What is crowdfunding and how can you make the most of a campaign?
Financing your MBA
Along with choosing the right MBA study, school location, and programme format, the estimation of the financial resources that have to be delegated for obtaining the highly sought-after business diploma inevitably comes. In many cases, students successfully convince their current employer to sponsor their education and cover the expenses for their degree as a long-term investment in the company. Academic scholarships and personal savings, or a combination of the two, are other options to consider.
If relying entirely on a sponsorship, or if a scholarship is not possible at the moment, applicants may also consider taking out a student loan or bank loan. Unlike scholarships, however, loans have to be repaid at the end of the study, so students need to follow a well thought out plan for how to manage their finances. Today’s highly digitalised media landscape also makes it possible to set up an online crowdfunding campaign accessible for donations from all around the world which can help programme candidates raise some extra funding for their education. In any case, the costs associated with obtaining an MBA degree are among the major factors to consider well before making the final choice for the right programme.
B-schools and companies are open to assisting MBA students financially.
Executives drive and lead change, but to be successful they have to invest in their own growth.
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The MBA corporate sponsorship should not only benefit the student. It must ensure ROI for the employer as well.
Funding your MBA is a tough challenge. But when there’s a will, there’s a way. Here are some tips to help you out.