Looking to finance your MBA? Here’s your best bet
Many Indians pursue an MBA in hopes of better financial security in the future. However, it comes at a hefty cost
You need to shell out in lakhs, with IIMs charging around Rs 25 lakh as average fee for a two-year management course
Business Today’s special issue on India’s Best B-schools lists out the most prudent ways to fund your management studies
Education Loans
You can finance your education by taking an education loan from banks, NBFCs and international lenders
Education Loans
Benefits:
- Cheapest source of funding
- Repayment tenure can usually go up to 15 years
Education Loans
Note: List not exhaustive;
data as on Oct 10, 2022
Banks offer lowest interest rates on education loans for MBA. Public sector banks offer lower interest rates than private banks
Scholarships
Universities offer scholarships on the basis of need, merit or achievements in extracurricular activities
Benefits: No stress of returning the money
Loan-Scholarships
Loan-scholarships as the name suggests are scholarships provided as a loan
Benefits: Lower interest rate when compared to education loans
Personal Funds
Look for opportunities where funds can be used for higher returns if invested in schemes
Personal Funds
Benefits: No stress of returning loans as one remains self-reliant
Summer/Winter Internships
Although part time jobs are hard to juggle with an MBA program, students can utilise their breaks to earn some money
Summer/Winter Internships
Benefits: Supplementary income helps cover some costs of the degree
Additionally, it is important to decide which university offers you the best return on investment (RoI)
Business Today’s
special issue on
India’s Best B-schools
Now On Stands!
Magazine Story by:
Teena Jain Kaushal
Designed by: Mohsin Shaikh
Produced by: Anshula Raj
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