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Home | Education Advisor | Ask the Professor | How to Pay for an MBA?

How to Pay for an MBA?

By Melody Gough

Question

I want to go back for my MBA, but I just can't seem to find the financing. Please help.

Answer

There are plenty of ways to secure financing for an MBA program. Are you working right now? If so, ask your employer if they offer tuition assistance. Many businesses have different requirements for this perk. Some ask that you pay for your classes at the beginning of the school term and they'll reimburse you after seeing proof of your passing grades. Others may not help with tuition unless you are majoring in a field that makes you a greater asset to the company. Ask questions and make sure you understand all of your employer's expectations.

There are plenty of federal and school-specific financial aid options out there, from scholarships to private loans. Fill out a Free Application for Federal Student Aid (FAFSA) to see just what forms of financial aid you qualify to receive.

Lastly, if you are attending school on-campus, you might qualify for an assistantship. You usually receive a stipend for teaching classes or doing research in your field of expertise. This is the avenue I chose while completing my graduate study. I received discounted tuition and it made a huge difference in my financial situation. Talk to an advisor and find out if assistantships are offered and what the application process entails.

About the Author
University of Nevada Reno professor Melody Gough is here to answer your questions every week. Professor Gough has taught poetry in both online and community college classrooms for almost a decade and has also taught English composition at the local university for the past five years. In addition to advising her students and inspiring them with witty classroom exercises, Professor Gough writes both poetry and memoir. Her Master of Arts in Teaching English is from the University of Nevada, Reno.