Tuesday, August 2, 2011

How do people pay for business schools (MBA)?

Question: Business schools, specifically MBA's are expensive. Harvard for example costs somewhere around 85k per year. How do people afford it? 


Answer:


Student loans (federal and private). A majority of people take out student loans in order to go back to school.  


Scholarships and fellowships. Very competitive, but a great source of funding.


Employer sponsorships: An amazing employer decides to pay for that expensive MBA.  **AMAZING** Like you can imagine, this has gotten less common thanks to the recession.


MBA's are EXPENSIVE!! At the end of the day, my advise to you is: do your research! You could do an MSc in Finance, Accountancy, or something of that nature that may be a better field as opposed to an MBA.



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