An interesting artile on the financial aid, again from an American perspective but I think it's also helpful for other international students. Just to clarify one ISSUE about the tuition fee. It's mostly true with many other European schools that they're increasing the program fee substantially, e.g. INSEAD has just raised the fee from Euro 45,000 to 48,800 for Sep 2007 intake. Instituto de Empresa (Madrid) also increased almost 10% to Euro 45,000. But IMD has kept the MBA program fee at CHF 55,000 + 20,000 (2-week overseas discovery trip + 10-month daily 3-course lunch buffet, the quality of which i've detailed in another blog entry:-) for a few years. I didn't apply any U.S. school, so nothing to say about that which is also not relevant for this article because it's discussing US students going abroad. Enjoy reading: Business Week - Financing an MBA Abroad: Where to Go, What to Know, and How to Borrow?
Higher tuition and living expenses can make pursuing an MBA abroad a financial nightmare. Here's how to obtain the funds so you can sleep easy
"You've spent a few years in the domestic workforce, hip to the ever-globalizing economy, and now your culture-savvy professional interests (inclinations?) make the idea of pursuing an MBA abroad particularly enticing.
Well, start researching schools and try not to let high tuition prices and poor currency conversion rates give you pause. With a few calculations and hearty, equal doses of research and realism, you too can join the discerning 2% of U.S. MBA students pursuing their degrees internationally. Think of your financial aid hunt—and the ensuing computations—as a refresher course in decision science...
Furthermore, though the 152-student (90 MBA + 62 EMBA) International Institute for Management Development , or IMD, in Lausanne, Switzerland carried a price tag of $60,700 for the 2006 academic year and the majority (70%) of its students did not receive financial aid in 2006, the worldly school still provides unique financial aid opportunities. An affluent alumni board doles out scholarship and loan monies from a fund; the pool, backed and run entirely by IMD grads, dished out $900,000 for needy students in the 2006 academic year alone..."
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