Financia Aid, Scholarships, and Grants, oh my

[PeteyG]

I am really lost on this subject. Im trying to figure out the best way to apply for scholarships, but it seems really hard to find some that are applicable to me. Where is a good place to look perhaps for these?

Also, how can I get grants or financial aid? Are these given based on my application, or do I need to apply separately for them?

Thank you in advance!

[HenryN]

Unfortunately for most MBA programs, you are not very likely to receive scholarships and grants. This is due to the fact that business schools believe you will be able to repay the loans with your post graduate MBA salaries.

Just because it is difficult however does not make it impossible.

There are some scholarships out there for people like you. The best way to find scholarship money is to get the contact information from the schools that have accepted you. Financial aid offices know where the money is and will be glad to direct you.

This is just one more reason why you should apply to business school in the earliest possible round.

Pell Grants from your undergraduate days are off limits to grad students, but there are loans available to MBA students. Lenders usually consider them great credit risks, probably for the same reason the schools are not so giving with grants. They figure you will be able to pay them back promptly. There are four loan programs from both the federal government and private sources which can benefit you however: Stafford Loans, Perkins Loans, School-Based Loans and Private Loans.

Work study is another way to help one's help through school. They are funded by both the federal government and the school itself. And depending on your school and the nature of the job, you might be able to handle the workload and a part-time job at the same time. Just be careful about your first semester at school. It’s always very demanding, so try not to schedule too much work.

You’ll find that a lot of the available jobs are in the business school itself.

[wvspidermonkey]

I just graduated with my MBA... some of my fellow classmates qualified for "GA" or graduate assistant positions. While completing their course work, they worked no more than 20 hours per week, less during finals and midterms. They also received $2,000 in pay per semester. Not much money, but they do not have the loans to repay (that I do).

As stated eariler, the position and pay will vary between business schools. However, this information is for a small University in West Virginia. Other programs and Universities may be able to afford more. I hope this helps...