MBA Finance | 6 Unique Ways To Fund Your Degree
How will you finance your MBA? From MBA scholarships to international student loans, paying for business school doesn’t have to be so difficult
How will you fund your MBA degree? An MBA is a major investment. The most expensive MBA programs can cost over $200k all-in. The way you pay for business school can affect the options available to you in your career down the line.
But there’s good news. Business schools are working to make themselves more affordable with innovative payment methods on offer. Financing your MBA degree doesn’t have to be so difficult.
Here’s six different ways to finance your MBA:
1. Merit and need-based scholarships
There are literally hundreds of scholarships (full or partial) available across MBA programs. The war for talent has seen business schools offer large scholarships to attract the best candidates. Some business schools, like Harvard Business School, are known for having huge war chests to attract the best talent.
There are also country-specific scholarships like the Chevening Scholarship to study in the UK, and external scholarships based on specific requirements or demographics.
One Asian school particularly generous with its scholarship offering is CUHK Business School in Hong Kong.
Alongside scholarships for high-potential finance professionals, entrepreneurs, and women, CUHK offers a unique One Belt One Road Scholarship—for MBA candidates who have worked or studied in one of the countries under the Chinese infrastructure development plan—and a 50%-tuition scholarship for professionals from Southeast Asian countries like Cambodia, Thailand, and Vietnam.
UK-based Cranfield School of Management offers a full-tuition scholarship each year for outstanding applicants from both Australia and New Zealand.
The school also offers a unique scholarship, of up to $51,000, to give British farmers, or someone closely associated with farming, the opportunity to study the Cranfield MBA, and a fintech fellowship worth over $10,000.