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The University of Chicago’s Booth school of business is to increase the scholarship support it gives to US military veterans who are admitted for study on the school’s full-time MBA programme.
Under the scheme, to come into effect in September 2011, all veterans who are deemed eligible by the US government’s Department of Veterans Affairs will receive $10,000 a year in scholarship support for the two-year degree. The Department of Veterans Affairs will match the Chicago funding with an additional $10,000.
Until this year, nine veterans a year have received scholarships at Chicago Booth, about one third of the total number of enrolled veterans. Chicago expects even more veterans to enrol as a result of the scholarship support.
The funding is part of of the Yellow Ribbon GI Education Enhancement Programme (Yellow Ribbon Programme), which allows degree-granting institutions in the US to fund tuition expenses that exceed the highest public in-state undergraduate tuition rate. The institution can contribute up to 50 per cent of those expenses and the Veterans Affairs Department matches that.
“We are expanding our participation in the Yellow Ribbon Programme to accommodate the increased demand from military veterans to enrol in our M.B.A. programme,” says Kurt Ahlm, associate dean for student recruitment and admissions. “We are delighted to offer this additional support to veterans because they bring a unique depth and maturity to the MBA experience, enriching Chicago Booth and their classmates.”