Getting a graduate degree in business is key to ensuring that you remain competitive in your field and are able to provide the companies that you work for the information and consulting services that they need to get ahead. However, it can be difficult for you to afford your business degree because you might not have the money to pay for tuition, as well as to pay for your living expenses. Here are some tips for paying for a business graduate degree.
1. Look for Outside Scholarships
Go online and apply for as many outside scholarships as possible. These could be offered to people who have had certain experiences, have certain physical traits, or who can simply write excellent essays. These scholarships are going to be small, but even $1000 here and there can be the difference between drowning in debt and being able to manage your debt.
Also, always make sure that you talk to your business graduate school of choice to see if they have any scholarships for which you can apply.
2. Consider Entering the Non-Profit Field
Next, if you enter certain fields of work, such as consulting for non-profits, you might be able to qualify for loan-forgiveness programs down the road. One such program allows you to make 120 payments of any type and work for an employer that qualifies as a non-profit organization that provides a necessary service to the country or to the area in which it is located. This can be tremendously helpful when choosing to go back for your masters because it means that you will not be drowning in debt for the rest of your life and that, once you have made it through 10 years, your loans will be gone.
3. Check With Your Employer
If you are currently employed, check with your employer to see if there is a tuition-matching program or if they would be willing to pay for some or all of your tuition. Some companies need certain types of business graduate degrees. If you are willing to get a specific type of business graduate degree, such as a business consulting masters, you could convince your company to pay for it. Some companies will also pay for degrees if you add in extra classes, such as a needed language.
For more information, talk to your business school of choice. They will be able to guide you in your quest for funds to pay for your schooling.