I was very lucky that my parents paid for my undergraduate education. But now, I'm on my own. How do most people finance their MBA (aside from company sponsorship)? What is the process of getting a loan like?

I think a lot of people save up funds beforehand in order to finance their MBAs. That doesn't usually cover everything though.

Fortunately, many people are able to get need- and merit-based scholarships through their school's financial aid departments. If your school is good, and you have exceptional qualities, you might be able to take advantage of this.

Funding varies by school, but Stanford, for example, generally awards about a quarter of students' total financial need. The other 75% come from loans. Loans have traditionally been a student's last resort, but with the incredible inflation in the cost of MBA programs, they're practically unavoidable now.

I've learned from reading the message boards that it's especially hard for international students to get loans now, so if that's your case, it's an uphill battle.

Your user name: did you get into Kenan-Flagler? If so, congratulations - they've got a good financial aid department.

Maybe some current students or soon-to-be-students can give some more insight on this.