Financing your MBA

Recession or no recession, a MBA degree from USA or UK remains the number one priority for many undergraduate/ graduates in countries across the world. The only constraint for many students is the huge fee.

Public sector banks in India for instance offer loans up-to INR 20 lakhs, interest rates vary from 10-13%.Banks abroad provide similar funding. In fact there is a concession ranging from 50 – 100 basis points for female students.

Banks insist on students depositing 15% of the total loan if the overseas loan size exceeds Rs.4lakhs. No collateral is required for loans up-to Rs.4lakh. For loans beyond INR 4lakhs it is required to furnish suitable tangible collateral security like fixed deposits, NSS etc.

Repayment of loans begins immediately after student secures employment or six months, post completion of the course. Repayment tenure is 5 years to 7 years.
It is also possible to get loans from banks based in the US. Several B-schools have tie up with banks, it is advisable to apply to those colleges which offers loan cum admission.

To get scholarships in the UK visit www.ukba.homeoffice.gov.uk and check whether your educational provider is registered with UK border agency.

Cost of MBA program in the US : $25000-$70000 per annum*
Cost of MBA program in the UK : 10000- 40000Pounds per annum*
*inclusive of tuition fee and living expense.

Source- The Economic Times



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Increase in Female graduates in MBA programs

As per director of MBA admission Wharton school, the number of women in their MBA class has increased from 36% to 40%.
Similar trend has been noticed in other Business schools.  Harvard Business School’s
class of 2011 is 37% female, while the University of Chicago’s Booth School of Business is 35%
and Northwestern University’s Kellogg School of Management is 33%.

Stanford’s new admission policy

Most sources say that while applying for a Bschool,it does not matter when you send your application(1 year earlier or 1 day before the deadline), because they will read your application until the application deadline passes.

But Stanford it seems have articulated a policy that they will review the admission application and inviting applications for interviews before its first round deadline passes. This has been designed in order to balance the work load of the admission committee.

Although it is advisable to rush your application procedure, it is better to apply when you think you are ready.