Folks, I was browsing through CNBC today and came across this articlewhich said that Stanford was going to pay the $160,000 for tuition and fees for up to three students over two years if they have a connection to the midwest and promise to work there post graduation.
Once scholarship awardees graduate, they must then return to the Midwest "in a professional role that contributes to the region's economic development" within two years of graduating. By the time scholarship winners have been out of the Stanford MBA program for four years, they must have worked in the Midwest for two.
What do you think of the move? What are the job opportunities out there? Should more universities come forward with such schemes to promote uniform economic growth?
I saw that before somewhere else and I think it's a great idea. By definition, it's self-selective, but I am still curious what happens if life happens, i.e. someone falls in love and gets married and doesn't want to leave for the midwest anymore.
Many developing countries have smilar programs where talented students can study in top schools abroad for free but are obliged to come back. In case they stay it just becomes a study loan.
Interesting. Do you know whether these loans carry higher interest than the average student loan? Otherwise what stops someone from taking advantage of these programs?
This seems like it will be really hard to enforce, but I like the idea behind it. Having grown up on a farm in Central Illinois, I'm not sure I could go back...weather is terrible.
Define midwest, Chicago? Tri Cities? Omaha? This isn't like going to a farm.
How are they defining contribution to the region's economic development? I'd be happy to take this scholarship and go work at a PE firm in Chicago but I'm not sure that would meet their standards
Good point ...
I think that this works well for Stanford and for the students that are eligible for this opportunity. I think this is good for schools that want to attract top talent or broaden their reach. However, if the school already has good brand recognition, I don't think it does too much.
I think the Rust Belt will be saved by an incremental 2-3 Stanford MBAs working in St. Louis. If only the Midwest could attract a couple of Stanford MBAs who deign to work there for a couple of years, that would surely make a real impact.
This is PR drivel to me that will be of no consequence. It would be like Stanford offering 1 scholarship to 1 black student to satisfy diversity needs.
Law schools have offered similar programs for students who go into, say, the public defender's office after graduation. The reason is that doing so is akin to charity. I guess Stanford views the Midwest as a charity case.
I agree. This is completely absurd and amazingly condescending considering that the state of California's GDP growth was 0.1% annualized in Q1 2017. But this kind of goes back to how liberals think they can centrally plan, and that economic growth is merely 1 good idea away.
I'm sure this exists at some university ...
Lol - 1) standford considers the midwest to be an economic wasteland, and 2) standford assumes it can cure it.
Did you think only Harvard thought they can save the world?
I put the odds of at least one of these scholarship winners going back to work for MBB in a Midwest office at over 50%. As noted above, this is for the PR.
I'm sure whoever gets it doesn't give a single f
form an LLC, say it failed and thank Stanford for the free education?
What will the stanford grad do in the midwest? milk cows with an app?
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