This is the single largest factor that scares most of us. Though I was about to discuss it at a later part, I am doing it right away as for people from India, it is humanly impossible to look at a 'phoren' MBA without knowing some of the basics.

Okai, last year, I had chosen to go to Manchester Biz School in UK. However the funding became a little problem as I was depending on 2 banks to help me. First, HSBC in UK which was tied up to the school as such. They were ready to fund half the course, that is only the second half of the program. For the first half of the program, I was looking for an education loan from some Indian bank. But the problem with Indian bank's loan scheme is, they give a max of 15 Lkhs, around 32,000$. Actually this would have been sufficient for the first half of the program but then the disbursement terms were painful & not workable at all. Thus, I could not collate enough money to fund my studies. But I see that TOP Schools in UK too, like Insead & LBS provide good funding options through HSBC. All these will be listed on their respective sites. It calls for some active research and follow-up. :)

Now, coming to the US Schools. Not many people are aware about this. Neither was I till last year but desperation seeks out different survival instincts and after spending loads & loads of time on S2S, BW Forums & the likes, I came to realize that the TOP B Schools in US look out for TOP-notch students and make it all worthwhile by providing enough student aids & loan schemes. Most of the 'WOW' schools help international students by providing LOANS for International Students without COLLATERAL & without US_COSIGNOR. :) Now, this comes as a BIG surprise to all of us who are used to indian banking. Yes, but it is true. The major financing corporations or banks are ready to give you loans because they trust the school in which you have been admitted into. The school stands as a gurantee for the repayment, not that it is GOD, but it trusts your repayment capabilities just as much as it is sure of your candidature into its program. :)

The interest rates and the repayment periods might vary from each other. Pl sit down with ANY of your favorite RANKING chart (I say this just because the procedure of checking schools rankwise becomes systematic & not some random hosh-posh work!) and visit each of their websites, to Day-time programs, Funding or Financing part and go to the International Students part. See, once you get admitted you will definitely get loads of info but to begin with, you can just satiate yourself by doing this small research! For eg, you can see here for Duke MBA Opportunity Loan

Phew, 100k$ is a big amount for anybody. Its not true that our American or European counter-parts have it easy and they are not worried about the money. It is a huge investment for everybody and people who go into it cosider it as a wise investment in oneself. Be sure that the money involved wont scare you away or it blinds you so much that you may not enjoy your B-Schooling at all. Seriously folks, if you are gonna be blinded by the money part, I implore you to NOT take the risk... you will not be happy. I have seen people nag about the application fees being way too high & way too expensive, such people need to think about the MBA costs without any aid or scholarship!! Nobody knows whether you will get that RIGHT job or whether you will network with the RIGHT people or whether you will be able to kickstart that RIGHT company.. but surely the MBA from a TOP School will give you the skills to lead a sane life, reasonably successful and a big network of friends & allies you can look upon at some point in you career. Darn, that is not worth that damn 100k bux... Oh yeah, Then STOP reading this blog right away!

Now, once you are assured that the school wants you as much as you want to the school, now remains the Visa part. How the hell would you convince the Visa Officer (VO) about the loan and your repayment plans. That is something you need to really work and think a lot about. See, if your family is in a village and you are the sole bread winner, obviously the big loan of 100 k$ would look BIG. But if you are able to convince the VO how you intend to come BACK to India after you studies and how you predict your chances of survival & success, then you are all set for that MBA is TOP School. You might need to work on your past & present earning capacities and how much can u see urself earning post-MBA from a TOP School. Also the VO knows the good schools so atleast you dont have to worry about mis-spelling your school's name. ;-) Ofcourse, all this is work and sometimes worry and a lot of uncertainties. Sure, but at the end it will all work out fine and you will be just fine!! :)