Financing An MBA In The UK

There are various ways of financing your MBA studies in the UK, for examples:

- Career development loans (CDL): CDL scheme is for those intending post-MBA careers in the UK or European Economic Area. This UK government sponsored scheme enables students to borrow up to £8,000 for a job-related training course lasting up to 2 years. Repayment is deferred until after the course has finished.

- Association of MBAs Loan Scheme. Students on MBA programmes accredited by the Association of MBAs are eligible for this Loan Scheme. To apply for the AMBA Loan Scheme, applicants must be a permanent UK resident; have secured a place on an AMBA-accredited MBA programme; and have five years' practical work experience within industry or commerce (for recent graduates: two years' work experience is required). Students are expected to make a contribution equal to 20% of the total course fees from their own funds.

- US Loans: US students can apply for a Federal Loan to study at the UK universities like Cambridge. From 1 July 2010 the University of Cambridge began participating in the William D. Ford Federal Direct Loan programme.

- Canadian Loans: Canadian students can apply for loans through their home province.

* Suggested Reading: Top MBA Schools in UK