Many individuals shelve their plans of pursuing an MBA because it is a costly preposition. A wise saying goes “If you think education is costly, try ignorance”. If you get into a good business schools and use your MBA well, you can break-even in a very short span and keep getting dividends for rest of your life. Apart from growth in career, one gets to be a more competitive professional and a better individual after immense learning in a prestigious business school.
Yes, funding the MBA is a challenge. However, remember that in each challenge, lies and opportunity. There is always a way out. We tell you three…
It is a myth that scholarships are not possible in MBA programs. Our founder has done his MBA on 100% scholarship and many individuals every year get such offers. Get a very high GMAT score, write effective applications, and crack your interview. Every year, more than 20 of our students join the US top 50 schools on 100% Scholarships.
Most of the US top 20 schools have tie-ups with banks and they help you in getting education loans without any collateral or US co-signer. These loans are on very low interest rates and need to be repaid after completion of the course.
Target Economical Schools
There are several schools in North America, Europe, Asia, and other parts of the world where ROI is really good. One can earn MBA from quality schools in less than U$D 40,000 from such institutions.
Apart from the aforementioned options, also consider…
Government banks in all countries give loans for global education; such loans may not be sufficient to fund the entire education but can take care of a significant part of the expense. For example, most government banks in India give collateral free loans of up to INR 750,000 and with collateral, loans up t0 INR 25,00,000. Certain private institutions such Credila gives loans for much higher amounts on collateral.
Earn while you Learn
- Internships: One earns a decent amount during internships; in prestigious American business schools, a stipend of around $5,000 per month is quite common during internships.
- On Campus Jobs: One can take several campus jobs, TA, or RA to earn living expenses.
- Work Part-time During Second Year: Many individuals work part-time during the second year with the organization they intern with.