Private Graduate (MBA) Loans... - Page 2

Originally Posted by kyungwc

I don't know your situation, but a lot of programs offer classes at night so you can have your job in the morning. So, if you just need say 10-15k more to meet your needs, you can consider working as a TA/GA at the school. Not quite sure if MBA programs let you do this.

It will be hard - to have a full time job in the morning, go to classes at night, grade undergraduate papers and help the professors, all while studying for your classes. But it can be done (doing it currently atm for my MA, albeit my morning job is only about 30hrs/week,)

Speaking with my adviser about MBA programs, he mentioned that the material is not as challenging as most graduate programs, so it shouldn't be too hard to pull off another part time - job. Then he went on to say how MBA programs are a waste of money and time... but that's his opinion.

But, even if you don't have the time to work part time at the school, you can still ask. The reason why they "hire" you to be a TA/GA is to help you pay for the school, rather than to offer you employment. I've always been told to let the graduate department know if I feel like I am working too much, because at the end - they want to see you succeed academically. They may even just pay you and give you easy duties (ex: proctor an exam on a Saturday or so)

There are also many grants that you can take advantage of. These depend on the program and the school of course.

Also, if you are in California, there were talks about loans for Dreamers (for education), but I don't know where that is currently atm.

Originally Posted by lemonlilly

what state do you live in?

in California, some CSU universities accept the Dream Act grant for graduate studies. as far as i have been told, UC universities do not, however, so for them, you are limited mostly to scholarships and private loans since we do not qualify for FAFSA.

i am pursuing a Masters in Teaching from UCI, and i got accepted, but i had to ask them to defer my admission until next year because of the issue with funding. i looked into a couple of lenders, like Sally Mae, Discover, and Wells Fargo and they all told me i needed a resident of USC co-signer due to potential issues with liability. further, a lot of these private loans had very bad interest rates in which you would end up paying far more than the principal amount with no hope of "loan forgiveness."

though i would never discourage education, i do think that, if you must go the private loan route, you carefully examine the plans they offer. also, if it is possible, may delay graduate school a year or so to save income (thereby allowing you to request less), figure out a living situation where your rent is low while you go to school, and have more time to apply for scholarships.

also, it is good to look at schools that are more sympathetic and willing to help others in our situation. for instance, USC and UCLA are good for Dreamers. UCI not so much - they had no idea how to help me.

good luck!

PS: i think it's good to keep in mind that for some people, completing educational goals is not just about money.

Originally Posted by Pianoswithoutfaith

MBA are a waste of money if you're not getting it from a top business school. I have yet to meet anyone making above 100k with a MbA who didn't get it from some private top business school.


However if you really believe it's best you get it then try doing what the person above me said. I don't know about you but I was working full time cleaning asbestos and getting a bachelors in electrical engineering so if I managed to do that I am sure you can manage working full time and studying full time actually I stopped half way focused working and when I had enough went back to finish my bachelors.


Have you tried looking at any scholarships?