<p>OK, it's awesome to graduate from a top MBA program but how do people who attend these programs full-time pay for their tuition and the cost of their forgone income? As such an MBA from HBS or MIT or Stanford will cost anywhere between a 100k and 200k, in some cases employers will pay, but that is not always the case (nor is it an attractive option if you're seeking a career change), and Government Financial Aid may only be enough for your food and commuting expenses over the two years!</p>
<p>How common is it to take loans, and how easy it is (in terms of credit check)? And how big of a debt does a top MBA school graduate expect to have after graduation?</p>
<p>Post 9/11 GI Bill (+ Yellow Ribbon)
Federal Tuition Assistance
State Tuition Waiver (depending on state)
Employer assistance</p>
<p>…should leave you debt-free.</p>
<p>thanks for the reply,
In terms of Federal Aid, I thought there was a cap on how much grants can one get (~5k/yr). How much can you actually get from the governement?
In terms of employer sponsorship, wouldn’t your employer require you to stay with them after you finish (or else you pay the bill)?</p>
<p>If you did get an MBA, was that how you took care of the bill? If so please indicate how much each method helped?</p>
<p>MBAs are expensive, and honestly some are not worth the money. You should put a lot of thought into what type of job you will get post-MBA and what your salary will be like. Obviously, a Top 5 school will give you good options for paying back your (massive) debt. I think where you get into trouble is in the 25-50 rankings where some of these schools still cost as much as HBS or Stanford but do not provide the same job prospects. A friend of mine is now a consultant for McKinsey and he went to Princeton Woodrow Wilson School for an MPA (policy school- econ, stats, politics, etc.) and that program is free. Another friend went to HBS, and went to work for the US government and has a solid loan forgiveness package and most of her loans will eventually be forgiven.</p>