Tuesday, November 11, 2008

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Scholarships and Financial Aid

Scholarships and Financial Aid

Financing a STEP Master's degree is a serious commitment of resources for most students. Fortunately, the return on this investment will be felt immediately after graduation and well on into your future career (see FAQ for more information on return on tuition investment). To make things easier for top candidates, Case Western Reserve University provides opportunities for merit-based fellowships, stipends, and alternate financing.

Fellowships

Several partial tuition fellowship awards are granted to qualifying candidates each year. These awards are merit-based and are granted to candidates upon admission to the program. Awards are based on the strength of the candidate's academic and personal credentials and the belief that the candidate's attendance at the university will enrich the professional achievement of and add diversity to the incoming class. These awards are not based on financial need. Recipients may be required to report to the STEP Director and perform work as described in the admissions letter.

Fellowships are provided for the first academic year and are renewable for the second year if the student maintains a 3.0 cumulative grade point average, full-time enrollment at the university, good status within the academic policies, and satisfactory performance in job duties if applicable.

Candidates are notified of a fellowship award in their admission letter. Because we have rolling admission, most fellowships are awarded by the end of January (so apply early!).


General Information

Candidates are encouraged to complete the application process early for maximum award consideration. To be considered, applicants must check the Financial Aid box on the application. Approximately one third of the incoming class receives some amount of assistance.

We recommend that you pursue multiple avenues for financial assistance for your program. This includes seeking scholarships, grants, personal savings, employer support, federal and private loans, and part-time employment. Awards offered by CWRU are merit-based and are determined at the time of admission. To check for outside scholarships, visit www.Fastweb.org.

Tuition awards are disbursed at the time of tuition billing after enrollment, and are on a percentage basis (as opposed to a per credit hour basis).

Customizable Internships

STEP Students and Customizable Internships: Meet your new "Commercialization Assistant"

STEP graduate students are required to write a thesis based on a real-world project that is generally part of an extended internship with researchers, companies, or early-stage investment firms. Most STEP students are able to work any time of year (i.e., not limited to summers) because most STEP classes are taught in the evening and the curriculum is flexible. The main focus of the internship is to develop a wide range of entrepreneurial opportunities, including:

  • - Assessing probable impact of a technology on sponsor company and industry

    - Identifying potential markets, applications, partners, and licensing opportunities

    - Assisting in the development of commercialization strategies and/or business plans, and helping to make them operational

    - SBIR grantwriting

    - Identifying near and far-term sources of revenue

    - Technology roadmap development (i.e. identifying research that must be performed to close the commercialization gap)

The duration of a student's involvement in a project will range from 2 months to 2 years. Progress and deliverables are usually monitored by a mentor within the sponsoring organization, along with a STEP representative. The student's stipend and tuition is paid through various methods, such as direct pay from the partner, research grant, Case financial aid, or scholarship. Other arrangement such as equity and intellectual property may be negotiated on a case-by-case basis. Students will work both individually and in teams.

Sample of past CA projects:

  • Alcoa Wheel Products: Two PEP students performed a market feasibility study on company-owned IP and truck tire rims with MEMS sensors (www.alcoawheels.com)
  • USA Instruments (recently acquired by General Electric): PEP student worked to commercialize company-owned IP (www.usainstruments.com)
  • Genvac Aerospace (thin films startup) sent an associate through the PEP to write business plan and assist in overall strategy (genvacaerospace.com)
  • Cleveland Clinic Foundation Innovations: PEP student aided in writing and revisions of a business plan for a spin-off (H-cubed) and worked to organized and develop the portfolio for the BioMEMS area of research.
  • Advanced Lighting Technologies, Ltd.: PEP student worked on commercialization strategies (www.adlt.com)
  • Kennedy Group RFID: PEP students were commercialization consultants (www.kennedygrp.com)
  • UV Sun Sensor (technology from Israeli firm): PEP student wrote business plan for commercialization in the US
  • Symbioware (San Francisco software engineering firm): PEP students writing business plan for automated testing for large software efforts.
  • Calcimetrix: protein tagging (Case researcher-generated IP)
  • Ultrafast Fourier Transform Algorithm (Case researcher-generated IP)
  • Gallium Nitride crystals (Case researcher-generated IP)
  • AHS Hydrofoils, cross-university E-Team with Caltech, USC, and UCLA
  • Nanostar with professors at Taylor University in Indiana
  • Center for the Commercialization of Advanced Technology (CCAT): SERS sensors project with graduate students at University of California San Diego and scientists at SPAWAR (U.S. Navy). www.ccatsandiego.org
  • 5 Itech: STEP students studying commercialization possibilities and/or writing business plans for technologies from the former Soviet Union (www.5itech.com):
    • BioID (biometrix)
    • Jetflux (welding fluxes)
    • ELSYS (bio diagnostic)
    • ARIA Analytics - measuring mechanical properties of liquids and colloids
    • CEMATECH - selling consultant services for Russian finite element modeling group
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