Funding Your American MBA


Here are the views of Mr. Mayank Srivastava, the founder of Experts' Global, on funding your American MBA

The following article has been inspired by the thoughts of Mr. Mayank Srivastava. He is the Founder of Experts' Global, one of the world's leading EdTech firms in the field of GMAT prep and MBA admission consulting

Funding Your American MBA


Earning an American MBA has been the dream of countless aspiring management professional, across the world, for several decades now. These MBA programs have rich legacies, some stretching back more than a century. They provide their students with a truly unparalleled combination of academic rigor,team projectsdesigned to build collaborative skills, live simulations, experiential learning, interactive case studies, multicultural exposure, livelycampus life, healthyglobal network, markedly deepintellectual capital, world famousbrand value, knowledgeablefaculty, experiencedcareer services, diverseextra-curricular activities, spectacularnetworking opportunities, and access to a spectrum of potential recruiters.The experience that an American MBA course provides more than lives up to its reputation. Of course, another aspect of the American MBA reputation that these programs live up to is their heavy cost. The exuberant costs of American MBA programs discourage many international students from even considering American MBAs as an option. This isa particularly unfortunate state of affairs, as these students do not even fully explore their options before giving up on their ambitions. Here is some information on the way that international students may be able to fund their American MBAs.

MBA Funding

Scholarship Options for Studying MBA Abroad


There are many strong scholarship options for American MBAs, some that will covera full 100% of yourtuition requirements. There are many students who, coming from humble backgrounds, would not have been able to even consider American MBAs if not for these scholarships. Most MBA scholarships are merit-based and share the same criteria as the admissions process. Work experience, academic record including the GMAT score, and co-curricular activities are the factors that will decide both the possibility of securing and the extent of your scholarship. You must bear in mind, however, that not all American business schools are scholarship friendly. You must conduct careful research, into the availability of scholarships, while you are short-listing schools. It willalso be helpful if you speak to the current students and recent alumni from the prospective schools about the competitiveness of profile and GMAT score of students who win scholarships.You will have to be thorough in your research and carefully consider the profiles of the schools you plan to apply to. Here are some of the most prominent, scholarshipfriendly schools-Carey, Boston University, Owen, Jones, Smeal, Kelley, Fisher, Smith, Broad, UIUC, Irvine, Krannert, Foster, Goizueta, Olin, and Tippie.

Availability of Collateral Free Loans


Most of the US Top 20 business schools have tie-ups with certainAmericanfinancial institutionsthat agree to give their students collateral free loans. These institutions are also willing to waive any requirements for the students to have a cosigner, as well. These loans come at a very reasonable rate (5%) and will cover both your tuition and your living expenses. If you plan to work in America for a few years, after graduation, these loans are a very good option. Let us assume that the total your total expenditure will be 100,000$. The average annual salary of graduates from the US Top 20 business schools is 130,000$ per year. This means that you will be able to pay off the loan in just a few years. Of course, very few schools have this option and all of them are extremely competitive. This is only to be expected; as the financial institutions offer this option, under the assumption that the graduates will secure high paying employment and promptly repay them. This is why you must closely research the availability of such loans and your chances of admission to thesepremierschools. A fewof theAmerican business schools with the option of collateral free loans include-Harvard, Wharton, Booth, Stanford, Sloan, Haas, Tuck Stern, Duke, Yale, and Cornell.

A US-Based Cosigner


American citizens and Green Card holders, who have a healthy credit history, can act as cosigners for an international student's student loans. Cosigner loans are quite convenient and cheap (5%). If you have a relative, or someone else who can vouch for you, this is a great option for you.

Affordable Programs


Most American MBA programs are indeed quite expensive, but there are exceptions to the rule. In these cases, it would be wise for you to remember that a program being economical does not mean that itis low ranked. The cost of a program depends on numerous factors, not just its quality. Many prestigious programs are, in fact, quite affordable and some less prestigious programs are much more expensive. With a little bit of careful research, you should be able to find a program that is affordable and highly ranked. To this end;use the US News Rankings for obtaining a comprehensive idea of the fee structure, employability, average starting salaries etc.

Earn While Studying


Most MBA students earn quite well, while pursuing their degree. This is, in part, due to the fact that the American University ecosystem and their program structures give students a lot of space to work. International students are allowed to work for a maximum of 20 hours a week. Thereare a number of Graduate Assistantship, Teaching Assistantship, and Campus jobs that students can apply for. Most MBA programs also involve an internship period, during which students can earn up to 18,000$. Most MBA students, actually, earn their living expenses and only arrange their tuition fees, beforehand.

The major takeaway hereis that funding an American MBA is very much possible. Plenty of international students have managed to do so. You need to focus on the factors that are most in your control –your GMAT score, your profile and,your applications. Do not spend too much time worrying about money, you will find a way.


Article by Tony John
Tony John is a professional blogger from India, who started his first Weblog in 1998 at Tripod.com. Tony switched to blogging as a passion blended business in the year 2000 and currently operates several popular web properties including IndiaStudyChannel.com, Techulator.com, dotnetspider.com and many more.

Follow Tony John or read 38 articles authored by Tony John

Related Articles

How to apply online for 2015 UK Commonwealth Professional Fellowships

Want to study abroad in UK through the Commonwealth Professional Fellowships? These fellowships are applicable for the citizens from developing Commonwealth countries and are offered by the Commonwealth Scholarship Commission (CSC), United Kingdom (UK). This article provides complete information on the fellowship amount and other aspects, including how to submit your application through the Electronic Application System (EAS).

How to get financial aid to study abroad

Gearing up for pursuing higher studies abroad? Wondering how to get financial aid for your studies in a foreign country? Looking for information on education / student loans for studying abroad? This article provides all the requisite information for students in India who are desirous of availing financial help for pursuing studies abroad.

How to get admission in foreign universities

Many of us dream of studying abroad in reputed universities which can help us excel in our career path and a glorious future. This article gives you what to look out when you choose university and other useful informations

Tips Choose Postgraduate Study Abroad

Selecting post-graduate studies abroad is not easy, especially if you have never had previous experience, or do not get enough information from people who have experienced it directly. For that needed thorough preparation

MBA - most coveted career in management

Here is detailed descriptions about the MBA admissions and various programs related this course. Here you will get detailed information about the specializations, difference and also how MBA career will affect your life.

More articles: MBA Study Abroad Scholarships

Comments

Author: Sitakalyani30 Nov 2018 Member Level: Gold   Points : 1

From the words of Tony sir, American MBA is a standard one. I have a doubt that there are also business schools in India. Education in such schools gives opportunities but they are limited to our country. To get opportunities in abroad, one must go out to study in top business schools overall the world. Author of this thread pave the way to aspirant students to study MBA

Author: Umesh03 Dec 2018 Member Level: Diamond   Points : 2

A well researched and elaborate article on how to pursue an MBA from the US. It will definitely help the aspirants in this stream.

One can do MBA even from a reputed institute in our country and acquire the same knowledge and skills as one achieves in the US MBA but the main difference lies in the reputation and standing of the US degree in the world market.

By doing an MBA from the US has many advantages in terms of securing a high-end job in multinational companies. Today we are living in an age of networking and a student who completes his education from such top world class institutions have much more exposure to the commercial world than the domestic MBA degree holders.



  • Do not include your name, "with regards" etc in the comment. Write detailed comment, relevant to the topic.
  • No HTML formatting and links to other web sites are allowed.
  • This is a strictly moderated site. Absolutely no spam allowed.
  • Name:
    Email: