Looking to finance your MBA? Here’s your best bet

Many Indians pursue an MBA in hopes of better financial security in the future. However, it comes at a hefty cost

You need to shell out in lakhs, with IIMs charging around Rs 25 lakh as average fee for a two-year management course

Business Today’s special issue on India’s Best B-schools lists out the most prudent ways to fund your management studies 

Education Loans

You can finance your education by taking an education loan from banks, NBFCs and international lenders

Education Loans

Benefits: 
- Cheapest source of funding
- Repayment tenure can usually go up to 15 years 

Education Loans

Note: List not exhaustive;
data as on Oct 10, 2022

Banks offer lowest interest rates on education loans for MBA. Public sector banks offer lower interest rates than private banks

Scholarships

Universities offer scholarships on the basis of need, merit or achievements in extracurricular activities

Benefits: No stress of returning the money

Loan-Scholarships

Loan-scholarships as the name suggests are scholarships provided as a loan

Benefits: Lower interest rate when compared to education loans

Personal Funds

Look for opportunities where funds can be used for higher returns if invested in schemes

Personal Funds

Benefits: No stress of returning loans as one remains self-reliant 

Summer/Winter Internships 

Although part time jobs are hard to juggle with an MBA program, students can utilise their breaks to earn some money

Summer/Winter Internships 

Benefits: Supplementary income helps cover some costs of the degree

Additionally, it is important to decide which university offers you the best return on investment (RoI)

Business Today’s
 special issue on
India’s Best B-schools
Now On Stands!

Magazine Story by:
Teena Jain Kaushal 
Designed by: Mohsin Shaikh
Produced by: Anshula Raj

Click Here

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