Dear xxxxxx, The Ph.D. Committee of the Department of Finance met recently to evaluate applicants for admission to our Doctoral Program beginning Fall 2008.
We received applications from many highly qualified individuals. However, financial and other constraints have resulted in our accepting only a small number of applicants. While your qualifications are excellent, we are not able to admit you to our program. I hope that with your fine record you will obtain admission to another university.
I am sorry that I do not have better news for you. I wish you the best in the future.
Sincerely,
Neil D. Pearson Professor of Finance and Director of PhD Program
NDP/egb
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