Financing MBA

[waitingforgc]

My apologies in advance as this question has nothing to do with immigration but I thought this forum is apt for it because my status is similar to a lot of others here.

Currently on H-1.
July 2007 485 filer.

I have decided to do a part time MBA. I am sure lot of people here are in the process and/or have already done an MBA.
Since it's a part time MBA the school does not offer any scholarships and
As far as I understand we (non citizens , non Green Card holders) don't qualify for any federal (stafford) loans. Correct ?

What are my options for financing the MBA
1.Self financing
2.Loan from a private lender
Is that correct ? Or is there any other avenue ?

Please chip in with your views/thoughts.

Thanks

[smisachu]

I am interested in knowing the suggestions for this too. I did my MBA here with financing from Sallie Mae. I am looking for a better option as I want to do a MS now.

Originally Posted by waitingforgc

My apologies in advance as this question has nothing to do with immigration but I thought this forum is apt for it because my status is similar to a lot of others here.

Currently on H-1.
July 2007 485 filer.

I have decided to do a part time MBA. I am sure lot of people here are in the process and/or have already done an MBA.
Since it's a part time MBA the school does not offer any scholarships and
As far as I understand we (non citizens , non Green Card holders) don't qualify for any federal (stafford) loans. Correct ?

What are my options for financing the MBA
1.Self financing
2.Loan from a private lender
Is that correct ? Or is there any other avenue ?

Please chip in with your views/thoughts.

Thanks

[mehulpatel2]

I just completed my MBA recently. Yes you are correct in that the only two options you have are self financing and private loans. But within private loans there are huge differences. So just be careful for what you sign up for. When I started my program the school only told me about the one private lender (CFI Private loans). CFI had huge origination fees (basically, they take money off before even giving it to you). CFI and providers like it are good for someone who does not have any credit history in the US. But if you have been living in the US for a while and have built up a decent credit history you may qualify for loans that do not have origination and other fees.

I hope this helps...

[sam_i02]

Depending on the type of company you work for and the work you do: There is one more option - get your employer to pay for it! You will have to be able to sell yourself to your boss and convnce them that it will make you a better asset for your company.

My employer paid for my master degree (got that in May 2006) and is currently paying for my MBA. I work as a Technical Program Manager and was able to show them that a business education would help make me better at my job.

This is not a "loan", but an employee enrichment plan that my firm has a budget for. This budget is typically used for sending employees to seminars, conferences ...etc.. I am limited to some extent as they pay for no more than 3 classes a year. And if i leave the company within 12 months of completing the MBA, i will have to reimburse them for the last year of classes.

[waitingforgc]

Thanks for all your replies