Four Tips for Financing Your MBA

You’ve applied and been accepted to your MBA program. Now you just have to figure out how to pay for it.

Here are four tips for financing your degree from the Neeley School of Business aimed at minimizing the amount of debt you assume when pursuing your MBA.

Do not let finances stand in the way of your career goals. Your MBA is an investment. It is a huge commitment of time and resources, but getting your MBA will advance your career and significantly increase your salary potential. The proximity to Dallas-Fort Worth provides TCU MBAs access to jobs and internships at more than 10,000 local, regional and global corporations right here in our backyard. Students have greater opportunity to collect a paycheck sooner than if they were going to school in another part of the country.

Apply for scholarships. Scholarships are generally dependent upon a student’s credentials presented with his or her application. Prior performance, relevant test scores, professional experience, motivation, maturity and leadership ability are all factors we consider when determining which students should receive one of our numerous scholarships. For more information on merit-based scholarships available through the Neeley School of Business, click here.

Apply for loans and grants. There are several loans and grants available to students who demonstrate financial need. Many of these are subsidized by the federal government and are available to U.S. citizens or permanent residents. To apply for a federal loan or grant you must complete the FAFSA form (Free Application for Federal Student Aid), which is usually available in December here. International students may be able to receive financial loans through private lenders.

Working during your full-time MBA program—good idea or bad? Keep in mind that the reason you chose to enroll in a full-time MBA program was to immerse yourself in the learning experience, much of which occurs outside of the classroom and requires you to be available to work with team members. That said, if you can avoid the trap of trying to work too many hours, there may be opportunities to earn while you learn. TCU MBA students can apply to work as research assistants for faculty during their second year, typically 10 to 15 hours per week. Other students may continue to work on projects from their summer intern companies during their second year. Others earn stipends as principals for the Neeley & Associates Consulting program. The best advice is usually to begin an MBA program without outside work commitments and add those responsibilities in only as your schedule permits.

Beginning a full-time MBA program means leaving the security of a paycheck and committing to the financial responsibilities of school for two years. While this may initially seem overwhelming, TCU aims to help students achieve their educational and career goals through a combination of scholarship and financial aid packages and competitive tuition rates.

For more information on tuition and financial aid for TCU’s MBA program, click hereRequest more info about the Neeley School of Business graduate program or apply now.
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