“In a less formal setting, discovering your company’s history of employee sponsorships is essential.” YOUR PITCH Once you’ve understood your company’s policy around sponsorship, you’ll want to spend time sharpening your pitch.
Mitrakos stresses that the biggest mistake at this stage is failing to frame the MBA degree’s true value.
Others opt to refinance their home or take out home equity loans, sometimes finding that this is a cheaper route due to the strong housing market.
529 savings plans can also be used to pay for graduate school, and you can name yourself the beneficiary of a 529 fund, allowing you to put that money towards an Executive MBA program.
“At a huge company with an organized HR department, these policies will be written down on internal websites or in the employee handbook,” Mitrakos writes.
“Some organizations may even have structured relationships with MBA admissions consultants and GMAT prep courses to guide your application choices and give you the best possible chance of success.” At smaller companies, it may be more difficult to find a definitive policy.
Outside Scholarships There are also scholarships available outside of Vanderbilt, such as the Pat Tillman Foundation for veterans, and many local community foundations also offer scholarships for residents pursuing continuing education.
Depending on your current job, you might qualify for an industry scholarship.
“If the request is accepted, it can radically expand your financial options and even increase your chance of admission.
Sponsorship also invests your employer in your personal success, often leading to better post-MBA roles.” UNDERSTAND COMPANY POLICY Before even submitting a request for MBA funding, it’s important to first examine and understand your company policy around sponsorship.