Thinking of an MBA? Parent plus college loan may not be enough!
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
I’ve always had the dream of finishing an MBA in the United States, which is why as soon as I came to America, I set my sights on getting an MBA degree. Tuition fees being very much expensive here has always been the challenge of anybody aspiring for a graduate degree. But you have to be creative because parent plus college loan may not be enough to get you to the gates of a business school. That was exactly what happened to me.
Before you could be accepted to any business school in the United States, you have to get a good GMAT score of course. What score do you need? It really depends on the business school that you are applying for. They might require anywhere between 500 to a little below 700 sometimes! Now, once you’re done with that step, comes the most rigorous of course. Where in the world will you get financing? Most schools have Student Centers which will help you get some loans. You have to be careful though because, more often than not, they must have partnered with some financing companies that provides student loans with interest rates that can’t be negotiated!
My creativity however, brought me to a meeting with my employer who agreed to shoulder half of my tuition fees, 25% of which I personally shouldered from my home equity and 25% I decided to ask school assistance. When the school gave me the loan, the interest repayment was not very good, so I decided to call the finance company. I thought, it would not hurt if I talk to them. What would I lose? I asked them to lower my rate. That easy. It was just a phone call. In a split second, well maybe less than 2 minutes, I got lucky.
Popularity: 7% [?]
