Tuck | Mr. First Gen Student
GMAT 740, GPA 3.0
INSEAD | Mr. INSEAD Hopeful
GMAT -, GPA 2.9
Kellogg | Mr. Concrete Angel
GRE 318, GPA 3.33
Darden | Ms. Environmental Engineer
GMAT 710, GPA 3.3
Kellogg | Mr. Go-Getter
GMAT 710, GPA 3.3
Columbia | Mr. Global Healthcare
GMAT 740, GPA 4.0
Stanford GSB | Mr. Airline Developer
GMAT 730, GPA 3.48
HEC Paris | Ms Journalist
GRE -, GPA 3.5
Kellogg | Mr. Innovator
GRE 300, GPA 3.75
Stanford GSB | Ms. Social Impact To Tech
GMAT -, GPA 3.5
Harvard | Mr. First Gen Consultant
GMAT 710, GPA 4.0 (First Class Honours)
Harvard | Mr. Big 4 Auditor
GMAT 740, GPA 3.55
Stanford GSB | Mr. JD Explorer
GRE 340, GPA 3.5
Georgetown McDonough | Mr. Automotive Project Manager
GMAT 680, GPA 3.5
NYU Stern | Mr. Honor Roll Student
GRE 320, GPA 3.1
Stanford GSB | Ms. Healthtech Venture
GMAT 720, GPA 3.5
Chicago Booth | Mr. Bank AVP
GRE 322, GPA 3.22
UCLA Anderson | Ms. Apparel Entrepreneur
GMAT 690, GPA 3.2
MIT Sloan | Mr. AI & Robotics
GMAT 750, GPA 3.7
Tuck | Mr. Liberal Arts Military
GMAT 680, GPA 2.9
Stanford GSB | Mr. Social Entrepreneur
GRE 328, GPA 3.0
Wharton | Mr. Industry Switch
GMAT 760, GPA 3.95
Stanford GSB | Mr. Irish Consultant
GMAT 710, GPA 3.7
McCombs School of Business | Mr. Marine Executive Officer
GRE 322, GPA 3.28
Harvard | Ms. Developing Markets
GMAT 780, GPA 3.63
Harvard | Mr. Policy Player
GMAT 750, GPA 3.4
Wharton | Mr. Future Non-Profit
GMAT 720, GPA 8/10

What It Takes To Get Into Harvard’s 2+2 Program

How People Are Paying For The MBA

With MBA costs showing no signs of slowing down, b-schools are looking for different ways to help carry the financial burden.

Francesca Di Meglio, a contributor at Business Insider, recently discussed how MBA programs are helping students pay for their skyrocketing tuition costs.

PAY MATCH

One way b-schools are helping supplement out-of-pocket costs of education is helping to match pay for summer internships at startups or with nonprofits.

At Duke University’s Fuqua School of Business, the Summer Internship Fund “enables students to learn about the rewards and challenges of social sector management without making a significant financial sacrifice, and enables organizations who otherwise could not afford MBA interns to benefit from their experience.”

The aid program prioritizes students working for nonprofit organizations and non-governmental organizations, along with including aid for those working in non-impact oriented small businesses or start-ups.

“Duke University’s Fuqua School of Business Summer Internship Fund, sponsored by both school and student groups, matches what employers are able to pay to students interning with nonprofits, mission-driven businesses, or small businesses and startups so that those groups are able to benefit from the expertise of an MBA intern without significant financial sacrifice,” Allison Jamison, assistant dean of admissions at Fuqua, tells Business Insider.

Additionally, a number of top b-schools participate in loan forgiveness. According to Business Insider, schools like Yale School of Management and Stanford Graduate School of Business all provide loan forgiveness.

“In order to encourage MBAs to make meaningful contributions to social issues, economic growth, and political stability in organizations where salaries are typically lower, we offer a loan forgiveness program to reduce the financial impact of educational debt, by paying a percentage of graduates’ Stanford GSB loan obligations while they are employed in the nonprofit or public service sectors,” Kirsten Moss, assistant dean of MBA admissions and financial aid at Stanford GSB, tells Business Insider.

STUDENTS FINDING WAYS TO PAY

As tuition costs rise, students are increasingly coming up with creative ways to fund their MBAs.

“Students are paying for their tuition through a combination of savings, scholarships, and loans,” Soojin Kwon, managing director, full-time MBA program and admissions at University of Michigan Ross School of Business, tells Business Insider. “Additionally, some students are sponsored by their employers. Others take on part-time graduate assistant or teaching assistant jobs. And some companies will partially pay for a student’s tuition after the MBA graduate has been hired full-time.”

And while costs will continue to rise, experts say the MBA is still a worthwhile investment that will pay itself off in the long run.

“We estimate that even among the top 20 global MBA programs, which average an eye-catching $115,000 in total tuition, that it only takes 40 months or 3.3 years to pay back the investment,” Alex Chisholm, head of analytics at QS, tells Business Insider. “This break-even estimate includes the opportunity costs of forgone wages and living expenses during the program. Further, it seems that graduates from these top 20 programs can expect an average 10-year ROI of nearly $1 million dollars. This is a testament to the value of the degree and the premium employers still place on top graduates.”

Sources: Business Insider, Duke Fuqua, Poets & Quants