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GSB updates community on financial aid reform

(COLLEEN MCCALLION/The Stanford Daily)

Last week, the Stanford Graduate School of Business (GSB) released a statement on its progress reviewing financial aid practices after a report revealed the school misled the public on award criteria. The statement expanded upon an earlier message GSB Dean Jonathan Levin wrote promising to evolve the school’s financial aid process.

The statement was issued by the assistant dean and director of admissions and financial aid of the GSB, Kirsten Moss. It outlined progress on the three measures Levin highlighted to restore transparency to the GSB financial aid process, which included soliciting input from MBA students, faculty members and other stakeholders, crafting a transparent financial aid policy and publicizing the criteria for fellowships.

The GSB previously claimed that financial aid was awarded on a needs-based system. An analysis performed by Adam Allcock M.B.A. ‘18 on improperly secured data from GSB servers revealed that the school used financial aid to favor women and students with backgrounds in finance and disfavor men and international students.

Moving forward, the GSB is “appointing an advisory group, composed of faculty and alumni, who will provide input during the discovery and design phases,” Moss wrote.

Students wishing to give input can attend Moss’s office hours, which will begin in February.

“Over the next few months, my objective is to earn your trust by facilitating an open and inclusive dialogue,” Moss wrote.

Kristin Harlan, GSB director of Global Media Relations, wrote that “it is too early report any common themes” emerging from these discussions. She added that Dean Levin and Moss have been “communicating regular updates to the GSB community and will continue that cadence.”

The next step, the letter stated, is to identify the core values around which the GSB can fashion its financial aid policy.

“This process will align financial aid with the values of our institution, needs of our students, and realities of the marketplace,” Moss wrote.

The GSB recently finished accepting students for its class of 2020. According to Moss, the students will receive financial aid based on their financial background only.

Information provided to students about fellowships reflected this financial aid policy.

“It is vital that GSB fellowship awards are underpinned by a transparent and well-understood process that treats students fairly,” Moss wrote.

The GSB did not address whether future fellowships would be awarded solely on a needs-based system.

 

Contact Nicholas Midler at midler ‘at’ stanford.edu.

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