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.”

It’s a new year and many economists think the recession is waning. If you’re looking ahead and figuring ways to advance your career, the MBA route might be the ticket. It’s never too late to continue your education! There are various types of programs with innovative specializations and accommodating schedules for busy professionals or for those that want to go full-time. Take the time and do the research so that you can make an informed decision. Too many aspiring students think about the limitations (I’m too old, too young, too inexperienced, not good enough grades or scores, etc.) and never think about the possibilities. The economy is down and you may not think you have the time or money, but taking your education one step further can dramatically increase your earning potential over your career. Plus, it can connect you with other movers and shakers in the business world.

Accelerated MBA programs, also referred to as One Year MBA Programs, are full-time MBA programs that generally take between 12 to 15 months to complete. The term “accelerated” refers to the fact that students are able to complete these programs faster than a traditional full-time MBA, which typically requires a two year commitment. While accelerated programs are a relatively new phenomenon here in the U.S., most European MBA programs have traditionally followed this format.

Accelerated MBA Programs have steadily gained popularity in the U.S. due to the growing reluctance of applicants to take two years out of the workforce. Tuition costs for accelerated MBA programs – another major consideration for MBA applicants – are often a fraction of the cost of a two year program. Currently, over 90 accredited business schools around the world offer a one-year MBA program with many schools expected to add the option in the future.

One of the most important considerations for any potential student, but especially for an MBA candidate, is the cost of tuition and living expenses. With university costs skyrocketing and the job market remaining uncertain at best, a decision to go to business school has serious implications. The difficulty of this decision can be magnified even further depending on a candidate’s individual situation. For example, an older candidate may already have a family who relies on their income and might prefer to stay in their current geographic location. Alternatively, someone who is earlier in their career might have significantly more flexibility when it comes to leaving their existing career and choosing which school to attend.