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- May 30, 2008
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it seems that alot of you guys are worried about the financial aid and considering taking a MBA program concurrently. Well here is my input and would like to show my reply to someone who recently asked me about this topic.
The two programs that students are taking are davenport and TUI. Both programs can be completed online. TUI is much more convenient and fits student schedules better but you will get about 5K less per year.(I am a TUI student) I am actually currently taking a break from the masters program because I am starting to find out that it may not be worth it after all. Paying 3K for a 15k loan is a bit pricey. I was only planning on taking the MBA program for as long until our school finds us a better loan option. I use the edsouth loan now and find it better than federal aid at this point because the interest rate is 5%, which is less than federal rate of 6.5%. As an incoming student, I dont think you should really worry about taking an MBA program for financial aid, but rather should take it because you find it beneficial for your career. If you want an MBA program, consider a better school and stay away from the useless online MBA programs and go to a real university.
If you really think about it, you will go through 1 year of private loans and the three years after you will be getting federal aid. Just max out your federal aid and use it to pay off your private loans when they are available.
The two programs that students are taking are davenport and TUI. Both programs can be completed online. TUI is much more convenient and fits student schedules better but you will get about 5K less per year.(I am a TUI student) I am actually currently taking a break from the masters program because I am starting to find out that it may not be worth it after all. Paying 3K for a 15k loan is a bit pricey. I was only planning on taking the MBA program for as long until our school finds us a better loan option. I use the edsouth loan now and find it better than federal aid at this point because the interest rate is 5%, which is less than federal rate of 6.5%. As an incoming student, I dont think you should really worry about taking an MBA program for financial aid, but rather should take it because you find it beneficial for your career. If you want an MBA program, consider a better school and stay away from the useless online MBA programs and go to a real university.
If you really think about it, you will go through 1 year of private loans and the three years after you will be getting federal aid. Just max out your federal aid and use it to pay off your private loans when they are available.