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Financing An MBA In The UK


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There are many things which come together to make for a successful business enterprise. These things are conveniently divided into four key managerial
segments or functional areas of business including the production, marketing, human resource development and finance.

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Financing An MBA In The UK

  1. 1. ==== ====The Truth About Managing Change: ====Studying for an MBA is a challenging part of many peoples educational experiences. However, itis also one of the most recognised qualifications in the world and having studied in the UK will giveyou an edge over other students due to the fact that quality standards for UK institutions areamong the best in the world. Universities, colleges and schools continually have to prove that theircourses meet strict criteria. Many other countries are now trying to follow the example of the UK.Costs for an MBA course can vary a lot from school to school. Some places offer them around the£6,000 mark, while most offer them at around £25,000 - £40,000. Anaverage figure for most peoples costs for an MBA is around £20,000.Most students will fund their education using a loan or savings and some will opt for employersponsorship. There are loan schemes that operate specifically for education purposes. The twomain loan schemes operating in the UK are the AMBA Loan Scheme and Career DevelopmentLoans (CDL). Of these two the AMBA is the best option because they are specific for MBAcourses in the UK.The AMBA asks that students are of the following criteria:* They must be permanent UK residents for tax purposes.* They must have a place on an accredited MBA programme.* They must have at least two years relevant work experience at a level of responsibilityappropriate for study at masters level in Business Administration.* They must have a degree or equivalent professional qualification. Non-graduates must have atleast five years relevant work experience.The amount you can borrow from the AMBA for your course varies depending on your situationand course length. Students are normally expected to be able to cover around 20% of the coursefees from sources other than the MBA Loan.The scheme operates through NatWest and Barclays Bank PLC. For full time courses the loan isnot repayable until the student has finished studying whereas a part time student will have to startpaying the loan back one month after the loan has been taken out.The CDL should be looked at as another option to consider.Career Development loans (CDL) are slightly different as they are not specific for MBA courses.
  2. 2. You must live in the UK or prove that you are intending to use your training or qualifications forwork in the UK or elsewhere in the EU. The funds are dealt with by four banks Clydesdale Bank,Barclays Bank, The Royal Bank of Scotland and The Co-operative Bank. You can usually borrowup to £8,000, plus the costs of books, materials and other course expenses.If you are looking to study an MBA there are definitely plenty or funding options so you should beable to cover the costs. The MBA qualification will enable you to pursue careers that will be morethan worth it. MBA qualifications are recognized world wide and will benefit anyone looking tofurther their careers.Article Source: ====The Truth About Managing Change: ====