Pay Money For Your MBA With These 4 Ways

Attending an MBA course at the Harvard Business School costs $68,000 for one year. 

It is a course of two years, and any well-known business school in Europe costs $71,000 for it, which is a lot of money. Almost every student comes out of Harvard Business School with a debt of $86,000. They do get paid well, around $150,000, but that’s a lot of debt.

It is very difficult for every working professional who aspires to do MBA to save money. There are many other expenses as well. This is where you need to get creative.

And we have curated ways for you with which you can pay the debt without jeopardizing your future savings.

Ways to Pay Money for your MBA

Here are four ways you can pay money for your MBA:

1. Business school fellowships

Many business schools offer generous fellowships. All this money is grant money that means you don’t need to pay it back. Harvard Business school offers fellowships of around 50 percent of the college fees.

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2. Employer scholarships

Many companies offer employer scholarships. They notice your potential and send you to business schools to study. 

There is no work component in it. However, this happens in terms of a contract. After graduating, you have to continue working with the company for a few years.

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3. Graduate Assistantship

Once you are enrolled in a business school, you can become an assistant to any faculty. The college will pay you for that, and you will get a hands-on experience of what it is like. 

You can also become an administrator, a research assistant, or a junior researcher.

Image by mohamed Hassan from Pixabay/Copyright 2021

4. Federal student loan

Two loans open for postgraduate students are Stafford Loan and Grad PLUS Loan. 

The Stafford Loan has a limit of $20,500 a year. It is available at an interest rate of six percent p.a. 

The Grad PLUS Loan covers all costs of attendance. It is available at an interest rate of seven percent p.a.

These are the four ways by which you can pay money for your MBA. Get creative to invest your earnings in the right place and not in the interest of a debt you took to study.

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