An MBA degree is a coveted one – funding and admission is getting tougher in the US than before. Funding for citizens and permanent residents is a little easier as they can apply for federal student loans to finish their education at a school that participates in the program. It is a different story for international students – they may have to consider applying for loans through private programs as they are not eligible for loans available from the Department of Education.
Most students have a few options which they can explore to get funding for their education.
That said, here is a break down of what tuition looks like for an MBA program in the US. US Business schools come under 2 categories:
Usually tuition at public schools even for international students are non-resident costs and this still works out to be less expensive than private schools. It should also be noted that the cost doesn’t determine or affect the quality of the education. Here is the average cost that one can expect at different schools.
|Expensive Private School||$30,000|
|Mid Level Private School||$15,000|
|Expensive State School||$20,000|
|Mid Level State School||$10,000|
Tuition varies from university to university and also by the courses. For more information, check University websites or contact the school directly.
One can expect to spend about $12,000 for living expenses during the course of the program – this would include rent, groceries and other expenses. Depending on their lifestyle, most people can get by on $750-$1000 a month. If rent is split with roommates, then you save on expenses all around.