From student loans to corporate sponsorship – there are private and public sources of funding. Many students take on the cost themselves in order to not be obligated to the firm should they decide to leave soon after graduation, which is counter to the spirit of the Executive MBA but still happens on occasion.
Financing the education starts with planning the investment. Exactly how much money are we talking about and are there additional costs above the tuition. Refer to our Cost Planning tool to help evaluate this. Next, determine what level of support, if at all, you can collect from your employer. Does the firm have a policy? Test whether your employer even understands the Executive MBA and the value it gives the firm.
There are financing mechanisms that many employers that enable sponsorship but also protect their investment. These are called corporate sponsorship programs that involve the firm’s bank and a promissory note. Evaluate public and private sources of funding and the process of Sallie Mae. These tips and many more are explained in much greater detail in the Insider’s Guide.