MBA Scholarships: how to pay for your MBA
The MBA remains one of the world’s leading qualifications in terms of return on investment with a payback period of two and half years according to Nunzio Quacquarelli, Managing Director of QS, the leading global career and education network. According to the 2013/14 QS TopMBA.com Jobs & Salary Trends Report & 2013 QS TopMBA.com Applicant Survey, average MBA salaries were the highest in the US & Canada at $109,191, followed by Western Europe at $105,901, followed by Asia Pacific at $85,076. Africa/Middle East saw MBA average salaries of $76,457, Latin America $72,234 and Central/Eastern Europe $72,109.
However the question still remains for many talented applicants of how to pay for your MBA. Aside from the upfront investment of tuition fees, applicants must factor in study costs including entrance exams, accommodation and living costs, as well as the loss of income whilst studying. The decision to invest time and money to complete an MBA programme therefore, is not one to take lightly.
This is why EMLYON Business School is fully committed to providing a range of scholarship options. Personal and financial concerns should not prevent high potential and motivated candidates from pursuing a world class International MBA programme. Here are some scholarships options of how to pay for your MBA…
MBA Scholarships: how to pay for your MBA…
EMLYON Guaranteed Scholarships
EMLYON provides a full range of guaranteed scholarships to help qualifying students further their education. If a candidate of the International MBA programme falls under one of the categories, the scholarship will be automatically awarded. Scholarships cannot be accumulated, but if several categories are applicable to the individual’s situation, they will be granted the highest percentage. These scholarships include:
- Excellence Scholarship: a 60% reduction in tuition fees is offered to students who obtain a GMAT score of 700+ and a 30% reduction is given to students who obtain a 650-699 GMAT score
- Diversity Scholarship: a 20% tuition fee waiver will be awarded to the first of each nationality to enrol, executive women and members of the military
- Gateway Profile Scholarship: a 20% tuition fee waiver will be awarded to applicants who either have a degree in luxury, or at least 2 years’ experience in a renowned luxury firm, applicants with a degree in Life Sciences (pharmacy, biology, astronomy, neurosciences, biology, genetics) or at least 2 years’ experience in a Life Sciences firm or applicants with at least 2 years’ experience in a multinational entreprise, either from a CAC 40, FT 500, Fortune 500 or Eurostoxx company
- Entrepreneurship Scholarship: a 20% tuition fee waiver for candidates who have launched a new venture or taken over a firm including a minimum of 3 employees with a duration of at least 2 years, or hold an official and permanent position within their family business for at least 2 years
- Alumni Recommendation Scholarship: 10% tuition fee waiver for applications who have been introduced by a member of the EMLYON FOREVER alumni
- Premier Admissions Scholarship: a 20% tuition fee waiver for candidates who apply before the end of December
- Individual Scholarship: Reductions in tuition fees can be offered through needs-based scholarships and may, in certain cases, be granted in addition to guaranteed scholarships.
For more information about Guaranteed and Individual Scholarships including how to apply, contact Anna Lunarzewska International MBA Recruitment Manager.
Scholarships from the Fondation EMLYON
The Fondation EMLYON was set up over 20 years ago with the objective of supporting the efforts of EMLYON Business School in developing the entrepreneurial mindset around the world. The Foundation provides scholarships to talented students to ensure that financial concerns do not restrict them from accessing education. They aim to distribute €500,000 in scholarships for the year 2014/2015.
Find out more about Fondation EMLYON
Campus France Scholarships
Campus France is the French national agency for the promotion of higher education and professional training in France. Along with providing information and support to international students interested in studying in France, the French Ministry of Foreign and European Affairs provides a number of grants to international students. Grants are awarded through Major programmes and France’s embassies.
There are a full range of grants available depending on your country of origin. For example, European students are eligible for grants under the Erasmus programme to support study in France or another EU country, and the Erasmus Mundus program is open to non-Europeans.
Visit the Campus Bourses website here to find out more about scholarships available in each country
The French embassy
The French embassy or the French cultural service may offer individual scholarships for students who want to pursue their studies in France. Contact your local French Embassy for individual scholarships that are available.
More information can be found here: www.diplomatie.gouv.fr
You may obtain a bank loan through EMLYON’s financial partners (Crédit Lyonnais and Société Générale in Ecully, France) if you have the guarantee of a French resident. If you do not, we advise you to obtain a loan in your country of origin before your arrival.
Discover more about EMLYON’s International MBA programme here