Step 6: Financial aid and scholarships
In a developing country like India, where almost one third of the population is still living below poverty line, it is important to look for a financial aid or scholarship scheme while choosing a B-School because management education is getting costlier every year.
In India, the annual cost of an MBA is about Rs.4 lakhs in regular courses. So, availability of bank loans coupled with scholarship schemes will make even costly programmes affordable to the common student.
Students are advised to make enquiries about funding options.
Does a B-School offer guaranteed loans with low interest-rates? Do you need a co-signer to get loan sanctioned? Does the institute have a tie-up with banks. What are the scholarship options? Take all these things into consideration before choosing a B-School.