Funding an International MBA

(Disclaimer: I owe Prodigy Finance a lot. Both literally and figuratively! They helped me pay the expenses that my scholarship didn’t cover).

Ironically, although international MBAs are much more expensive, they are generally easier to fund than MBAs in SA. This is especially important as employers in South Africa pull back on spending. Outside of raising money on your own, or through your network; these are the main funding options.

Scholarships

There are far more scholarships available overseas. In many MBA classes (particularly in the US) it’s not uncommon for more than 60% of the class have some kind of scholarship. Very few people actually pay the sticker price.

There are quite a few scholarships reserved for students from Africa. There are also scholarship programmes that consider regional diversity in their awards, but battle to find applicants from Africa. Some schools also have loan forgiveness programmes if you end up in the non-profit sector.

International Student Loans

 Prodigy Finance gives out loans to applicants wanting to get an overseas MBA at a top university. It was dreamed up by a bunch of MBAs (naturally) who saw international classmates battling to get funding.

  • There is no co-signer or collateral necessary
  • 118 nationalities are eligible
  • You only have to start loan repayments six months after the MBA
  • The Loan amount can be lowered before class starts if you get a scholarship

You can check out Prodigy’s website here