How to Get Scholarships and Fund your MBA?
| August 20,2010 01:12 pm IST
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 the below table)