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Manavta
28 January, 2025
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“Budgeting your money 💵 is the key to having enough” – Elizabeth Warren
Working full time? Are you a professional in a company? Are you a student wanting to pursue studies remotely? Or looking to get a degree in Management Studies?
To all these questions above, the simple answer is to opt for an online MBA. We live in an age, presently where technology has revamped the sector of education. We can now pursue a degree without going to an institution physically.
Management studies have been a popular degree choice for decades for their revolutionising contribution to different sectors and industries. It has subjugated the minds of students and professionals wanting to go into the management side. It has career benefits along with reputed opportunities all the way. However, it can be heavy on your pocket. In this blog, we have discussed a few options to finance your online MBA education.
Online MBA is the best pursuit for anyone looking to pursue a postgraduate degree in management but not to invest full time in it. You can skip going to an institution or sitting down in a classroom and just studying behind a screen.
India has many great universities offering online MBA programmes that hold the same reputation and value as the regular degree. Given how flexible and ecstatic an online MBA is, more learners are now interested in pursuing this degree. It serves as the best option for professionals doing full-time jobs and students who are bound by other responsibilities to advance their careers.
Several surveys conducted over the years hint at the same thing. If your college is accredited by UGC-DEB, your online MBA would be valid for private jobs, government posts or higher education.
Online education has made its mark within the past few years and one good thing about the COVID-19 pandemic was how it taught that education offered online reaps the same benefit as in a classroom. But why an online MBA? What are the benefits of doing an MBA via an online mode? Well, here are some of its perks:
As easy as it sounds to pursue an MBA online, many other factors are to be considered while opting for one. The right institution, the specialisation to go with, and ofcourse, the cost for all of it. Considering your finances for pursuing any degree is important. You should only invest the time and money if the ROI (Return on Investment) potentially comes equated to the time invested in that degree.
This rule applies equally to pursuing an online MBA since it guarantees that you would have job opportunities and a good career after completing the degree. In India, the cost of completing an online MBA programme goes to lakhs. Not everybody can afford this. Seeing how much you can and should personally invest depends on your choice.
Finding the right institution is very important when it comes to pursuing an online MBA. Only an accredited and recognised institution would provide students with the best of everything. From updated curriculum, placement facilities, and highly trained staff to student assistance to help them build a prospering career.
However, affording an online MBA might be challenging for some. That does not mean they have to drop their choice of pursuing an MBA online. There are many ways that they can finance an online MBA and fulfil their dream of getting a management degree.
Several highly ranked universities do not put a financial burden on the aspirants, and hence, they have the provision of paying the fees in easy instalments. For example, Chandigarh University gives this provision to its management students where they can pay the fees of the 2-year programme rounding up to ₹2,50,000 in easy instalments.
An institution only becomes reputed when it provides the best education to its students. But such institutions know that the students hold real worth. Therefore, many universities like Jain University Online MBA offer scholarships to students based on economic background, good scorecards, etc.
Loan does come off as a scary word but education loans come off as a beneficial resource for many students. If one lands a good-paying job in a great company, they can pay off their loans in no time. The government offers several policies and banks also take the least interest on educational loans.
If you are a professional, you might have some savings. Or even if you are a student, first look into the cost of the programme, estimate the extra charges that you might incur during the two years, and then plan skilfully. Look into the institution that fits best into your budget or schedule out how to invest money the best way. Truth be told, no educational institution is actually a trademark of success, it all depends on how much hard work and effort you are willing to put in.
You get to save some time when you do an MBA online. You can segment out some portion of your day, work part-time, and make some money to ease out and help to make finances to pay the fees of the programme.
In conclusion, the financial aspect of pursuing an online MBA is a critical component of your journey. By choosing the right financing options and institution, you can embark on this educational adventure with confidence, paving the way for a prosperous future in the field of management.
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