MASTER OF BUSINESS ADMINISTRATION (MBA) CARNEGIE MELLON UNIVERSITY TEPPER SCHOOL OF BUSINESS SILICON VALLEY CAPSTONE CATALOG

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1 MASTER OF BUSINESS ADMINISTRATION (MBA) CARNEGIE MELLON UNIVERSITY TEPPER SCHOOL OF BUSINESS SILICON VALLEY CAPSTONE CATALOG As a prospective student, you are encouraged to review this catalog prior to signing an enrollment agreement. You are also encouraged to review the School Performance Fact Sheet, which must be provided to you prior to signing an enrollment agreement. Carnegie Mellon University is a private institution approved to operate by the California Bureau for Private Postsecondary Education. Carnegie Mellon University is accredited through a voluntary, peer-review process coordinated by the Middle States Commission on Higher Education (MSCHE or Middle States). MSCHE is one of six regional accrediting agencies in the United States, each accrediting institutions of higher education within a specific geographic region. Middle States is recognized by the U. S. Department of Education. This recognition enables MSCHE s member institutions to establish eligibility to participate in federal financial aid programs (e.g., federal loans, grants, and work-study) administered by the U. S. Department of Education. Carnegie Mellon University has been accredited by Middle States since More information regarding accreditation standards and processes as well as the University s re-accreditation reports on the Middle States Accreditation website ( PROGRAMS OFFERED (DESCRIPTION OF CAPSTONE) The Tepper School at Carnegie Mellon University offers a Master of Business Administration (MBA) degree program which requires 192 units (64 credits) of coursework generally completed over a 2-year period for the full time program. The full time MBA requires second-year masters students to complete a 12-unit (4-credit) capstone course during the Spring semester (minis 3 & 4) with an option of completing mini 4 (8 weeks) at the Carnegie Mellon University Silicon Valley campus. The course, Designing and Leading a Business, is a team-based project course for students in their final semester of the MBA program. Student teams will be engaged in designing a business through a series of stages over the semester (Mini 3 in Pittsburgh and Mini 4 in Silicon Valley). During the course, the team will advance the commercialization process to market entry, build out their teams, develop and implement financing strategies, and prepare for company launch during the course, or shortly after graduation. Students attend workshops, networking events, weekly team meetings and coaching sessions. The course culminates in a Demo Day, which is a venture pitch to an external audience consisting of potential investors and/or partners. SCHOOL CONTACT INFORMATION Carnegie Mellon University Tepper School of Business 5000 Forbes Avenue Pittsburgh, PA Phone: Fax: Website: 1

2 CLASS LOCATION Branch Campus: Carnegie Mellon University - Silicon Valley NASA AMES RESEARCH PARK, MS Moffett Field, CA Phone: (650) ; Fax (650) ADMISSIONS POLICIES Students applying to the MBA program must take either the GRE or GMAT. Transfer credits are not accepted. The Tepper School requires all students to have at least a bachelor s degree; thus we have no ability-to-benefit students. More information about admissions policies may be found on our website: COURSEWORK MBA coursework may be found on our website, FACULTY AND FACULTY PROFILES Tepper School faculty are known for producing impactful research across a wide range of academic disciplines as well as their commitment to excellence in teaching. Our faculty comprise senior professors, recognized for their contributions to business and public policy as well as an impressive record of academic citations, and energetic young scholars, who currently are creating new avenues for exploring knowledge within an increasingly complex and global marketplace. Our faculty members represent Nobel laureates, organizations representing key management disciplines, editors of top academic journals, and frequent contributors to programs and articles. The Tepper School faculty has made significant research contributions in every major business field. The integration of academic disciplines both in research and teaching is a hallmark of Tepper School faculty, including work with colleagues at other world-class schools at Carnegie Mellon University. This culture of collaboration creates a unique knowledgebased environment and offers new opportunities for expanding knowledge through a unique ecosystem of cross-campus collaboration. The school s faculty operates as small, closely-knit unit and as an integral part of the greater Tepper School community of students and alumni. We maintain one of the best faculty-to-student ratios of any Top 20 business school - 1:5. Faculty members are well-grounded in the fundamentals of business and serve as consultants and advisors to businesses, agencies, international organizations, and national governments. These experiences, along with ongoing research, all translate in to the school s classrooms creating an unparalleled experience for students. Faculty profiles may be found on our website: Additionally, information about our 9 Nobel Laureates may be found on our wesbite: 2

3 STUDENT TUITION RECOVERY FUND (STRF) The State of California created the Student Tuition Recovery Fund (STRF) to receive or mitigate economic losses suffered by students in educational programs who are California residents or are enrolled in a residency program attending certain schools regulated by the Bureau for Private Postsecondary Education. You may be eligible for STRF if you are a California resident or are enrolled in a residency program, attending prepaid tuition, paid STRF assessment, and suffered an economic loss as a result of one of the following: 1. The school closed before the course of instruction was completed. 2. The school s failure to pay refund or charges on behalf of a student to a third party for license fees or any other purpose, or to provide equipment or materials for which a change was collected within 180 days before the closure of the school. 3. The school s failure to pay or reimburse loan proceeds under a federally guaranteed student loan program as required by law or to pay or reimburse proceeds received by the school prior to closure in excess of tuition and other costs. 4. There was a material failure to comply with the Act or the Division within 30 days before the school closed or if the material failure began earlier than 30 days prior to closure, the period determined by the Bureau. 5. An inability after diligent efforts to prosecute, prove, and collect on a judgment against the institution for a violation of the Act. You must pay the state-imposed assessment for the Student Tuition Recovery Fund (STRF) if all of the following applies to you: 1. You are a student in an educational program, who is a California resident or are enrolled in a residency program, and prepay all or part of your tuition either by cash guaranteed student loans, or personal loans, and; 2. Your total charges are not paid by any third-party payer such as an employer, government program or other payer unless you have a separate agreement to repay the third party. You are not eligible for protection from the STRF and you are not required to pay the STRF assessment if either of the following applies: 1. You are not a California resident, or are not enrolled in a residency program, or 2. Your total charges are not paid by any third-party payer such as an employer, government program or other payer unless you have a separate agreement to repay the third party. STUDENT S RIGHT TO CANCEL (WITHDRAWAL/LEAVES OF ABSENCE) 1. A student has the right to cancel the student s Enrollment Agreement by either taking a leave of absence from the Program (leaving Carnegie Mellon University temporarily with the firm and stated intention of returning) or by withdrawing from the Program (leaving Carnegie Mellon University with no intention of returning). If the student withdraws or take a leave of absence from Carnegie Mellon University, the student may be eligible for a tuition 3

4 adjustment or a refund of certain fees (excluding any Application Fee, Registration Fee and Enrollment Deposit, and any applicable Student Tuition Recovery Fund assessment). 2. To cancel the student s Enrollment Agreement and take a leave of absence or withdraw, the student must complete Carnegie Mellon University s Leave of Absence or Withdrawal form, as applicable, and return it to Carnegie Mellon University s Registrar s Office, at 5000 Forbes Ave., Warner Hall A12, Pittsburgh, PA The Leave of Absence and Withdrawal forms, and additional information of leaves of absence and withdrawal, can be found on Carnegie Mellon University s website, at 3. If the student notifies Carnegie Mellon University of the student s intent to withdraw or take a leave of absence, the student s official date of withdrawal or leave of absence is the earliest of: the date the student began the student s withdrawal or leave of absence process at Carnegie Mellon University; The date the student notified the student s home department at Carnegie Mellon University; The date the student notified the associate dean of the student s College at Carnegie Mellon University; or The date the student notified the Carnegie Mellon University Dean of Student Affairs. If the student does not notify Carnegie Mellon University of the student s intent to withdraw or take a leave of absence, the student s official date of withdrawal or leave of absence is: The midpoint of the relevant semester in which the student withdraws or takes a leave of absence; The last date the student attended an academically-related activity such as an exam, tutorial or study group, or the last day the student turned in a class assignment. REFUND POLICY 1. Refunds in General. Students who withdraw from the Program or take a leave of absence after having paid the current semester s tuition and fees or receiving financial aid are subject to the following refund and repayment policies. No other charges are refundable. Student Tuition Recovery Fund assessment, if any, is non-refundable. 2. Exit Counseling. All borrowers of Federal student loans must complete a Federally-mandated exit counseling session when graduating or dropping to less than half-time enrollment status, including by withdrawing or taking a leave of absence. Exit counseling prepares students for repayment. Students must complete an exit counseling session in its entirety, with complete and correct information; otherwise, the student s degree, diploma and official transcripts may be withheld. Information about exit counseling sessions can be found on Carnegie Mellon University s website, at 3. Withdrawals/Leaves On or Before 10 th Class Day. Students who withdraw or take a leave of absence on or before the 10th class day of the relevant semester may receive a refund of 100% of tuition and fees (excluding any Application Fee or Registration Fee and Enrollment Deposit). STRF assessment, in any, is non-refundable. 4. Withdrawals/Leaves after 10 th Class Day. Students who withdraw or take a leave of absence after the 10 th class day of the relevant semester but before completing 60% of the semester will be assessed tuition based on the number 4

5 of days completed within the semester. This includes calendar days, class and non-class days, from the first day of classes to the last day of final exams. Breaks which last five days or longer, including the preceding and subsequent weekends, are not counted. Thanksgiving and Spring Break are not counted. There is no tuition adjustment after 60% of the semester is completed. There is no refund of fees after the 10 th class day of the relevant semester. 5. Tuition Adjustment Appeals. Students may appeal to have tuition adjustments for their leave of absence or withdrawal if they feel that they have extenuating circumstances. These appeals will be reviewed in the context of Carnegie Mellon University's tuition adjustment policy, as stated above. These appeals must be made in writing to Carnegie Mellon University s Registrar using Carnegie Mellon University s Tuition Appeal Adjustment form. Information about Carnegie Mellon University s tuition adjustment policy, and tuition adjustment appeals, can be found on Carnegie Mellon University s website, at 6. Repayment to Lenders/Third Parties. If any portion of refundable tuition and/or fees was paid from the proceeds of a loan or third party, the refund may be sent to the lender, third party or, if appropriate, to the Federal or state agency that guaranteed or reinsured the loan, as required by law and/or Carnegie Mellon University policy. Any amount of the refund in excess of the unpaid balance of the loan shall be first used to repay any student financial aid programs from which the student received benefits, in proportion to the amount of the benefits received, and any remaining amount shall be paid to the student Responsibility for Loan. If the student obtains a loan to pay for an educational program, the student will have the responsibility to repay the full amount of the loan plus interest, less the amount of any refund. If the student has received Federal student financial aid funds, the student is entitled to a refund of moneys not paid from Federal student financial aid program funds. If the student is eligible for a loan guaranteed by the Federal or state government and the student defaults on the loan, both of the following may occur: 1) The Federal or state government or a loan guarantee agency may take action against the student, including applying any income tax refund to which the person is entitled to reduce the balance owed on the loan. 2) The student may not be eligible for any other Federal student financial aid at another institution or other government assistance until the loan is repaid. CAPSTONE CHARGES Tuition is charged by entering cohort and remains constant throughout the length of the students program. Cohort Entering 2015 Tuition for Capstone (12 units) Amount for 12- Notes unit (4-credit)CA Capstone for Full-time Students Entering 2015 for the CA Period of Attendance $15,000 Tuition is prorated upon withdrawal/leave of absence as per above refund policy. 5

6 Capstone Fee $1,000 Capstone fee is prorated upon withdrawal/leave of absence as per above refund policy. Admission Deposit $0 Non-refundable; applied as a credit towards tuition when student first enrolls Technology Fee $0 Non refundable Activity Fee $0 Non refundable Transportation $0 Non refundable Fee Books & Supplies (estimated) $600 These charges are estimated and are not charged to the student s account. CA Student Tuition Recovery Fund (STRF) Total Estimated Charges $16,600 $0 Non-Refundable ($.00 for every $1,000 rounded to the nearest $1,000) Cohort Entering 2014 Tuition for Capstone (12 units) Amount for 12- Notes unit (4-credit)CA Capstone for Full-time Students Entering 2014 for the CA Period of Attendance $14,575 Tuition is prorated upon withdrawal/leave of absence as per above refund policy. Capstone Fee $1,000 Capstone fee is prorated upon withdrawal/leave of absence as per above refund policy. Admission Deposit Non-refundable; applied as a credit towards tuition when student first enrolls Technology Fee $0 Non refundable Activity Fee $0 Non refundable Transportation $0 Non refundable Fee Books & Supplies (estimated) $600 These charges are estimated and are not charged to the student s account. CA Student Tuition Recovery Fund (STRF) Total Estimated Charges $16,175 $0 Non-Refundable ($.00 for every $1,000 rounded to the nearest $1,000) 6

7 *Details about health insurance eligibility, enrollment, waivers, charges, and cancelations can be found on the University Health Services, website: As a student at Carnegie Mellon University, the student is responsible and obligated to Carnegie Mellon University for the timely payment of Carnegie Mellon University tuition, fees, and other charges incurred by the student on the student s behalf while at Carnegie Mellon University (collectively, the student financial obligation ), regardless of the student s expected reliance on third-party resources such as financial aid, family gifts, employer reimbursement, government assistance or other similar resources. However, the student is not responsible or obligated for such tuition, fees, and/or other charges to the extent (and only to the extent) that Carnegie Mellon University has expressly agreed, in writing signed by an authorized representative of Carnegie Mellon University, with the relevant third-party resource that the third-party resource, rather than the student, is responsible or obligated to Carnegie Mellon University (and, in such case, the portion for which the student is not responsible or obligated will not be treated as the student s financial obligation. CAPSTONE FEE Students participating in the Silicon Valley capstone are required to pay a $1,000 capstone fee. This fee helps to fund the cost of classroom space, conference rooms and work space at CMU s Silicon Valley campus, and the out-of- pocket costs associated with organizing three social events, two in the Silicon Valley and one in Napa, which are part of the Silicon Valley capstone. These three social events offer networking opportunities for students to connect with alumni and business leaders in the region in support of the course requirements. The capstone fee is payable upon signing the enrollment agreement, to the extent it has not been previously been paid by the student. The fee is fully refundable in the event the student withdraws or takes a leave of absence on or before the 10th class day of the relevant semester of the capstone. There is no refund of the capstone fee after the 10th class day of the relevant semester of the capstone. ATTENDANCE Students are expected to attend all scheduled classes. Class attendance is mandatory unless the faculty member explicitly informs what other ways of completing the work are acceptable. If students are unable to attend the first day of a class, they are expected to contact the faculty member. Failure to contact the faculty member may result in students losing their roster spot. Faculty may enforce specific attendance requirements to assist in determining class performance and evaluation. Faculty are expected to be alert to absenteeism detrimental to a student s performance and to call such cases to the attention of the executive director of student services. ACADEMIC REVIEW AND ACADEMIC ACTIONS A first year Full-Time student with a cumulative GPA less than 5.0 (B average) at the end of the fall semester (after mini 2) or a required course GPA of less than 5.0 (B average) at the end of the fall semester (after mini 2) is placed on academic probation. A first year Part-Time student with a cumulative GPA less than 5.0 (B average), or a required course GPA of less than 5.0 (B average) at the end of the spring semester (after mini 4) will be placed on academic probation. The Masters Academic Actions Committee (MAAC), composed of Tepper School faculty members (appointed by the senior associate dean for education and head, MBA program), reviews the academic performance of all MBA students at the end of mini 2 and the end of mini 4 of a student s first year in the program. The head of the MBA program, communicates the outcome of these meetings, in writing, to students who fall in the academic probation and academic warning categories. 7

8 ACADEMIC WARNING Students who are close to but not below the required B average at the end of any mini semester, will be placed in academic warning status. The academic warning status applies to all students who have a GPA (9pt scale). Students with an academic warning status can not overload courses nor exempt any required courses. Academic Probation Below are conditions for students who are placed on academic probation: Students cannot overload units Full-Time students cannot exempt required courses Students must consult with their academic advisor to make course changes Students cannot hold GBA leadership positions Students cannot hold club president positions Students on academic probation may have the probation removed at the end of the following semester if both their cumulative GPA and required GPA is 5.0 (B average) or above. Co-curricular activities, however, may continue to be restricted until further notice from the head, MBA program. DISMISSAL FROM PROGRAM Students who do not achieve a minimum GPA at certain points in the program will be dismissed (see below). First Year Full-Time students who do not achieve a 5.0 (B average) in their required courses GPA and a 5.0 (B average) in their cumulative GPA, after mini 4 of their first year, will be dismissed from the program. First Year Part-Time students who do not achieve a 5.0 (B average) in their required courses GPA and a 5.0 (B average) in their cumulative GPA after mini 2 of their 2nd year will be dismissed from the program. Any second year Full-Time, second year Part-Time or third year Part-Time student with overall GPA that falls below 5.0 (B average) will be dismissed from the program. First year Full-Time and first year Part-Time students who fail two or more of their required courses in any mini semester or any two courses in any semester, will be subject to an academic review by the Masters Academic Actions Committee (MAAC) and may be asked to take a leave of absence or be dismissed from the program. The Masters Academic Actions Committee (MAAC), composed of Tepper School faculty members (appointed by the senior associate dean for education and the head, MBA program) reviews student progress and makes recommendations based on the school s academic policies. Prior to the effective date of any dismissal under this Section 5.6, the Masters Academic Actions Committee (MAAC) will review the grounds for dismissal as well as any other information the affected student wishes to provide in writing. MAAC's decision will be forwarded to the Tepper School Dean for final approval. Students who wish to appeal the dismissal at that time may contact the Tepper School Dean s Office. REQUIRED SUSPENSION FROM PROGRAM University suspension is a forced, temporary leave from the university. There are three types of suspension for students that apply to both graduate and undergraduate students: Academic suspension is the result of poor academic performance or violation of academic regulations and is imposed by the student's college or academic department. Disciplinary suspension is the result of serious personal misconduct and is imposed by the dean of student affairs. Administrative suspension is the result of failure to meet university financial obligations or failure to comply with 8

9 federal, state or local health regulations and is imposed by Enrollment Services. (See Student Accounts Receivable Collection Policy and Procedures for financial obligations. Contact Student Health Services for information about health regulations). This University policy is available online: WITHDRAWAL OF A DEGREE The university reserves the right to withdraw an already-conferred degree, should it discover that either the work upon which the degree was based or the academic records in support of it were falsified. CAREER OPPORTUNITIES CENTER The Tepper School s Career Opportunities Center (COC) offers an array of career services to help students in the planning, search and acceptance phases of their career. We are not a job placement office or an executive search firm. However, we work with students to understand their career goals, and then partner with students as a coach, strategic advisor and accountability partner throughout the student s career search. The COC s mission is simple. We strive to: Deliver services designed to help students and alumni develop a career focus compatible with their own interests, values and skills. Develop programs designed to help students and alumni develop a personal marketing plan. Provide an on- and off-campus interview process to facilitate the efforts of currently enrolled students to secure meaningful employment, and for employers to secure the talent they need. Provide opportunities for employers to communicate information about open positions to students and alumni. FINANCIAL AID Meeting the cost of a graduate education is a significant investment. Carnegie Mellon University is committed to making it financially possible for graduate students to enhance educational development and reach their career goals. There are many financial aid resources available to student pursuing graduate studies at Carnegie Mellon University. The Tepper School of Business, Carnegie Mellon University participates in the federal financial aid programs. Information about these financial aid programs can be found on Carnegie Mellon University s website, at If you obtain a loan to pay for the Tepper School of Business MBA program, you will have the responsibility to repay the full amount of the loan plus interest, less the amount of any refund. If you have received federal student financial aid funds, you are entitled to a refund of the moneys not paid from federal student aid program funds. REQUIRED CONSUMER INFORMATION Required disclosures and consumer information may be found on our website: NOTICE CONCERNING TRANSERABILITY OF CREDITS AND CREDENTIALS EARNED AT OUR INSTITUTION 9

10 The transferability of credits you earn at Carnegie Mellon University, Tepper School of Business is at the complete discretion of an institution to which you may seek to transfer. Acceptance of the Masters of Business Administration (MBA) degree you earn at the Tepper School of Business, Carnegie Mellon University is also at the complete discretion of the institution to which you may seek to transfer. If the Master of Business Administration (MBA) that you earn at this institution is not accepted at the institution to which you seek to transfer, you may be required to repeat some or all of your coursework at that institution. For this reason you should make certain that your attendance at this institution will meet your educational goals. This may include contacting an institution to which you may seek to transfer after attending Carnegie Mellon University, Tepper School of Business to determine if your degree will transfer. STUDENT QUESTIONS Any questions a student may have regarding this catalog that have not been satisfactorily answered by the institution may be directed to the Bureau for Private Postsecondary Education at Mailing Address: Bureau for Private Postsecondary Education 2535 Capitol Oaks Drive Suite 400 Sacramento, CA Toll Free Phone: (888) Main Fax: (916) COMPLAINTS A student or any member of the public may file a complaint about this institution with the Bureau for Private Postsecondary Education by calling (888) toll free or by completing a complaint form, which can be obtained on the bureau s Internet Web site, ADDITIONAL INFORMATION Carnegie Mellon University specifies that: we do not have a pending petition in bankruptcy; we are not operating as a debtor in possession and; we have not filed a petition within the preceding five years and have not had a petition in bankruptcy filed against us within the preceding five years that has resulted in reorganization under Chapter 11 of the United States Bankruptcy Code (11 U.S.C Sec et seq.). 10

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