Finance your EMBA successfully with these 5 steps

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An Executive MBA is often taken up by working professionals, so planning your EMBA financing strategy well in advance is a necessity. You need to be ingenious and draft a sharp-witted budgeting plan, especially keeping in mind to make the most of your finances given the global economic uncertainty. Here are our 5 steps to finance your EMBA without much hassle:How do most students finance their executive MBAs, and what options are available to you?Students end up going for one, two, or a combination of the following options for funding. 

  • Self-funded- students aren't always willing to take risks. They pay for their EMBA using the money they have saved. Because this fund is entirely self-funded, it is referred to as self-funded.
  • Partial financial sponsorship- some bright students had a great percentage, but they can’t afford the full course fee of EMBA. In such cases, the college provides some financial support as financial sponsorship based on a few terms and conditions.
  • Private loans- Private loans are made by private institutions such as banks, credit unions, and state-based or state-affiliated institutions, and are subject to the terms and conditions of the lender.

Business schools are aware of the fact that corporate sponsorship has been in decline, and organizations have specific HR policies in place for giving employees the flexibility they need to complete an EMBA program. That’s the primary reason why many business schools offer counseling and support in helping applicants approach their corporate jobs for funding. Many business schools have a tie-up for students who intend to pursue a PGPEX degree with banks for loans, to avail of that benefit.

  • Find a good loan

It may not be as easy to get a loan, but if you research well, it is a great funding solution.  However, before signing the documents, make sure you are absolutely clear on what interest rate you might be eligible for (based on your credit rating) and over what period it applies. 

Many institutions offer support to students who wish to pursue the program, you just have to be open to options and research thoroughly. 

  • Explore payment schedules

Many colleges have an installment payment option, which is easy for working professionals, as they can save. Even if tuition fees are only one aspect of the program, this process helps ease the financial burden of up-front costs significantly for students. If you search for the right ways to save EMBA funding will not be a challenge. 

  • Save like never before

 The moment you seriously consider going for an executive MBA degree, start saving money right away. Keeping aside a fixed amount each month from your regular expenses can accumulate to a substantial sum within a couple of years. Although this may require discipline and a good deal of foresight and planning, it is also tremendous ease to know you are able to finance a substantial amount of your EMBA studies. 

  • Look for a college that stresses practical learning too

With the rise of MBA colleges in India, it is difficult to choose which one is the best to pick for a PGPEX degree. A college that stresses practical learning is an advantage and BIBS is one of them. With hands-on experience and industry experts teaching concepts, they have a balanced approach to education. Their PGPEX program has an industry-curated curriculum that is dynamic and regularly updated, providing a broad overview of the key concepts, tools, and techniques needed to successfully meet the competition and challenges of 2021 business environments. Do your research into the costs associated with your EMBA, from course fees to travel, textbooks to socializing. Being prepared and then stepping in might help you complete your degree stress-free.

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