Written on 14 Jan 2016.
Finding financial aid for your studies is the most common barrier to overcome before doing an MBA but be sure to read between the lines when offered a scholarship?
Scholarships are the most sought after source of funding and these are provided by the majority of schools. They can be awarded for general merit, or overall profile but schools who are deliberately vague or who even impose confidentiality clauses on their scholarship policies can leave candidates perplexed about the fees they will actually be paying. Some schools even insist on a hefty deposit before revealing what scholarship will be awarded. If the amount on offer is vague or confidential, it might suggest that similar candidate profiles are offered differing amounts of scholarship which might raise the question of fairness, equality and even ethics.
Ensure your fees are transparent before engaging permanently with that school. If you do an honest introspection and estimate yourself an average candidate, you should ask yourself why a school is considering you outstanding enough to grant multiple scholarships and surprisingly low fees. If you look beyond the first feeling of flattery, you might realize that this either means that the school is seeking to fill seats in an otherwise empty classroom, or else your average profile is indeed considered outstanding in relation to a somewhat mediocre class profile. This will have a direct impact on the reputation of your MBA degree in the long-term and a financial saving you might not be prepared to accept.
Don't be lured into accepting your seat in a MBA because of an attractive package of financial aid, as tuition fees are not the only cost to consider.
Remember you will have living expenses over the full length of the MBA programme. As some capital cities suggest monthly expenses of 2000 euros over a one or two year period, this can quickly add another 24 000 euros or more to your budget.
Are the international trips included in your tuition fees? Do international students pay more than local candidates? What about transport to and from your accommodation, not to mention the cost in time? Is private accommodation a reasonable price or will you have to downsize and live like an 18 year old in a campus dorm?
In short, calculate exactly how much you will have to pay in total before embarking on a costly mistake.
EDHEC Scholarship Policy
If a candidate is accepted into the EDHEC Global MBA and falls under one of the scholarship categories, that scholarship will automatically be awarded.
What do students say about our scholarship policy?