Part time MBA funding

mrbearatlas

Hello,

I am about to undertake a part time MBA costing circa 28k. Unfortunately, my giant multinational employer does not sponsor any further study so I am self-funding. Part-time courses are also not eligible for scholarships.

Roughly 10k of that will be covered by postgraduate government student loan however it is the remaining 18k that I am investigating as to how best pay for.

Has anyone any experience of this or advice on how best to pay for the remaining 18k? I will need to work out what I can cover from my salary alone too.

I'm assuming the best option would be a bank loan from Martin's latest email but keen to hear if anyone has any other suggestions.

WibblyGirly

Are you sure it is £28K? That seems very expensive for a Masters degree.

agrinnall

WibblyGirly wrote: »

Are you sure it is £28K? That seems very expensive for a Masters degree.

Not for a MBA.

"MBA fees range from £16,000 to £73,000 in the UK. "

https://www.thecompleteuniversityguide.co.uk/mba/

OP, your only real option is to pay from savings.

WibblyGirly

Wow! I had no idea it could cost so much! Could it be cheaper to do the course in a different EU country? The university should be able to advise you as I'm sure they'll have been asked this a lot, they may offer payment plans.

rheb

If your employer funds apprenticeships, you should ask them to fund an MBA under the government's apprenticeship scheme. This is a brilliant new way to get an MBA 90% funded by someone else, if you can work it out. If you own a small business and can justify the education as a business expense (should be easy for an MBA, for pretty much any role), the business can use gov't funding to fund your MBA.

Look for the FT.com article entitled, "MBA students become unlikely beneficiaries of UK apprenticeship levy".

Not all schools offer it, but you can google "MBA apprenticeship" to find those that have already started.