screen if you would like to begin your application. Next, I want to cover the financial sources for your application. On-screen is the tuition and fees for both the NBA and the MSBA program for 2019 2020 academic year. The credits for the MBA program is 54 credits while MSBA is 30 credits. The tuition for both programs per credit, $1,644. The MSBA tuition is $49,320. the MBA credit at 54 credit, $1,644 per credit hour. Brings the cost of tuition to $88,776. There is an application fee of $75. Technology fees, $76.50 for eight credits or less, $153 for nine credits or more.
Monica Lawrence: All students, upon the recommendation to the University of Maryland Robert. H Smith School of Business are required to pay a $1,000 deposit. The typical credit per year, your first year as an MBA student is 24 credits. Your first year as an MSBA student is 18 credits. your second year as an MBA student will be 30 credits. Your second year as an MSBA student would be 12 credits. There is no difference between in-state and out-of-state tuition. The tuition covers curriculum, technology, platform licensing as support. MBA tuition also includes room and board accommodation for the two required three-day residency periods. Transportation to and from the Smith school or residency as well as the coursebook and material is not covered in the tuition.
Monica Lawrence: Tuition and fees are subject to change. The university mandated technology fee is charged twice during the spring and the fall semesters admitted. Applicants are required to submit the $1,000 nonrefundable enrollment deposit to reserve a space in the class. The enrollment deposit will be applied as a credit towards your first term tuition. Corporate partnerships and military personnel using their post-military benefits may request to have their enrollment deposit waves. Once again, please speak to your admission’s advisor regarding those details. As Frank covered a lot of the financial covering and award for the military students, I just want to cover them to follow up with them as far as the source of funding, there is the Smith Financial Award, the Merit-Based Award, the Double Terp Award, the UMD Veterans Award and the Corporate Partners Award.
Monica Lawrence: The University of Maryland offers a Merit-Based award to our students who had been formally admitted into the online MBA program. This award is based on an applicant’s academic performance certifications and professional experience. The Double Terp, Smith offers a Double Terp Award alumni of the University of Maryland program. Be sure to indicate that you are a graduate of the University of Maryland College Park on your application for admission. Also, Frank did cover the GI-Bill. We covered the Corporate Partnership and tuition reimbursement, but I do want to focus and remind you that financial aid is available for those who apply and qualify. Graduate loans are up to $20,500 per year. Students may use as little or as much as they need, especially if the student has employer tuition reimbursement benefit and scholarship funds to apply toward their tuition.
Monica Lawrence: Once you have completed your FAFSA, your Free Application for Federal Student Aid application, please feel free to call our Financial Services Center for general questions. Tuition reimbursement. Maybe a student have tuition reimbursement benefits from their employer to help them fund their education. This is a fantastic benefit. Once you have been formally accepted into the program, please make sure that you reach out to our student financial services and cashiering offices to discuss direct billing and question. Other resources that you may find, of course, is having a very helpful resources plan. Your main contact should Samantha Hanssen who’s the program coordinator of billing and financial aid in charge of Smith School students. They hold office hours for online MBA students every Thursday.
Monica Lawrence: You could also reach out to Frank to help in putting this plan together. I highly recommend that you reach out to Frank as soon as possible. I will pass this back over to Christina.
Christina Walsh: All right. Thank you, everyone. Now, I’d like to open it up for our Q&A. If you haven’t done so already and you have questions, please go ahead and enter your questions into the Q&A widget and we will address any questions at this time. Just to kick it off with questions here. Are there any additional benefits if you’re a UMD graduate? Frank to us talk about if there are, with Smith’s graduates, if there’s anything additional with alumni.
Frank Goertner: There is opportunity for the Double Terp. I’m going to pass it over to Monica actually to talk about the double Terp Award as she’d like to. It depends, whether you want to apply it on whether or not you’re using the GI-Bill. So, it does get somewhat complicated depending on the particular scenario. Monica, can you give an overview of the Double Terp Award, and then if that individual would like to follow up with me directly, we can talk through any around use of it with the GI-Bill and whether or not it makes sense.
Monica Lawrence: Sure. Now, Smith offers the Double Terp Award that University of Maryland College Park, who have newly been admitted to the Smith’s school online programs, whether it’s MSBA or MBA programs. Now, you want to make sure that you have indicated that you are a Smith … I’m sorry, a University of Maryland graduate of College Park. If you haven’t mentioned that, it’s going to be a little hard for us to assist you, but we need to know as soon as possible that you are a University of Maryland College Park graduate and you need to enter that onto your application in order to be considered for the Terp award.
Christina Walsh: Okay, great. Thank you. This next question, this attendee lives in the DC area will not require room aboard for the residency. Will they need to pay the residency fee?
Frank Goertner: This is Frank and the answer is yes, you do have to cover the residency regardless because it is a fully hosted residence at the hotel adjacent to the university. The courses are taught during the residency and the simulations take place and the entire cohort has basically events and evenings that are integrated.
Christina Walsh: Great. Thank you.
Frank Goertner: Actually, I do want to clarify one thing that I didn’t make perhaps clear that the residency only applies to the online MBA program. For the MSBA program, there is not an associate at residency. What that means is that, if you are in the online MBA program, or excuse me, online MSBA program, and you have a 100% eligibility for the post 9/11 GI-Bill and you apply it, it will cover 100% of the tuition and fees for the program.
Christina Walsh: Great. Thank you. We’re light on the questions today, because we covered off on what most people want to learn. There’s a question about the GMAT waivers and the percentage granted. We don’t have that information readily available, but we can certainly have an enrollment advisor reach out to the fraternity directly once we find that information.
Frank Goertner: Again, this is Frank. I can speak a little bit to the criteria around the GMAT waivers, how they’re allocated. They are based on basically your transcripts and your work experience and whether or not we have confidence that you will not have issues keeping up with and succeeding in particularly the quantitative courses. That along with, obviously your writing skills, as reflected in your application. If you are pursuing a GMAT waiver, many military and veterans who have any sort of statistical analysis or operational analysis or STEM backgrounds, be it in education or in your work field do fairly well in the waiver process, but you need to highlight your qualifications that would assure us that you’re going to succeed in some fairly quantitative and challenging courses for finance and analytics and data modeling and accounting in particular.
Christina Walsh: Thank you for that, Frank. All right, so I don’t see any additional questions coming in so I’m going to go ahead and close out the session for today. On the screen, you find contact information for our enrollment office, and Frank, should you have any additional questions or would like to begin the application process. I’d like to thank our panelists for their time and willingness to share their expertise. Thank you to everyone who participated. We’re glad you could join us and hope this session was helpful for you. I’d like to give the panelists the opportunity for some closing comments. Frank, is there anything that you’d like to say before we end today?
Frank Goertner: The one thing I’ll say is that if you do apply and you are admitted, then once you commit to join our program I will include you on invitations for our Smith vet events so you can actually get to know us and be integrated into our Smith Vet community even before you start the program. I always love it when I see new people complete the application process and then commit to come to the program because it means that we get to meet them sometime soon.
Christina Walsh: Exactly. All right. Kathleen, is there anything that you wanted to say before we close?
Kathleen F.: No, I have nothing further to add. Thank you.
Christina Walsh: Alright, thank you. Monica, [inaudible 00:53:11] say anything about [inaudible 00:53:13] or anything?
Monica Lawrence: Just one thing, just for the MSBA students and masters of science and business analytics. Keep in mind that the instant decision date is October the 2nd, 3019. Please get your applications in as soon as possible. Reach out to your admission’s advisor. We’re more than happy to assist you through the process.
Christina Walsh: The instant decision day is … what is that?
Monica Lawrence: Instant decision day is where we’re taking your application, all applications that are in the office by October the 2nd will have a decision by October 3rd.
Christina Walsh: For the spring term.
Monica Lawrence: For the spring term. For the spring term only.
Christina Walsh: All right. Great. Thank you. All right. I’d just like to thank everyone again and enjoy the rest of your day.