Students looking to attend a professional MBA university can benefit from financial aid. Here are a few tips to help students find good opportunities for aid.
Completing an MBA education is a great way to improve your career and salary prospects, and is likely to pay off considerably over the long term. In the short term, however, some students may find themselves wondering how best to accommodate the cost of a top-tier MBA school in their personal budgets.
Often, students will use a combination of grants, scholarships, sponsorships, and other financial sources to defray the costs of attending MBA school. By spending a little bit of time planning ahead, you can likely lighten the financial load of attending your MBA program considerably.
Curious about how you can go about funding your MBA education? Here are a few financial aid tips worth considering.
An important first step to take when planning finances for MBA school is to first review your personal finances. This includes taking stock of personal assets, debts, credit, and income as well as unique financing opportunities that you can benefit from. This can include things like your workplace sponsoring some of your tuition fee, family members offering you a monetary gift or loan, and more. This sort of review can give you an idea of how much of your personal financial resources you can commit to the MBA if necessary, and how much assistance you might want to seek out from loans.
While doing this planning, don't forget that the convenient scheduling at WU Executive Academy's MBA school means you will be able to continue working throughout your studies. You can enjoy the benefits of top-tier MBA courses and the ongoing financial security of your career, all at once. For many students, this can make attending MBA school considerably easier.
Good universities offer a variety of financial assistance and support programs to their students, and these can be excellent resources for helping you finance your MBA education.
For example, WU Executive Academy offers many scholarships, including a €25,000 scholarship open to Executive MBA students at our Bucharest school, a scholarship of up to 25% of tuition for entrepreneurs enrolling in several Professional MBA programs, and many more. You can find a list of available scholarships here, all of which can be great assistance for paying your MBA tuition.
In addition to scholarships, you can choose to pay in installments, which makes the up-front cost of enrollment more manageable. Our programs are also tax deductible for Austrian taxpayers, with refunds of up to 48% of tuition costs available to eligible students.
With so many opportunities for financial assistance available at our school, the odds are good that at least one opportunity will be right for you. Take a look at your options prior to enrollment to ensure you get the best benefits possible.
Though it's advisable to plan out your finances before enrolling in MBA school, it's best to not delay overlong before committing to your program.
Enrolling early enough before your program's start date can make you eligible for an "early bird discount" on your tuition fee, with the specific amount varying by program. If you enroll in the Finance or Marketing & Sales professional MBA program, for example, you can get a 3% reduction on your tuition fees, while enrolling in the Executive MBA program at the Bucharest school will make you eligible for a 5% discount.
The early bird discount cannot be combined with other discounts or scholarships offered by the school, making it a better option for students who are primarily getting their funding from another source. Still, it's an excellent option to have, and is something to consider when creating your financial plan for MBA school.