MBA Degree MBA Academics Business Schools MBA Admissions MBA Courses MBA Careers MBA FAQs

You are here: Home > MBA FAQs

MBA Funding FAQ

Q1: Is MBA education affordable?
Q2: What are financing "options"?
Q3: How are scholarships awarded at Wharton?
Q4: How do I apply for financial assistance and what is the process?
Q5: What do I need to know about educational loans?
Q6: Would you recommend the use of financial aid consultants or scholarship search services?
Q7: Are there any other outside sources that I should consider with regard to financing?
Q8: Are grants or scholarships taxable?

Q1: Is MBA education affordable?
A1: Yes, but the affordability of an MBA education is a personal decision. While financing is available, loans are more readily accessible than grants or scholarships.

Back to top

Q2: What are the financing options?
A2: Financing options refer to the money to help you pay for your graduate education. Your primary source of funding will be through federal and credit-based education loans. Typically, a financial aid package will include a combination of government loans, scholarship support, other educational loans that satisfy demonstrated need and the Wharton Loan, available to all students admitted to the MBA program.

Back to top

Q3: How are scholarships awarded?
A3: Sscholarships are merit-based and awarded on the strength of a candidate's entire application. Scholarships are awarded at the time of admission into the program. No application forms need to be completed to be eligible.

Back to top

Q4: How do I learn about my financing options?
A4: Please visit the school's website for detailed information

Back to top

Q5: What do I need to know about educational loans?
A5: Most schools offer several educational financing programs to assist students in meeting their educational expenses. These programs include Stafford and MBA Loan. There are other loan programs with varying interest rates. Information is available in libraries and through your local bank.

Back to top

Q6: Would you recommend the use of financial aid consultants or scholarship search services?
A6: Consultants are usually expensive. If a scholarship program charges an application fee, beware!

Consider the extent of the search being offered before committing to a search service. Very few students have won scholarships using such services. These services tend to be relatively expensive and the sources that are guaranteed are usually the major federal student loan programs. You may find better information by spending an hour or two in your local library.

Back to top

Q7: Are there any other outside sources that I should consider?
A7: You should also think of any organizations to which you belong that might have aid funds available: religious organizations, fraternal organizations, clubs, athletics, veteran groups, ethnic groups, unions, employers, rotary clubs, etc.

Back to top

Q8: Are grants or scholarships taxable?
A8: The Tax Reform Act of 1986 states that grant assistance is taxable income to the extent that it exceeds tuition, required education fees, and course-related expenses. Course-related expenses are those for books, supplies, and equipment required for your courses.

For non-resident aliens, it is required to withhold federal income tax on grants received in excess of the expenses described above.

 

> Related Topics <

 

 

 
 

Home | Advertising | About Us | Contact Us | Sitemap | Resources | Suggest URL
Copyright 2004-2019 Local MBA Explorer All Rights Reserved