Financing for an MBA abroad - I

Financing an MBA abroad is one of the biggest financial decisions for anyone. So has been the case for me. The problem is two-pronged, its not just the amount but also the means required to arrive to that amount. Today, I realize had I waken-up from my lumber in these days last year, I would had been much better off. I will try to address both in two separate posts, this one is for the latter.

First, I should had done some research on the scholarships available for an MBA abroad same time last year. Had I done that I would had been better informed and atleast applied to half a dozen scholarships. I came to know of these scholarships only recently, when their 'due date' had expired.

Second, I shouldn't had gone by the perceived notion that no funding is usually available for MBA studies abroad. Infact, I have realized now that there are a host of philanthropic organizations with more than two dozen scholarships! Many of them are listed here and in addition to that if you are willing to study in the UK, then here too.

One thing should be kept in mind that though there are a host of scholarships, its very difficult to manage the entire expenditure through scholarships alone unless you are super lucky!

Third, Save! Save!! Save!!! Though it might look far fetched to save the entire MBA expense, even a small amount goes a long way when you really think about it. A saving of Rs 2-3 lacs(approx GBP2,500) will provide for more than 6 months of living expenses! So, no matter what other say about inflation eating away your savings, its still one of the best options.