There are three major questions for any MBA prospective student:

1.       How to get in?
2.       How to get out?
3.       How to pay for it all?

Getting into a program of your choice is only the beginning because completing the program, within your desired time frame, is the ultimate goal.  How about the third question – how to pay for it all?

If you’re not independently wealthy or your company doesn’t pay for your higher education, you have to think creatively on how you’re going to invest in your MBA education. Here are four ways to prepare, pay for, and/or payback your MBA education:

I have been asked by MBA 365 to shed some light on several topics: MBA tuition financing and who should apply to international MBA programs.

MBA Tuition Financing

Unfortunately I can’t generalize for all European business schools but it appears that most schools offer financing alternatives. What I can tell you about ESADE is:

“ESADE offers MBA Student Loan Agreements for all nationalities through exclusive arrangements with large Spanish banks to specifically meet your needs. The majority of MBA candidates finance their tuition fees through student loans from lending institutions around the globe. Spanish banking institutions show their commitment to ESADE Business School by providing optimal lending terms to all ESADE MBA candidates (regardless of nationality). Our partner banks cover up to 100% of the tuition fees.”

A Business Week Article recently discussed the increasing costs of funding an MBA degree and ideas on how to help pay for tuition and other expenses. It was an interesting article and focused on how students need to be cost conscious regarding any decisions they make while attending school. Keeping a close tab on your budget and what your expenses might be before even attending school is something that MBA students should be doing from the start. Most students just assume that once they finish up school, they will immediately obtain a high paying job, in which they can pay off their student loans overnight. While I agree that most students achieving an MBA degree have a better chance of finding a higher paying job upon graduation, in this economy nothing can be considered a sure thing.