subject: How to Obtain Financial Support for MBA Programs [print this page] How to Obtain Financial Support for MBA Programs
Full time MBA programs are quite costly. You will need a sum of $32,000 or more for one year program duration. These programs can also take much of your time; thus, messing up your schedule. Obviously, you will not be able to pay for your MBA fees if you quit your job and you may not be able to concentrate thoroughly on your MBA courses if your working hours are in conflict with your study hours. So, what can you do with this kind of situation? How can you earn your MBA degree without having financial problems?
Well, worry no more because you can still earn an MBA degree even if you do not have much money. Fortunately, several forms of financial aids, scholarships, or grants can be availed through different measures. Financial aid programs, for instance, are available to those who want to apply for graduate school scholarships. You can find out about these programs in your university's financial aid office. You can also seek for information online as well as on the yellow pages. Then, there are also government programs that can help you financially. In order to have a chance to qualify for student assistance, you have to file your application at FAFSA or Free Application for Federal Student Aid. Individual scholarships groups are another good option. Several associations such as the NSPA or National Scholarship Providers Association provide funds for qualified students. Business schools, universities, colleges, and other educational institutions also provide scholarships to students who have obtained excellent GMAT scores. You can actually apply to as many schools you want so that you can improve your chances of acquiring an MBA scholarship.
Banks and private agencies can help you, as well. They can offer you loans and grants. Some of these loans, however, have to be repaid. On the other hand, you may also receive financial assistance or scholarship from the company you work for. Your employer may pay for part or all of your MBA education. Huge companies usually give their employees funding to help them earn their MBA degrees. Nonetheless, when applying for financial support, you must remember to submit all required documents. You must also attend all interviews and maintain a positive outlook.
