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So your next challenge is business school and the career-changing potential of an MBA. A great idea, as it shows a willingness to take on new challenges, to change your career and to work hard towards improving your skills, your salary and your leadership potential.
Then comes the crunch - how are you going to pay for it?

Recent statistics from the 2007 QS World MBA Tour Applicant Survey show that over 50% of MBA aspirants worldwide now consider scholarships their preferred method of funding business school. Loans are preferred by some 22%, largely in North America, where loan culture is essential to the higher education system.

Compared with Russia and Ukraine, the figures show a big discrepancy. A high 65% of Ukrainians want scholarships (compared to 45% of Russian respondents) while Russians (30%) are more inclined than Ukrainians (17%) to consider a loan the best option of funding their studies. (See Table 1)

Perhaps the most important step for any aspiring MBA is to remember that the business school wants you to succeed. It is in their best interests that you make a great success of the course and go on to a strong and successful career in the business world. As such, all business schools provide some form of financial assistance or, at the very least, advice on where to get that help. If you have narrowed down where you want to go, the schools themselves will be your main port of call.

London Business School, for example, offers over 35 scholarships valued between approximately £8,000 and £50,000. These include several Annual Award Scholarships open to all and worth £20,000; or the Forte Foundation Fellowships, offering £20,000 but only to women applicants. The Wharton School of Business at University of Pennsylvania considers all successful applicants to the course and notifies scholarship awardees by mail as part of the acceptance process.

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Source: -
Ross Geraghty
Website: www.topmba.com