What exactly is financial aid and how do you get it?

How much does it cost to pursue an MBA in the US for an Indian student? What financial aid can he get?

  • I am planning to write GMAT next year but before that, I think it would be better to know how much money I should have in my hand.

  • Answer:

    The full cost over two years at a top ranked school can be anywhere between $160,000 - $200,000 which includes tuition costs, living expenses, everything. The variance comes in mainly due to how you choose to live and how careful you are with your money. You can look at this database of MBA scholarships for Indian applicants as a good starting point - https://docs.google.com/spreadsheet/ccc?key=0AgtSIuE37DsZdEo1YVRqYi1fY1d2aDlDMjJFWVlPREE&usp=drive_web#gid=0

Alok Mangal at Quora Visit the source

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While all the international MBA blogs talk about MBA financing in  Dollars and Euros, we wrote a post sticking to the currency that is giving us newfound  respect to everything from onions to MBA degrees – the Indian Rupee. Check it out here --> http://www.mbacrystalball.com/blog/2013/09/14/mba-cost-in-india-usa-europe-comparison/ On the topic of financial aid and scholarships, this might help --> http://www.mbacrystalball.com/blog/2013/02/02/gmat-scholarships/

Sameer Kamat

Do your target schools offer dollar denominated loans? If yes, follow the rough, rule-of-thumb analysis below.  If not, schools offer a financial calculator which you can use.  At the risk of making a gross generalization, Indians can live comfortably under the recommended budget provided by schools. At an absolute bare minimum, Have 1.3x of what you would need to apply, give relevant exams, get a visa, fly to the US, and enough to get you by for 1-2 weeks.  In all likelihood your education + living expenses loan would come in by them and should hopefully sustain you till you get an internship and then a post-MBA job. It goes without saying that having more cash in the bank  never hurt anyone.

Adi Jain

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