There are also websites available that can match you with outside scholarships after you fill out a profile; you then apply for the scholarships by submitting an essay.
Company Sponsorships Executive MBA students are often eligible for some level of financial support from their employer, as getting an MBA significantly contributes to their professional development.
Attending an Executive MBA program is a big commitment of time, effort, and money, and there are often a lot of questions surrounding the last component, since Executive MBA students are working as they earn their degrees.
We sat down with Juli Bennett, Executive Director, and Sarah Fairbank, Director of Recruiting, to get the details on five possible sources of funding for Executive MBA students.
“In a less formal setting, discovering your company’s history of employee sponsorships is essential.” YOUR PITCH Once you’ve understood your company’s policy around sponsorship, you’ll want to spend time sharpening your pitch.
Mba Sponsorship Essay
Mitrakos stresses that the biggest mistake at this stage is failing to frame the MBA degree’s true value.To learn more about the Executive MBA program at Vanderbilt Business, visit the program page or request more information.recently discussed how MBA applicants can convince their company to fund the MBA. The simplest way is to get on the right side of the sponsorship equation by asking your boss to support your MBA,” Mitrakos writes.Tax benefits and holding periods for 529s vary by state and individual savings plans, so a financial expert will be able to offer the best counseling for your individual situation.As prospective students weigh all these financing options, Bennett recommends that they also consider the future of their career and how the Executive MBA impacts that, including probable salary increases.“We will work with our students to help them articulate the return on investment that the employer is going to get from them participating in Vanderbilt’s Executive MBA program,” Bennett said.Fairbank notes that because the program spans three calendar years, students often receive three years of company sponsorship.However, sponsorships often come with agreements whereby recipients agree to stay with the company for a set amount of time (typically three years as well), so students must decide if this agreement is worth the time commitment.Other Options For those Executive MBA students who pay out of pocket, tuition may be tax deductible depending on your situation; an accountant will be able to best advise you on the tax implications of this payment route.Others opt to refinance their home or take out home equity loans, sometimes finding that this is a cheaper route due to the strong housing market.529 savings plans can also be used to pay for graduate school, and you can name yourself the beneficiary of a 529 fund, allowing you to put that money towards an Executive MBA program.