Just about every MBA program has a travel component that allows students to participate in a business-themed excursion in order to gain international experience, network and, in turn, become more marketable. If a several-week travel component offers these benefits and more, what would completing an entire MBA program overseas provide? According to Investopedia, going abroad to earn your MBA offers “a more rounded or global business school experience,” and it will “equip you to be a more effective player on the global stage.” This additional experience is attractive to future employers and it can benefit you when advancement opportunities arise down the line.
Besides the career and financial benefits of completing your MBA overseas, students have the opportunity to learn another language, they will enjoy a shorter program (typically less than two years), and easier admission requirements—especially for older applicants as schools overseas appreciate students who are more established and mature. Finally, most students agree that the opportunity to attend college overseas happens just once-in-a-lifetime.
If you think that earning your MBA overseas sounds appealing, there are a number of things to consider before you go. We have a list of three things that might make it a bit easier to choose a program and prepare a budget plan.
1. Top Overseas MBA Programs
Some of the best overseas MBA programs are offered at London Business School; IESE Business School – University of Navarra, Barcelona, Spain; HEC Paris; China Europe International Business School (CEIB), Shanghai; Hong Kong University of Science and Technology (UST); Manchester Business School (MBS), UK; Schulich School of Business – York University, Toronto, Canada; and Australian Graduate School of Management (AGSM), Sydney, to name a few. Check sites such as Forbes and U.S. News & World Report for more options.
2. Did Someone Say Free Tuition?
Many overseas schools market heavily to international students. As an incentive to enroll, some schools extend reduced or even free tuition to international students. Some are even tuition-free—for all. For example, all state-run universities in Germany are tuition-free, including the University of Hamburg, Ruprecht Karl University of Heidelberg, and the University of Munich. Several schools in Norway, such as the University of Oslo and the University of Bergen are tuition-free, and international students do not have to pay tuition in Findland. It is important to note that some schools require international students to document their ability to support themselves while studying overseas.
3. Federal Financial Aid and Stipends
Some schools award stipends to international students to help cover living costs. In addition, U.S. citizens may be able to use federal student aid to pay expenses. The U.S. Department of Education’s Federal Student Aid website will help you “find out which schools participate in the federal student aid programs and guide you through the process of getting federal aid to make a dent in that tuition bill.” And by the way, free or not—most colleges and universities outside the U.S. are much less expensive.
Brown, Rachel. "The Pros And Cons Of Going Abroad For Your MBA." Investopedia. N.p., 6 Sept. 2011. Web. 15 Sept. 2015.
Clark, Kim. "Some Top International Colleges Offer Free Tuition." US News. U.S. News & World Report, 21 Sept. 2010. Web. 15 Sept. 2015.
Forbes. "The Best International MBAs: Two-Year Program 2015 Rankings." Forbes. Forbes Magazine, n.d. Web. 15 Sept. 2015.
Haynie, Devon. "Seek Online MBA Programs That Provide Travel Opportunities." US News. U.S. News & World Report, 13 Aug. 2013. Web. 15 Sept. 2015.
"Home." Federal Student Aid. An Office of the U.S. Department of Education, n.d. Web. 15 Sept. 2015.
Snider, Susannah. "Calculate the Cost of Earning an Overseas Degree." US News. U.S. News & World Report, 28 Oct. 2014. Web. 15 Sept. 2015