Tuition fees for MBA are so high sometimies that I get suprised how it is possible to cover all these expenses. How do you fund it, through financial aids/scholarships? What if you get enrolled in the programm itself but fail finding financial aid?
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How do you fund your MBA study?
Source: Beat The GMAT — Research MBA Programs |
It basically comes down to whether you want to take the debt. You can look for scholarships, but you have to be prepared for not getting any and decide if it would still be worth it. If you can only go if you get scholarships then attempt to make sure your stats are in line with those that get scholarships.
https://www.beatthegmat.com/the-retake-o ... 51414.html
Brandon Dorsey
GMAT Instructor
Veritas Prep
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Brandon Dorsey
GMAT Instructor
Veritas Prep
Buy any Veritas Prep book(s) and receive access to 5 Practice Cats for free! Learn More.
I am not sure about your particular situation from the post. But since you are asking, you are apparently not paying for it from your savings. In this case, as was mentioned before, try to maximize your shcolarship/fellowship options from the school. Often times it is merit-based, i.e. undergrad GPA/GMAT combination, extracurricular extraoridinary achievements, sometimes need-based. Find out with your target schools financial aid offices in advance.Delayed_flight wrote:Tuition fees for MBA are so high sometimies that I get suprised how it is possible to cover all these expenses. How do you fund it, through financial aids/scholarships? What if you get enrolled in the programm itself but fail finding financial aid?
In my case I would most likely get admitted with my original score under 600 on GMAT to the school I am in now. But I took second test, got over 600 and got rewarded a scholarship worth 6 credit hours for the first year. Given that I am going part-time and take only 15 credits in the first year, it paid 40% of my tution. Of course every program different, some other schools probably require 800 GMAT for a scholarship
That's why you need to find out specifics. Admittedly I did not even know about the shcolarship option at the time I decided to re-take my GMAT, but it proved beneficial later. If interested, here is my post on rationale behind re-take: https://parttimembadegree.com/2010/02/14/gmat-test-2/Once you used all your scholarship options - loans are next step. First Stafford, then Grad Plus.
Also, since the cost of attendance is high indeed, many applicants who cannot afford to forgo their salary opt for a part-time option. With that you would hopefully be able to borrow less, since your current income presumably covers your living expenses.
