MBA, Full Time (1 year)
Program Detail
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Program Name |
MBA, Full Time |
Program Overview |
|
Areas of Study |
|
Joint Degree Offered |
No
|
Delivery Format |
Classroom
|
GMAT Score |
GMAT Accepting
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Tuition & Fees |
Total Program: GBP 16,000
|
Financial Aid Availability |
No
|
Start Dates &
Application Deadlines |
Start Date |
Application Date |
9/15/2014 |
9/5/2014
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Tips for Financing an MBA
Studying an MBA or master can be very cost-intensive
- especially if you want to complete the training in the
USA, for example. In Europe, the tuition fees are not
quite as high, but if you want to graduate from a
renowned school, you also have to factor in a few tens
of thousands of euros. Many students of MBA and master's
degree programs are therefore wondering how best to cope
with student funding. We will introduce you to a few
possible variants below.
Check with your employer
It pays off to ask the employer about financing an
MBA or Master’s degree and to be helped by him. For
example, a survey by the Staufenbiel Institute showed
that over 90 percent of survey participants studying in
Germany receive financial support from their
employer. This statement came primarily from employees
who study the MBA or Master part-time and can thus
immediately apply their acquired knowledge in
practice. It has also been shown that management
consultants are particularly fond of promoting their
employees. In many cases, however, the financial aid is
linked to the obligation to repay the grant or a
contractual commitment to the company.
Family support
If you want to avoid dependency on a loan or do not
see great opportunities for receiving a scholarship, you
can ask, for example, in your own family. Often the
parents and / or grandparents are ready to support the
offspring in the pursuit of an expanded education. The
fact that asking in the family pays off was demonstrated
in the Staufenbiel survey - after all, over 50 percent
of students in Germany stated that they could finance
their studies in this way.
Application for a scholarship or for state
support
If the employer does not promise financial support
and the family's wallet is not too full, it is advisable
to apply for a scholarship or to apply for state
support. More than 50 percent of MBA and master
graduates studying in Germany also opt for such a
financing option. The majority of German business
schools have an “Office for Financial Aid” and inform
prospective students there about the various funding
options. Even if in many cases these funds are only made
available to local students, it is definitely worth
asking in these offices.
Finance your MBA or master’s degree with a
loan
If the aforementioned types of financing cannot be
implemented, a loan may enable the desired MBA or
master's degree. With the introduction of tuition fees,
a wide range of student and educational loans was
created in Germany, the repayment of which is generally
not necessary until after starting your career. Prodigy
MBA Finance may be of interest to international
students . It was founded in 2007 by three MBA alumni
and specializes in the granting of loans to students.
Education fund as an alternative
The so-called education funds represent a hitherto
not so well-known form of financing. You can complete
your MBA or master's degree with no worries, because
your tuition and living expenses are covered by various
investors with this financing option. In contrast to
taking out a loan, there are no fixed repayments and
interest payments after graduation - the amount of the
individual repayments is based on the later individual
income of the graduates. If you do not have a high
salary, you will pay little money back - if the annual
income is less than 30,000 euros, then nothing has to be
paid back. Vice versa, however, higher repayments are
due for a larger income. If you want to take your MBA or
Master abroad, Point out brain capital. It is a student
initiative that awards education funds to international
students.
Last but not least: use your own savings
Of course it is difficult to start with the emergency
cent, which may have been hard saved for years. And yet
most of the MBA and Master's students choose to choose
this type of financing - usually in addition to another
variant. The comforting thing, however, is that this
investment pays off in your personal future. After all,
graduates with a successful degree in most cases expect
attractive career prospects.

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