I have been working in a foreign company in the US for 5 years, and I want to go to the US to get an MBA and then stay in the US to work. – Financial & Insurance News

I have been working in a foreign company in the US for 5 years, and I want to go to the US to get an MBA and then stay in the US to work.

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As we all know, the tuition fee of MBA in the United States is a considerable amount. The tuition fee for two years is 800,000-1,000,000, which may be the entire savings for many ordinary people, or they may have to mortgage their properties again.
The owner has been to the U.S. often on business trips and may have some understanding of the U.S., which is why he may have suggested Financial Aid. yes, it is true that although tuition is expensive in the U.S., every college and university has a Financial Aid Office, which provides information about financial aid. For those students and applicants in China, you can visit the official website of each school, usually on the Admission-Financial Aid or Funding page, and information on tuition fees can be found in Admission.
Usually, there are several categories of financial aid in each university.
1. Scholarships
Awards granted based on the applicant’s specific needs, academic achievements, background, specific talents or professional interests.
2. Grants
Financial assistance from federal and state governments or university institutions based on the needs of the applicant. No repayment is required. However, most likely only for applicants from the U.S. or even specific states.
3. Loans
Loans provided by the federal government, banks, and lending institutions to help students complete their education while in school. There are many options, and repayment options vary. According to statistics, in 2019, the average student loan debt for recent U.S. graduates was more than $29,200. This means that most students pursuing higher education in the U.S. are choosing student loans to support them through their education.
4. On-campus jobs (Student jobs)
Part-time on-campus jobs can help pay for textbooks and daily living expenses. Some people can also enrich their resume and make it easier for them to find jobs on or off campus in the future.
So it is easy to see that if you want to solve the problem of study abroad expenses, you must first fight for a scholarship and then use student loans to make up the difference, taking into account your own personal financial situation.
For student loans, I recommend MPOWER Financing (https://www.mpowerstudentloans.com), which is specifically for international students in the U.S. You can also follow the WeChat public number “MPOWER Study Abroad”. They support students at more than 400 colleges and universities, including Harvard, and offer student loans of up to $100,000. Compared to other lenders, MPOWER does not require any collateral or guarantors from the applicant.
MPOWER loans have a grace period of up to 30 months, during which the borrower only needs to pay the interest portion of the loan on a monthly basis, which means that he or she does not need to pay back the loan during the study period and the job search period within 6 months after graduation. Only after the grace period is over does the formal repayment of the principal begin, and this can take up to 10 years. Of course, MPOWER also welcomes and encourages borrowers to repay the loan early without paying any penalty if their future careers are going well.
MPOWER has achieved a very high level of satisfaction among its customer base due to its high quality and enthusiastic service. It also took the top spot in the 2022 NerdWallet Best International Student Loan Provider Awards.
By the way, MPOWER has a number of scholarship programs of its own. They have established the MPOWER MBA Scholarship for MBA students, and this year they have established the first prize of $10,000 and the second prize of $2,000, with the deadline of January 15, 2023. There is also a special scholarship for Chinese students, the first prize is $5,000 and the second prize is $1500. The owner may want to find out about it. Good luck!