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Financial Aid for MBA Programs

There are many options to help you finance your MBA degree. A few financial aid options may include:

  • MBA Grants
  • MBA Loans
  • MBA Scholarships
  • MBA Work-Study Programs
  • MBA Tax Credits
  • MBA State Aid

MBA Grants

There are quite a few school-based grants and fellowships available for MBA students. Different schools have a variant of the amount of free money available. It’s important to be in contact with your potential schools so you know the kind of funding available that you may be eligible for. It’s also good to apply to schools early, as most grant money is provided on a first-come, first-serve basis.

Grants are also available through private organizations and the government. An example of a grant option is the AAUW Career Development Grants. The American Association of University Women awards grants annually to women who have made the decision to pursue an advanced degree for the first time in order to move their careers to the next level.

MBA Loans

There are a variety of loan options available:

  • Stafford Loans: This is the main loan program from the United States government. MBA students can currently borrow up to $18,500 a year. To learn more about subsidized or unsubsidized stafford loans, check out the government student loan website.
  • Perkins Loans: The Federal Perkins Loan Program is another option from the U.S. government. Perkins Loans are only for students with exceptional financial need. They come at the very low interest rate of 5 percent and carry no fees.

There are also school based and private loan options. School based loans are dependant upon the university you attend. Private loans come from banks and other private organizations. Contact your school for more information on both of these options.

MBA Scholarships

If you’re interested in scholarship options then you should get into contact with your school’s financial aid offices. They will know where the money is and will direct you towards the correct resources.

You can also do a general online search for “MBA Scholarships” and see what options are available from different organizations and businesses.

MBA Work-Study Programs

Work study programs are funded by both the government and the school you attend. They’re on-campus jobs that could be a variety of things. Often schools attempt to match your interests and skills with a campus job.

Online MBA Programs and other Business Degrees

Kaplan University – While Kaplan University is primarily an online school, it does have over 90 campuses across the nation. However, online programs will not require on-site visitation in order to complete the degree program. Kaplan offers distance learning programs for a general MBA, an MBA in finance, and an MBA in Marketing.
Grand Canyon University – Grand Canyon University is a highly-rated, Christian college founded over 60 years ago. The online programs from GCU focus on integrity, business ethics, and making moral-based decisions. The school has two online MBAs available; the first is a general MBA while the second degree is an MBA in Leadership.
Walden University – Walden University is one of the largest providers in online, higher education. This Minnesota-based school was founded in 1970 and now has nearly 50,000 students enrolled. Walden offers an MBA entirely online that prepares students for administrative and leadership positions in businesses and organizations.
Liberty University – Liberty University, one of the biggest Christian schools in the nation, is based out of Lynchburg, Virginia. However, the school is also one of the biggest providers of online education and includes a program for its MBA degree. This two-year program teaches students several advanced business theories and applications, leadership-oriented skills, and business ethics.
Ashford University – Ashford University was founded in 1918 and is based out of Clinton, Iowa. It remains a popular choice among students who seek to pursue their degree online and offers a general MBA and an MBA in Environmental Management. The latter is an excellent choice for students who are seeking to work for non-profit organizations.

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