Graduate Financial Aid

The national unemployment rate has soared to 6.1%, according to the latest Bureau of Labor Statistics report, but that doesn’t mean everyone is feeling the pinch.

The hiring for those with an MBA remains strong despite layoffs and corporate cutbacks in this turbulent market. Hiring managers, which hired MBAs last year say they expect to hire the same many this year or even more, according to Graduate Management Admission Council. Some corporate recruiters even think they’ll have to fight harder to land top candidates.

I liken an MBA degree to holding that one ring in the Lord of the Rings trilogy. Everyone wants it, even in an economic downturn. Many view hiring those with an MBA as a long-term investment in human capital. It is always good to have the next manager in the pipeline should another manager retire or be lured away by a competitor.

So if you’ve been asking yourself if attaining an MBA is worth the time and investment – all signs point toward yes.

If you need a graduate loan for school (click here).

“My Mom and Dad won’t help me pay for graduate school, what options do I have?” When this happens, and the ball is thrown back in your court, you need to have a game plan.

The two federal loan staples, as it pertains to graduate loans, are the Graduate Stafford and Graduate Plus loans. Both require the completion of the FAFSA and both are fixed interest rates.

The Graduate Stafford loan is a need based loan. Your Expected Family Contribution (EFC) number goes a long way in determining how much you are awarded. You may qualify for up to $20,500. The Grad Plus loan is based on the past two years of your credit history. Please note that credit history is different from credit score. Credit history looks to see if you’ve been on time with any bills in your name. If you have been in good standing with your various payments than you will not need Mom and Dad.

Another benefit of taking out federal stafford and grad plus loans is that you can consolidate them together after you graduate school.

So tell Mom and Dad, thanks anyway, but I’ve got my own back on this one.