Professional organizations offer scholarships to MBA candidates

Professional organizations offer scholarships to MBA candidates

Although students who complete a campus-based or online MBA program can expect to see pay raises and more desirable job descriptions, these courses of study can prove to be a large investment.

According to Investopedia, the average MBA program can cost enrollees more than $200,000 over the course of two years. Individuals who leave their jobs to study full time may put themselves in an even deeper financial hole.

However, online degree programs can eliminate some of these costs, as they do not require degree seekers to buy as many books or pay for dormitory-style living. Web-based learning may also be ideal for working adults who wish to continue working while they pursue a master’s degree.

MBA candidates who still require financial assistance to cover the cost of tuition may want to consider seeking scholarships, such as those that are available through the Cincinnati Chapter of the National Black MBA Association. This year, the group has committed to providing financial assistance to two MBA candidates.

In addition to reducing a student’s educational debt, similar financial aid packages from professional organizations could help degree seekers network with members of their industry.

By Monique Smith