Education loan for MBA : The MBA Loan and Financial Freedom - PowerPoint PPT Presentation

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Education loan for MBA : The MBA Loan and Financial Freedom

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The first questions you should ask yourself are: “Will I be able to repay my Education loan for MBA on a monthly basis?” “Will I be able to get a high-enough MBA salary to pay my loan?” – PowerPoint PPT presentation

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Title: Education loan for MBA : The MBA Loan and Financial Freedom


1
Education loan for MBA
2
The MBA Loan and Financial Freedom
3
  • The first question most people ask when they get
    accepted into an MBA is, How will I pay for it?
    Coming up with 100,000 for a one-year MBA, and
    over 200,000 for a two-year MBA is very
    challenging, but for students looking at careers
    with a high MBA salary, this money is investment
    (on which one can expect an impressive return).
  • There are different products available for
    students, from family loans, country-specific
    loans from banks, government loans, MBA
    scholarships and loan programs designed for
    international students.

4
  • Savings
  • Every MBA candidate should be thinking about
    saving for at least one or two years before they
    begin their MBA.
  • Initial savings are needed not only to pay the
    initial deposit to the school, but also for
    living expenses.
  • Most universities want their students to have
    some skin in the game, using savings to pay for
    some of their education.
  • Most MBA loan providers will also ask for savings
    from the student as it shows a commitment to
    their education and the fact that they have
    thought about this decision for a long time.

5
  • Loans without the help of others
  • Until recently most MBA loans required some sort
    of collateral or a cosigner for a student loan.
    This often meant that a student had to put up
    their house in collateral for a loan.
  • This would involve paying commissions for a
    guarantee and a review process of their house,
    lots of hours of paperwork and sometimes having
    to ask their parents to put up their house in
    collateral if they did not have one.
  • In other cases, banks ask for someone with
    savings or a high salary to sign in the name of
    the student. This makes them, and not the
    student, financially responsible for the loan.

6
  • Affordability, repayment and forbearance
  • Making a decision to invest US200,000 in your
    education comes with a future financial
    obligation that everyone should be aware of
    regardless of anticipated MBA salary.
  • With the freedom to get an MBA loan to pay for
    your education comes great responsibility.
  • The first questions you should ask yourself are
    Will I be able to repay my Education loan for
    MBA on a monthly basis? Will I be able to get a
    high-enough MBA salary to pay my loan?

7
  • Conclusion
  • Every student has different requests and needs
    when taking a student loan.
  • This will be many peoples first loan, so dont
    be shy about asking questions at your local bank
    and making sure the solution works for you.
  • Source http//www.topmba.com/blog/mba-loan-and-fi
    nancial-freedom

8
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9
Read more on Education Loans
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