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A million ways to fund your MBA

While business education can be costly, MBA applicants can take advantage of different opportunities to help them finance their studies. One of the most popular ways to reduce the financial strain of business school is to get a scholarship.

Scholarships are usually either merit-based or need-based. If you can boast a superior GMAT result, for example, you may be eligible for a merit-based scholarship. Need-based financial aid is available to applicants who are not able to afford their MBA tuition.

Another type of scholarship is based on diversity. Business schools take this topic very seriously and they do their best to create cohorts of students from as many different nationalities, ethnicities, and backgrounds as possible. This is why universities offer additional financial aid to minorities as well as to women, encouraging them to join their MBA and enrich the classroom with their diverse points of view.

Business school scholarships can be quite competitive, even when they are partial and do not cover all student expenses such as accommodation. Keep in mind that there are also external opportunities for financial aid beyond the university itself. Look through all of your options carefully.

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