With an MBA under your belt, higher salaries are likely to come your way. “The average salary, according to the 2005 Global MBA Graduate Survey that the council does, was $88,600.” But the challenge is how to come up with upwards of between $40,000 and $60,000 a year to finance your way through business school so that you can get that higher salary. So, you need to start considering the different funding options available out there from federal loans to private loans, scholarships to corporate sponsorships. And we’ll also find out if you can deduct your MBA expenses on your tax return.
I will like to break down financing to three chapters—life before an MBA, life during business school, and the aftermath with rewards but, likely, a lot of debt. Before you embark on the path of getting an MBA, you have to ensure that you put your financial house in order. If you have existing existing consumer debt, ensure you pay them off and avoid incurring major expenses. (more…)
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