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MBA Student Loans

You've completed your four-year baccalaureate undergraduate degree and wish to continue your education further, pursuing an MBA. However, you are already head over heels in debt and can't afford to pay for graduate school on your own. It may seem like you have few options open to you, but that's completely untrue. There are specialized MBA student loans, as well as generalized graduate study loans, for which you are eligible. Many of these alternative loans for MBA and graduate programs can be used toward tuition, as well as other college fees, including internship and travel costs associated with internship programs.

As with all loans, you should start with the federal offerings, particularly the Stafford graduate loan, which includes low interest rates and flexible repayment options. The first four years of graduate school is capped at $18,500 per year (or $8500 subsidized without interest), with a maximum of $138,000 when you include previous undergraduate funding ($65,000 max subsidized). Any other loan consideration will not be available until allowable government funding is applied and will simply cover the remaining cost above and beyond what the federal aid achieves. Repayment can be set up in several ways including a fixed payment each period throughout the entire term of the loan, a graduated payment that starts off small and increases over the course of the loan term, or an income-sensitive plan where your income plays a factor in the payment amount.

To help bridge the gap between the funds provided by the federal government and the total cost of your education, or if you don't qualify for government funding, there are also alternative MBA student loans from private sources. You can typically consider a student loan from any bank, which will treat your graduate loan similarly to a standard student loan. Sallie Mae also has a specific MBA student loan to offer. The MBALoan has special features, including repayment options equal to those of Stafford loans, no loan limit with a cosigner (pending the cosigner's credit), and a lifetime limit for individuals of $175,000 (of course, you cannot borrow more than the cost of your schooling).

Paying for school is not easy, but we are here to help. OEDb's student finance section will help you find the money you need to pay your tuition and other college expenses. We cover scholarships, college grants, and student loans. Scholarships and grants are both forms of "free money", meaning they don't need to be paid back. Scholarships are typically awarded by businesses or individuals, with the money being earmarked specifically for tuition. They can be awarded based on a student's location or by religious affiliation, such as Catholicism or Islam. Grants are typically awarded by governments or non-profit organizations and the money often can be applied to several different expenses a student may incur, not solely tuition. They can be awarded based on location or ethnicity, for instance African American or Hispanic. Loans are not considered "free money", because unlike scholarships and grants, they do need to be paid back after graduation. Common federal loans include Perkins and Stafford. Loans are also available by location.