How can I pay for an MBA?


RevLord

Hello,

I'm currently doing bachelors in business administration. As we know, MBA programs are very expensive (90-100k$ here in Canada). I've been feeling a bit tensed for the past few days. I'm wondering how am I gonna afford the MBA programs. Can y'all give me some tips? Does the bank even give students loans that reaches over 100k$?

I'll be waiting for a reply.

Hello,

I'm currently doing bachelors in business administration. As we know, MBA programs are very expensive (90-100k$ here in Canada). I've been feeling a bit tensed for the past few days. I'm wondering how am I gonna afford the MBA programs. Can y'all give me some tips? Does the bank even give students loans that reaches over 100k$?

I'll be waiting for a reply.
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smartcanad...

You can pay for it like everyone does - a combination of savings, public/private loans and scholarships.   Also, you are still in undergrad and shouldn't be worrying about these costs until you are ready to apply - you would already have several years of experience by then (and hopefully some savings).  

You can pay for it like everyone does - a combination of savings, public/private loans and scholarships.   Also, you are still in undergrad and shouldn't be worrying about these costs until you are ready to apply - you would already have several years of experience by then (and hopefully some savings).  
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mba hipste...

Look at it in terms of ROI: see what the initial outlay would be and then compare that to the average post-MBA salary statistics. If the ROI is positive, it's worth going out of your way to secure the funding in whatever way is legally possible.

Look at it in terms of ROI: see what the initial outlay would be and then compare that to the average post-MBA salary statistics. If the ROI is positive, it's worth going out of your way to secure the funding in whatever way is legally possible.
quote

Are Canadian business schools likely to give out much scholarship money for their MBA students? I'm looking at McGill and it's just about $100k Canadian for international students!

Are Canadian business schools likely to give out much scholarship money for their MBA students? I'm looking at McGill and it's just about $100k Canadian for international students!
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smartcanad...

Canadian international student MBA tuition fees (including those in McGill, HEC, UBC, etc) were very reasonable and not much higher than domestic tuition just a decade or so ago.  Everything changed when universities began to realize they can make international students "cash cows" to offset their funding deficits.  Canadian universities don't run on endowment and tuition fees like the US.  As public institutions, a lot of them depend very much on government funding.  You will understand the economic benefits to Canadian universities when you study price discrimination in your MBA class LOL.  

[Edited by smartcanada on Sep 13, 2020]

Canadian international student MBA tuition fees (including those in McGill, HEC, UBC, etc) were very reasonable and not much higher than domestic tuition just a decade or so ago.  Everything changed when universities began to realize they can make international students "cash cows" to offset their funding deficits.  Canadian universities don't run on endowment and tuition fees like the US.  As public institutions, a lot of them depend very much on government funding.  You will understand the economic benefits to Canadian universities when you study price discrimination in your MBA class LOL.  
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smartcanad...

The one change that benefits international students in Canada today compared to a decade ago is the availability of international student loans that do not require any Canadian co-signer.  So even if tuition is steep, you now have the ability to pay for it.  All of the top Canadian schools have either a formal or informal tie-up with different international student loan providers such as prodigy finance, etc.  A decade ago, tuition might have been cheaper, but an international student still had to pay for it + living expenses using their own or parents' savings.  


Check out this article:

https://www.theglobeandmail.com/business/careers/business-education/article-how-international-students-can-afford-a-95000-canadian-mba/

[Edited by smartcanada on Sep 13, 2020]

The one change that benefits international students in Canada today compared to a decade ago is the availability of international student loans that do not require any Canadian co-signer.&nbsp; So even if tuition is steep, you now have the ability to pay for it.&nbsp; All of the top Canadian schools have either a formal or informal tie-up with different international student loan providers such as prodigy finance, etc.&nbsp; A decade ago, tuition might have been cheaper, but an international student still had to pay for it + living expenses using their own or parents' savings.&nbsp;&nbsp;<br><br><br>Check out this article:<br><br>https://www.theglobeandmail.com/business/careers/business-education/article-how-international-students-can-afford-a-95000-canadian-mba/<br><br>
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mba hipste...

Interesting story. The 9% rate quoted on the Prodigy Loan isn't spectacular but still reasonable. 

Interesting story. The 9% rate quoted on the Prodigy Loan isn't spectacular but still reasonable.&nbsp;
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binesss

Are there better scholarship opportunities in Canada or the UK? I'm looking at LBS and the tuition is... just oof... 

Are there better scholarship opportunities in Canada or the UK? I'm looking at LBS and the tuition is... just oof...&nbsp;
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Duncan

Scholarships are a false economy. Take a look at the post about Scholarships on my profile page. 

Scholarships are a false economy. Take a look at the post about Scholarships on my profile page.&nbsp;
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