How to pay for business school
It’s no secret that an MBA is a huge investment of time and money. While earning an MBA significantly increases your value in the workforce, contemplating the cost of business school tuition can be daunting – not to mention the price of books, and you might also have to pay for housing, relocation expenses and a myriad of additional fees for school and extracurricular activities. Factor in whether you plan to go to school full-time or part-time, and if it will be feasible to work part-time or hold down a job. The financial considerations require planning. Fortunately, there are many options for financing your business school tuition.
If you qualify, business school scholarships are ideal for those seeking business school financial aid because they do not need to be paid back and they are available from a variety of sources – professional associations; non-profit organizations; corporate and private businesses; alumni groups; and government agencies at all levels. Of course you will have to work hard to earn scholarships and you may need to meet specific deadlines and qualifications to be eligible, so before applying for any business school scholarships, be sure to do your research and read the fine print. Loyola University Maryland' Sellinger School of Business offers scholarships for graduate students. Our graduate business and MBA tuition page details program costs and links to more information about scholarship opportunities.
Grants are another viable option when seeking business school financial aid, as they do not need to be repaid if you follow through on your educational commitment. As explained on AboutEducation.com, the two main types of grants are those awarded by the government and those awarded by business schools. Grants are usually given to the most financially needy students. However, some are awarded based on academic merit, and should not be overlooked. Learn more about the business school financial aid packages and grant opportunities available at the Sellinger School of Business.
Consider also business school programs that won’t break the bank. Many schools offer part-time flexibility for working professionals and those looking to pursue an MBA at their own pace. The Sellinger School delivers a high quality education with streamlined programs for students and professionals from a variety of academic and industry backgrounds. Visit the Sellinger business school admissions page to learn more about MBA and graduate business options.
Want to learn more? Check out our webinar on paying for graduate school.