Graduate Financial Aid

Let me guess, you’re in your mid to late 20s…you aren’t loving your job…and you are contemplating going back for your MBA. More often than not, the first thing that comes to your mind, is can I afford this? I am sure for some people, the answer is no. But for most people, you can afford going back to school, with the help of loans offered by the Federal gov’t, private loans, and tuition reimbursement through your employer. A lot of programs now offer flexible night and weekend courses, so you don’t have to give up your full time job. After you’ve committed to the idea of going back to school, the next best thing to do is to hash out the logistics. How much will your program cost you? How much can you get in the Federal Stafford loan? How much will you need to borrow in a private loan? How can you do all this, and still afford to live? The mistake most people make is they dive head first into school again, but they don’t take the time to hash out all the details…they then find themselves in loads of debt, that they can’t pay off. One thing to think about is getting an online degree…this could help with saving time commuting to and from class. Online degrees are becoming more and more popular. Something else to think about is how much you plan on making once you complete your degree…compare that with the amount of debt you plan on acquiring and make sure that you will be able to make the minimum monthly payments…before it’s too late.