Posted on 12/02/2017 2:52:46 PM PST by nickcarraway
Fellowship grants were used to rank students according to their value to the school
Half the students at Stanford University’s elite, $70,000-per-year business school receive fellowship grants. For years, the school has made it clear that the money goes to those who might otherwise be unable to attend, or who might be forced — against school recommendations — to work part-time during the Master of Business Administration program.
”All fellowships are need-based,” says promotional material from the Graduate School of Business. “It’s important to understand that we do not negotiate fellowship amounts or eligibility.”
But now, thanks to a huge breach of students’ personal financial data, the school has been caught cheating — by one of its own.
In February, MBA student Adam Allcock discovered 14 terabytes of confidential student data from financial aid applications, according to a new report. Later that month, Allcock reported the breach to the school’s financial aid director, and the records were removed within an hour, the report said.
However, Allcock had dug deeply into the data, spending 1,500 hours analyzing the information and putting together an 88-page report, according to Poets&Quants, a website covering business school news.
Allcock’s conclusion? The Graduate School of Business had not been honest with students, in fact had been “lying to their faces” for more than a decade.
Rather than being solely need-based, the fellowship grants were used to rank students according to their value to the school, Allcock determined.
The business school had routinely granted fellowship money to students without regard for their financial need, often favoring women and people with a background in finance — even though many had more money saved up than students who received less financial support, Poets&Quants reported.
(Excerpt) Read more at mercurynews.com ...
Color me shocked
"If the University System were a STOCK, I would short it aggressively.."
Allcock had dug deeply into the data, spending 1,500 hours analyzing the information and putting together an 88-page report
Sounds like a hacker to me. How do you spend 1,500 hours in a month that could have no more than 744 hours?
One way of looking at it is that although they were hypocritical, they invested for maximum return, which is rational, if not PC. It was a merit system, with “points” given for prospective future returns to the school.
But, it wasn’t supposed to be. Shame! Shame! Shame!
A great college but it has - at least from time to time- had its racism issues — including AA admits who often serve to bring up the rest of the classes — and doling out financial aid on a racist basis ( in one prof school at least they once restricted aid to students of one privileged minority race only—everyone else was told NO Help - you’re the wrong race). I don’t know if this continues there now or not
Gee, I wonder if Chelsea Clinton got any financial aid?
$70K a year. Just imagine.
When will the higher education racket be busted?
But you can get a scholarship if you have a “particularly compelling” bio which will make Stanford look better.
The records were removed that month. I figure he kept a copy, and spent a fair amount of time analyzing said data.
Imagine...LIB liars running a university??? I’m shocked.
Her crooked mama probably rigged the system to give her the entire pot
$70K a year. It’s a lot, but if you go there, you have to willfully decide not to be successful.
No kidding. A golden ticket.
How do you spend 1,500 hours in a month that could have no more than 744 hours?
I noticed that too.
The 14TB number is also fishy. For comparison, the entire print collection of the Library of Congress is about 10TB.
10TB? Maybe, at say 2K/per page of text. I just glanced at a directory of some cookbooks I d/l’d from LOC. The PDFs range from about 50MB to 280MB...
$70/year is a heck of a lot more than what I paid for my MBA.
At the time, only 25% of Business Schools were accredited...including the grad school I attended and graduated with national honors.
Billable hours.
Lawyers do it all the time.
.
Still not nearly as bad as Cal.
.
Well - you come out making $200k/yr with bonuses and stock from Stanford’s MBA program so it doesn’t take long to re-coup the cost of the program. Top 10 MBAs are worth the cost.
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