Best Ways to Pay for MBA

This post was most recently updated on April 29th, 2019

So you wanna get your MBA, but how are you going to pay for your grad school tuition? And many millennials already carry student loan debt, so how to avoid adding to your current financial burden?

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Scholarships

They exist in abundance, use the websites that allow you to search based on your background, experience, specifically you! There are a lot of resources available for women and moms!

My school also offered scholarships for those students who fit certain exceptional criteria.

Tuition discounts 

My school offered a tuition discount for alumni, so look into yours.

It also offered a tuition discount for employees of partnered companies. This was an easy ask to my HR team- all they had to do was agree to let my school list my company name as a partner on their website. Ching!

Employer Tuition Reimbursement 

This one is the most abundant and easy to take advantage of! Most employers offer some sort of tuition assistance.

One option: they sponsor a full scholarship for the program. To qualify, the requirements may be simple all the way upto high-performers that your company sees value in developing.

And most popularly, companies offer repayment after successful completion of coursework per year in the amount of the federal tax limit where you can receive $5,250 per tax year as reimbursement income without being taxed on it.

Sure, most schools will cost way more per year than that, but my company lets you rollover the balance every year until it’s all paid for!

Pro Tip: Double check your company’s policy with HR- I gave a fellow cohort member a head’s up to submit her grades for Fall before the typical Dec 1st deadline, and she was so thankful that she did!

Still debating getting your MBA? Looking for reasons to confirm you will rock going back to school?

More Money Saving Tips while in School

Amazon Prime Student – Grab a free 6-month trial and get your books shipped for free in 2 days!

Ibotta – Download this app and use my link to get a $10 welcome bonus! Save on groceries and household essentials that you’re already buying. Just scan your receipt and cash out on rebates!

Ebates – Use this every time you buy from your favorite stores online! It gives rebates at major retailers! Use my referral link to get $25!

Work these Side Hustles to earn cash while you study. In minimal time make $$$ from focus groups online to pay for necessities.

I love that these help keep me within budget for Christmas and all year round! What ways have you found to put yourself through school?

best ways to pay for school

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